Hargreaves Lansdown "playing hardball"

Lokolo

jimjames wrote: »

No sure that's true.

What about Cavendish Online? Only 0.25% and no dealing charges.

Looks to me like it might be the best option for small investors and possibly large ones until they reach the £200 cap but have no dealing to take account of. Anyone regularly adding money may be better off with Cavendish up to a much higher amount.

Ah yes, I ruled them out for me as you can't hold individual stocks with them, which I would like to do. But you are correct.

Froggitt

SnowMan wrote: »

Looks like HL are extremely good value for fund only SIPPs up to about 40K and still good a bit above that.

HL's platform charge is slightly less than Youinvest below 40K (if we ignore a range between about 8K and 10K where Youinvest become temporarily and marginally cheaper before Youinvest's separate account fee jumps from £20pa to £60pa).

The crossover point is at 40K where the platform charge (before dealing costs) is equal for Youinvest and HL at £180pa.

And then ATS joins the party at £41,333 where the ATS and HL platform charges are the same at £186pa

Or consider The Share Centre where Im in the process of moving my ISAs.......~£50pa fixed.....whether £4k, £40k, £400k. And theyre paying the £25 per fund x6 fine imposed by HL.


https://www.share.com/accounts/isa/self-select-stocks-and-shares-isa/costs-and-dealing-options/


For some reason it seems to be ignored in all the comparisons.

jimjames

dunstonh wrote: »

It looks like one big love-in with the Telegraph. Its almost as if the Telegraph let them write their own news article without checking whether the facts were correct.

Absolutely!

How do you start a price war by being the most expensive?

Just read the article and will have to post a comment on the DT website about it.

Highly misleading to suggest the average charge will be 1.1% when that only applies to a very very small number of funds.

The ones it may well help are those with trackers that now avoid the fixed £2pm fee on any amount from £50 upwards. Percent fees will be cheaper for them up to a certain level

Wilkins

primalgeek wrote: »

They have also tweaked it slightly in that Investment Trust are treated separately than ETFs and Shares. Previously the both came under the same cap of £45 for ISA and £200 for SIPP. Now Investment Trusts have their own cap and ETFs / Shares a separate one. It also appears that Investment Trusts have a holding charge in the Fund and Share Account, when previously the didn't.

Yes, am I reading this right? I was just about to buy an IT in the ordinary Vantage Fund and Share Account but was bought up short reading the docs received this morning. Shares and ETFs remain free of annual charge but ITs don't?

SnowMan

Froggitt wrote: »

Or consider The Share Centre where Im in the process of moving my ISAs.......~£50pa fixed.....whether £4k, £40k, £400k. And theyre paying the £25 per fund x6 fine imposed by HL.


https://www.share.com/accounts/isa/self-select-stocks-and-shares-isa/costs-and-dealing-options/


For some reason it seems to be ignored in all the comparisons.

I was talking specifically about low value SIPPs.

There is a £12 per month + VAT SIPP account fee for the Share Centre as far as I am aware so £173pa. So below £38,400 HL is cheaper even before you allow for dealing costs.

Apart from low value SIPPs, Hargreaves Lansdown are expensive.

jimjames

Wilkins wrote: »

Yes, am I reading this right? I was just about to buy an IT in the ordinary Vantage Fund and Share Account but was bought up short reading the docs received this morning. Shares and ETFs remain free of annual charge but ITs don't?

An IT is a share so should be exactly the same.

Can anyone post the link to the new charges PDF. HL aren't making it easy to find!

primalgeek

Wilkins wrote: »

Yes, am I reading this right? I was just about to buy an IT in the ordinary Vantage Fund and Share Account but was bought up short reading the docs received this morning. Shares and ETFs remain free of annual charge but ITs don't?

Yip, page 16 of the "Changes to the Vantage Service" (sorry, can't provide a link) details this new charge for holding ITs in the Fund and Share Account

Imnoexpert_2

I have just received all the details through the post from HL.

To put a good word in for them they do at least try to communicate with customers in a timely and relatively simple way (they don't always succeed). I am having terrible trouble with a pension provider at the moment who have telephone staff who have given me wrong information and whose correspondence is full of terminology which is not explained.

This stuff matters to me and to a limited extent I am prepared to pay a bit more for good administration a coherent website and help when things go wrong. I never thought I would say this on this website but price isn't everything.

Wilkins

primalgeek wrote: »

Yip, page 16 of the "Changes to the Vantage Service" (sorry, can't provide a link) details this new charge for holding ITs in the Fund and Share Account

Check! 0.45% with max £45. That was a narrow escape for me, but I don't like the look of it. Nothing to stop them charging for unwrapped ETFs next. Looks like I'll be veering back to TDD or maybe use X-O.

Rollinghome

jimjames wrote: »

Can anyone post the link to the new charges PDF. HL aren't making it easy to find!

Via google http://www.google.co.uk/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&ved=0CEsQFjAA&url=http%3A%2F%2Fwww.hl.co.uk%2F__data%2Fassets%2Fpdf_file%2F0006%2F7797741%2FChanges-to-the-Vantage-Service-explained.pdf&ei=X2_WUq--EdSV7AaTg4DYBQ&usg=AFQjCNEhoS1UK9WgM49jg4Yv2D_mg7tL-Q&sig2=GJgcpFX-EVBuXbY7ssGQaQ&bvm=bv.59378465,d.d2k&cad=rja

I also got a hard copy this morning, have yet to read it.