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  • FIRST POST
    • schiff
    • By schiff 8th Feb 18, 1:28 PM
    • 17,833Posts
    • 9,181Thanks
    schiff
    Why not Youinvest?
    • #1
    • 8th Feb 18, 1:28 PM
    Why not Youinvest? 8th Feb 18 at 1:28 PM
    I'm looking to transfer an under-performing ISA and had iWeb initially in my sights.

    My intention is to switch funds into a different range of funds. The costs at Youinvest are £1.50 to buy a fund and 0.25% annual custody charge (under £250K). I will be staying pretty static. Is this not therefore a very good deal? For me anyway!
Page 1
    • ValiantSon
    • By ValiantSon 8th Feb 18, 1:33 PM
    • 700 Posts
    • 581 Thanks
    ValiantSon
    • #2
    • 8th Feb 18, 1:33 PM
    • #2
    • 8th Feb 18, 1:33 PM
    Why pay the trading fee?

    If a per centage fee is worth considering then you'd probably be better off with Cavendish, who also charge 0.25%, but no trading fees.

    Are you sure that 0.25% will work out cheaper than flat fees from iWeb?
    • BananaRepublic
    • By BananaRepublic 8th Feb 18, 1:35 PM
    • 1,173 Posts
    • 850 Thanks
    BananaRepublic
    • #3
    • 8th Feb 18, 1:35 PM
    • #3
    • 8th Feb 18, 1:35 PM
    There are plenty of platform comparison sites around, I'm sure some kind soul will post a link. YI are one of the more expensive platforms. However, my experience is that they are reliable, the UI is easy to use and they respond to queries in a helpful manner, so as a user I am not too concerned at the charges. I have no idea what the transfer out fees are though.
    • ColdIron
    • By ColdIron 8th Feb 18, 1:43 PM
    • 3,889 Posts
    • 4,738 Thanks
    ColdIron
    • #4
    • 8th Feb 18, 1:43 PM
    • #4
    • 8th Feb 18, 1:43 PM
    http://monevator.com/compare-uk-cheapest-online-brokers/
    http://www.comparefundplatforms.com/
    http://forums.moneysavingexpert.com/showthread.php?t=5583030
    https://drive.google.com/file/d/0BxA6Przq6KI1TnZsaEtPZEtCd3M/view?usp=sharing
    • schiff
    • By schiff 8th Feb 18, 1:44 PM
    • 17,833 Posts
    • 9,181 Thanks
    schiff
    • #5
    • 8th Feb 18, 1:44 PM
    • #5
    • 8th Feb 18, 1:44 PM

    Are you sure that 0.25% will work out cheaper than flat fees from iWeb?
    Originally posted by ValiantSon
    If the flat fees by iWeb are £25 standard account opening charge and £5 to buy each new holding, then no!

    iWeb has no custody charge then?
    • talexuser
    • By talexuser 8th Feb 18, 1:46 PM
    • 2,363 Posts
    • 1,862 Thanks
    talexuser
    • #6
    • 8th Feb 18, 1:46 PM
    • #6
    • 8th Feb 18, 1:46 PM
    I moved away from Bell in 16 when they increased their charges without giving you an opt out (they have a history of this having done it before). Saved nearly 4 figures in charges myself. Apart from the large increase in fees they were fine, just saw no point in giving them so much money.
    • bowlhead99
    • By bowlhead99 8th Feb 18, 1:58 PM
    • 7,283 Posts
    • 13,290 Thanks
    bowlhead99
    • #7
    • 8th Feb 18, 1:58 PM
    • #7
    • 8th Feb 18, 1:58 PM
    I use Bell since the days when their Youinvest service was called Sippdeal and they're fine. When they changed the fee structure last time I was not really affected because a majority of my money is not in funds, but shares or ITs instead. It is worth plugging your scenario into the various comparison tools. At 0.25% they are not really one of the more expensive platforms, as pretty much all the percentage-based platforms are at least 0.25% or higher including the DIY ones and the ones typically used by intermediaries / IFAs. Vanguard is an outlier with its lower percentage but obviously restricted to its own products. Obviously for someone with a high value of funds to put on the platform, any percentage based provider will eventually be more than the flat fee ones.

