Sidekick
FEES & CHARGES
Last reviewed and updated on 9th October 2024
We’re committed to keeping costs low and transparent so you can build long-term wealth
This is a simple guide to how we charge for our services so our customers can easily calculate exactly what they’re likely to pay. We know that fees and charges are an important part of financial decisions. Sidekick’s pricing has been created with reference to the wider market and developed with fairness, simplicity and transparency at the core. Let us know if you have any questions.
Sidekick Fees
Membership Fee
For non-Founding Members, we intent to charge a monthly Membership fee to cover access to our wider app features, including investment content and concierge.
- £2.99 per month
- Waived for Founding Members, for life!
Investment Management Fees - Flagship portfolio
This is the cost you pay to Sidekick, for an active team of investment managers (your Sidekicks), who are working tirelessly to find and invest in the best opportunities on your behalf.
- 1.00% AuM Fee (inc VAT) up to £100k
- 0.75% AuM (inc VAT) on any funds above £100k
- We charge our investment AUM fees on a monthly basis; they are calculated on the daily average market value of all of your Sidekick portfolios in the previous month.
- We will communicate this to our customers before they invest, on at least an annual basis and when any material changes are made.
- All fees will be deducted from the cash amount within your portfolio(s) wherever possible
- It’s important to remember that tax treatment depends on your individual circumstances and is subject to change, please seek specialist advice if you are unsure on how this works.
Trading & Product Fees
What we don't charge for
- NO custody fees
- NO foreign exchange (FX) fees - £0
- NO execution fees
What we pass through
- Any ADRs contained within the strategy will have additional fees (varies by ADR), this is typically 1-3c.
- Any ETFs contained within the portfolio will incur annual fund fees which cover the ETF fund management and transaction costs. They are charged by the ETF not by Sidekick and are deducted from the value of your investments and are subject to change.
- When we buy and sell assets on your behalf, the value of the price we pay will be impacted by "market spread". This is the difference between the price to buy and the price to sell - this can have have an impact on fees. We estimate this to be ~0.10%
Government & Ancillary Fees
Our ultimate aim is to keep fees to a minimum for our customers. Sometimes, this not within our control and they are charged by other parties (such as the UK Government).
Government fees and Taxes
- UK Stamp Duty: 0.5% (applied by the UK Government when buying UK stocks electronically)
- UK PTM Levy: £1 on trades above £10k
- US SEC Fee: $8 per $1 million with a minimum fee of 2c (applied when selling US shares)
- FINRA TAF Fee: $0.000130 per share (up to a max of $6.49 per trade)
These pass-through fees are subject to change and will be adjusted according to modifications by the Regulatory Authority.
Ancillary fees charged by our custodians
Certain client requests may result in ancillary fees (e.g., transferring portfolios, paper statements, etc). Below is the full fee schedule for these uncommon ancillary fees.
- ACAT Outgoing and Transfers (Internal Stock and Cash Transfers): $65.00 per account
- DTC Deliveries/Receives: $35.00 per position
- DWAC Transfer: $130.00 per position
- DRS Transfer: $55.00 per position
- Tax document request: $5 per request
- Physical Copy of Trade Confirmations: $5 per confirmation
- Physical Copy of Monthly Account Statements: $5 per statement
Fees & Charges example
Customer A (not a Founding Member)
Invests £50,000 into Flagship at the start of the year and does not deposit or withdraw any of the investment.
Using an indicative average annual investment return of 5%. The example is illustrative only, the exact AUM will vary depending on individual circumstances.
- Customer A would pay a total AUM fee of 1% of their portfolio which would be £513.75, which includes £102.75 of VAT
- Customer A will also pay a monthly fee of £2.99 which is £35.88
- Customer A would pay estimated product, government and ancillary fees of 0.10%, which would be £51.38
- Total: £601.01, inc VAT (1.20%)
