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

Pocketsaver

I only have a normal trading account with them. I'm only dissapointed because I wanted to keep all my investing under provider, but SVS's ISA isn't attractive enough. I'm now in the process of selling and moving my ISA'able shares to III for their Self-select ISA, which is looking to take until next Friday!
So hoping shares like RRL don't get news for another 2 weeks!

WisdomTooth

Great thread


I have been using LLOYDS online sharedealing account to store my
stocks and shares ISA their service fees are eight pounds per quarter

any thoughts on where to get even lower running costs ?

Tooth

Special_Saver2

Hi WT,

For ISAs that hold shares, look at post 3. There are a lot of brokers there who will not charge you an annual fee. You can transfer to one of them.

Your current provider will charge you for transferring and closing your account. Check with them what the costs will be. You can usually either transfer "in specie" (transferring the actual shares) or sell everything and transfer the cash balance. Transferring as cash can sometimes seem cheaper but you must take into account the bid/offer spread and stamp duty (0.5%) if you are re-purchasing the same shares.

You should also bear in mind that there is nothing to stop the broker you transfer to from introducing an annual fee (like Selftrade - see this thread) or increasing their dealing costs. This is why I have put details of the costs of transferring out in the first few posts of this thread.

Your first step should be to find out from Lloyds how much they will charge you to transfer your account. You can then compare that to how much you will save (£32 per year from what you have said) and decide whether to transfer or not. In the long run, it will be to your benefit to transfer to a provider with no annual charges (provided they do not introduce any fees).

SS2

P.S. I think you will find the charges for Lloyds TSB's shares ISA on this page.

Special_Saver2

Hi Folks,

Just a quick note to say that I added the discount broker JPJShare.com to post 3 earlier this week. I included a link to a page on candidmoney.com with their opinion including details of the compensation scheme applicable given this company is based in the Isle of Man.

SS2

Special_Saver2

This is the June update for this thread.

I can only find two things that have changed:

- Alliance Trust ISA two free trades offer now seems to include a few conditions, namely the trades exclude limit orders and market orders, the trades must have a maximum value of £25 + VAT and the offer is for accounts opened by 31st July 2011

- JPJShare.com have decreased their dealing fees. The standard dealing fee has dropped from £5.95 to £5.75 and the frequent trader dealing fee has dropped from £4.95 to £4.25

I will do another routine update for this thread in September (or sooner if anybody notices anything that changes before then).

SS2

Special_Saver2

I have updated the entry on the Hargreaves Lansdown ISA as their charges are changing from 1st August. There is more information in the July 2011 issue of "Investment Times" (printed promotional material that they post out to customers) than is available from their website. The information is nicely summarized in this thread: Hargreaves Lansdown - new charges.

SS2

Porcupine

Special_Saver2, thanks for a really useful post. I wonder if you might expand it to summarise the 'platform' fees? For example, H-L have their own 'platform', so the fees listed are all there are. While Cavendish using FundsNetwork has two layers of fees: one set from Cavendish and another from FundsNetwork. So it isn't so easy to compare one against the other until you know the full set.

Special_Saver2

Hi Porcupine,

Thanks for the positive feedback.

I know of a website page that summarises the information you want quite well, namely the Clubfinance Fund Supermarket Comparison page.

I will put a link to that page in the beginning of post 2 right now.

SS2

Jegersmart

Did anyone look at Fidelity?

Porcupine

Special_Saver2 wrote: »

I know of a website page that summarises the information you want quite well, namely the Clubfinance Fund Supermarket Comparison page.

Great. Just as a further minor tweak, could you indicate for those providers who use another platform that further fees? To a newcomer it's not immediately obvious that a provider having their own platform means no extra fees, and that only the platforms listed on the Clubfinance guide are the ones that charge extra. For example:

Suggested_wording wrote:

Platform: CoFunds, Fidelity (platform fees apply to both).

Hope I'm not being too fussy here, just trying to level the playing field

ETA: Don't know if it's better to write 'FundsNetwork' rather than Fidelity: Fidelity is the provider, but they also sell their own platform direct (not particularly well, as I just said below). FundsNetwork is the platform. I think. Unless more knowledgeable people than me know different.