Am I overpaying in platform charges

wearethedogs

Hi,

I struggle to compare fees for the different platforms. When I first started investing I went with Charles Stanley Direct on the understanding that they were cheapest at the time. I was hoping that someone who has a better level of understanding would be able to critique my holding and let me know whether there is any money to be saved

I hold 2 funds, both of which are held in ISAs:


Any responses gratefully received.

TCA

As far as I'm aware, what you posted will include dealing costs (in tax cost) but probably not platform charges. Either way CSD charge 0.25% (up to £500k) which is about £62 per year for your holding. That's probably quite reasonable but there are platforms like iWeb where you pay an initial £25 then no ongoing platform fees and TD Direct which charges no ongoing fees if your ISA is worth more than £5,100. Cost isn't the only consideration however.

FYI http://monevator.com/compare-uk-cheapest-online-brokers/

badger09

OP don't forget you will pay the Fund's charges whichever platform you use.

Whether Charles Stanley is cheapest/best for you, depends also on how often you buy and sell. For example, although IWEB has no ongoing charge, you will pay £5 every time you buy or sell. That's great if you invest in lump sums, but if you invest monthly, or more frequently, those £5 soon add up.

Have a look at the link posted by TCA for a comprehensive comparison.