iWeb opening fee increase

Rollinghome

DominicH wrote: »

Do they have a good range of funds, e.g. the Vanguard ones? I can't see a way of listing available funds without logging in, nor on Halifax Sharedealing, which I presume is the same platform.

You can search for funds here... and they do seem to offer Vanguard funds - assuming those listed are available.

Interestingly, they also list classes for other fund managers that have an OCF a whisker lower than those offered by HL or Fidelity.

badger09

draper29 wrote: »

It's worth opening one up(at the cheaper £25) if you are going to use your ISA allowance for 2015/16 and they have the funds you want.

I opened one up a few years ago and didn't use it for ages when comparing Annual costs for Fidelity, Hargreaves and IWEB

Hargreaves £15,240 + annual charge of .45% of fund = £68.58
Fidelity £15,240 + annual charge of .35% of fund = £53.34
IWEB £15,240 + NO annual charge

If you are going to hold funds for a period of time you will save the above charges EVERY year. Even if you pay the dividend reinvestment fee of 2% it is still more cost effective than the examples above.

But you also need to consider dealing costs. HL do not charge for purchase/sale of funds, whereas IWeb charges (a modest) £5.
Even monthly 'drip feeds' will impact your charge savings.

DominicH wrote: »

Do they have a good range of funds, e.g. the Vanguard ones? I can't see a way of listing available funds without logging in, nor on Halifax Sharedealing, which I presume is the same platform.

They do have the Vanguard funds

I have my ISA with IWEB and apart from some initial teething problems with the transfer from HL, I'm very happy with the basic service. I've tended to buy 3 or 4 times a year so their pricing model suits me

jimjames

Rollinghome wrote: »

You can search for funds here... and they do seem to offer Vanguard funds - assuming those listed are available.

Interestingly, they also list classes for other fund managers that have an OCF a whisker lower than those offered by HL or Fidelity.

Account now opened and ready to initiate transfer.

I've found 2 FTSE UK trackers at 0.1%, as the only cost to hold that is a substantial saving against Fidelity & even more so HL who promote one at 0.06% but then with 0.45% platform fee.

Website looks incredibly dated but does all I need.

JohnRo

jimjames wrote: »

Website looks incredibly dated but does all I need.

No bad thing, it fits well with the whole passive theme, in as much as you're actively repelled from checking the valuation more than once a year

steelbru

The weirdest/most-annoying thing is the valuation screen, where you go to see what your portfolio is worth.

They don't give the fund name, just a 6 letter code, eg PKGGIA which is Artemis Global Growth Acc ( obviously ! ). It does show the name if you hover over it, but if you're in a lot of funds then not ideal.

There is a way around it, which is to click the "Printer Friendly View" option, which shows all the same info, but with full fund names.

Hey ho, at £5 a trade and no on-going fees ( apart from re-investment ) then I can live with it !

jimjames

Archi_Bald wrote: »

£200!!

Seems they don't want new customers any longer.

It might have opposite effect short term with massive spike in new customers. Having opened my account I've realised quite how much I can save, much more than I expected.

badger09

jimjames wrote: »

Account now opened and ready to initiate transfer.

I've found 2 FTSE UK trackers at 0.1%, as the only cost to hold that is a substantial saving against Fidelity & even more so HL who promote one at 0.06% but then with 0.45% platform fee.

Website looks incredibly dated but does all I need.

Just part of a balanced portfolio I trust

jimjames

badger09 wrote: »

Just part of a balanced portfolio I trust

Ha ha, yes that was just one example I looked at earlier as it was a slow process to check.

I'd not looked to move from Cofunds as they haven't applied RDR pricing yet so I'd thought that trackers would still be cheaper with them. With the iWeb pricing that clearly isn't the case and I can reduce fees from around 0.25-0.3% pa to 0.1% which will make a big difference.

Even better I'd assumed that I'd be charged £5 per fund to purchase when I transfer. It appears that isn't the case and an in-specie transfer is possible which has no cost associated.

ffacoffipawb

jimjames wrote: »

It might have opposite effect short term with massive spike in new customers. Having opened my account I've realised quite how much I can save, much more than I expected.

Indeed, I have just opened an account when I probably would not have bothered otherwise!

Gadfium

Ditto. I've been toying with moving to iWEB, but this has convinced me.
I have a small ISA sitting with the Halifax which charges £12.50 per annum. It's been sitting there for years with some shares in it, so I will transfer it to iWEB now. My HL ISA will be next!