Unbundled Platforms

Totton · 26 June 2011 at 8:20PM

JamesU wrote: »

Think Totton wanted an alternative to Hargreaves Lansdowne to hold funds and ITs under the same umbrella, but with better rebates on the funds held, and without the additional 0.5%/yr charged on ITs at HL. Alliance Trust definitely worth considering instead of Hargreaves Lansdowne for this.

Thanks very much everyone, great help to me. I'm looking for a fund service on a par with that from HL without the expensive £200 fee for ISA's holding Investment Trusts, that's £400 per year for the wife and I which seems expensive considering there are also the dealing and stamp duty fees to add.

Thanks again,
Mickey

JamesU · 9 July 2011 at 5:06PM

Totton wrote: »

Thanks very much everyone, great help to me. I'm looking for a fund service on a par with that from HL without the expensive £200 fee for ISA's holding Investment Trusts, that's £400 per year for the wife and I which seems expensive considering there are also the dealing and stamp duty fees to add.Thanks again, Mickey

i-Dealing probably not an option for your ITs in that case. They provide an efficient no frills and good value service, but there is no dedicated customer telephone support as such, except when you e-mail on trading enquiries and/or stock additions when they often phone back.

JamesU

cepheus · 9 July 2011 at 9:52PM

JamesU wrote: »

i-Dealing probably not an option for your ITs in that case. They provide an efficient no frills and good value service, but there is no dedicated customer telephone support as such, except when you e-mail on trading enquiries and/or stock additions when they often phone back.

JamesU

They certainly don't like to display telephone numbers, but here's one
http://www.idealing.com/sales/jacket.jsp?salesPage=contact.jsp

I also remember calling them frequently for deals in companies with low NMS. Sure they will give you a number if you ask.

bigfreddiel · 10 July 2011 at 12:03AM

Totton wrote: »

Are there any unbundled platforms available to the private investor? Currently I use HL but am looking at alternative due their charges for my ISA which holds IT's (£200 pa)

cavendish online

masonic · 10 July 2011 at 12:14AM

bigfreddiel wrote: »

cavendish online

Looking at their charges, it doesn't appear that they rebate any of the platform commission. On Invesco Perpetual Income, for example, they are just rebating the 0.5% IFA commission - just as others, such as Alliance Trust, do.

bigfreddiel · 10 July 2011 at 12:26AM

masonic wrote: »

Looking at their charges, it doesn't appear that they rebate any of the platform commission. On Invesco Perpetual Income, for example, they are just rebating the 0.5% IFA commission - just as others, such as Alliance Trust, do.

r u entirely sure?

masonic · 10 July 2011 at 12:34AM

bigfreddiel wrote: »

r u entirely sure?

I checked their website before posting and the information there is clear. As dunstonh said very early in the thread, the AMC for Invesco Perpetual High Income in an unbundled platform would be around 0.75%. The charge at Cavendish is 1.5% with a 0.5% rebate. The difference is a hidden commission that they are keeping.

dunstonh · 10 July 2011 at 1:06AM

Cavendish uses a bundled platform.

JamesU · 10 July 2011 at 4:09PM

masonic wrote: »

I checked their website before posting and the information there is clear. As dunstonh said very early in the thread, the AMC for Invesco Perpetual High Income in an unbundled platform would be around 0.75%. The charge at Cavendish is 1.5% with a 0.5% rebate. The difference is a hidden commission that they are keeping.

Yes, a cryptic 0.25% lost or thereabouts within the platform charge at both Alliance and Cavendish (cofunds) for Invesco perpetual high income. When I looked into this some time ago, Alliance seemed more competitive on many funds though (just rechecked), albeit with a more restricted range, examples:

Investec emerging market debt
Alliance trust: 1.5% (0.75% rebate) = 0.75%
Cavendish (cofunds): 1.5% (0.5% rebate) = 1.0%
Hargreaves Lansdowne: 1.5% (0.1% rebate) = 1.4%

Aberdeen emerging markets
Alliance trust: 1.5% (0.75% rebate) = 0.75%
Cavendish (cofunds): 1.75% (0.5% rebate) = 1.25% (also +0.25% initial)
Hargreaves Lansdowne: 1.75% (0.25% rebate) = 1.5%

JamesU

dunstonh · 10 July 2011 at 4:53PM

One of the things I like about unbundled platforms is that they can divert the charges from the ISA to the general investment account (GIA) - where your unwrapped holdings and cash account are. Yet the rebates back from commission paying funds can go back into the ISA without using up any ISA allowance.

Unbundled Platforms

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