Stocks and shares isa wrapper

edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings
1 reply 941 views
lmentrylmentry Forumite
20 Posts
edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings
Hello all,
Have read a lot of these posts with interest, and was wondering what peoples views are on the difference/benefits of having a s&s isa with someone like selftrade (my current share dealer) and someone like Hargreaves Lansdown? I would probably want to hold a couple of unit/investment trusts of, say £1000 each and £1000 in etf's.
I understand etf's are free to buy and cost to sell within an isa so can dripfeed if necessary, and trusts are subject to normal dealing charges both ways so would make sense to puchase in larger amounts.
Selftrade state that they pass on any discounts recieved from the fund providers to the customer, does anyone know if this would be comparable to the Hargreaves Lansdown discounts?

Thanks to all you savy money savers out there in advance, i feel richer just by reading your posts!:hello:

Replies

  • cheerfulcatcheerfulcat Forumite
    3.3K Posts
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
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    Hi, there,

    AFAIK ETFs are only free of dealing charges when buying within a Selftrade ISA. HL charge their normal [ fairly expensive ] share dealing commission.

    HL's discounts on funds are normally better than ST's because they refund part of the trail commission as well as waiving the initial commission but the rules don't allow them to do this with ISAs. HL also have a greater selection of funds and more 0% initial commission deals. Unfortunately their portfolio tool is pants, and it's nearly impossible to see your dealing history so if that's important to you ST is miles better. Customer service is miles better with ST too. Oh, and HL have an annoying thing about not amalgamating accounts if you take out a Mini ISA one year and a Maxi in subsequent years.

    HTH

    Cheerfulcat
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