Help with my ii confusion please

grey_gym_sock

well, you could put your real money in funds, and run a virtual portfolio of individual shares (a few sites let you do that).

but if you insist on real regular dealing, you could look at: sippdeal, selftrade (who have a quarterly inactivity fee, but 1 regular deal in the quarter is enough to avoid it), TD direct, or iweb.

fimonkey

GRRRR the sippdeal funds list that you can invest in for 'nil' charges doesn't include a FTSE tracker and the AMC's are all above 1% (I am a very novice/simple investor).

How much do sippdeal charge to sell and/or transfer out?

Hmmmm ii are really giving me a headache because I have been through this before when I first opened my account with H&L then they began charging - I want to invest more seriously in a FTSE tracker (as in £100 per month held for a long time - I like the HSBC all shares) but then also buy individual shares for my own education, and I can only afford little amounts here and there - and I would like to hold them all in an S&S ISA. Seems like I want the moon on a stick!

OPTIONS are (as I see it)
1. So - I can transfer my shares in my ISA to sippdeal but not my HSBC tracker which I would sell, along with my shares in my ii trading account - and then buy the HSBC tracker but not hold it in an ISA.

2. OR - I hold my tracker in an ISA and then buy my shares OUTSIDE of an ISA - but then as i add to this pot I become liable for CGT. (does anyone know where I can find an ISA which holds the HSBC all shares tracker for low/no fees EDITED to say answered my own question - seems selftrade do.

3. OR - can I hold two ISA's and contribute to both but not exceed the limit? (i.e HSBC tracker in one ISA, my shares in another)?

Thoughts and help please.

fimonkey

Lansdowne wrote: »

Because of the titchy size of your holdings, you will continually have the same issue that every charge applied eats into the amount invested. Although III have said they will waive fees, the next provider you choose to use may not do so, when it's their turn to change their fee structure.
It's up to you what you do, but it might be simplest just to sell and go back to cash Isas etc, or simplify to one or two funds, held somewhere less likely to bring in a fixed fee.

I know I might face this headache of charges again (as I did with H&L) but the whole purpose of my portfolio is a 'learning fund' (hence small amounts of cash that I can afford to completely loose it it goes wrong). Never have any intention of selling my dividend shares as that's one of the lessons I am putting into practice (long view - divi shares).

fimonkey

Looking at what's available in the regular investment part of selftrade it states "UK Shares - you can invest into the UK's biggest companies, members of the FTSE100 Index. If companies drop out of the Index we'll review their inclusion in the service and let you know if they are to be excluded" http://www.selftrade.co.uk/services/other/regular-investments.php

Does that mean I can ONLY invest in FTSE 100 companies for regular investment, and if I hold them but they then drop out of the FTSE 100 I have to SELL the shares I already hold? (and then pay the selling price for this too even though its not my choice to sell them?)

If so that wouldn't work (might as well stick with a tracker in that case) because I do want to diversify out at some point in the future. Or have I misunderstood this?

... They do hold the HSBC all shares tracker though, and it looks like they DON'T CHARGE to buy this fund - am I right? (and if so what charges for selling - I will investigate).

SO if I go with option 2 from post 24 then I could hold my tracker with selftrade (and also the shares I have already bought - the dividend payers because they are all in the FTSE 100) - BUT then look around for another dealer for a portfolio type of builder where I can dabble in other companies. - Do I sound like a complete crackpot?

I am concerned that I would suddenly do well with my shares held outside my ISA and then have to pay tax etc - I know with the piddly amounts I am talking about I am a long way off that - but you never know it could happen!

grey_gym_sock

for holding HSBC trackers, directly with HSBC (in "HSBC global investor centre") is 1 option. presumably they are unlikely to introduce charges to hold their own trackers. they do ISA or unwrapped, but don't currently accept transfers in of ISAs.

if your ISA contains subscriptions from the current tax year, i think you can't split the current-year part, but you can split previous years' ISAs (i.e. transfer specific holdings and/or a certain amount of cash to a different provider). dunno how smoothly that works, though ...

grey_gym_sock

fimonkey wrote: »

Looking at what's available in the regular investment part of selftrade it states "UK Shares - you can invest into the UK's biggest companies, members of the FTSE100 Index. If companies drop out of the Index we'll review their inclusion in the service and let you know if they are to be excluded" http://www.selftrade.co.uk/services/other/regular-investments.php

Does that mean I can ONLY invest in FTSE 100 companies for regular investment, and if I hold them but they then drop out of the FTSE 100 I have to SELL the shares I already hold? (and then pay the selling price for this too even though its not my choice to sell them?)

ah, i think you can keep the shares you have but not buy any more (with regular dealing).

fimonkey

grey_gym_sock wrote: »

well, you could put your real money in funds, and run a virtual portfolio of individual shares (a few sites let you do that).

but if you insist on real regular dealing, you could look at: sippdeal, selftrade (who have a quarterly inactivity fee, but 1 regular deal in the quarter is enough to avoid it), TD direct, or iweb.

