iWeb announce post RDR charges (I think)

Chris2000

I was wondering why SWIP Foundation Growth has a cross next to ISA. In this performance table view it's neither y or n, just blank. Looks like the individual fund page defaults to no when the information is missing.

Though it may be a moot point as the units I want to transfer from HL are clean B class (0.09% TER) whereas Halifax/iweb currently only list L class (0.22%). At first I thought B class were exclusive to HL but I've seen them on Charles Stanley. I hope Halifax start adding clean classes soon so I can start my transfer from HL - I don't want to be paying their new platform fees for long.

Porcupine

SWIP Foundation Growth is listing both the B and L class accumulation when you go to buy, but both are ISA-barred. It'll let me buy both in the non-ISA share dealing account.

Anyone know why there are so many ISA-barred funds? Other brokers quite happily let you deal the exact same funds in an ISA.

buffman

The table at the bottom of this article may be of use:

http://www.telegraph.co.uk/finance/personalfinance/investing/10607824/DIY-pensions-The-cheapest-Sipp-fund-supermarkets.html

Knee

Porcupine wrote: »

SWIP Foundation Growth is listing both the B and L class accumulation when you go to buy, but both are ISA-barred. It'll let me buy both in the non-ISA share dealing account.

Anyone know why there are so many ISA-barred funds? Other brokers quite happily let you deal the exact same funds in an ISA.

I e-mailed iWeb a few days ago and asked them why so many funds can't be bought within an ISA. They replied with the following -

There are two reasons why you will be unable to trade a stock in an ISA. Either it is ineligible for the ISA (as the checks are done by each brokerage separately, some brokers will allow you to trade and others will not depending on how strictly the HMRC requirements are adhered to), alternatively, we have not yet checked if the stock is eligible for us to trade.

Unfortunately, the only way to find out for sure is to request us to check the eligibility of each stock. If there is a particular holding that you feel should be ISA eligible, we can look at these on an individual basis. The timescale for this is normally 24-48 hours.

These are normally updated on our Research Centre on a weekly basis.

I gave them 3 funds to check for "eligibility" and it's now been over 48 hours. They are still showing as "ineligible" if I go to the Trading page. I have no idea why they wouldn't allow them in an ISA as they are available on most other platforms (H&L, Charles Stanley etc).

It's all a bit strange.

TCA

Knee wrote: »

It's all a bit strange.

I'd agree with that. I've had a right mess of answers in response to a simply query asking them to confirm which Vanguard funds they offer. I've even given links (links showing different funds) and had one link sent back to me without explanation as to whether the other link showing more funds and ETFs is valid or not. All very confusing.

Plus answers ranging from "we do not produce such lists" to the wonderful "we do not wish to steer you to a particular fund". The latest reply does say kind of say (rather unclearly) that they have just added more Vanguard funds but these aren't visible through their search facility (yet) but can be seen when logged in and attempting to trade. Which is what Porcupine said before. I have pointed out that I'm not a customer and can't log in to check anything, but that's falling on deaf ears.

In the end I've just gone ahead and signed up with them for my ISA. I'll only be trading once a year and they appear to have what I need initially, so it'll do. They don't seem the best organised though I have to say.

rusty69

Porcupine wrote: »

Regular investment plans are being withdrawn:

The response I got fro Iweb when querying whether regular investment plans would be available after March 2014 is:-


"Please be aware that the subscription facility is available all year round, and is not a service provided on a bi-annual basis. Therefore you will have no problems setting up a subscription on or after the 31st March 2014."

I am interested in applying to a platform that has this facility, but can't see it available on their website.

TCA

Rusty69, I can now log-in but my account is still to be activated. There is a message on my home page:

Removal of regular investments:

We are removing our regular investing service due to low demand. If you have a regular investment set up it will automatically stop from 31st March.

Please note all regular subscriptions will also stop from this date.

rusty69

TCA, Thanks for that. This seems to be different information from the e-mail I have received from IWeb. I am keen to open an account with them, but would require the regular investment facility, which it now seems will no longer be available.

TCA

rusty69 wrote: »

I am keen to open an account with them, but would require the regular investment facility, which it now seems will no longer be available.

Halifax own (and I think run) IWeb. You could try them. I don't know what their TradePlan scheme is, which seems to involve other charges, but basic regular investment cost £2 a trade:

http://www.halifax.co.uk/sharedealing/charges/new-charges/

http://www.halifax.co.uk/sharedealing/our-accounts/regular-investing/

rusty69

Halifax would be my next choice, I was hoping to avoid the annual charge, which I web don't have, but Halifax do, although Iweb have an account opening fee.