Axa self investor - Cunning plan or not for HL ISA escapees?

SnowMan

Axa self-investor have an offer for investors to pay no platform charges on their investment (funds) ISAs until 1st May 2015.

After that it is something like 0.5% pa so expensive.

The interesting bit is that they don't seem to have any exit fees.

Just wondering if there is a possibility of free parking an ISA and then picking the best platform to switch to around April 2015 when all RDR announcements have been made.

Might be a good option for HL customers who are trying to get out quick before the new reinforced barbed wire fence goes up at HL.

Now as the Smiths said, 'plans can fall through as so often they do'

So where does this plan fall through?

SnowMan

https://www.axaselfinvestor.co.uk/our-charges/

Why no ISA account charge until 1 May 2015?

We want you to have time to experience managing your own ISA online using our investment service and feel comfortable it's right for you.

We're confident that from 1 May 2015 you'll be happy to pay our 0.5% per annum standard account charge on the value of your stocks and shares ISA investment and continue to use the service. But if not, we won't charge you to go elsewhere.

No Vanguard funds there as far as I can see in their funds list (you need to scroll down and click the right hand of the 3 view choices boxes to see the full range, their page looks like it is set up to make it difficult to see the full range). But C class HSBC trackers and L&G I class trackers are there.

Rollinghome

For anyone getting a headache from all the offers and changes would be an ultra-low cost opportunity to lie low until it all settles down.

Downside for some will be the limited number of fund options and pretty much being obliged to move again after a year when they start charging. Even then they're mercifully free of all HL's new stealth fees and transfer out ransoms.

I'm still hoping to see more providers trying to bribe me by offering to pay the transfer fees. I'm anyone's if the price is right.

kidmugsy

Rollinghome wrote: »

I'm still hoping to see more providers trying to bribe me by offering to pay the transfer fees. I'm anyone's if the price is right.

The ATS price is £150.

platformman

Certainly an option to put your money while all the pricing stuff goes on. In fact, here is what Axa sent to journalists yesterday, confirming this point. Might be a decent strategy?

“We’re pleased to see another provider announcing a simple proposition. Clarity is what this market is crying out for. It seems keenly priced at 0.35% a year with no extra hidden charges. However if headline account price is important to you, you can’t get any cheaper than free. That’s what we’re offering people investing in a stocks and shares ISA this ISA season, until May 2015. Only fund management charges will apply. Remember there will be lots of announcements on pricing in this market over the coming weeks, and we expect further tactical tweaking to take place. If you want a safe harbour for your money while the market settles, AXA Self Investor offers that. If, after the first free year you’re not happy with the price – currently 0.5% a year - you can leave with no penalty. I don’t think you could get a fairer offer than that.”

bertpalmer

So where is the cheapest place to park Vanguard LS funds at the moments? II?

platformman

If you're looking to make sense of all the pricing announcements you'd do well to go to the lang cat website and read the blogs (just search for the lang cat in Google for website). They're independent platform consultants and produce lots of analysis and pricing tables.

avfc1982

bertpalmer wrote: »

So where is the cheapest place to park Vanguard LS funds at the moments? II?

If it's Vanguard LS 100% equity you're after I'm thinking iWeb, Motley Fool Sharedealing or Halifax Sharedealing ISA's are some of the cheapest aren't they? However they don't offer the full Vanguard LS range.

iWeb - £25 one off ISA set-up fee
MF Sharedealing - 12.50+VAT per 6 months
Halifax - 12.50 per year

No platform fee on any of these as far as I can see.

£25 transfer out charge per fund if you want to move in future.

This is the HL transfer out option I'm looking at at the moment as I have an account at MF sharedealing.

SnowMan

Interesting development that Axa Self-investor are reducing their platform charge from 1st May 2015 from 0.5%pa to 0.35%pa.

https://www.axaselfinvestor.co.uk/our-charges/

hyposmurf

Any more news on this offer?Is anyone interested in moving there?I was looking to move to Charles Stanley, now wondering whether I should move to this offer and park my funds while all the offers start to settle.

Just wondering where the sting in the tail is for this offer?I know you have to become a customer by a certain date to get the no fee offer.