I tried a virtual portfolio - but it wasn't 'real' to me so I didn't learn anything snf got lazy.

Does selftrade inactivity fees include the £1.50 regular investment - so I can avoid the inactivity fee by regular investment?

fimonkey

OK, so here's what I have found out so far - and thanks to everyone who's helped.

1. Bestinvest. - no good. They have the HSBC tracker and its free to hold, but for my individual shares its a £12.50 quarterly custody fee and £12.50 to deal. No cheap £1.50 regular investment that I can see. £20 per assett to sell and £50 to close the account.

2. Sippdeal. Don't hold the HSBC tracker (so would pay £12.50 per quarter to hold this). Do have a regular investment service of £1.50 which doesn't seem to be restricted to the type of shares bought. How much to sell, transfer out or close the account? I can't see it on their list of charges here http://www.sippdeal.co.uk/Isa/ChargesAndRates/

3.Selftrade. Holds the HSBC tracker AND has a £1.50 regular investment but this is only for FTSE 100 companies. £20 per line to transfer out, £15 to sell. What's the identity monitor and is it a compulsory charge?http://www.selftrade.co.uk/services/price-list.php. Free to buy funds which would be the HSBC tracker. Looking here http://www.selftrade.co.uk/services/other/regular-investments.php it says there is a dividend reinvestment service fee of £1.50 - so I presume I would just have the divi's paid to me instead (as I currently do with ii).

4. Halifax. Can't see a list of shares they allow in their ISA, also I can't see if they have an inactivity fee, can't see if there is a fee to close the account, or to transfer out (their website is poor) Does anyone know what these are please? Looks likes no charge to sell a fund, and 1.25% to sell as share (or min £30).http://www.halifax.co.uk/sharedealing/charges/ They do have the HSBC all shares tracker http://www.halifaxmarketwatch.co.uk/funds. £2.00 per deal on their share builder (but on the HSBC tracker factsheet it says this can't be held in a share builder but can be held in an ISA http://www.halifaxmarketwatch.co.uk/security.cgi?username=&ac=&csi=35193&record_search=1&search_phrase=HSBC this confuses me, as my sharebuilder would be IN my ISA (or is that not possible with the Halifax?)

5. iweb. 'portfoilio builder' = £2 per deal, no annual admin fees (is this likely to chage do you think?) £50 to close the account, £25 per line to transfer out. (£65 to repair ISA - what does that mean??) . ... They have details for a self select S&S ISA, and a self select funds ISA - does that mean that to hold S&S and funds you need two different ISA's with them?

6. TD direct. Charges about to change 1st July too (which I hope means they won't change them again in the near future - right?). http://www.tddirectinvesting.co.uk/~/media/uk/pdf/rates-charges-upcoming.ashx
Regular investment of £1.50 but only in the FTSE 350 companies (so more freedom than selftrade but still not ideal for my future plans). Free to buy funds. Platform fee - How do I know if that applies or not? Does the HSBC fund pay a trail commission of more then 0.5%p.a? 12.50 for inactivity per quarter (which I will avoid by regular investments). What's a nominee facility (charges £35 for transfer out). How much to sell, transfer out and close the account? (Again I can't see it on their charges sheet). Its looks like its FROM £8.95 per trade to sell http://www.tddirectinvesting.co.uk/choose-an-account/trading-isa/regular-investing/ but then that same sheet talks about the nominee service which says in the other URL that it is £35 for a transfer out. Would like to know EXACT figures based on what.


I will go away and have a think now, but if anyone has any answers to my questions above I'd be REALLY grateful to hear them (and comments/opinions/critisisms etc.

Thanks

fimonkey

Based on teh above, it seems that TD Direct will be my best bet - am I right or missing something?

Thanks HUGELY to everyone who is helping me. I have tried calling some of the companies to ask questions (Halifax and ii) but they are always 'vague'. Plus when I got stung for the H&L transfer out charges despite talking to H&L beforehand I realise how cunning they can be with their language if you don't ask very specific questions - and at the moment I don't have the financial vocabulary to ask the specific questions.

fimonkey

Oh and now I have another dilemma.

Easy to transfer the ISA, but I also have a trading account with ii (which was back in the days when I had my ISA with H&L but was using ii to buy shares).

To get my shares from the trading account with ii to my new ISA - is that called a bed and transfer? If so - what are the charges there (say if I want to transfer to TD).