Vanguard Standard Life vs Vanguard All World Degiro

C

Cyclingmagpie

Registered User
Messages
14
Hi All,

Just wondering is their any other hidden fees or T&C with the Vanguard Standard life product vs the Degiro product ?

- Vanguard Standard life fees - Having an annual management charge of 0.95%.
- Vanguard FTSE All-World ETF (Accumulating), IE00BK5BQT80, TER 0.22%, Euronext Amsterdam

So the benefit off Standard life is they do the taxes for you but you need to save minimum €500 monthly to avail off 101% allocation so why choose the hassle off Degiro for monthly saving vs Standard Life or what else am i missing ?
 
Last edited:
One other thing I think you are missing is the disadvantaged way Standard Life do the tax for you. On the 8yrs anniversary when the tax is due, they pay the tax by using money that's within the fund. They won't let you pay the tax from your own separate source of money from outside of the fund. This has an effect on the long term performance of the fund.

With Degiro, you can pay the tax from your own cash, etc and leave the fund alone. It's bad enough having to pay the deemed disposal without being forced to pay it by taking money from he fund itself.

This is the way I was told it is with Zurich anyway and their life products, you could maybe email Standard Life directly and ask this but I'd assume they're all the same. Best get a 2nd opinion in case I'm mistaken.
 
Racrus said:
With the Zurich funds at least, this is not an option. They don't let you pay the tax via alternative means like from your cash, it's taken directly from the fund, but also they don't let you top up the fund either. Well, they don't let you top up the bond type funds which were a single lump sum investment, if you wish to add more money you have to set up a new separate bond investment.
Click to expand...
This point did come up before. Fair enough, some of the life assurance companies may be restrictive on this.

And if the allocation rate was less than 101% it would be more expensive to pay the tax from your own source because of the 1% levy. In general money is fungible and with ETFs it's the same whether cashing in the fund or paying from your own cash, but not with life products.
 
Last edited:
Airgunster said:
Beware of Standard life's extreme slowness in support (they are very, very slow on responding to your queries / working on thei actions).
Click to expand...

delta_bravo said:
Not just customer support. I sent them a sales inquiry and they came back to me two weeks later
Click to expand...

Choosing to deal with them via an intermediary may have been a better option, but don't mention that to @Investor :)
 
delta_bravo said:
Not just customer support. I sent them a sales inquiry and they came back to me two weeks later
Click to expand...

Had this same experience tbh. Had to chase things up multiple times and took about 7-8 weeks in the finish to receive the final policy document
 
I find a big part of the problem with most financial services companies these days is that, you just can't get the staff. The younger generation do not appear to take much pride in their work - jobs are disposable to them.

I have some manager friends in life companies and they can't 'discipline staff' for a want of a better word - the snowflake generation need their safe spaces ya know. It's pure nonsense companies need to get tough - there should be an expected standard that people should be working towards.
 
How would you discipline a staff member? If someone isn't meeting their performance targets/objectives they could have a reduced bonus or be put on an improvement plan.

The days of a manager giving the hairdryer treatment in the middle of a busy office are long gone thankfully.
 
Corola said:
How would you discipline a staff member? If someone isn't meeting their performance targets/objectives they could have a reduced bonus or be put on an improvement plan.

The days of a manager giving the hairdryer treatment in the middle of a busy office are long gone thankfully.
Click to expand...
I'm not saying somebody needs a dressing down in public.

The improvement plans etc are grand but long drawn out, it's a very softly softly approach these days, managers are afraid to say boo, all the while some people work harder than others, people become disengaged etc.

An honest frank private discussion of pull up your socks never hurt anybody, you are working in an adult environment, expect to act like one and be treated like one.
 
Sarah Ryan said:
I find a big part of the problem with most financial services companies these days is that, you just can't get the staff. The younger generation do not appear to take much pride in their work - jobs are disposable to them.
Click to expand...
After almost a lifetime of dealing with organisational dysfunction, bureaucratic incompetence and inefficiency, too many toxic colleagues and the like I can't say that I blame them. I wish that I had figured that out earlier myself.
 
ClubMan said:
After almost a lifetime of dealing with organisational dysfunction, bureaucratic incompetence and inefficiency, too many toxic colleagues and the like I can't say that I blame them. I wish that I had figured that out earlier myself.
Click to expand...
I agree and disagree. I am in Customer Services over 25 years.

