Low cost Stocks & Shares (Investment) ISAs: The Best Currently Available List!

Special_Saver2

I have checked through everything for the March update to this thread. Nothing has changed since my last update as far as I can see and, in particular, Trustnet Direct has still not launched yet. I will update this thread as and when needed, otherwise the next update will be in 3 months as usual.

SS2

Special_Saver2

I see from this thread by Rollinghome that Chelsea Financial Services have announced their charges: 0.6% (0.2% to Cofunds and 0.4% to Chelsea)

Chelsea FS is not currently on my list on page 1 of this thread and given how high their charges are, I am not going to add them now.

SS2

Special_Saver2

I have made some changes to the entries on page 1 of this thread:

- AXA have reduced their fees from 0.5% to 0.35% for investors with less than £250,000 and 0.2% on £250,000+. I have adjusted the entry and bumped it up the list accordingly as this is now more competitive. AXA has a no fees until 1st May 2015 and free transfer out offer (so you can try them out risk-free for approximately a year) but they do not offer several of my funds - you can see which funds they offer here

- IWeb have announced more new charges from 1st March 2014 (details here) and they are generally lower than their existing charges including a cap on transfers out of £125 if made electronically to another provider (currently uncapped)

SS2

Special_Saver2

Trustnet Direct has launched. I have updated the details in the relevant entry on the first page of this thread.

SS2

Special_Saver2

Clubfinance have announced their forthcoming charges for Cofunds. Details on this page.

I have updated their entry on the first page accordingly with this information:
[FONT=Times Newbr / Roman][FONT=Times Newbr / Roman][FONT=Times Newbr / Roman][FONT=Times Newbr / Roman]
Clubfinance (Cofunds)
[/FONT][/FONT][/FONT][/FONT]
[FONT=Times Newbr / Roman][FONT=Times Newbr / Roman][FONT=Times Newbr / Roman][FONT=Times Newbr / Roman]Annual fee: 0.34% on <£100,000, 0.31% on £100,00-£250,000, 0.28% on £250,000-£500,000, 0.25% on £500,000-£1 million, 0.15% on > £1 million
Transaction fees: [/FONT][/FONT][/FONT][/FONT][FONT=Times Newbr / Roman][FONT=Times Newbr / Roman][FONT=Times Newbr / Roman][FONT=Times Newbr / Roman][FONT=Times Newbr / Roman][FONT=Times Newbr / Roman][FONT=Times Newbr / Roman][FONT=Times Newbr / Roman]0.25% for switching funds and some funds have an initial purchase % fee
[/FONT][/FONT] Platform: Cofunds
[/FONT][/FONT][/FONT][FONT=Times Newbr / Roman][FONT=Times Newbr / Roman][FONT=Times Newbr / Roman]Transfer out: Not specified[/FONT][/FONT][/FONT][/FONT][/FONT][/FONT]

SS2

SnowMan

Special_Saver2 wrote: »

Clubfinance have announced their forthcoming charges for Cofunds..... [FONT=Times Newbr / Roman][FONT=Times Newbr / Roman][FONT=Times Newbr / Roman][FONT=Times Newbr / Roman]
[/FONT][/FONT][/FONT][/FONT]

Clubfinance's charging structure is quite confusing as they seem to have 4 separate structures

Clubfinance(via Cofunds)
Clubfinance (via Fidelity Fundsnetwork)
Clubfinance (via Skandia)
Clubfinance Frequent Trader

Of these the Frequent Trader structure looks the most interesting (and is what I show for Clubfinance in my spreadsheet). That has a 0.24%pa charge subject to a minimum of £30 per quarter across accounts.

There is no dealing cost for funds and a £2.50 dealing cost for shares and ETFs (slightly less at very high levels of investment above 250K). On the surface that looks cheap dealing for shares and ETFs, but is effectively 'subsidising' the 0.24% platform charge for shares and ETFs when compared to the cheapest share structures that have no custody charge but higher dealing charges.

Exit fees at £10 per investment by re-registration aren't too bad.

Frequent Trader can work out quite reasonable for some portfolios around the 50K level and just above.

Special_Saver2

SnowMan, thanks for that. Clubfinance work with 4 different providers, hence the 4 different charging structures. In general, they charge 0.05% on top of whatever the platform charges them.

I did not have the Frequent Trader on my list. I have added it now to post 2 for funds and post 4 for shares.

SS2

Special_Saver2

I have updated the entry on The Share Centre to include information from this thread showing that you can switch on and off their frequent trader service for a 3 month period, which could be handy if you do all your trading at the beginning of the tax year.

SS2

masonic

It could be worth including iii have agreed to waive transfer out charges (up to 10 lines of stock) for new customers during their first 12 months (http://www.iii.co.uk/shares/charges). Might be reassuring for some.

[thanks to SnowMan for pointing that out in another thread]

Special_Saver2

Thanks masonic and SnowMan. I have added that to the relevant entries on the first page now.

SS2