Question Re ITC PRSA Fee and LEAP (Connexim) fees combination query

T

tandcapply

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Hi all,

We're about to set up a new Execution only ITC PRSA and invest via Connexim's LEAP platform.
Just wondering if anyone knows if the total annual fee is the sum of both ITC and LEAP's below?

For example, if ITC PRSA Annual management charge on the brochure is says 1% and LEAPs commision is stated as 0.8%.
Assuming I've invested 100,000 and made no interest in a year (for simplicity). Will at the end of the year there will be a charge of 1.8% on the total 100,000?
 
For what it’s worth, I would question if all the bells and whistles Connexim offer are worth it - every different layer gets a slice (platform fee, fund fee, etc…). I suspect a simpler bundled option from a life insurance co may be better value. 1.8% is significantly higher than others are playing for PRBs and PRSAs
 
Small Self-Administered / Self-Directed Pensions/PRSAs are not my market so I'm not familiar with what's available in that space on an execution only basis. Maybe one of the other intermediaries can offer some assistance. Pretty sure you'll not get the fees as low as you might get a Standard/Non-Standard PRSA (with funds/index trackers) though.
 
tandcapply said:
@GSheehy @Markel Any idea which one offers similar ETFs for lower fees?
Click to expand...
What ETFs are you looking for? It's possible that you could find the same investment offered by a provider as a fund without the need to pay platform fees. Worth looking into as it could be cheaper for the same result.
 
Fortune said:
What ETFs are you looking for? It's possible that you could find the same investment offered by a provider as a fund without the need to pay platform fees. Worth looking into as it could be cheaper for the same result.
Click to expand...
A mixture of SandP 500 tracker, mostly conservative ETFs (global markets and etc)
 
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