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Vanguard are about to charge £4 pm fees for managing balances less than £32K.
So I’ve started the process of taking my money out, as £4 pm will definitely destroy any future market gains (I might add, I have nowhere near 32K invested).
I’m also going to have to figure a way to protect my daughter’s SIPP with them, once again not a huge amount in there. Will probably switch it into cash (for which there are no fees) and then look for another provider.
I really hope this backfires on Vanguard. It’s been fun and moderately profitable ‘playing’ with small amounts on the market. But now it’s the big investors that will remain untouched, while the smaller ones are scalped.
