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  • FIRST POST
    • jehangir
    • By jehangir 13th Jun 17, 10:08 AM
    • 127Posts
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    jehangir
    Charles Stanley or Hargreaves S&S Transfer
    • #1
    • 13th Jun 17, 10:08 AM
    Charles Stanley or Hargreaves S&S Transfer 13th Jun 17 at 10:08 AM
    Hi , can anyone please give me some advice .

    I hold about a £1000 in an S&S ISA Vanguard 80 with Hargreaves Lansdown that was opened in 2016.

    Looking to invest a futher £20000 this year from my standard ISA savings into a S&S but would prefer to use Charles Stanley Direct
    as the the fees are lower.

    What would be the best way of going about the transfer or would it be possible to hold both accounts .

    I have not used any of my ISA allowance from this year .

    Any help would be much appreciated
    Last edited by jehangir; 13-06-2017 at 9:42 PM.
Page 1
    • badger09
    • By badger09 13th Jun 17, 10:37 AM
    • 5,078 Posts
    • 4,276 Thanks
    badger09
    • #2
    • 13th Jun 17, 10:37 AM
    • #2
    • 13th Jun 17, 10:37 AM
    Hi , can anyone please give me some advice .

    I hold about a £1000 in an S&S ISA Vantage 80 with Hargreaves Lansdown that was opened in 2016.

    Looking to invest a futher £20000 this year from my standard ISA savings into a S&S but would prefer to use Carles Stanley Vantage 80
    as the the fees are lower.

    What would be the best way of going about the transfer or would it be possible to hold both accounts .

    I have not used any of my ISA allowance from this year .

    Any help would be much appreciated
    Originally posted by jehangir
    As you haven't paid anything into any ISA since 6th April 2017, you can open and fund a new S&S ISA with Charles Stanley (or anyone else).

    You could then ask CD to transfer the VLS80 from your Hargreaves Lansdown ISA, either as units or as cash. OR you could simply leave your HL ISA as it is.

    Be sure to check HL's T&C re their charges for transfers out & closing your ISA before you do so.
    • JohnRo
    • By JohnRo 13th Jun 17, 11:22 AM
    • 2,356 Posts
    • 2,086 Thanks
    JohnRo
    • #3
    • 13th Jun 17, 11:22 AM
    • #3
    • 13th Jun 17, 11:22 AM
    As above I'm assuming you mean Vanguard Lifestrategy 80, I don't know what Vantage 80 is.

    If it was me,

    Above all I'd want to avoid the HL account closure fee of £25+VAT and the HL transfer out fee (as cash or stock) of £25 per item.

    The solution I would pursue would be to either just leave the HL investment where it is and forget about it until needed.

    Or sell most of the VLS80 to cash, just leaving a small retainer invested to avoid the account closure fee.

    Then transfer that cash on account at HL to a nominated bank account, that would mean losing the ISA wrap but given the amount in question and the current ISA allowance, going forward it's no biggie (imo)

    edit:

    If the cash ISA savings you describe that you want to move to a S&S ISA are from previous years and not containing any money paid in this tax year, then you can transfer any amount without using any of this years allowance, so you're not limited to the current years £20,000 allowance limit, if that's why you chose to mention that amount.
    Last edited by JohnRo; 13-06-2017 at 11:37 AM.
    'We can't solve problems by using the same kind of thinking we used when we created them.' ― Albert Einstein
    'Facts do not cease to exist because they are ignored.' ― Aldous Huxley
    • cloud_dog
    • By cloud_dog 13th Jun 17, 11:27 AM
    • 3,074 Posts
    • 1,652 Thanks
    cloud_dog
    • #4
    • 13th Jun 17, 11:27 AM
    • #4
    • 13th Jun 17, 11:27 AM
    Hi , can anyone please give me some advice .

    I hold about a £1000 in an S&S ISA Vantage 80 with Hargreaves Lansdown that was opened in 2016.

    Looking to invest a futher £20000 this year from my standard ISA savings into a S&S but would prefer to use Carles Stanley Vantage 80
    as the the fees are lower.

    What would be the best way of going about the transfer or would it be possible to hold both accounts .

    I have not used any of my ISA allowance from this year .

