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  • FIRST POST
    • Audaxer
    • By Audaxer 19th Mar 17, 11:08 PM
    • 99Posts
    • 13Thanks
    Audaxer
    Halifax Share Dealing - best flat fee provider?
    • #1
    • 19th Mar 17, 11:08 PM
    Halifax Share Dealing - best flat fee provider? 19th Mar 17 at 11:08 PM
    Looking at comparison tables and Snowmanís spreadsheet, Halifax Share Dealing with a flat admin fee of only £12.50 per annum is by far the cheapest platform for me when compared to most others. As I am starting with a large investment, including an ISA transfer, into one fund (probably a VLS40) with very few other annual trades planned, it seemed a no-brainer to go with Halifax in my situation.

    However Iíve now read some reviews saying their service was poor and some reviewers experienced problems that Halifax were slow to sort out or couldnít fix. The reviews were from about 4 or 5 years ago, so not sure if any problems have now been ironed out? Iíd be interested to hear views from anyone who currently uses them.

    If I donít go for Halifax, what other brokers with a flat platform fee would you recommend Ė it doesnít have to be the cheapest but not keen to pay for a percentage fee provider. Iím looking for a reliable provider (preferably not just web-only) with very good customer service, should any problems occur.
Page 2
    • greenglide
    • By greenglide 20th Mar 17, 7:05 PM
    • 2,586 Posts
    • 1,631 Thanks
    greenglide
    and its great with the £45 capped annual charge
    Of course you can use TD Direct which is free for shares (including ITs and ETFs) for amounts of £5,100 and above in an ISA.

    Youinvest charges for shares in an ISA is 0.25% which is capped at £7.50 per quarter which is £30 per year.

    Both are less than HL and their charges are calculated over the whole platform holding rather than on the individual type (ISA, unwrapped etc) that HL use.
    Last edited by greenglide; 20-03-2017 at 7:05 PM. Reason: typo
    • george4064
    • By george4064 21st Mar 17, 9:05 PM
    • 719 Posts
    • 766 Thanks
    george4064
    Of course you can use TD Direct which is free for shares (including ITs and ETFs) for amounts of £5,100 and above in an ISA.

    Youinvest charges for shares in an ISA is 0.25% which is capped at £7.50 per quarter which is £30 per year.

    Both are less than HL and their charges are calculated over the whole platform holding rather than on the individual type (ISA, unwrapped etc) that HL use.
    Originally posted by greenglide
    Ive looked very much into youInvest, but unfortunately I wouldnt be able to automatically reinvest dividends for a lot of my holdings which would cost loads.

    With regard to TD Direct, is the dividend reinvestment a fixed fee of £1.50? Also, is there a specific list of stocks that are eligible for automtic dividend reinvestment?
    Last edited by george4064; 21-03-2017 at 9:07 PM.
    "If you arenít willing to own a stock for ten years, donít even think about owning it for ten minutesĒ Warren Buffett

    Save £12k in 2016 - #045 £10,358.81/£12,000 (86%)
    Save £12k in 2017 - #003 £4,318.78/£12,000 (36%)
    • greenglide
    • By greenglide 21st Mar 17, 11:26 PM
    • 2,586 Posts
    • 1,631 Thanks
    greenglide
    Dividend reinvestment for shares is a right pain (IMHO) because of the costs unless a truly staggering amount is held in each investment. This is made worse by the holding with an intention of capital appreciation where the dividends may be relatively small. Automatic reinvestment of a dividend of say, £35, which a charge of say, £1.50 is far from ideal.

    Since these small amounts would not be significant in how they are invested what I do is each month I use the regular investment facility to invest all the months dividends into a single fund - not always the same one.

    A £1.50 fee to reinvest an amount of £150 or so each month is acceptable (to me) but does require changing the regular invesment details every month.

    I thought that both youinvest and TD did reinvestment for virtually all their ITs and shares and it was their regular investments that were limited to a selection?
    • george4064
    • By george4064 22nd Mar 17, 8:51 AM
    • 719 Posts
    • 766 Thanks
    george4064
    Dividend reinvestment for shares is a right pain (IMHO) because of the costs unless a truly staggering amount is held in each investment. This is made worse by the holding with an intention of capital appreciation where the dividends may be relatively small. Automatic reinvestment of a dividend of say, £35, which a charge of say, £1.50 is far from ideal.

    Since these small amounts would not be significant in how they are invested what I do is each month I use the regular investment facility to invest all the months dividends into a single fund - not always the same one.

    A £1.50 fee to reinvest an amount of £150 or so each month is acceptable (to me) but does require changing the regular invesment details every month.

    I thought that both youinvest and TD did reinvestment for virtually all their ITs and shares and it was their regular investments that were limited to a selection?
    Originally posted by greenglide
    I appreciate the reply, I have sent an email to YouInvest to confirm. It seems YouInvest are a better option for me to potentially transfer to because they will reimburse up to £500 of any transfer costs, it seems TD dont have a transfer in offer available currently.

    I have an AIM share which produces a healthy dividend. YouInvest have previously stated that it isnt included in the regular investment service because it is listed on AIM (and therefore thinly traded I assume). So I will check if this is still the case and also check if it is eligible for the dividend reinvestment service.
    Last edited by george4064; 22-03-2017 at 8:52 AM. Reason: Typo
    "If you arenít willing to own a stock for ten years, donít even think about owning it for ten minutesĒ Warren Buffett

    Save £12k in 2016 - #045 £10,358.81/£12,000 (86%)
    Save £12k in 2017 - #003 £4,318.78/£12,000 (36%)
    • greenglide
    • By greenglide 22nd Mar 17, 11:09 AM
    • 2,586 Posts
    • 1,631 Thanks
    greenglide
    From the Youinvest web site (the page that actually sets up the automatic reinvestment):-

    Eligible dividends are those paid by UK listed shares, investment trusts and ETFs only, our service does not allow you to reinvest dividends for international shares, bonds or funds.
    TD seems to offer less:-

    Dividend reinvestment is available for popular shares (including the FTSE 350) and a range of Investment Trusts and ETFs.
    The Dividend must be paid onto your account in sterling for it to be reinvested.

    So I could not automatically reinvest PEY dividends if I wanted to on TD but I could with Youinvest (I hold PEY on both platforms).
    Last edited by greenglide; 22-03-2017 at 11:12 AM. Reason: extra
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