any platform better for investment trusts?

deadpeasant

If I've chosen a few ITs I like, is there anything to decide between platforms? I believe that ITs have no renewal commission and presume that no platform can avoid stamp duty. So is it simply a matter of dealing charges and customer service? And annual fee if I want to ISA-wrap, which I can't at the moment.

atush

If you invest regularly thru their savings plan, costs for buying and selling are pretty low. And if you wanted to cash some in, it is easy to do it below any CGT level.

But buying lump sums is harder as you would have to pay both SD and a higher buying cost thru a broker. And you can hold them in an ISA but costs around 200 now, will be 45 in 2012 I think (HL maybe?) . I read it here but can't remember the thread.

le_loup

Most IT Savings Schemes allow lump sum as well as regular payments and are generally quite low; from c. £250 to £500

gadgetmind

atush wrote: »

And you can hold them in an ISA but costs around 200 now, will be 45 in 2012 I think (HL maybe?) . I read it here but can't remember the thread.

It's 0.5% of value per year with a cap of £45 per annum in an ISA. (It drops from £200 to £45 on August 1st)

See this thread for which S&S ISA is best for which investments.

https://forums.moneysavingexpert.com/discussion/3153942

You'll have to pay 0.5% stamp duty everywhere but annual fees and dealing fees will vary.

deadpeasant

le_loup wrote: »

Most IT Savings Schemes allow lump sum as well as regular payments and are generally quite low; from c. £250 to £500

What are these "quite low" costs of £250 to £500? As I said in the OP, I can't ISA wrap at the moment so am trying to establish the best way to put unwrapped sums into my chosen ITs.

Looks to me like Interactive Investor's £10 per deal + stamp duty is the best, though £11.95 on HL (from next month) might be worth it for the nicer interface.

(I'll check out the monthly options but I'd rather get my money working for me sooner than later.)

Ark_Welder

The £250-500 are not costs, they are examples of contribution levels. Some IT companies have no additional costs for share purchases through their schemes, although you are limited to their own range of IT's usually.

the 'c.' stands for circa, means 'around' or 'approximately'.

le_loup

deadpeasant wrote: »

What are these "quite low" costs of £250 to £500?

That's not costs, that's the subscription minimum.
Costs vary from NIL to a few quid.
Edit:
Thank's Ark Welder, we crossed.

deadpeasant

Thanks. I hadn't realised you could buy shares from (some) ITs directly for no costs. The pointlessness of buying UTs/OEICs from source (due to initial charges) had put the direct option out of my mind.

Of course then you wouldn't have all your ITs in a user-friendly online portfolio. But I see that H.L. will let you keep track of all your (HL and non-HL) investments (except pensions and some others, I think) if you make them your broker. Not sure if there are arguments against doing that.

Ark_Welder

The main problem that I found when I had several IT's own savings accounts was the amount of paperwork that I received. Also some nice glossy magazines now and again that had some useful features, but you can see them online these days, and sign up for notifitations when there's a new issue. Don't need to be a direct client either.

le_loup

deadpeasant wrote: »

Of course then you wouldn't have all your ITs in a user-friendly online portfolio.

Unless you have several dozen different IT holdings, I think what you are quoting is H-Ls propaganda.
With modern tracking websites and spreadsheets, it ain't really difficult to have several holdings ... but then again, I don't mind detail!

deadpeasant

I'm not a HL stooge!