How do I use bestinvest.co.uk

tyrian1601

Hello,

I apologise if this is a really stupid question and I'm missing an obvious point.

I want to invest in a mini stocks & shares isa through fundsnetwork.co.uk BUT via bestinvest.co.uk so I get the initial charge rebated. I already have a fundsnetwork.co.uk account.

I click on the fundsnetwork link on bestinvest.co.uk, login to my account, and search for the fund I'm interested in. However, I do not see the lower initial charge as advertised by bestinvest.co.uk.

Do I have to do something else? What am I missing? Thank you for reading!!

Tyrian

noahveil

Why use Bestinvest - or Fundsnetwork for that matter ?

Bestinvest's initial charge discount on many funds can often be bettered by Hargreaves Lansdown.

Also, Bestinvest rebate none of their trail commission, while HL do so via their Vantage service.

savingforoz

I'd second HL as being a good place to buy funds.

Bazn

hey tyrian... very good point there

I'm in exactly ur position - i have an existing fundsnetwork account and i wanna take advantage of bestinvest's lower initial charges. I too was unsure how to get them to work...

I emailed bestinvest's customer support and they said it will be applied if u use the link from their site... i assume the difference will be refunded in some way (hence the higher charge being diplayed). However i havent tried it yet.... will report back when i do.

to those of u who keep plugging HL, a key factor for young, beginner investors such as myself is the £3000 minimum/£1000 per fund that they impose. This is far to high for me - Bestinvest/FFN has much lower minimum investments so they are ideal for me. the 0.25% trail rebate at HL is negligible on my scale of investment.

savingforoz

You can invest just £50 per month in a fund with Hargreaves Lansdown if you set up a standing order - that limit should be low enough for anyone. You just can't apply via the website, that's all.

noahveil

Bazn wrote:

I emailed bestinvest's customer support and they said it will be applied if u use the link from their site... i assume the difference will be refunded in some way (hence the higher charge being diplayed). However i havent tried it yet.... will report back when i do.

to those of u who keep plugging HL, a key factor for young, beginner investors such as myself is the £3000 minimum/£1000 per fund that they impose. This is far to high for me - Bestinvest/FFN has much lower minimum investments so they are ideal for me. the 0.25% trail rebate at HL is negligible on my scale of investment.

HL will also accept small lump sums per fund (I've invested as little as £400 per fund) into existing accounts.

You just have to do it either by letter (cheque) or telephone (card) - not online.

Bestinvest/ Cofunds is £500 min. lump sum.

Bestinvest/Fundsnetwork is £1000 min. lump.

So, how are Bestinvest better for smaller sums again ?

BTW you were lucky you received a reply to your email - Bestinvest have never replied to any of mine.

Extractthecash

One point re the HL Vantage service, to move your agent away from HL you will need to sell all your investments and buy somewhere else. You run the risk that they may change there terms in the future.

I click on the fundsnetwork link on bestinvest.co.uk, login to my account, and search for the fund I'm interested in. However, I do not see the lower initial charge as advertised by bestinvest.co.uk.

Bestinvests charge discount should show up on your system. I used Clubfinance (advantage 0.375% trail, but discount 3% initial on most funds which can be bettered) and it did show, make sure Bestinvest's broker code is shown in fidelity to get the discount. It is 170224

noahveil

Extractthecash wrote:

One point re the HL Vantage service, to move your agent away from HL you will need to sell all your investments and buy somewhere else.

Not so.

If you look at page 8 of the application forms in the Spring 2006 issue of their Investment Times mag it clearly states that you can switch UTs/OEICS out of HL by either a stock or cash transfer with no exit fees

You run the risk that they may change there terms in the future.

That applies equally to anybody else.

Extractthecash

Cheers, that's news to me..

I have thrown the spring copy away, I have had a good look online, I have found the following in their T&C:

How do I transfer to another manager?
You can do this by requesting a transfer form from your new manager and advising us of your
intentions in writing.

It would seem I was under a false understanding..

The risk they change their terms is not an issue if you can transfer out without cost as you rightly point out..