Hargreaves Lansdown charges.

Lokolo

takesyourchances wrote: »

HL's website is excellent and very easy to get around and others I seen don't look to be as good and basic. I guess it comes to if you want to continue with their web site you need to pay their premium.

At the moment on my amounts it is not huge money on fees, I am maybe considering staying until such times my ISA pot becomes bigger and the fees are really noticeable.

Few months to decide or maybe longer, I won't rush but I think I would be prepared to pay a bit more in fees than have a company with a very basic and not so good web site to work with and not go solely on the lowest priced option.

.

I was thinking the same until you realise the number of charges (from June) you get hit with when you finally want to leave.

£25 to transfer in cash + £25 closure fee, although I suppose you don't have to pay the closure fee. But I suppose on a £25k portfolio thats only a 0.2% fee.

colalba

dunstonh wrote: »

You get similar differences in the IFA world. Some platforms are basic. Some are just fund supermarkets, some are full trading wrap platforms. They are not all equal. People really need to do their research and not focus on price alone.

Does anybody know of any articles / reviews of the competing platforms listing the strengths and weaknesses of their web site as opposed to costs ?

grey_gym_sock

Lokolo wrote: »

I was thinking the same until you realise the number of charges (from June) you get hit with when you finally want to leave.

£25 to transfer in cash + £25 closure fee, although I suppose you don't have to pay the closure fee. But I suppose on a £25k portfolio thats only a 0.2% fee.

i suspect you do have to pay the closure fee, because the new terms say they'll collect it when a withdrawal takes the account value below £50.

OTOH, you could avoid paying the cash transfer fee by having almost no cash in the account, and asking for a transfer of stock only, and then withdrawing any small amount of cash left over.

takesyourchances

Lokolo wrote: »

I was thinking the same until you realise the number of charges (from June) you get hit with when you finally want to leave.

£25 to transfer in cash + £25 closure fee, although I suppose you don't have to pay the closure fee. But I suppose on a £25k portfolio thats only a 0.2% fee.

Yes understand that from June more charges will be in place. I wouldn't want to sell my holdings to cash and then re-set up again, if I did leave HL, I would prefer to transfer my complete stock holdings over.

This consists of a Vanguard LS and 6 managed funds. I would prefer to keep the various drip feed prices bought at and the pound cost averaging with this than sell back to purely cash and buy back in.

I am not fully up on charges to do such a thing, can anyone shed some light on this as this could be another cost factor to decide etc?

Thanks.

Totton

When I transferred to HL it was easiest to convert to cash and then re-buy the funds, everything proceeded much cleaner and quicker. Other than that you involve the different fund companies and as we know they tend to move at different speeds.

takesyourchances

Totton wrote: »

When I transferred to HL it was easiest to convert to cash and then re-buy the funds, everything proceeded much cleaner and quicker. Other than that you involve the different fund companies and as we know they tend to move at different speeds.

Thanks Totton, will need to give this some thought over the next while.

I'm kind of reluctant to sell back to cash and buy back in and un-do the drip feed effect. All confusing.

With towards 12K so far I will hold out for a few months and see. The fees won't overly affect greatly on my amount but in time it will increase.

Thanks.

pip895

takesyourchances wrote: »

I'm kind of reluctant to sell back to cash and buy back in and un-do the drip feed effect. All confusing.

Why would selling the units on one platform and buying the same units on another platform undo your original dip feeding in.????
Or are you just worrying about what it is reporting as your profit on the web site? You are likely to loose this reported profit on transfer anyway. Your real profit and the benefit of pound cost averaging are yours to keep.


It is essentially the same as transferring only potentially quicker.

masonic

pip895 wrote: »

It is essentially the same as transferring only potentially quicker.

Liquidating the funds and transferring in cash not essentially the same as transferring the stock. Say you sell up and are out of the market for 2-3 weeks, meanwhile your funds go up in value. When you buy them back, you suffer a loss which could be more than the fee for transferring the stock. Say you have an average of £5000 per fund and they increase by 2%, you'd end up down £100 per fund, which is more than the £30 per fund you would spend for an in specie transfer. Of course, the market could also fall, in which case you'd gain...

westy22

pip895 wrote: »

You are likely to loose this reported profit on transfer anyway.

When I recently completed an in specie transfer of some 20 holdings to another provider I was pleasantly surprised to see that all of the 'history' came along with the shares including original cost prices, profits etc.

takesyourchances

pip895 wrote: »

Why would selling the units on one platform and buying the same units on another platform undo your original dip feeding in.????
Or are you just worrying about what it is reporting as your profit on the web site? You are likely to loose this reported profit on transfer anyway. Your real profit and the benefit of pound cost averaging are yours to keep.


It is essentially the same as transferring only potentially quicker.

I am maybe thinking of this wrongly and confused as transfers never came to light until recently. I was thinking that if I sold what I have now and went into cash and re-bought the same funds and Vanguard LS on another platform, I was thinking I would be buying with lump sums at say the price today or the day that I buy them. In most cases price per unit is up etc.

I was thinking in some cases they will be much higher per unit than say 12 months ago. I was not really thinking about the profits at the moment but the buying in price, for example say one fund is 15% to 20% higher now than l12 months ago that I bought with a lump sum then.

I could well be confused by it all so excuse me on that.

Thanks.