Hargreaves Landsdown - new charges

margaretclare

mr_fishbulb wrote: »

I didn't mean £10 in total gains from the funds, I meant just the money I get from the loyalty bonus.

So this is money you take out? Thanks for the clarification.

I don't take anything out. Any gains are automatically reinvested. That's what it's there for.

margaretclare

Ark_Welder wrote: »

The level of the discount should not be a driver to fund selection

No, of course not, but mr_fishbulb did not make it clear what this £10 was. I read it to mean total gains and it appears not.

mr_fishbulb

margaretclare wrote: »

So this is money you take out? Thanks for the clarification.

I don't take anything out. Any gains are automatically reinvested. That's what it's there for.

This is just the loyalty bonus for holding the funds. It's not capital gain, or income from dividends/coupon payments (all my finds are accumulation units so they automatically get reinvested anyway).

browniej

margaretclare wrote: »

So this is money you take out? Thanks for the clarification.

I don't take anything out. Any gains are automatically reinvested. That's what it's there for.

So what do you do with your Loyalty Bonus? It's not automatically reinvested but held in a separate part where you have to phone them to do something with it.

Lokolo

browniej wrote: »

So what do you do with your Loyalty Bonus? It's not automatically reinvested but held in a separate part where you have to phone them to do something with it.

Yep I just checked that out actually. Minimum withdrawal is £5, and you can have it go into your account my phoning up - not sure why you have to phone up, the INC dividends you can withdraw to your account via the website, not sure why they can't do the same with the LB.

browniej

Lokolo wrote: »

Yep I just checked that out actually. Minimum withdrawal is £5, and you can have it go into your account my phoning up - not sure why you have to phone up, the INC dividends you can withdraw to your account via the website, not sure why they can't do the same with the LB.

Yes it would make it easier.

As with you I stand to lose the Loyalty Bonus as my 4 funds have less than £1k in each.

It appears that they want the full IFA trail commission which would normally provide servicing even though they are not providing any advice.

Aegis

browniej wrote: »

Yes it would make it easier.

As with you I stand to lose the Loyalty Bonus as my 4 funds have less than £1k in each.

It appears that they want the full IFA trail commission which would normally provide servicing even though they are not providing any advice.

I've had a reply from them stating that they aren't planning to discount the trail commission any further any time soon, so I guess it'll be off to Cavendish for me as soon as my next direct debit clears.

Shame really, I like their service but I can save a fairly significant amount by going through a competitor...

jamesd

The potential saving for me by not consolidating pensions there and moving what's already there away is enough to pay for a holiday every year. Or a couple or three 32+inch TV sets.

jamesd

jimjames wrote: »

All ISAs with HL are treated as one so in this case your holding would qualify for the rebate.

In the last round of rebate payments I received two different payments for a fund that I hold only in two ISA pots and two SIPP pots, not in the fund and share account. No rebate on the SIPP so at least at that time the ISA pots were being paid individually. The payment amounts were in proportion to the amounts in the two ISA pots. Did you confirm that handling with HL?

competitionscafe

Lokolo wrote: »

Yep I just checked that out actually. Minimum withdrawal is £5, and you can have it go into your account my phoning up - not sure why you have to phone up, the INC dividends you can withdraw to your account via the website, not sure why they can't do the same with the LB.

You can withdraw the Loyalty Bonus online after the first withdrawal (which you can do by phone or post - I did mine by post). They will then put the option to withdraw into your bank account on your online account.

All my HL ISA investments are funds but I have a mix of investment trusts and shares in a Selftrade ISA so am thinking that the best option is to move both ISA's to either Alliance Trust or Cavendish as they rebate more of the trail commission making them cheaper (at least for buy and hold investments - I tend to hold an IT or fund for at least 1 year, much longer if performance remains good).

"If you want to hold shares AND funds within an ISA, SIPP and/or directly then Alliance Trust Savings i.nvest is well worth considering.

At the time of writing Sippdeal is likely to be cheaper if you just want to hold shares in a SIPP, x-o.co.uk a better deal for shares held within an ISA or directly and Cavendish Online one of the cheapest ways to buy a fund within an ISA. But combine shares and funds then Alliance Trust offers a competitive proposition thanks to the reduced annual fund charges." http://www.candidmoney.com/candidreviews/review44.aspx