Question
Bestinvest - Quarterly Custody Charge Dates
I've looked through several fees and charges documents that Bestinvest Select provide via their website and I'm struggling to find any clear indication of when the quarterly custody charges are actually levied.
I need to know because I want to sell and transfer out of their ISA and obviously don't want to snag a new quarterly charge if I can avoid it. I know you used to work for them Justin so thought I'd ask here if you have that information available.
Keep up the great work you do.Answer
Thank you, glad you find the site helpful.
I checked with Bestinvest (as agree their documents don't make this clear) and the Select Service custody charge is taken at calendar quarterly ends, i.e. the end of March, June, Sept and December.
Just bear mind that when transferring the process can take a few weeks. If transferring across as cash I guess the date that matters is when the investment(s) triggering the custody charge are sold, as there's no custody charge on cash. If transferring 'as is' (i.e. in-specie) then the date on which your investments are transferred out of Bestinvest's nominee account is the one that matters. Either way, I'd leave at least a month to be safe unless you're selling the investments yourself to transfer cash.
Bestinvest - Quarterly Custody Charge Dates
I've looked through several fees and charges documents that Bestinvest Select provide via their website and I'm struggling to find any clear indication of when the quarterly custody charges are actually levied.
I need to know because I want to sell and transfer out of their ISA and obviously don't want to snag a new quarterly charge if I can avoid it. I know you used to work for them Justin so thought I'd ask here if you have that information available.
Keep up the great work you do.Answer
Thank you, glad you find the site helpful.
I checked with Bestinvest (as agree their documents don't make this clear) and the Select Service custody charge is taken at calendar quarterly ends, i.e. the end of March, June, Sept and December.
Just bear mind that when transferring the process can take a few weeks. If transferring across as cash I guess the date that matters is when the investment(s) triggering the custody charge are sold, as there's no custody charge on cash. If transferring 'as is' (i.e. in-specie) then the date on which your investments are transferred out of Bestinvest's nominee account is the one that matters. Either way, I'd leave at least a month to be safe unless you're selling the investments yourself to transfer cash.
Read this Q and A at http://www.candidmoney.com/askjustin/855/when-is-bestinvest-custody-charge-taken
No comments:
Post a Comment