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What's the best Stocks and Share ISA provider for small amounts?

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    #21
    Originally posted by jmo21 View Post
    Just moved my SIPP from HL to II. Didn't have to do that.
    That was exactly what I was trying to do as I’ve exceeded the break point where II is cheaper.
    I’ll try again.
    See You Next Tuesday

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      #22
      I would just like to point out that at II you get one free trade credit per month which mostly off sets the monthly fee. And if you invest monthly, the trade is free of charge. II is insanely cheap if you have a reasonable size pot. I highly recommend them. Reviews saying their customer service is not upto scratch are likely out of date. They had a period where they were inundated with transfer in requests and they struggled to scale up quickly enough. But they are well on top of their game now.

      For a % fee provider, AJ Bell takes some beating but monthly investments can work out rather expensive if you invest into multiple investments each month.
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        #23
        Originally posted by Lance View Post
        That was exactly what I was trying to do as I’ve exceeded the break point where II is cheaper.
        I’ll try again.
        Highly recommended. If I had stayed with HL I would be paying around £200 a month to them for holding my investments. I moved to II around 6 years ago. The saving on fees is astonishing.
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          #24
          Originally posted by Fred Bloggs View Post
          Highly recommended. If I had stayed with HL I would be paying around £200 a month to them for holding my investments. I moved to II around 6 years ago. The saving on fees is astonishing.
          For a large fund portfolio, this move is, as you say, a no-brainer.

          A £200 pm platform fee with HL would translate to a fund portfolio of around £750k given the first £250k is charged at 0.45% and the next £750k is charged at 0.25%.

          However, for shares, investment trusts and ETFs held in ISA or SIPP with HL, the difference between II and HL is marginal given that HL caps ISA charges at £45 p.a. and SIPP charges at £200 p.a..

          Unless you are referring to the total charges including those charged by the manager of the underlying holdings? in which case these charges will be pretty much identical with II.

          Long story short, I can't think of one scenario where holding funds with HL makes sense but with a share, ETF and IT portfolio, they're pretty decent.
          Last edited by sludgesurfer; 11 February 2021, 21:38.

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            #25
            Originally posted by sludgesurfer View Post
            For a large fund portfolio, this move is, as you say, a no-brainer.

            A £200 pm platform fee with HL would translate to a fund portfolio of around £750k given the first £250k is charged at 0.45% and the next £750k is charged at 0.25%.

            However, for shares, investment trusts and ETFs held in ISA or SIPP with HL, the difference between II and HL is marginal given that HL caps ISA charges at £45 and SIPP charges at £200.

            Unless you are referring to the total charges including those charged by the manager of the underlying holdings? in which case these charges will be pretty much identical with II.

            Long story short, I can't think of one scenario where holding funds with HL makes sense but with a share, ETF and IT portfolio, they're pretty decent.
            Not quite true. HL regard an ISA and a SIPP as separate pots of money. So they charge 0.45% on the first £250k of an ISA and 0.45% of the first £250k in the SIPP too. So, potentially £500k gets walloped with the full 0.45% charge. It's true, check it out. There are no underlying charges on regular shares but yes, you are right to point out that HL cap charges. But only if you choose not to invest in OEICs, which after all said and done, are generally the first choice of most retail investors. Myself, I will not allow the charges tail to wag the investments dog. If I did so then I wouldn't be able to hold some of my favourite investments since to do so at HL would be runiously expensive. I have no issue of course, should folks choose HL as their platform for investments. But they will be one of the most expensive options for a great many investors. For lesser sums, AJ Bell is a great choice too at about half the price of HL with no charges based issues with buying OEICs.
            Public Service Posting by the BBC - Bloggs Bulls**t Corp.
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              #26
              Originally posted by Fred Bloggs View Post
              Not quite true. HL regard an ISA and a SIPP as separate pots of money. So they charge 0.45% on the first £250k of an ISA and 0.45% of the first £250k in the SIPP too. So, potentially £500k gets walloped with the full 0.45% charge. It's true, check it out. There are no underlying charges on regular shares but yes, you are right to point out that HL cap charges. But only if you choose not to invest in OEICs, which after all said and done, are generally the first choice of most retail investors. Myself, I will not allow the charges tail to wag the investments dog. If I did so then I wouldn't be able to hold some of my favourite investments since to do so at HL would be runiously expensive. I have no issue of course, should folks choose HL as their platform for investments. But they will be one of the most expensive options for a great many investors. For lesser sums, AJ Bell is a great choice too at about half the price of HL with no charges based issues with buying OEICs.
              Thanks for clarifying. You're quite correct - 0.45% on the first £250k of both an ISA and a SIPP. £2,250 in platform fees alone even before trading costs and managent fees of the underlying holdings. I can only assume they rely on fund holders ignorance and/or people buying their PR guff on loyalty bonuses etc.. although to be fair to them, they have improved the breakdown of the fees in recent years. HL provide a cash cost in pounds and pence of the underlying holding TER with their annual report - a detail which I've yet to find with the reports I get from Iweb.