    Any help would be much appreciated
    Originally posted by jehangir
    Assuming the OP means Vaguard LifeStrategy 80 and they are happy with this strategy and likely to keep this fund/strategy going forward, why wouldn't you open a new Vanguard S&S ISA account, deposit your £20k there, convert the HL holdings to cash and transfer to your new Vanguard S&S ISA and bite the bullet with regard to the HL closure fee. Keep it simple.
    Last edited by cloud_dog; 13-06-2017 at 11:39 AM.
    Personal Responsibility - Sad but True

    Sometimes.... I am like a dog with a bone
    • TrustyOven
    • By TrustyOven 13th Jun 17, 2:10 PM
    • 550 Posts
    • 619 Thanks
    TrustyOven
    • #5
    • 13th Jun 17, 2:10 PM
    • #5
    • 13th Jun 17, 2:10 PM
    jehangir, I think it's important to be meticulous.

    Vantage is HL's name for a service (or a package / account): http://www.hl.co.uk/investment-services/vantage-service

    As JohnRo guessed, I think you mean Vanguard Lifestrategy 80, which is an investment fund. But we are not too sure if that's what you meant.

    Carles Stanley Vantage 80 doesn't exist. I think you mean Charles Stanley Direct (Charles Stanley is their advisory company with higher fees). And they don't have "Vantage" as a product or service etc.
    They most likely do offer Vanguard Lifestrategy 80.
    Goals
    Save £12k in 2017 #016 (£2040.32 / £10k) (20.40%)
    Save £12k in 2016 #041 (£4558.28 / £6k) (75.97%)
    Save £12k in 2014 #192 (£4115.62 / £5k) (82.3%)
    • jehangir
    • By jehangir 13th Jun 17, 8:46 PM
    • 127 Posts
    • 8 Thanks
    jehangir
    • #6
    • 13th Jun 17, 8:46 PM
    • #6
    • 13th Jun 17, 8:46 PM
    Sorry for my original post ( I was in a rush on the way to work ) , it is a Vanguard Lifestrategy 80 that I hold with HL.

    I will take the advice and open an account with Charles Stanley Direct and leave the £1000 in the HL account for the time being .

    I am just looking to put away the money for around 5 - 10 years using the most hands off / cheapest platform .

    Thanks for taking the time out to reply .
    • AnotherJoe
    • By AnotherJoe 14th Jun 17, 9:09 AM
    • 6,881 Posts
    • 7,324 Thanks
    AnotherJoe
    • #7
    • 14th Jun 17, 9:09 AM
    • #7
    • 14th Jun 17, 9:09 AM
    Would it be cheaper to hold the vls80 in vanguards new ISA ? Just askiing in case you aren't aware this is a possibility. I don't know how CS's charges are compared to that.
    • Lokolo
    • By Lokolo 14th Jun 17, 9:24 AM
    • 19,670 Posts
    • 14,675 Thanks
    Lokolo
    • #8
    • 14th Jun 17, 9:24 AM
    • #8
    • 14th Jun 17, 9:24 AM
    Would it be cheaper to hold the vls80 in vanguards new ISA ? Just askiing in case you aren't aware this is a possibility. I don't know how CS's charges are compared to that.
    Originally posted by AnotherJoe
    CSD is 0.25% on holdings. I don't know what Vangaurd's charges are, I assume cheaper though.
    • badger09
    • By badger09 14th Jun 17, 10:57 AM
    • 5,078 Posts
    • 4,276 Thanks
    badger09
    • #9
    • 14th Jun 17, 10:57 AM
    • #9
    • 14th Jun 17, 10:57 AM
    Vanguard charges 0.15% up to £250k. Downside is they only offer Vanguard funds.

    OP, if you intend investing your £20k ISA allowance in a lump sum, (or even say 4 lump sums) have a look at IWEB. £25 one off account opening fee then £5 per trade, but no annual charge, so after a couple of years you would be paying less .
    • jehangir
    • By jehangir 15th Jun 17, 7:34 PM
    • 127 Posts
    • 8 Thanks
    jehangir
    Vanguard charges 0.15% up to £250k. Downside is they only offer Vanguard funds.

