iii or FD Waterhouse?

kedj

Anyone know for sure if the iii fund trading is still broken?

I have a few shares with iii, though not in an isa. Mine and O/H isas are currently with fundsnetwork. I was thinking of taking one of our isas with iii next year and moving the shares in too. One thing I do like about iii, is the portfolio builder where on specific dealing days you can buy shares for £1.50 (though there doesnt seem to be a selling equivalent). Bit concerned about the reservations expressed here about iii, but havent had a problem with the few shares I have bought and the share platform is pretty easy to use.

rathernot

kedj wrote: »

Anyone know for sure if the iii fund trading is still broken?

Depends what the definition of "broken" was. I have an iii Investor account and a Mini ISA with them and have recently purchased/added funds on both online.

jamesd

munk, as well as phone dealing with Hargreaves Lansdown you can buy one fund for 1000 and then sell any portion of it and split the proceeds up to five ways. Repeat as desired. There's no extra cost for you if you do this provided the initial one has a purchase discount that's the same as the purchase fee percentage.

munk

munk, as well as phone dealing with Hargreaves Lansdown you can buy one fund for 1000 and then sell any portion of it and split the proceeds up to five ways. Repeat as desired. There's no extra cost for you if you do this provided the initial one has a purchase discount that's the same as the purchase fee percentage.

Cheers jamesd, that's another idea then. Perhaps this is a solution to another problem I'm mulling over right now:

I have a £10k lump sum to invest right now but only £4k (S&S) ISA allocation left, so I was going to drop £4k out of the £10k into various funds under the ISA wrap and then invest the remaining £6k in outside ISAs right now (well, over the next few months).

Come next April I obviously want to use up the 2008/9 £7200 ISA allocation - have been thinking how to effectively 'apply' the 2008/9 £7200 ISA to the £6k that'll be in outside ISAs at that time next April.

The only way I can think of doing this is to sell the £6k worth of outside ISAs in April and then reinvest it under the ISA wrap. However if this is going to cost me £25 per fund (to exit from each of 10 funds at HL), it's really not going to be worth doing - I might as well just invest £4k now and the other £6k next April.

Is there an easy way to do this or should I just invest the £4k now and the other £6k next tax year?

I'm bringing this up now because your solution re splitting up a single fund purchase into smaller parts and reinvesting each part sounded very briefly as though it might be a way around this ISA problem. Not so sure though...

Cheers!

jamesd

Give HL a call and ask them about moving from the Vantage fund account to the Vantage ISA. It should be possible to just move without sale and repurchase but if not the price for a sale and repurchase probably won't be more than 0.25% given their normal discounting levels.