Transparent charges
It pays big to think small
Our low, transparent fees save you money so, over time, more of your money is reinvested each year. This is known as ‘compounding’ and can have a significant impact on the value of your final pension assets.
Total transparency
We believe in acting in your best interests which is why we list exactly what we charge. Trust is built on an honest and transparent relationship between client and advisor so we disclose in full our fees and how advisors are remunerated.
This not only improves the duty of care to clients it also improves the quality of investments and fosters investor confidence.
Our transparent charges
• Managed Portfolio Fee: 1% per annum
Plus
- For Defined Benefit Transfers a Fee of £1,950 applies (DB Pensions only – one off charge)
For Australian transfers to SMSF schemes only the following additional charges apply:
- Set up fee: 1,300 AUD
- Annual fee: 1,400 AUD
There is an additional annual fund cost ranging from 0.10% to 0.25% depending on the provider. Also, for additional trading, FX and rebalancing there is a cost of 0.1%.
Our fees are paid within the transfer and investment arrangement so there is no need for you to send us any payment.
Pension administration fees are charged extra by the Trustee and should range in cost from £250 - £500 per scheme, per annum.
In some cases, your current pension provider might have imposed exit fees. Brite will advance the surrender costs protecting the value of your current portfolio and spread the costs up to 10 years to minimise the impact that you might have incurred with your existing provider.
How our fees compare
All pension providers and IFAs charge you a fee to manage your pension, but some will also use third parties for certain elements which also charge. Sometimes these charges are hidden in the form of commissions paid to the insurance company for managing your assets.
So, you may be charged life bond costs, investment platform fees, annual fund fees, custodian fees and ongoing advice costs on top. You could be paying 4-5% per annum in charges before any growth is achieved.
The headline annual management fee shown by some providers may not represent the total amount you’ll be charged, and other fees may be hidden from you. At Brite our fees are fair and completely transparent.
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