Originally Posted by
justakiwi
That's what I thought too but the Foundation Series SP500 appears to be USF (which is Smartshares) yet the buy and sell fee is 0.5%.
It is what it is. I'm not going to rant about it forever, but I do believe Sharesies customers' current disappointment/anger, is justified. I note that a "certain person" who shall remain nameless but not anonymous by any means, is taking great delight in accusing me/us of being "entitled" whingers (obviously reading this thread), and implying that Sharesies might be a good place for him to invest his large bucket of money, given the fees are so low on the plans. Yeah right. Like he is ever going to do that to any great extent. Just the usual meaningless bluster.
Nobody is acting "entitled" and nobody is whinging. We are expressing our feelings about the changes, as is our right as customers. Sharesies set the platform up for small investors. Now that those small investors have helped build the platform and get Sharesies off the ground, they have apparently had a significant change of philosophy, and are now more interested in pandering to the large investors, who are the ones who stand to benefit from the monthly plans.
This isn't really even about the money. It is about principles, loyalty and trust. Once you lose sight of your principles, take your customers for granted, and lose their trust - your chances of ever winning them back are close to zilch.