Cavendish Online v HL

Chloe_G
Chloe_G Posts: 317 Forumite
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in Savings & investments
Would Cavendish Online be cheaper and better for me? I have 3 funds of approx £10K each, won't be looking for any more purchases but will prob. put £20K in an S&S ISA in 2018/19. Thanks.

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  • StellaN
    StellaN Posts: 354 Forumite
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    Chloe_G wrote: »
    Would Cavendish Online be cheaper and better for me? I have 3 funds of approx £10K each, won't be looking for any more purchases but will prob. put £20K in an S&S ISA in 2018/19. Thanks.

    Use Snowman's spreadsheet or comparethefundplatforms but I think iWeb or Halifax Sharedealing are difficult to beat.
  • Superscrooge
    Superscrooge Posts: 1,171 Forumite
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    The below article might help you decide?

    HL is easily the most popular platform and has a reputation for excellent customer service. But it certainly isn't the cheapest.

    https://moneyweek.com/the-best-brokers-for-your-isa/
  • jimjames
    jimjames Posts: 17,596 Forumite
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    I can't answer the better part but 0.25% vs 0.45% will definitely be cheaper as long as the funds in HL don't have a massive discount
    Remember the saying: if it looks too good to be true it almost certainly is.
  • cloud_dog
    cloud_dog Posts: 6,043 Forumite
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    Chloe_G wrote: »
    Would Cavendish Online be cheaper and better for me? I have 3 funds of approx £10K each, won't be looking for any more purchases but will prob. put £20K in an S&S ISA in 2018/19. Thanks.
    So you are looking at approx £50k in there in possibly six months time. And, you indicate that you are not an active trader soooo for Cavendish it would be £125 per year or with iWeb (for example) it would be an initial charge of £25 (to open) and then zero ongoing charges plus dealing costs of £5 per transaction. You do the maths.

    Just FYI...iWeb sometimes struggle to offer funds that other service providers cover so, if you do look at them you probably want to confirm they have the funds you want.
    Personal Responsibility - Sad but True :D

    Sometimes.... I am like a dog with a bone
  • badger09
    badger09 Posts: 11,201 Forumite
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    Another vote for IWeb, assuming they offer the funds you hold & want to buy.
  • Rollinghome
    Rollinghome Posts: 2,676 Forumite
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    Chloe_G wrote: »
    Would Cavendish Online be cheaper and better for me? I have 3 funds of approx £10K each, won't be looking for any more purchases but will prob. put £20K in an S&S ISA in 2018/19. Thanks.
    For most people with £50k+, IWeb is a decent option. A useful feature of Cavendish/Fidelity is that they make no charge for transfers to another platform. Unlike HL and Iweb.

    So you could use Cavendish and if you wanted to move again, transfer to IWeb after doing your topups or transfer to HL to get one of their frequent cashback offers for transfers in.

    But where are you transfering from and how much will they charge you to leave?
  • Chloe_G
    Chloe_G Posts: 317 Forumite
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    I've got to move from Old Mutual Investment Group - the transfer will be free. They have sent me a form for HL but I think it's a bit expensive. I also have two other funds direct with the Fund Managers but if I have to have a platform for the OM fund I'm thinking it might be cost effective to move the other two funds to the platform as well. Trouble with me is - once I start researching all the pros and cons, I find it very difficult to make a choice!! Whatever I do, I'll end up thinking I've done the wrong thing.
  • Howzy64
    Howzy64 Posts: 4 Newbie
    I've had a play with Snowmans spreadsheet and it is helpful. However, beware, most HL funds have share classes which have discounted fees. I believe some are exclusive to HL. This results in reduced TER. The spreadsheet cannot factor this in because there are too many variations. A quick example, Fund "A" has a share class "I" with a TER of 0.8%. HL loyalty bonus brings it down to 0.7%. Now the difference between say Cavendish and HL platform fees is 0.2% and HL are giving 0.1% in loyalty. Not much of a difference left and then you have to consider any other charges, depending on your activity. HL look expensive at the headline level but it's not actually that simple. You'll need to look at your specific portfolio and work it out ... or plump for the platform you like the look and feel of and think you can trust to serve you well. Hope this helps.
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