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Investments Article Clarification
bonzer
Posts: 399 Forumite
Hi,
I was reading the investments article about discount brokers here:
http://www.moneysavingexpert.com/savings/isa-discounts
Maybe I haven't read it correctly, but I'm not sure if the brokers suggested in the best buys section are the best choice if you want to buy funds at the cheaper end of the market within an ISA e.g. popular index tracker products. If you're buying funds with no commission Hargreaves & Lansdown's ISA product seems to have an annual 0.5% charge. Best Invest appears to have a £12.50 per quarter "custody fee".
Compare this with e.g. Fidelity which isn't mentioned in the article however as far as I can tell doesn't charge anything for holding funds in an ISA.
I'm not sure these charges are really mentioned in the article, however could have an impact on your choice of broker. Apologies if I've made a mistake or misunderstood, but I just thought I would draw this to your attention.
Thanks
Bonzer
I was reading the investments article about discount brokers here:
http://www.moneysavingexpert.com/savings/isa-discounts
Maybe I haven't read it correctly, but I'm not sure if the brokers suggested in the best buys section are the best choice if you want to buy funds at the cheaper end of the market within an ISA e.g. popular index tracker products. If you're buying funds with no commission Hargreaves & Lansdown's ISA product seems to have an annual 0.5% charge. Best Invest appears to have a £12.50 per quarter "custody fee".
Compare this with e.g. Fidelity which isn't mentioned in the article however as far as I can tell doesn't charge anything for holding funds in an ISA.
I'm not sure these charges are really mentioned in the article, however could have an impact on your choice of broker. Apologies if I've made a mistake or misunderstood, but I just thought I would draw this to your attention.
Thanks
Bonzer
0
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