Best (cheapest?!) online broker?

Gaaraz

Hi,

I currently have money split between HL (~£60k) and Charles Stanley S&S ISA (~£60k) and I'm at the very least hoping to move all of my funds from HL to Charles Stanley due to the lower fees (~0.25%)

Are there any other sites I should consider? I know that iii is popular but realistically whilst I'm hoping to max out my ISA every year I'm not sure it'd be that suitable to any funds outside of my ISA since I put a little in each month - though I guess I could adjust that to avoid any fees.

Any thoughts please? Thank you

shicky

Please note I'm not speaking from experience as I'm about to ask for help/advice about investments and brokers myself but you might consider iWeb given your level of wealth.

However, if you regularly contribute and/or rebalance, the fees may start adding up so I'd probably do some calculations to see if it's a viable option

bowlhead99

Once you get to the £50- £100k range it's worth looking at the costs in actual pounds. For example, £100k at 0.25% is £250 fees a year and maybe a SIPP admin fee on top.

That's quite a bit of money to buy services: some providers will shave more off your annual percentages or not charge to simply hold share-based assets like ITs or ETF s, instead having more in the way of transaction based fees instead.

Examples, Youinvest or Bestinvest or IWeb all have different structures for how your holdings might evolve. Perhaps the cheapest provider for your ISA circumstances is different from the cheapest SIPP and so you can keep separate. There are a variety of comparison tools listed on here all the time.

le_loup

Last edited by bowlhead99; Today at 10:25 AM. Reason: phone being funny
My phone never tells jokes.

Gaaraz

Thank you very much - I don't have a SIPP (just a regular fund account, and an ISA) so I'm thinking that iWeb looks perfect - the exit fees are steep, but the ongoing costs assuming I stay with them are incredibly low... £5 per deal is reasonable too when compared with other services.

My only concern is that their website doesn't look great, and it's a lot of money to trust to a company that I know very little about. I'll do some research and I'm sure they're fine, I'm just somewhat nervous about putting in more than the FSA (I think that's what it's called?) limit

westy22

Gaaraz wrote: »

My only concern is that their website doesn't look great, and it's a lot of money to trust to a company that I know very little about. I'll do some research and I'm sure they're fine, I'm just somewhat nervous about putting in more than the FSA (I think that's what it's called?) limit

iWeb is owned by Halifax Sharedealing with its registered address at the Halifax HQ.

Eco_Miser

Gaaraz wrote: »

My only concern is that their website doesn't look great, and it's a lot of money to trust to a company that I know very little about. I'll do some research and I'm sure they're fine, I'm just somewhat nervous about putting in more than the FSA (I think that's what it's called?) limit

As said Iweb is owned by Halifax, which in turn is owned by Lloyds Banking Group.

It's the FSCS you're thinking about, and unlike the scheme for bank deposits, is mainly about protecting from fraud and gross incompetence. Your money/shares etc. are held by a nominee company separate from the platform, and untouchable by creditors, so even if LBG goes bust, your money should still be safe.

Gaaraz

FSCS, that's the one - thank you!

And that's great to know, I'm going to open an iWeb account right away and then transfer across my ISA and sell my other funds