i like your approach - i, like you, am not a fan of % of funds under management - if the fund value was 500k or 2m, if invested in the same manner, the fee charged for advice in most cases should be the same
2% of say 1m is a huge slice particularly if very passively managed
that being said, to your overall cost at 0.25% is very lean and an excellent result (don't answer this but i would presume your fund is quite a reasonable size)
as an indicative guide, i feel that 0.40% /500k is reasonable but this generally reduces significantly as the fund value increases (subject to investment styles)
