Help with my ii confusion please

dunstonh

pqrdef wrote: »

Oh for crying out loud.

Breaking news: Tesco Clubcard points to be banned because hey, you pay for them in the price of the shopping. Shock horror, who knew.

Does anybody think "free" means the company directors pay for it out of their own pockets?

Loads of times in the pensions section we have seen posts refer to HL's SIPP as low cost and have even had examples of people leaving a pension provider with a TER of 0.6% p.a. to go into a fund at HL with not only a TER 3 times that but also a fund with a history or worst fund performance. They were doing it because they thought it was cheaper and better.

fimonkey

fimonkey wrote: »

Typical that! .. Dunstoh are you able to tell me which of the 6 I am considering have already chaged their rules then? Given TD have got the 'new charges from 1st July' sheet am I right in presuming they HAVE already changed?
.

Dunstoh - are you able to answer the above (or anyone else), i.e have TD already changed their way in light of the new regulations?

Thanks

dunstonh

fimonkey wrote: »

Dunstoh - are you able to answer the above (or anyone else), i.e have TD already changed their way in light of the new regulations?

Thanks

I would have to look at the 6 in more detail and then tell you. I don't have time at the moment to do that I'm afraid.

Look for ones that do not charge your explicitly. They are the ones that are reliant on commission and will need to change. The III charges are compliant with the rule changes. So, any alternative should look like that and should state that commissions, where payable, are rebated to you.

fimonkey

OK, last question to all - and thanks IMMENSELY for all your help.

If you were to buy shares in v small amounts (like I am doing) but your intention is to pick up dividend paying shares and hold them for a very long term, AND you were also building up funds buy buying into the HSBC FTSE all shares tracker a small bit at a time - again with a very long term view to holding, WHICH ONE WOULD YOU HOLD IN AN ISA AND WHY? (its becoming obvious that I can't have my cake and eat it, so to have a tracker fund and incidivual shares is going to require splitting them rather than hold them in the same ISA).

dunstonh

With your current holdings, I would not use a platform but a plain brokerage service. Platforms are better suited and priced for larger holdings

fimonkey

Thanks Dunstoh (I think - although I'm thanking you for confusing me more). But WHY would I be better with a brokerage service for my piddly little £150 per month investment? Brokerage services still charge dealing fees which I need to keep as low as possible (I am looking, but so far not found one with a portfolio builder/regular investment scheme)

1. Would a plain brokerage service hold both my shares and HSBC tracker in an ISA? (just yes or no to start with would be good)

2. Where do I find these good old plain brokerage services? (Google search brought up this! https://www.google.co.uk/search?q=brokerage+firms&ie=utf-8&oe=utf-8&aq=t&rls=org.mozilla:en-GB:official&client=firefox-a#hl=en&client=firefox-a&hs=Wox&rls=org.mozilla:en-GB%3Aofficial&sclient=psy-ab&q=brokerage+firms+uk&oq=brokerage+firms+uk&gs_l=serp.3..0j0i5l3.5215.5669.0.6179.3.3.0.0.0.0.59.150.3.3.0...0.0.3e0fJ1V3XNA&pbx=1&bav=on.2,or.r_gc.r_pw.r_qf.,cf.osb&fp=1deb3a27a4d9b1ab&biw=1680&bih=878 ow do I start to tell them apart?

And according to this TD is a broker http://www.ukcitymedia.co.uk/stockbrokers/td_waterhouse.php yet people on these boards are talking about it as if its a platform.

Dunstoh, I appreciate your superior knowledge, but in this case despite you telling me repeatedly I need to look at a plain brokerage service I am no closer to my quest of finding a S&S ISA with which I can hold individual shares AND funds, and pay as little as possible on dealing charges and no other cheeky fees (like the H&L £2 per month for funds, or ii's £20 quarter holding fee). So please explain WHY do you keep saying 'plain old brokerage service'?

grey_gym_sock

1. no, because a plain brokerage means a service which handles shares only.

2. ppl do use the term "brokerage" in different ways ...

but if you look at this summary of the cheapest ISA providers ...
http://forums.moneysavingexpert.com/showpost.php?p=42576120&postcount=3
... and look for ones who don't do unit trusts & OEICs, then there is:

SVS securities
X-O
first direct share dealing
HSBC investdirect plus

though that only covers brokers who have ISAs, so it may have missed some.

fimonkey

Looking at those 4:
HSBC you need to be a current account holder (I'm not, and don;t want to be)
The others charge £5.95 per deal which is just under 4% of the £150 blocks I buy shares in. Compared to £1.50 charged by platforms with regular investment schemes which is 1%. Apparently one of the rules of investing is to keep costs down so still seems like a platform is better for me (another rule is to clearly invest lots of money so the charges don't bother you so much).

grey_gym_sock

yeah, if you insist on buying £150 blocks of shares (which isn't really sensible), then it's probably better to go for a £1.50 dealing charge, even if it means using a platform.

the tricky bit is picking the platform which will be cheapest for you after they've probably all changed their charges again

fimonkey

Lol, I know its 'daft' to buy such small blocks - but if I try to put the money away in a savings account to buy bigger blocks I end up spending it! (No discipline). This is really spare money from when I gave up drinking wine and started walking to work -(yup I save about 150 per month doing that) so I was using it to educate myself about the stock market. I figured if I used money I wouldn't normall have then I would be able to look at hings without emotion (i.e not care if I lost the lot) - my initial strategy was to look at the long term dividend payers -
My education so far is that you need lots of money to get started, don;t trus tthe analysts, and a cash ISA is probably better for me! (given my 'losses' although as said I intend to hold for a long time).

I think I am going to transfer my shares in my ISA to TD (who are also broker - that bit confuses me), and then open another ISA with HSBC and hold my tracker there (cos the ii ISA is last years - so I think I can do this, as you can with cash ISA's, need to research that a bit mroe though).

Either that, or keep my shares in the ISA with TD and just open the HSBC tracker direct with them but not in an ISA.

Still undecided at the moment, it will probably come down to heads or tails!