Nominee account or investment trust direct

Tractorboy11

I have money invested directly into a witan isa, but am thinking of putting the shares through an isa transfer and keeping the witan shares, into my halifax stocks and shares isa, just to keep admin fees down really, does anyone think its actually better to hold the shares directly with witan. Thanks

Tractorboy11

Anyone got any opinions?

Linton

If that is the only investment you will ever make then there may well be advantages in using the in-house option. I dont know what the charges are - you will have to check that yourself. However if you can see yourself holding a portfolio of several investments, then having them all in one place avoids a lot of hassle. Trying to balance across 5 investments held with different suppliers sounds horrendous to me.

Tractorboy11

I already hold a further 5 or 6 investments in the halifax account, which i pay £12.50 a year account for as many different stocks as i want, where as i have had a witan account for years with the witan trust shares in, but they charge £36 a year for that account

Linton

So why would you even consider holding the Witan investment elsewhere?

Tractorboy11

Elsewhere than halifax you mean,well this is my point really, well as they are witan investment trust shares held directly with witan, is there any advantage of holding them as you say in house, or hardly any difference, i know if i wanted to attend agm's for example its easier holding shares directly with them, that it is in a nominee account. And also i have seen others mention in this forum, can an account get too big?

Linton

Do you want to attend AGMs sufficiently strongly for it to affect your investment process? I dont see much point myself. There may be reasons to use multiple platforms but it seems to me to be only a real concern when your portfolio increases to well over £100K and your investments comprise a major % of your total wealth.

FatherAbraham

Tractorboy11 wrote: »

I have money invested directly into a witan isa, but am thinking of putting the shares through an isa transfer and keeping the witan shares, into my halifax stocks and shares isa, just to keep admin fees down really, does anyone think its actually better to hold the shares directly with witan. Thanks

Halifax will charge a little bit for dividend reinvestment, Witan won't (AFAIK). Prolly not enough to swing it in Witan's favour.

Warmest regards,
FA