Younger people are lacking basic skills, afraid to pick up the phone and deal with an issue head on, always want to pass the buck. Not inquisitive enough to get to the real cause of a problem and figure it out for a customer.

Like ok, some customer services roles do not set your world on fire like getting content for Instagram - but would you not just want to do your best?

This is something I have encountered a lot in my own job and my experience contacting various companies after the death of a family member.
 
Sarah Ryan said:
I agree and disagree. I am in Customer Services over 25 years.

Younger people are lacking basic skills, afraid to pick up the phone and deal with an issue head on, always want to pass the buck. Not inquisitive enough to get to the real cause of a problem and figure it out for a customer.

Like ok, some customer services roles do not set your world on fire like getting content for Instagram - but would you not just want to do your best?

This is something I have encountered a lot in my own job and my experience contacting various companies after the death of a family member.
Click to expand...
All the decent ones have better jobs than customer service.
 
Fortune said:
All the decent ones have better jobs than customer service.
Click to expand...
Customer Service, whilst not exciting, it is an important job - do you think the CEO of Irish Life / Zurich etc know how to input a trade or a new business case? They are so far removed from the customer!

There needs to be more emphasis put on the role, take pride in your work etc.
 
Racrus said:
One other thing I think you are missing is the disadvantaged way Standard Life do the tax for you. On the 8yrs anniversary when the tax is due, they pay the tax by using money that's within the fund. They won't let you pay the tax from your own separate source of money from outside of the fund. This has an effect on the long term performance of the fund.

With Degiro, you can pay the tax from your own cash, etc and leave the fund alone. It's bad enough having to pay the deemed disposal without being forced to pay it by taking money from he fund itself.
Click to expand...
Many see this as an advantage. Especially if you are contributing on a monthly basis. Just start a direct debit and away you go, you don't have to do anything once the plan is in place, the contributions are taking from your bank account, invested by the fund manager and tax paid by the administrator. Yes, the cost is higher than doing it yourself, that is because you are outsourcing all the work to someone else.

Regarding service, Standard Life are one of the better companies out there. As they are mainly deal with the broker market, maybe their resources are more focused there than on direct sales. But they are definitely much better than most of the others.


Steven
http://www.bluewaterfp.ie (www.bluewaterfp.ie)
 
Sarah Ryan said:
Customer Service, whilst not exciting, it is an important job - do you think the CEO of Irish Life / Zurich etc know how to input a trade or a new business case? They are so far removed from the customer!

There needs to be more emphasis put on the role, take pride in your work etc.
Click to expand...
From what I heard Sarah is that a lot of people working in customer/ broker service left the industry altogether and for better paying jobs. Whereas in the past, there was always a big enough pool of candidates moving between the various companies, that pool has shrunk considerably.

Then taking on recruits with no experience, they have to be trained, so the experienced ones are getting less work done as they are spending more time training people, who end up not staying.

In saying that, some companies have been so bad for so long, there has to be more going on than just the salary scales of staff in broker service.
 
Steven Barrett said:
From what I heard Sarah is that a lot of people working in customer/ broker service left the industry altogether and for better paying jobs. Whereas in the past, there was always a big enough pool of candidates moving between the various companies, that pool has shrunk considerably.

Then taking on recruits with no experience, they have to be trained, so the experienced ones are getting less work done as they are spending more time training people, who end up not staying.

In saying that, some companies have been so bad for so long, there has to be more going on than just the salary scales of staff in broker service.
Click to expand...
I couldn't agree with you more.

Sadly Customer Service should be a better paying job, you are the gate keeper, you run the show - not the board of management.
Without a CSD function there is NO company.
 
Sorry, I was mistaken, I did warn in advance that I may be wrong though. I confused what the OP asked about, a monthly contribution plan with a Lump sum investment. The one off lump sum investment option is what I was thinking of, it has the disadvantage of the tax been taken out of the fund with no option to pay it from your separate cash.
 
Update : It took 2 weeks from first email to Standard Life until i received the on Cover pack in the post, Customer service was actually excellent through out.

Alan responded to my many questions with in a few hours and was very helpful & courteous.

You need to invest €500 a month to get the 101% allocation and but be ware of early withdrawals or closure as some fees apply.

overall great experience and suits me not worrying about taxes & large fees etc
 
You must log in or register to reply here.
Back
Top