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in a nutshell...

We have about 45k invested in a vanguard fund via hl. This money is in two isas.
Would we save a lot of money by changing platform? I am happy with the website and customer service and in the past have suffered poor customer service by certain banks. I also know 0.45% is a lot to pay..

Comments

  • Big_Tree
    Big_Tree Posts: 241 Forumite
    I'm with Iweb and there are no yearly fees, the website is basic but user friendly and it's £5 per trade with a £25 opening fee.
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  • bigadaj
    bigadaj Posts: 11,531 Forumite
    Ninth Anniversary 10,000 Posts Name Dropper
    Do a search in here for snowmans spreadsheet which details a comparison of fees.

    For your situation, OP, then the cheapest providers would probably be iWeb or iii, but do your own research.
  • Totton
    Totton Posts: 981 Forumite
    At 45k you are in the territory of HL being expensive on the basis of their 0.45% platform charge. Contact them and enquire about a lower rate, some have been offered around 0.25%, it they won't play ball then you'll have to decide whether to move platform or not.

    Alternatively you could switch to Investment Trusts which HL will charge you a maximum of £45 per account per year, however year 1 would be more expensive due to dealing fees.

    Personally I stay with HL as I value their service.
  • masonic
    masonic Posts: 24,535 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    You could also consider switching to Vanguard ETFs if you wanted to stay but keep costs down (assuming you trade infrequently).
  • MarcoM
    MarcoM Posts: 802 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    Thanks for the replies. Can the suggested changes still be done under the is a umbrella?
  • Archi_Bald
    Archi_Bald Posts: 9,681 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Yes you can have Investment Trusts and ETFs in an ISA but you don't get the auto rebalancing that you get with the LS funds.
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