    For someone paying in monthly, the £1.50 a trade for funds or for regular investing in ITs or shares is not really a lot of cost per year, and is cheaper than you'd pay for deploying your 12 monthly contributions at IWeb as they have no 'regular investments program' to reduce the dealing fees.

    But if you had £100k of funds under administration that would be £250 a year which would cover a lot of trading fees at IWeb (although you might find that not all the funds you want are available at IWeb of course). My SIPP is bigger than that but my funds component isn't.
    Last edited by bowlhead99; 08-02-2018 at 2:04 PM.
    • schiff
    • By schiff 8th Feb 18, 2:43 PM
    • 17,833 Posts
    • 9,181 Thanks
    schiff
    • #8
    • 8th Feb 18, 2:43 PM
    • #8
    • 8th Feb 18, 2:43 PM
    TY for all your replies

    My fund is £50K, I won't be adding to it monthly, if at all. Sales/switches will be rare. It looks like iWeb.
    • JohnRo
    • By JohnRo 8th Feb 18, 2:53 PM
    • 2,542 Posts
    • 2,305 Thanks
    JohnRo
    • #9
    • 8th Feb 18, 2:53 PM
    • #9
    • 8th Feb 18, 2:53 PM
    A wise choice, assuming they don't shift the goal posts at their end any time soon.

    Problem is I'll be moving three accounts there in April from IG so that's an impending risk to them imposing higher charges you probably hadn't considered..
    'We don't need to be smarter than the rest; we need to be more disciplined than the rest.' - WB
    • schiff
    • By schiff 8th Feb 18, 3:06 PM
    • 17,833 Posts
    • 9,181 Thanks
    schiff
    You must be shifting a lot of brass if you fear they'll up their charges after your three transfers!
    • JohnRo
    • By JohnRo 8th Feb 18, 3:36 PM
    • 2,542 Posts
    • 2,305 Thanks
    JohnRo
    it's not the brass I'm referring to, it's the misfortune.
    'We don't need to be smarter than the rest; we need to be more disciplined than the rest.' - WB
    • Flobberchops
    • By Flobberchops 8th Feb 18, 3:50 PM
    • 666 Posts
    • 477 Thanks
    Flobberchops
    Why not Youinvest?
    Originally posted by schiff
    Because me not have money!
    I work for a UK bank, but any comments made on this forum are solely my personal opinion. Caveat Emptor!
    • ValiantSon
    • By ValiantSon 8th Feb 18, 3:58 PM
    • 700 Posts
    • 581 Thanks
    ValiantSon
    If the flat fees by iWeb are £25 standard account opening charge and £5 to buy each new holding, then no!

    iWeb has no custody charge then?
    Originally posted by schiff
    Those are the charges. There is no custody charge with iWeb, so if you don't trade at all in the subsequent year you pay nothing.
    • jimjames
    • By jimjames 8th Feb 18, 5:27 PM
    • 12,386 Posts
    • 10,976 Thanks
    jimjames
    I'm looking to transfer an under-performing ISA and had iWeb initially in my sights.
    Originally posted by schiff
    Just to be clear, an ISA doesn't underperform. An ISA is just a wrapper, it's what's inside that wrapper that performs or not so you don't need to change brokers to change performance unless they only sell a single fund.
    Remember the saying: if it looks too good to be true it almost certainly is.
    • hoc
    • By hoc 8th Feb 18, 11:50 PM
    • 200 Posts
    • 132 Thanks
    hoc
    If fund heavy. That's the only clear cut answer to your question.

    Youinvest is competitive if not holding funds, it can be beaten but generally not by much since they introduced their ISA maintenance fees which hardly anyone else does. If they further increase their account fees I could no longer recommend them for ISA unless dealing in international shares.
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