MiFID Statement

[XFool]

I have received an interesting new document from the ISA broker I use for mainly IT investments. MiFID II - Annual Ex-Post Costs and Charges Statement

This shows cumulative effect of costs and charges on return as both an amount and percentage, with itemised breakdowns for service and product costs.
Anyone else received one of these?

[doug2500]

I've got a section on annual costs with a line for third party costs. It goes on to say I can get a breakdown on request, which I haven't got round to yet.

Possibly the same thing?

[scotia]

I have recently received from Fidelity a "costs and charges summary for the year to 31 December 2018" concerning my ISA. The costs and charges are much more detailed than previously notified. The covering letter suggests that this is possible because there has been a greater focus on transparency in the investment industry. It doesn't suggest that this disclosure is legally compulsory, and it says that it will concentrate on ISA and Investment accounts - with a plan to extend this to SIPPs.

[tramrider]

I received an informative "MiFID II - Annual Ex-Post Costs and Charges Statement" for my X-O SIPP account on the 17th.

It was interesting to see the split between the X-O charges (0.37% for service charges and buy/sell transaction costs) and the investment product charges, mainly for the IT half of the portfolio, but averaged across the lot (0.58% for management and 'internal' transaction costs), giving an overall total of 0.95%. The X-O service charges were low this year because they had only taken one quarterly charge payment during 2018, to be followed by a full annual charge hit in January 2019.

Tramrider