Genuine alternative to HL?

planteria

Rollinghome wrote: »

I hadn't noticed anyone suggesting anyone moves immediately if that's what you're saying but perhaps I missed whichever posts you're referring to. On the basis of what HL have already said it obviously does make sense to consider the options.

agreed. hence the thread.

i certainly want to hold Funds and Shares in my ISA. for now i only have funds in my SIPP, but having the option to hold Shares there too would be nice.

anyone any other suggestions as to who to have in mind as alternatives to HL?

grey_gym_sock

a small SIPP, with both funds and shares, is tricky.

HL can be OK for that, since they have no fixed charge. they haven't said they'll change that (though we don't know until their new charges are out).

1option is youinvest. they've only just introduced a fixed charge for SIPPs: £20 p.a. on SIPPs under £10k; £60 p.a. on £10-20k; £100 p.a. on £20k+. plus a 0.2% p.a.. charges on funds held (not on shares). so that 0.2% is presumably less than HL will charge, but there are some fixed charges on top. (and they don't charge the 0.5% p.a. which HL charge on shares held in a SIPP.)

planteria

so youinvest guide you into being better off to select shares, whereas with HL, potentially, you are better off sticking to funds. ?

PParka

Just read on Investment Week that HL are anouncing their new pricing on 15th January.

http://www.investmentweek.co.uk/investment-week/news/2321566/hargreaves-to-announce-clean-pricing-model-next-week

westy22

Excited :j It's like waiting for Christmas (or Armageddon!)

Rollinghome

westy22 wrote: »

Excited :j It's like waiting for Christmas (or Armageddon!)

Could be like chomping trough a new budget announcement, working out who the winners and losers will be.

The idea of RDR was to make comparisons easier but I expect the industry will do their best to keep it as murky as possible. Will be interesting to see which funds they get special deals on and get to be in the new Wealth 30.

I see HL were out yesterday (here) making excuses for the under-performance of PSigma Income, M&G Recovery and Troy Trojan over the past few years. Is that an indicationn they've got a deal with them and they'll get their gold stars?

rpc

PParka wrote: »

Just read on Investment Week that HL are anouncing their new pricing on 15th January.

http://www.investmentweek.co.uk/investment-week/news/2321566/hargreaves-to-announce-clean-pricing-model-next-week

So now we just need BestInvest to be able to see where is best.

Unless they do it terribly badly, I think I'll be moving from HL to BestInvest or the new trustnet platform. HL works out quite cheap for me at the moment but I expect that to change. Exit fees might hurt a bit...

grizzly1911

Rollinghome wrote: »

It's quite a hassle to move an ISA from Hargreaves Lansdown in particular and, unlike Fidelity who make no charge, they hit you with a fee of £30 for each fund or stock you want to move from them in specie rather than in cash.

A PITA but could funds be switched into one or two "safe" holdings holdings, then transferred, reducing transfer cost, then split once again when at their new home? Appreciate there may be time out of market for some funds whilst in transition etc.

planteria

grizzly1911 wrote: »

A PITA but could funds be switched into one or two "safe" holdings holdings, then transferred, reducing transfer cost, then split once again when at their new home? Appreciate there may be time out of market for some funds whilst in transition etc.

i suspect there will be a lot of that.

Rollinghome

grizzly1911 wrote: »

A PITA but could funds be switched into one or two "safe" holdings holdings, then transferred, reducing transfer cost, then split once again when at their new home? Appreciate there may be time out of market for some funds whilst in transition etc.

That's what I'll probably be doing unless HL amaze us all by deciding to be competitive, roughly match what's there with a couple of holdings. I'd guess I'd have about the same chance of winning a few pennies during the move as losing them.

With our non-ISA holding I sold them in parcels of £10-20k and bought them again on the new platform on the same day. I used 4 Lloyds Vantage current accounts and timed it to lose just a day of interest.