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Worthwhile transferring S&S ISA from Fidelity to Hargreaves Lansdown
Comments
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Why are you looking to move away from Fidelity if I can ask?0
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Interest earned on cash in a S&S ISA is not taxable. It is subject to a 20% charge that is completely unrelated to the tax rate paid by the investor and does not need to be declared for income tax purposes.It does earn interest at HL, but interest earned on cash in S&S ISAs is taxable.0 -
I'm interested to know, why would you want to move from Fidelity to HL? You could maintain your current fund investments with Fidelity and start a new ISA with HL, before considering the transfer.0
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I'm interested to know, why would you want to move from Fidelity to HL? You could maintain your current fund investments with Fidelity and start a new ISA with HL, before considering the transfer.
Not much point of splitting platforms though. HL is better than Fidelity for a DIY investor.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
BFM how have you found the L&G tracker ISA in terms of how easy it is to operate? I was considering investing in their UK Index tracker because it seems to have done quite well, has low charges and low initial investment. I have not invested in funds before and am a bit aprehensive about investing the minimum required by H&L. I know past performance is no guarantee.0
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The minimum from H&L is £50 so that shouldn't be any barrier to investing.BFM how have you found the L&G tracker ISA in terms of how easy it is to operate? I was considering investing in their UK Index tracker because it seems to have done quite well, has low charges and low initial investment. I have not invested in funds before and am a bit aprehensive about investing the minimum required by H&L. I know past performance is no guarantee.
You are better off with the HSBC tracker funds as their charges are half the amount of L&G.Remember the saying: if it looks too good to be true it almost certainly is.0 -
The minimum from H&L is £50 so that shouldn't be any barrier to investing.
You are better off with the HSBC tracker funds as their charges are half the amount of L&G.
The minimum monthly payment is £50. Do you know if there is a minimum number of monthly payments yo have to make withought incurring eny extra charges? Extract from the H&L site below.
What is the minimum amount I can invest per fund?
The minimum lump sum investment into a new fund is £1000. If you are topping up a fund that you already hold the minimum investment is £250.
You are also able to set up a monthly regular savings instruction of £50 a month if applying online or £100 a month if applying via the post. This is subject to a minimum of £50 per fund.0 -
I don't think there is a minimum number of payments. I stopped paying into one fund after it got to £200 in my first year at H-L.The minimum monthly payment is £50. Do you know if there is a minimum number of monthly payments yo have to make withought incurring eny extra charges? Extract from the H&L site below.
What is the minimum amount I can invest per fund?
The minimum lump sum investment into a new fund is £1000. If you are topping up a fund that you already hold the minimum investment is £250.
You are also able to set up a monthly regular savings instruction of £50 a month if applying online or £100 a month if applying via the post. This is subject to a minimum of £50 per fund.0 -
It's easy to get around the £1000 and £250 requirements. You do a sell split transaction from one fund and put say £50 into five different funds. Not you can put cash amounts of £250 directly into each. Or you can put £50 or less top up into each with another sell split transaction. sell split = sell part or all of holdings in one fund and split the proceeds into other funds or cash.0
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The minimum monthly payment is £50. Do you know if there is a minimum number of monthly payments yo have to make withought incurring eny extra charges?
You only have to make 1 monthly payment so £50 in a fund. Not that I would necessarily advise that but technically it is possible.Remember the saying: if it looks too good to be true it almost certainly is.0
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