iii introducing quarterly £20 charge

laughingboy

pqrdef wrote: »

Yes and no - your first £20 of trading commissions per quarter comes free.

So from what I understand from the website http://www.iii.co.uk/investing/isas/charges it will cost me £10 to buy into a single fund each month? Surely I've misunderstood something there?

gingellr

laughingboy wrote: »

So from what I understand from the website http://www.iii.co.uk/investing/isas/charges it will cost me £10 to buy into a single fund each month? Surely I've misunderstood something there?

Yes it will cost you £10 each time you buy into a fund, but your £20 admin fee will cover the first 2 of the quarter, look at the admin fee as a credit for dealing charges, but it does not carry over to the next quarter if you don't use it.

gingellr

Although if I was buying into a fund on a monthly basis with ii, I would use regular investment so it would only cost £1.50 which the £20 would also count towards, but I still think a provider that does not charge for buying or selling funds is better.

tenpac

Did anyone else sell everything before they announced the waiving of fees when closing the account?

laughingboy

gingellr wrote: »

Although if I was buying into a fund on a monthly basis with ii, I would use regular investment so it would only cost £1.50 which the £20 would also count towards, but I still think a provider that does not charge for buying or selling funds is better.

I thought portfolio builder was for share purchases not funds?

avfc1982

I have a number of HSBC accumulation tracker funds as part of a passive portfolio that I'm going to transfer across to TDW without exiting the market, 4 of them went Ex-Divi back on 30th May.

Will this mean that that the dividends will be credited to my TDW account or will they be credited to iii meaning I'll have to chase them once they're paid?

gingellr

laughingboy wrote: »

I thought portfolio builder was for share purchases not funds?

Currently you can set any fund to purchase, if you look at the regular investments tab in your account you can click edit portfolio and add any fund there to be purchased on the 23rd of each month. I have been buying funds this way for a few months now, but of course currently there are no dealing costs to buy funds

Now whether ii will change this on July 1st when they start charging to buy funds your guess is as good as mine!

gingellr

avfc1982 wrote: »

I have a number of HSBC accumulation tracker funds as part of a passive portfolio that I'm going to transfer across to TDW without exiting the market, 4 of them went Ex-Divi back on 30th May.

Will this mean that that the dividends will be credited to my TDW account or will they be credited to iii meaning I'll have to chase them once they're paid?

Not that this helps but I have spoken to two different people at ii, one said the dividend will go to your new broker the other said ii will get it but will forwarded to the bank account they have on record with them!

Logically in my mind if shares were registered to the ii nominee on the dividend record date and before the shares went ex dividend, the dividend would be paid to the ii nominee. It's then ii's responsibility to transfer the dividend....but that's just my opinion

pqrdef

gingellr wrote: »

Currently you can set any fund to purchase, if you look at the regular investments tab in your account you can click edit portfolio and add any fund there to be purchased on the 23rd of each month. I have been buying funds this way for a few months now, but of course currently there are no dealing costs to buy funds

Hmm. The web pages on Portfolio Builder now avoid all mention of funds and just keep talking about "UK shares".

pqrdef

tenpac wrote: »

Did anyone else sell everything before they announced the waiving of fees when closing the account?

2/3 of everything, yes. Will be writing to ask for a rebate.