              I have a SIPP and ISA holding shares, ETFs and ITs with HL and a fund based SIPP with Iweb, although I could probably find everything I need in the ETF and IT universe. I try keep things pretty simple - core passive holdings with some ITs, factor ETFs and the odd individual share. As the amounts have gotten larger, I increasingly prefer greater diversification across different providers and asset classes.

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                #27
                Originally posted by jmo21 View Post
                Just moved my SIPP from HL to II. Didn't have to do that.
                That's probably going to be my plan. What's the interface like? All the same stocks and funds available?
                'CUK forum personality of 2011 - Winner - Yes really!!!!

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                  #28
                  Originally posted by northernladuk View Post
                  That's probably going to be my plan. What's the interface like? All the same stocks and funds available?
                  Not as slick as HL, but then, nowhere is. (Though HL's slick website does rather alarmingly sometimes have incorrect or out of date information about dividends etc... More than you'd think without really looking). II is a whole of market retail platform, not restricted in any way. And the website is still improving since they are continuing to expand by acquisition. They are now #2 retail platform behind HL in the UK. All the information and more, is there at the II website and their customer service has got a lot better the last year or two. What I often point out is that as a non account holder at HL you can do everything you always did except to trade with them. I often use their website for a glance at stocks - Google for "HL RDSB" for example, finds HL's page about Shell. You owe it to yourself to save a packet on monthly fees. If you invest monthly at II the trades are free. And you still get one other free trade credit per month. No connection tyo II or AJ Bell other than a satisfied customer of both platforms.
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                    #29
                    Originally posted by sludgesurfer View Post
                    I have a SIPP and ISA holding shares, ETFs and ITs with HL and a fund based SIPP with Iweb, although I could probably find everything I need in the ETF and IT universe. I try keep things pretty simple - core passive holdings with some ITs, factor ETFs and the odd individual share. As the amounts have gotten larger, I increasingly prefer greater diversification across different providers and asset classes.
                    I switched to IWeb to hold the 0.05-0.07% cost funds but have ditched funds completely now due to the delayed sale aspect, even if it is priced the same day it's an uncomfortable wait compared to selling an ETF. I can't see any reason to use funds any more as you can cover everything with ITs and ETFs !? If you trade a lot then I don't think you'll beat IWeb. For research I used to use an old empty HL account but have gradually stopped using it. Mmmmm, II have got cheaper now, so maybe are the cheapest.
                    Last edited by rootsnall; 12 February 2021, 10:19.

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                      #30
                      Originally posted by rootsnall View Post
                      I switched to IWeb to hold the 0.05-0.07% cost funds but have ditched funds completely now due to the delayed sale aspect, even if it is priced the same day it's an uncomfortable wait compared to selling an ETF. I can't see any reason to use funds any more as you can cover everything with ITs and ETFs !? If you trade a lot then I don't think you'll beat IWeb. For research I used to use an old empty HL account but have gradually stopped using it. Mmmmm, II have got cheaper now, so maybe are the cheapest.
                      Indeed, but due diligence is required here. II have three service plan levels depending on how active you are, you need to check which is best for you. HTH.
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