Cavendish Online FundSupermarket FAQs
How will Cavendish Online earn an income?
The only charge that an investor will have to pay is the Fund Charge (typically 0.75% but as low as 0.06% for some tracker funds), a 0.20% platform charge paid to FundsNetwork and a 0.05% Ongoing fee payable to Cavendish Online which is equivalent to £7.62 per annum for an ISA valued at £15,240 (2016/17 annual limit).
Does Cavendish Online still deal with Cofunds?
Existing clients of Cavendish Online who use the Cofunds platform will be able to continue to invest and manage their portfolio. These customers will have the option to move to their investments from Cofunds to the Cavendish Online FundSupermarket if they wish, but this is by no means compulsory.
New Cavendish Online clients will NOT be able to use the Cofunds platform. However, you will be able to apply directly to a fund manager if your chosen fund is not one of the 2,700 available on the Cavendish Online FundSupermarket. You can also transfer your Cofunds plan to the Cavendish Online FundSupermarket without charge.
How do I move my investments to Cavendish Online to save money?
This will depend on where your investments are held. Whether you are currently using another platform, are registered with a financial adviser / broker, or hold investments directly, moving to Cavendish Online can help you reduce your annual charges.
Please visit our moving your investments section for guidance on these options.
How long does it take to carry out a change of agency, re-registration or ISA transfer?
Cavendish Online will process any paper application and forward to FundsNetwork on the day of receipt.
A change of agency will typically complete within one week.
A re-registration will typically take four to six weeks to complete.
An ISA Transfer will typically take four weeks to complete.
Please be aware that these are estimates and are not guarantees of how long it will take if you have applied to move your investment to us.
What happens if Cavendish Online or FundsNetwork go out of business?
Neither Cavendish Online nor FundsNetwork will hold your money. The money you invest in a fund will be held by the investment company. However, the assets they manage are separate from the company’s own assets, meaning that if the investment company were to file for bankruptcy your funds would not be affected.
How will Cavendish Online’s service change post-RDR in respect of unbundled charges?
For more information on this please click here
If I hold unbundled funds when will the platform fee and adviser ongoing fee be debited from my account?
The FundsNetwork platform fee will be taken a month in arrears and will generally be debited from your account on the 15th of the month. This will be in the form of a sale of units from your largest fund holding although you can email us at firstname.lastname@example.org if you would prefer to specify another fund that you currently hold.
The Cavendish Online Ongoing Fee will be taken a month in arrears and will generally be debited from your account on the 11th of the month. This will be in the form of a sale of units from your largest fund holding although you can email us at email@example.com if you would prefer to specify another fund that you currently hold.
Will there be any exit charges if I decide to leave?
There are not any funds on our platform that would incur an exit charge if you were to move. There will also be no charges if you decided to transfer away from our platform in the future. For more information on exit charges please click here