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as of 25/02/2021 at 12:12 pm
The website has been improving and the service is interesting for relatively confident investors who want a mix of funds and shares. The pension is outsourced to a third-party so internal knowledge could be less for some more complex queries. Pricing is broadly decent for larger portfolios but very hard to get your head around.
We score each provider on about 20 different criteria including cost, service, website, functionality, customer feedback and our experience of the service. All overseen by our PhD gonk!
Better suited to share traders
Costs are fair
Needs a digital revamp
Don’t want to take our word for it? We ask existing customers and investors to rate their experience with the company – based on value for money, overall service and the website. We need at least 20 customer reviews before we add anyone to our Best Buys list.
Based on 23 reviews
Stocks and Shares ISA
Lifetime ISA
Investment Account
Pension
Funds from other groups
Stocks and shares
Pick your own funds
Pick your own shares
We do not currently have sufficient feedback from investors on the drawdown experience to review the service for those in retirement. Please help us by leaving your review.
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.
Provider Size: | Mid-sized investment platform |
Minimum amounts: | £10 both lump sum and monthly |