True but when you're building that fund from nothing up to €1m then it is expensive. If you could start off somewhere cheaper and transfer into that friends first account when you have a decent sized portfolio then that would be ideal.The policy fee adds 0.012% to the AMC on a €1m portfolio. That's fairly trivial in the grand scheme of things.
If you could start off somewhere cheaper and transfer into that friends first account when you have a decent sized portfolio then that would be ideal.
Friends First do have a contact with an AMC of 0.4% if you use ETFs/ Indexed funds. That contract has a whopping big policy fee of €120 a year.
Absolutely - assuming you can get a 100% allocation.
On that basis, by my calculations, the Friends First offering starts to look cheaper than the Davy offering once the portfolio reaches around €25k.
My calculations give a figure of €34,286. Davy is at .75% AMC whereas FF is a .4% AMC and €120. So, 120 has to be less than .35% of the fund value. 342.86 * .35 = 120.01.
I think you need to add the weighted average TER of the underlying ETFs/funds to Davy's 0.75% wrapper cost - I assumed 0.15%.
Surely there is a cost for ETFs and funds with FF as well. If you get the same ETF through Davy and FF then wouldn't the cost be the same?
Steven,
That's good to know; not whopping in the context of a meaningful sized fund.
Gordon
Anyone have link for Friends First 0.4% / 120e product? Cant seem to see it online, do you need a broker to access or can you ring them directly?
You could try ringing them but I'm pretty sure you would have to go through a broker.Sorry to dig up this thread again, but does anyone know how to access this product?
You could try ringing them but I'm pretty sure you would have to go through a broker.
You could try ringing them but I'm pretty sure you would have to go through a broker.
...or what usually happens is that you get the direct sales team, people who live off commissions and selling...
Steven
http://www.bluewaterfp.ie (www.bluewaterfp.ie)