Fund rebates - Interactive Investor as good as HL?

Sparky47

avfc1982 wrote: »

I'm assuming it's unlikely to be prior to the end of Feb when iii's transfer offer expires.

HL have said they will announce details of their clean funds on 1st March.

jamesd

itm2 wrote: »

I seem to be locked into HL for my SIPP, as there are a few specific funds which I want to keep in the SIPP which don't seem to be available from any of the low-cost fund platforms

You may well find that you can transfer those even if the destination doesn't provide online dealing for them. You may find that phone dealing is available for them also. It'll depend on the specific destination but places know that people hold things that they don't currently make generally available.

koru

avfc1982 wrote: »

I'm assuming it's unlikely to be prior to the end of Feb when iii's transfer offer expires.

I would expect iii to extend the offer or launch another offer, as the flood of refugees from HL will keep flowing into the spring and iii will want to pick up a big share.

FifeheadMagdalen

Does anyone know the size of Interactive Investor, compared to Hargreaves Lansdown? HL report £40billion of funds under management and about 500,000 clients, I believe. What are the comparable figures for II? Thank you.

jimjames

FifeheadMagdalen wrote: »

Does anyone know the size of Interactive Investor, compared to Hargreaves Lansdown? HL report £40billion of funds under management and about 500,000 clients, I believe. What are the comparable figures for II? Thank you.

Good question. It would also be interesting to see how many less HL have once the dust settles.

Their figures showed they would need to increase numbers to offset the reduction in income but that will be doubly hard if they are losing large numbers too.

FifeheadMagdalen

Interactive Investor tell me that they have over 100,000 accounts and £1.5Bn under management.

dunstonh

FifeheadMagdalen wrote: »

Interactive Investor tell me that they have over 100,000 accounts and £1.5Bn under management.

If that is so, then that makes them a tiny player and unlikely to see much in the way of superclean.

koru

dunstonh wrote: »

If that is so, then that makes them a tiny player and unlikely to see much in the way of superclean.

But the underlying platform is Cofunds, so won't they get the superclean deals negotiated by Cofunds?

dunstonh

koru wrote: »

But the underlying platform is Cofunds, so won't they get the superclean deals negotiated by Cofunds?

There are two ways to get superclean. Either the intermediary company negotiates them or platform. So, if Cofunds is the underlying platform, then they should get at least Cofunds deals.

talexuser

This RDR result gets more confusing. If II are using the CoFunds platform (which charges 0.29% or 0.25% etc - extras like switches included) but II only charge £80 a year fixed with extras like switches on top, does this mean Cofunds have a LOT more profit on big portfolios?