iii introducing quarterly £20 charge

guitarman001

Not sure - probably - check the site and let me know!

HL don't have a fee for their fund & share dealing account. Or at least they say they don't. You must be talking about their ISA? Do you know what the fee is? I'm checking now... If you use them, how do you rate them? They seem pretty good! I'm leaning toward them or Motley Fool... not sure though..

guitarman001

Found it!! HL ISA is 0.5% or MAX £45 per annum. So Motley Fool is coming out the cheapest so far. (And to the above poster, I'm certain Motley Fool do what you're asking).

I think I'm making my mind up between those two, unless anybody has anything to add? What do you think??

guitarman001

TD Waterhouse do trades for ~£9, there is no admin fee for accounts worth over £5.1k... can't see anything about inactivity fee. This might be a contender.

Anybody used Motley Fool, HL, TD Waterhouse..... or Barclay's Stockbrokers?

guitarman001

An old article but hey - includes a brief summary near the bottom (with likely out of date data!):

http://www.guardian.co.uk/money/2010/jun/19/share-trading-for-beginners


Got to say Motley Fool definitely looks the cheapest. HL looks to do a lot of good research and has a great site.

guitarman001

AllianceTrust, SIPPDeal and BestInvest... must check those out.

http://www.sippdeal.co.uk/Resources/Content/PDF/SD_Pricing_comparison.pdf


Sorry for the running commentary - just a note of my findings. Hope others find it useful!


Oof, £12.50 per trade at AllianceTrust. Will give that one a miss. Seems to be the same with BestInvest unless you have £50k+. Again, same sort of dealing charges for Barclays Stockbrokers.

NOTE TO SELF:
Decide between MF & HL, and check out SIPPdeal a little more.

kingshuk

guitarman001 wrote: »

Never heard of iweb until you just mentioned. There seem to be LOADS of these 'small' 'new' brokers out there! How long's it been going?

To be honest I'm tempted to go for one of the big boys like Hargreaves Lansdown (or Motley Fool?).

iWeb has been around for a few years (google search) and I think (based on what I can see in FSA site) they were bought over by Halifax Share Dealing Limited in 2009. But the trade name iweb is still used. They now use the Halifax platform - the same one that iii used before the built their own. I like that the charges are similar to what iii had and I am considering them for my switch,

But their transfer fee is much higher than others (£20 per stock + £50 fees + VAT) and having had this experience with iii I am now giving transfer charges an equal consideration. So probably will not use them if I can find something similar with lower transfer fees.

cing0

wastedtalent wrote: »

I'm moving to iWeb. Part of Halifax, regular investments and no account management fees for isa.

It looks like iWeb is identical to HSDL (Halifax) but without the AMF.
However, don't know if you can mix shares and funds in an ISA as the two product (share ISA vs fund ISA) docs don't mention the other. Any iWeb customers care to comment ?

Perelandra

guitarman001 wrote: »

http://www.sippdeal.co.uk/Resources/Content/PDF/SD_Pricing_comparison.pdf


Oof, £12.50 per trade at AllianceTrust.

Alliance Trust's current fees and rebates tend to work out better for those with larger pots who want to invest in managed funds, as their rebates tend to be higher than the other brokers (something which, not surprisngly, isn't shown on the sippdeal comparison). For investors who regularly switch, or who have smaller pots, they will work out more expensive though.

Having said this, AT's position may well change post-RDR, where it may prove difficult to justify both the annual account charge and the trading charge, as I suspect their rebates will come down.

ruperts

Is jumping ship now the best idea? I would like to see what charges the other platforms introduce first. It seems foolish to move to a platform which hasn't yet reacted to the new regulations because surely at some point they will have to?

pqrdef

ruperts wrote: »

Is jumping ship now the best idea? I would like to see what charges the other platforms introduce first. It seems foolish to move to a platform which hasn't yet reacted to the new regulations because surely at some point they will have to?

The RDR only affects funds, so there's no adequate reason why it should affect the charges on accounts only used for sharedealing.

II have chosen to slip in what is effectively an inactivity fee for sharedealing customers. Many other brokers have one already, but those who don't presumably like their business model the way it is.

If other brokers do what II is doing, the FSA will have a lot to answer for.