I’m finding hard to understand the rationale behind the reduction from the previous £10 for Alpha. Specially if it were to include SIPP’s
My guess is Alpha no longer includes an ISA as that works out at the same price. But just a guess
Initially Alpha had ISA, free instant trades for US stocks, £0.50 instant trades for UK stocks, wasn’t it?!
In the future FT plans to offer SIPP’s, which we can all agree will be a good addition to the product.
The way I see it, which means I can’t see absolutely anything, such a reduction would possibly have to imply a third type of account?!
We would then have
Something in between with ISA or SIPP?!
Alpha with everything?!
The other way around?!
And a fourth account named Autopilot, which is an initiative I support.
I know everything will become clear in due time. It’s just I can’t see it right now
I was thinking basic, alpha and autopilot. The ISA and SIPP would be add on features to any of those accounts with an extra charge. I kind of want to say like Monzo Plus but maybe not
Sorry don’t know what Monzo plus is.
I’m thinking aloud here, just trying to organise my thoughts:
Autopilot, ISA and SIPP are standalone products. And they would have to be premium, meaning not free, available at a given price. DYI managed
But I can also envisage an Autopilot, an ISA Autopilot, a SIPP Autopilot, a JISA Autopilot, a LISA Autopilot, and DIY for any of them too. In time of course, one after the other, with priorities.
Talking about priorities. Better go to sleep. Have an important meeting tomorrow at 20 to 12
Edit: just read about Monzo Plus. In essence it’s similar to go from the Basic to the ISA. And I can see your point now, with the add-ons to Alpha. Not everyone will want both ISA and SIPP, and in this context the reduction may start to make sense in this tiny little sleepy brain of mine
What a coincidence, I have informed work I need to make an important phone call at exactly the same time
I’m praying BT doesn’t confirm people’s thoughts about their performance
It’s the same Alpha account, but cheaper. It’s related to the Freetrade Platform - it will make our costs significantly lower.
Sweet. I’m convinced this new platform is some sort of sorcery now
I hear pentagrams and chickens feature heavily in its ‘continual release path’
This this this
Autpilot will be awesome. It’s a feature by the way, not an account type (so will be possible in an ISA).
To the point of being able to include ISA, SIPP and other tax wrapped products at no extra cost to the costumer, and still make a profit, even at a lower price?!
If that’s so, wouldn’t it make sense to, instead of removing the info about the Alpha plan from the website, to have it there at £10 and then, when the new super duper Harry Potter Tinkerbell Merlin platform that allows for a substantial reduction in costs starts to work announce it and declare the savings in costs are passed to the costumer?!
Being a feature means no revenue?! Wanting to become a monopoly are we?!
Suppose it could be a feature with a fee attached to it, which you only pay should you opt in for it. The price probably will be a dozen of basis points by the looks of it, maybe slightly more
Autopilot could be a great differentiator leading to more signups, extra fees might hinder that.
Looking forward to sneak peaks, and blog posts sharing more details.
I can see a lot of people saying it should be capped, arguing with passion.
For me, so long it helps people to improve the returns on their savings and it helps the company I’m for it if
How did that important phone call you had yesterday go? If I may ask that is
It went on a lot longer then anticipated but it was a good outcome
Time tends to fly on important occasions.
Glad you got what you were looking for out of it
How Schwab Ate Wall Street
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