iii introducing quarterly £20 charge

miller

sabretoothtigger wrote: »

The paper option on this deal sounds best. I can hold it till this RDR storm passes then transfer it to a nominee broker and sell when I actually need it.

The negative there being your details will be available on the shareholders register.

On the plus side you might qualify for shareholders perks.

http://www.hl.co.uk/shares/shareholder-perks/shareholder-perks

gingellr

Well after alot of thinking and changing my mind i have finally gone for a TD Direct ISA.

based on that they only charge £1.5 per deal for regular investing.
No admin or inactivity fee.
Will only charge £50 to transfer out no matter how many stocks you have.
No charges to buy and sell funds
Have already adapted their charges for RDR
It gives access to morningstar data.

A couple of negatives, their FX rate is 2% others seem to be 1%
Also you cant use DRIP on a regular investment account (but the cost of both is £1.5 so it amounts to the same anyway)

gingellr

pqrdef wrote: »

There's scope for complications if you pay new money to the new provider before they receive and process the transfer data. Seems like you're pretty much inoperative for the duration of the transfer either way.

I was told that you can pay into your new provider straight away while the transfer is in progress as long as once it is transferred it would not put you over your isa limit.

pqrdef

sabretoothtigger wrote: »

The paper option on this deal sounds best. I can hold it till this RDR storm passes then transfer it to a nominee broker and sell when I actually need it.

I think that works out ok as most allow free transfer in

But in the brave new world, you'll probably have to pay a quarter's admin fee to the broker before you get your free dematerialisation.

Certificated trading without a retainer of some kind will probably cost at least £20 a pop more than nominee trading.

Basically, as soon as you buy something, they've got you. No way out without paying the ransom.

Optimist

For those still wondering about which address to send your transfer form to. I just received this from III


Thank you for your message.
I am sorry you are leaving Interactive Investor. I can confirm that in order to transfer out we will require to receive your Transfer Form from the new provider into our Glasgow office by 31st July 2012 should you wish to receive no transfer costs.
Please contact your new provider to obtain paperwork to initiate this transfer, I can confirm that the first quarterly fee is due on 1st July 2012, therefore if you want to avoid this also then we will require the transfer form to be received from the new provider into our Glasgow Office by 30th June 2012.
Our address for them to send the form is:
Transfers Department
Interactive Investor
2 West Regent Street
Glasgow
G2 1RW
I hope this helps, please do not hesitate to contact me should you require any further information

JoeCrystal

miller wrote: »

The negative there being your details will be available on the shareholders register.

On the plus side you might qualify for shareholders perks.

http://www.hl.co.uk/shares/shareholder-perks/shareholder-perks

It is not that much of the negative though with shareholders register. You might get some leaflet that offer you updated research report with no obligation from stock brokers on specific company. I found them quite funny.

I personally view it as advantage as I get all the paperworks and so on directly, without having to rely on a broker to handle the transactions. I recalled one funny event some years ago where I as a registered shareholder managed to gain all offered shares while as far I am aware, quite few investors did not because all their requests added up and found their entitlement reduced overall since from company's point of view, they are considered as single shareholder whose combined amount of requests is too excessive.

But undoubtedly, most investors just want an ease of buying and selling and not getting hassled by paperworks I guess.

miller

I suppose it also makes it easier in this so called "shareholder spring" to voice your disapproval / approval(?) at director renumeration and attend the AGM's (if that's your thing) to get a few free sarnies!

laughingboy

Wondering if anyone can help....

I have £7k spread across few actively-managed funds held in an ISA to which I contribute £200 each month, so this annual charge won't cost me the full £80, I'm currently working on the basis it will cost me ~£40.

However I haven't really been happy with II since they had a change over last year and this charge has given me an excuse to look around.

I thought BestInvest would suit me as they don't charge fees for holding funds or dealing funds online, but what do other people think? Are there other platforms I should consider?

Thanks

gingellr

laughingboy wrote: »

Wondering if anyone can help....

I have £7k spread across few actively-managed funds, so this annual charge won't cost me the full £80, I'm currently working on the basis it will cost me ~£40.


Thanks

How will it not cost you the full £80, do you mean because of the trail commission rebate or because they are now charging to invest in funds, which ever way you look at it are you not paying £80 where in other companies it would cost you nothing?

laughingboy

gingellr wrote: »

How will it not cost you the full £80, do you mean because of the trail commission rebate or because they are now charging to invest in funds, which ever way you look at it are you not paying £80 where in other companies it would cost you nothing?

Yes because of the rebate, are they going to charge for buying funds now?!