ISA S&S - HL vs CS

movilogo
movilogo Posts: 3,186 Forumite
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in Savings & investments
I am trying to decide between Hargreaves Lansdown and Charles Stanley for ISA S&S

Amount to be invested £10k

option 1:
HL readymade portfolio for balanced income
http://www.hl.co.uk/investment-services/isa/ready-made-isa/portfolio-plus

Platform charge 0.45%, OCF/TER = 1.33%

option 2:
Charles Stanley ISA S&S
https://www.charles-stanley-direct.co.uk/Our_Services/ISA/

Unlike HL, here I can't see all the charges.

All I can see platform charge 0.25% but then how do I see the OCF/TER etc?

Can I select same OEIC funds from either HL or CS?
Happiness is buying an item and then not checking its price after a month to discover it was reduced further.
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Comments

  • Linton
    Linton Posts: 17,135 Forumite
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    OCF/TER are fund dependent charges made by the fund manager, usually they will be the same for any platform.

    Most platforms, especially the major ones, will provide any funds you are likely to want - it is fairly rare for something not to be available.
  • ColdIron
    ColdIron Posts: 9,016 Forumite
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    With HL you are looking at an ISA, which is just a tax wrapper, that charges 0.45% for any funds that it may contain and also a selection of their in house (and very expensive) funds

    With CSD you are just looking at the ISA tax wrapper. You will need to select one or more funds for it to contain before you can see the OCF(s)

    You should really work out what your objective is, select the investments that match that objective and then, and only then, choose a platform that best provides those investments. It should be your final, not first, decision

    With respect I suggest you make no ISA or fund choices until you have got your head around fundamental issues such as these or you will come a cropper
  • Lokolo
    Lokolo Posts: 20,861 Forumite
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    This is not a recommendation, but CSD also have their own ready made portfolios which you can find here, imo they are very expensive for what they are.

    https://www.charles-stanley-direct.co.uk/Invest/Multi_Asset_Funds/

    As others above has said, you are currently looking at a HL created fund. If you look for any non-platform specific, for example Henderson Global Growth Acc Class I

    http://www.hl.co.uk/funds/fund-discounts,-prices--and--factsheets/search-results/h/henderson-global-growth-class-i-accumulation

    https://www.charles-stanley-direct.co.uk/ViewFund?Sedol=B68SFJ1&Isin=GB00B68SFJ13

    They are both available in both platforms, both have the same OCR (I suspect rounding differences between 0.84%/0.85%). So the only cost difference to you if you purchased this fund, would be the platform cost.

    You can have different classes of funds, this is class I. Different classes, different charging structures. Some platforms have cheaper than usual class.
  • movilogo
    movilogo Posts: 3,186 Forumite
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    imo they are very expensive for what they are.

    Why do you say that? This is the exact type of questions I am trying to find an answer. How do I compare one fund with another?

    Also, is total cost = platform charge + OCF/TER + AMC ?
    Happiness is buying an item and then not checking its price after a month to discover it was reduced further.
  • ColdIron
    ColdIron Posts: 9,016 Forumite
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    movilogo wrote: »
    Also, is total cost = platform charge + OCF/TER + AMC ?
    No

    It is platform charge + OCF
    TER and AMC are old fashioned terms that did not fully express the fund charges and have been replaced with OCF
  • Lokolo
    Lokolo Posts: 20,861 Forumite
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    movilogo wrote: »
    Why do you say that? This is the exact type of questions I am trying to find an answer. How do I compare one fund with another?

    Also, is total cost = platform charge + OCF/TER + AMC ?

    Total cost = platform + OCF
    CSD wrote:
    Each fund has an annual charge (known as the OCF or 'Ongoing Charges Figure') as shown in the table above. This represents the costs of running the fund including management and administration charges, and the charges for any funds held within each fund.
  • movilogo
    movilogo Posts: 3,186 Forumite
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    I am new to this and it is a minefield. :o

    This page has good write up of what to look for funds while choosing.

    http://moneytothemasses.com/saving-for-your-future/12-things-to-look-for-when-choosing-an-investment-fund
    Happiness is buying an item and then not checking its price after a month to discover it was reduced further.
  • Lokolo
    Lokolo Posts: 20,861 Forumite
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    edited 5 December 2017 at 12:45PM
    imo your best bet is to learn about the funds and the asset types, IA sectors. This will give you a good idea of what sort of portfolio you would want.

    You can then pick funds to match up to your asset type of portfolio.

    You can then compare the costs of the different platforms.

    Example of my SIPP portfolio:

    20% UK Large Cap (Index)
    10% UK Small/Mid Cap
    24% Europe ex UK Large Cap
    18% US Large Cap (Index)
    10% Asia inc Jap
    10% Emerging Markets
    5% High Yield Bond (this may change to a technology based fund when I feel there has been a correction in the market)

    My total OCF for this is 0.85%, plus CSD platform charge of 0.25% means my total cost is 1.10%. When my portfolio gets large enough I suspect I will move to a fixed fee platform where I can get my total cost <1%.

    Something to play with - http://tools.morningstar.co.uk/uk/fundscreener/default.aspx?Site=uk&LanguageId=en-GB

    I definitely recommend you maybe find a sector and area you think you want your portfolio to have in it, play with the fund screener. Once you have a fund you can have a look at HL and CSD and see if they offer it.
  • movilogo
    movilogo Posts: 3,186 Forumite
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    Is it a specific fund you are using or custom made?
    Happiness is buying an item and then not checking its price after a month to discover it was reduced further.
  • Lokolo
    Lokolo Posts: 20,861 Forumite
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    edited 5 December 2017 at 1:03PM
    My portfolio is custom made.

    20% - iShares UK Equity Index (UK) D Fund Acc
    10% - Old Mutual UK Smaller Cos U1 Fund Acc
    24% - Man GLG Continental European Grwth Prof C Fund Acc
    18% - iShares Nth American Equity Index (UK) D Fund Acc
    10% - Invesco Perpetual Pacific Y Fund Acc
    10% - Lazard Emerging Markets I Fund Acc
    -5% - Schroder High Yield Opportunities Z Fund Acc
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