Stocks & Shares ISA charges

Doctor_Gloom

Hi, I want to open a Stock and Shares ISA (self-select) and then buy some individual shares (not funds) to put in it. I checked Hargreaves Landsdowne and Halifax but they both charge for the privilege. I find it a bit strange that e.g. Halifax won't charge to hold the shares outside an ISA but will charge within it. So is there any organisation that doesn't charge. Thanks.

Sceptic001

T D Waterhouse self-select ISA has no set-up or admin charges if the valuation is greater than £3600.

C_Mababejive

Have you had a look at TD Waterhouse and also https://www.iii.co.uk ???

Doctor_Gloom

No, not yet. Thanks. I'll have a look now.

gt94sss2

HSBC, First Direct and Alliance Trust also don't charge for holding shares in a self-select ISA.

Regards
Sunil

JamesU

Doctor_Gloom wrote: »

Hi, I want to open a Stock and Shares ISA (self-select) and then buy some individual shares (not funds) to put in it. I checked Hargreaves Landsdowne and Halifax but they both charge for the privilege. I find it a bit strange that e.g. Halifax won't charge to hold the shares outside an ISA but will charge within it. So is there any organisation that doesn't charge. Thanks.

Have a look at the i-dealing website and see what you think. The platform has not changed very much in approx 10yrs and it is a no-frills but reliable service. Straight forward and transparent £5 per quarter, with no other fees. Definitely no problem with inactivity, cash holdings etc and staff have always been helpful. Dealing fees are also reasonable (£9.90 plus stamp duty per trade) and trading is straight-forward. Electonic transfer of cash to standard or ISA accounts easy for additional funding. Only one fiddly bit and that is getting cash out by sending a withdrawal form by post and the funds are then sent electonically to your nominated bank without charges. Suitable for shares and etfs, not appropriate for funds though. They have in recent years introduced a £60 account closure fee which is a surprise, but this is more than compensated for by the low annual overhead on the fund and holdings.

Other options as in threads below, some repetition on various providers with those mentioned above and within the threads below:

http://forums.moneysavingexpert.com/showthread.html?t=2321343&highlight=

http://forums.moneysavingexpert.com/showthread.html?t=2265207&highlight=


JamesU

yorkiebar

iii for me

JamesU

yorkiebar wrote: »

iii for me

And from what I have read recently on other threads "iii" may be good if you are making regular monthly purchases at lower costs, which might be important for some to consider, though I have no experience with "iii" myself.

JamesU

Doctor_Gloom

I was thinking of transferring my cash ISA money in (about 30K) into a Stocks and Shares ISA and then buying some individual mining shares , RioTinto, BHP Billiton, etc. and holding for the long term i.e. 10-20 years. So thanks everyone. iii.co.uk might be a good one to try first.

There's no guarantee any of these companies won't start charging in the future though, is there?

JamesU

Doctor_Gloom wrote: »

I was thinking of transferring my cash ISA money in (about 30K) into a Stocks and Shares ISA and then buying some individual mining shares , RioTinto, BHP Billiton, etc. and holding for the long term i.e. 10-20 years. So thanks everyone. iii.co.uk might be a good one to try first.

There's no guarantee any of these companies won't start charging in the future though, is there?

Best ask around and find out if the pricing with the preferred provider has been consistent over a period of years. Certainly this has been the case with i-dealing for approx 10yrs but "iii" seems to have the edge on flexibility. But be very sure in your mind you want individual shares rather than etfs or funds. Some would consider buying a basket of individual shares, and in a single fairly non-diversified sector, a bit risky. Worth thinking about maybe...

JamesU

gt94sss2

Doctor_Gloom wrote: »

I was thinking of transferring my cash ISA money in (about 30K) into a Stocks and Shares ISA and then buying some individual mining shares , RioTinto, BHP Billiton, etc. and holding for the long term i.e. 10-20 years

I presume you have other investments as well - as its generally not recommended to have money invested in only one sector.

There's no guarantee any of these companies won't start charging in the future though, is there?

No guarantee no - but HSBC/First Direct etc. have had no annual fees or inactivity fees for years - and HSBC recently reviewed its fees for the first time in ages and retained that principle.

If a broker does introduce an annual fee, it will have to give you notice and give you an opportunity to change to another broker.

Regards
Sunil