Is there an alternative to Hargreaves lansdowne

doberryfirkin

I have a number of shares and unit trusts that sit outside an ISA. I have been too lazy to transfer them to an ISA but am aware of the tax advantages etc of doing so. I have a HL ISA account and was thinking of moving them into that and doing something called 'bed and breakfast'?. Anyway I have now become aware of some the get out costs that HL apply should you want to move away from them - which worry me. So my question is are there alternatives to HL that offer a similar service but perhaps are less costly to participate in?
Thanks for any advice offered. D

jamesd

What investments do you want to use? Funds like unit trusts? Direct buying of shares or investment trusts?

For fairly small amounts - a couple of tens of thousands - for funds HL can be quite inexpensive compared to some places.

The transaction you're considering is a bed and ISA one. Ot involves selling the investments and using the proceeds to buy the same or other investments inside the ISA. The sale may trigger CGT if any is due.

xrjtg

The fees for transferring out don't apply if you sell all your holdings and transfer out the cash.

Bear in mind that HL charge 0.5% a year for holding shares within an ISA, capped at £45 a year.

doberryfirkin

jamesd wrote: »

What investments do you want to use? Funds like unit trusts? Direct buying of shares or investment trusts?

I want to bed and ISA the shares / UTs into an ISA 'wrapper'. I wanted to know if there were alternatives to HL that provide a similar service?

jimjames

doberryfirkin wrote: »

I want to bed and ISA the shares / UTs into an ISA 'wrapper'. I wanted to know if there were alternatives to HL that provide a similar service?

There are lots that provide a similar service, if you check the forum you'll see lots of threads with names.

Personally I find HL offer the best service at a reasonable price - certainly for UT investments.

deadpeasant

A couple of alternatives that I've been researching are Alliance Trust and Interactive Investor. I put them in a reply to a post called "Hargeaves Lansdown v Interactive Investor v ??" (I can't post the link here)

Why is it that you want to leave HL?

As far as I can see, the best reason to shift from HL would be if you have large fund investments and would find it cost effective to take advantage of Alliance Trust's rebating all renewal commission. (HL only rebates part of it as "loyalty bonuses".) There is a page which shows how the savings on a large investment over several years can be hundreds or even thousands. I can't post the link but it's at the candidmoney site; you can put "understanding fund charge rebates" into google.

Otherwise HL seems pretty good.

Tycho_2

I'm just in the process of moving a way from an IFA who has been a source of much grief (Torquil Clark) and have found HL very easy to do business with.