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in a nutshell...
MarcoM
Posts: 802 Forumite
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..
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..
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Comments
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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.We’ve had to remove your signature. Please check the Forum Rules if you’re unsure why it’s been removed and, if still unsure, email forumteam@moneysavingexpert.com0
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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.0 -
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.0 -
You could also consider switching to Vanguard ETFs if you wanted to stay but keep costs down (assuming you trade infrequently).0
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Thanks for the replies. Can the suggested changes still be done under the is a umbrella?0
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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.0
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