Commission Free ISAs

BonnieLad

Are there any commission free equity ISAs out there because I am fed up "paying" commission to a NON Existent financial advisor? I know there are discount houses out there that pay you a percentage of the commission but with the changes to TAXATION this will also be taxed even though the source is a tax free ISA.

BonnieLad (alias grumpy)

Lokolo

Some of the fund houses are changing so that rebates are paid within tax wrappers. HL are doing this.

I'm not sure of all the fund supermarkers that are unbundled, some other users will come along though.

jimjames

Either buy funds that are clean so no commission included or use a platform that refunds inside the product.

Not sure what you mean by "it will be taxed". If you reinvest immediately inside the ISA then there will be no tax to pay.

Perelandra

Any Cavendish rebates (through Fidelity) will be paid within the ISA wrapper. At present they rebate 100% of commission they receive (other than 0.05% of the 0.25% platform charge).

dunstonh

Are there any commission free equity ISAs out there because I am fed up "paying" commission to a NON Existent financial advisor?

Financial advisers dont get commission.

I know there are discount houses out there that pay you a percentage of the commission but with the changes to TAXATION this will also be taxed even though the source is a tax free ISA.

Tax will not apply to ISAs.

Remember that DIY platforms work mostly on commission. They will have to move to fee basis soon to avoid the tax issue.

grey_gym_sock

as has been said, cavendish will rebate the entire (typically) 0.5% trail commission (which is supposedly meant to pay FAs). they keep the (typically) 0.25% platform commission, or rather share it with the platform they use (fidelity fundsnetwork). but a platform will always want to be paid somehow.

if you'd prefer a platform with explicit fees, then among D2C platforms, you might look at alliance trust - though their fixed charges are probably only attractive for bigger portfolios. or at charles stanley, who charge a percentage (0.,25% per year). both of them now only offer clean (non-commission-paying) funds.