    OP, if you intend investing your £20k ISA allowance in a lump sum, (or even say 4 lump sums) have a look at IWEB. £25 one off account opening fee then £5 per trade, but no annual charge, so after a couple of years you would be paying less .
    Originally posted by badger09

    Thanks for everyone for taking the timeout to reply . It was my new accountant who advised either Charles Stanley Direct or Cavendish due to the ease of use .

    I have looked into iweb but their website is not very user friendly anc quite basic .

    My plans are in the the first year I would be looking to invest 20k in 3 installments and then drip feeding 300 a month for the next 10 years .
    • Eco Miser
    • By Eco Miser 15th Jun 17, 9:25 PM
    • 2,891 Posts
    • 2,680 Thanks
    Eco Miser
    I have looked into iweb but their website is not very user friendly anc quite basic .
    Originally posted by jehangir
    What do you mean by 'not very user friendly'? To me, it does everything I need, and doesn't have annoying distractions like trying to up-sell or make suggestions as to what's hot.
    Eco Miser
    Saving money for well over half a century
    • jehangir
    • By jehangir 16th Jun 17, 10:55 AM
    • 127 Posts
    • 8 Thanks
    jehangir
    What do you mean by 'not very user friendly'? To me, it does everything I need, and doesn't have annoying distractions like trying to up-sell or make suggestions as to what's hot.
    Originally posted by Eco Miser

    sorry should not have said " not very user friendly " but more very basic looking and as a new investor can be off putting .

    With the iweb service if i was to drip feed the money into the account would I charged £5 everytime ?
    • JohnRo
    • By JohnRo 16th Jun 17, 11:09 AM
    • 2,356 Posts
    • 2,086 Thanks
    JohnRo
    With the iweb service if i was to drip feed the money into the account would I charged £5 everytime ?
    Originally posted by jehangir
    Yes iWeb charge a £5 commission per deal, why would you want to drip feed though with a lump sum ready to invest?
    'We can't solve problems by using the same kind of thinking we used when we created them.' ― Albert Einstein
    'Facts do not cease to exist because they are ignored.' ― Aldous Huxley
    • TrustyOven
    • By TrustyOven 16th Jun 17, 1:20 PM
    • 550 Posts
    • 619 Thanks
    TrustyOven
    sorry should not have said " not very user friendly " but more very basic looking and as a new investor can be off putting .
    Originally posted by jehangir
    Sometimes, "basic looking" is an advantage.

    It might mean:
    - they spend less of their money on making flashy money and more on making sure that their core business works well and all the time
    - there is less flashy graphs and images and bits of the site to confuse you and distract you and misguide you
    Goals
    Save £12k in 2017 #016 (£2040.32 / £10k) (20.40%)
    Save £12k in 2016 #041 (£4558.28 / £6k) (75.97%)
    Save £12k in 2014 #192 (£4115.62 / £5k) (82.3%)
    • ChopperST
    • By ChopperST 16th Jun 17, 1:30 PM
    • 1,055 Posts
    • 716 Thanks
    ChopperST
    If you are only looking at the Lifestrategy funds then open your account direct with vanguard and pay 0.15% Only been using the site for a month and its basic but works well and the customer service line is easy to get hold of and helpful.
    • jehangir
    • By jehangir 16th Jun 17, 9:01 PM
    • 127 Posts
    • 8 Thanks
    jehangir
    Yes iWeb charge a £5 commission per deal, why would you want to drip feed though with a lump sum ready to invest?
    Originally posted by JohnRo

    I thought the best practice according to various threads was to drip feed in installaments rather than a lump sum . Was looking to invest the 20k in 4 installments over the next 2 months into Vanguard 80 .

    I am new to investing so have been reading forums and threads but there is alot of conflicting information .
    • JohnRo
    • By JohnRo 16th Jun 17, 9:13 PM
    • 2,356 Posts
    • 2,086 Thanks
    JohnRo
    Given that you're investing in a Vanguard fund it seems appropriate that you ought to take their word for it.

    http://monevator.com/lump-sum-investing-versus-drip-feeding/

    * I also think you should consider the Vanguard platform if holding a Lifestrategy investment, as per above posts.
    Last edited by JohnRo; 16-06-2017 at 9:16 PM.
    'We can't solve problems by using the same kind of thinking we used when we created them.' ― Albert Einstein
    'Facts do not cease to exist because they are ignored.' ― Aldous Huxley
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