Fair Transparent Charges
Unfair charges reduce good fund performance
Our interests are aligned.
Portfolio Establishment Fee (PEF)
A charge of 3.0% of the amount invested, with a ceiling or cap of £40,000. This cap benefits investments of £1.3m and above. Structured this way because, in our opinion, the work involved for a £10m investment, is similar to £1.3. A fair approach. The charge includes the advice, portfolio construction and full implementation. Stein International receive no others fees or commissions. In circumstances where complex Tax, Trust structuring is involved, the charge may increase. However, this will always be discussed and disclosed at the outset.
Active Management Fee (AMF)
We charge a percentage of the value of your portfolio on an annual ongoing basis, which means it is in our interest to do all we can to make your money grow. As your funds rise with Stein, the further your charges fall:
- Up to £1,499,999 = 1%
- From £1.5m to £5m = 0.8%
- Over £5m = 0.6%
What we don’t do is charge you for fund switching
When we recommend a fund switch our only intention is to keep your portfolio balanced and maximise performance. There is no entry or exit charge
What we don’t do is charge you for encashments
When you take a partial or complete withdrawal there are zero exit penalties
What we don’t do is take a commission
This eliminates bias on funds picked. Some funds automatically generate commission, when this is the case we rebate 100% of the fee to your portfolio.
Clean Share Class funds (CSC)
We only recommend Clean Share Class funds (or institutional rather than retail funds) for our clients. This is because they carry no hidden initial charges, commissions, or exit penalties, meaning there is NO CHARGE to change. This category of fund carries an OCF charge typically between 0.4% to 1.2% with no initial or exit charges on the funds. If we feel it’s important that our clients benefit from a certain fund, but that fund is only available as a Retail fund, paying commission, we rebate 100% of the fee to your portfolio.
External fund manager charges and DFMs
All funds and DFM’s carry an On-going Charges Figure (OCF) expressed as a percentage. These charges vary, and are typically within 0.3 – 1.2%, expressed as an annualised figure but the charge is taken daily , payable to the Fund Manager, not Stein. These fees are taken within the fund and performance is always detailed net of these charges.
Our Portfolio Valuations are expressed net of all charges and therefore represent your encashment value.
Online access 24/7 to include:
- Asset allocation
- Client Wealth Account