Best investment platform (non-ISA) for passive investing.

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lonewolf123
lonewolf123 Posts: 91 Forumite
in Savings & investments
Hi I have maxed out my S&S isa this year but have some extra money to put in my passive investing portfolio (approximately £15k).

I currently use cavendish online for my S&S ISA but I can't contribute anymore to it.

Should I carry on using these guys for my to open a non-ISA account or should I go elsewhere to open it?

As I've been told that charges and fees for a non-ISA account could be different to charges and fees within an ISA account.

Thanks guys

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  • masonic
    masonic Posts: 23,275 Forumite
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    It doesn't hurt to use a different provider for some of your investments to spread your platform risk, although I wouldn't see it as being very important to do so. Since Cavendish makes a percentage-based platform charge I believe, and others offer slightly lower charges, it could make sense to go elsewhere up to the point where you have enough invested to opt for a flat fee platform and may wish to consolidate.

    In the main, charges for ISA and non-ISA accounts tend to be about the same. Some providers have small differences.
  • bigadaj
    bigadaj Posts: 11,531 Forumite
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    Have a look on monevator or there is comparefundplatforms, both will indicate which is the cheapest broker or platform for the sums and type of investments you are looking at.

    You might also have to consider things like transfer fees in future if or when your holdings grow and you invest further.

    One thing which is difficult to determine is service levels and even personal preference of website use, so try and look at this as well. There is a long running thread here on complaints about interactive investors service levels, though they are very cheap, for example.
  • dunstonh
    dunstonh Posts: 116,371 Forumite
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    The idea of platforms is to act as a consolidated administration platform for all your tax wrappers. If you start spreading your wrappers over different platforms, then you miss one of the key advantages.

    Will you be planning to do bed & ISA in future?
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
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