Best platform to buy Investment Trusts

atush

I don't know if you can wrap these savings schemes in an ISA- possibly. I can't have an isa so do it monthly by DD to the company.

SeniorSam

ermine,

I believe HL maximum annual charge on IT's is £200 per annum not £2400

Sam

Totton

That's correct £200 per year not month.

I hold the IT's with HL because we hold funds alonside the IT's and I prefer not to have to deal with different providers. Previously we held IT's directly with the companies themselves, also used their thesaving schemes direct as the deal was just 50p per month!

The benefit of HL comes when I want to know something or deal, they are first rate at customer service in my experience.

Mickey

barak

SteveSilva wrote: »

So when you buy direct from the fund manager savings scheme, would that still be under an ISA and can you always make monthly payments, or does that work out too costly?

Most Investment Trusts have their own ISA Schemes as well as Savings Schemes, but although some Savings Schemes can be good value, with ISAs you will end up paying an annual fee of £25 or more to each manager - so 'direct' is not the most economical way of holding Investment Trusts in ISAs.

jimjames

barak wrote: »

Most Investment Trusts have their own ISA Schemes as well as Savings Schemes, but although some Savings Schemes can be good value, with ISAs you will end up paying an annual fee of £25 or more to each manager - so 'direct' is not the most economical way of holding Investment Trusts in ISAs.

Yes thats true depending on the ISA manager. I guess it depends on the amounts overall.

However £25pa on £10k ISA is still better than the £50 that the same ISA (0.5% pa charge) would cost you at HL. Where it gets more cost effective is if you have several ISAs with the same manager and then the cost drops dramatically. If you only have £1k in it then you are paying a lot more in annual fees than you would with HL but purchase costs may be lower.

So with Aberdeen the £24pa charge could cover you for ISAs of £100k or more which would be very low as a percentage and I doubt other platforms could beat that especially with the very low reinvestment costs.

http://www.invtrusts.co.uk/aam.nsf/investmenttrusts/investisa

By the way I hold most of my Investment trusts outside an ISA via the savings schemes. The ones in an ISA are with Alliance Trust.

JamesU

For anybody interested in Investment trusts, some nice overview articles in this week's edition of Investor Chronicle:

Have it all with investment trusts (readable overview of ITs)
The professional picks (some ideas on growth and income ITs)
Around the world in 8 trusts (global portfolio based on "top" IT picks)
Saving with investment trust schemes (comparison of selected direct IT schemes)

Some updated info on what platforms to use in relation to RDR also. But Special_Saver's link (#3 above) more exhaustive.

Articles worth a read for those interested.

JamesU