as of 09/03/2021 at 11:13 am
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EQi continues to move towards more user-friendly content for the less experienced investor with appealing imagery and tools to make complicated information digestible. You pick your own investments from the mountain of funds and shares available. Currently, if you're not sure about what you're doing or what you need, it's a complex, text-heavy site to navigate.
Overall, EQi is relatively pricey for small portfolios but becomes more competitive as the pot size grows. However, the charging structure is quite complicated to get your head around and needs a bit of brain power.
With a £17.49 quarterly custody charge (that can be offset), fund fees of 0.3%, falling to 0.25% after £50,000 and a £10.99 dealing commission on shares, it’s not simple! It is worth noting that making two share trades within a quarter or holding around £20k in funds would result in the quarterly custody fee being offset completely. Use our fee calculator if you need help.
EQi outsource the admin and trustee services of your SIPP to a third-party company called Gaudi. Gaudi charges a flat annual management fee of £118.80. For investors who want to access their pension, there is also an annual £180 drawdown charge. It is also worth noting that there is a £90 charge for transferring out a pension.
Mid-sized investment platform
£10 both lump sum and monthly