Servicing agents set up ISA, do I have to keep paying them a dividend forever

[whataboutbob]

Just that really. Back in the 90s I inherited a small amount from my mum and put it in an ISA on the advice of a financial advisor my friend recommended. There’s a few thousand in there. I notice I am still paying them, although the statements do not show how much they get. Is there any way to stop this ongoing payment to them? Thanks.

Just answered my own question- it was as simple as ringing them and asking them to remove the agents. Should have done it years ago.

This is why I am so anti financial advisors! How many people must be paying over the odds and paying trail commission for years to come??

Can I helpfully suggest you use this as an opportunity to review your investments in this ISA, assuming it is Stocks & Shares. There are so many good cheap tracker funds available now that will be far cheaper for you than managed funds.

@savvy7 as it’s now illegal to do this, you may feel less antipathy

Can you get a refund from the financial advisors for all those years of fees? It sounds like they should not have been receiving these amounts?

I’m surprised the fees weren’t turned off with the sunset clause, perhaps you should have received ongoing advice. If so, you could request a refund.