Halifax Sharedealing - feedback?

mgarl10024

Hi,

I'm reasonably new to investing, so advice welcome!

I have dipped my toe in the water by holding this year's ISA allowance (15k) of Vanguard LifeStrategy 100% Acc through Charles Stanley Direct - as a lot of advice on here suggested to do.
I'm happy with my fund choice, and have found Charles Stanley to be very good - responsive and helpful.

I'm looking forward to the next tax year, and am concerned that the percentage based charges of Charles Stanley stop working for me should I add the ISA allowance next year (so total value is now 30k).

My thinking is to select next year's broker based on a 30k investment into Vanguard LifeStrategy 100% Acc, made up of a single lump sum of 15k and transferring the 15k from CSD.
I'm effectively looking for the cheapest way to hold 30k in the Vanguard LifeStrategy 100% Acc fund.
As this will likely be a single or maybe a couple of transactions, I'm more concerned about low platform fees than I am about high trade charges.
As this is likely the only fund I'll buy, I'm not really interested in research.
And as my requirements are simple (holding a fund which is priced daily and occasionally buying) I'm not too interested in paying a premium for gold-plated levels of service and fast telephone response times.

Most of the comparison tables suggest that either iWeb or Halifax are my best options, though the £200 opening fee puts me off iWeb.

My concern is that I swore I would never go back to Halifax having experienced years of incompetence with them as a mortgage and credit card provider - ending with me taking them to the FOS twice.

Are there better options that I've not considered?

Are Halifax Sharedealing any good? Or should I expect them to be just as bad as the rest of the Halifax brand, and so while cheap are worth avoiding.

Thanks,

IronWolf

I use Halifax and don't have many complaints. I only do a few transactions and nothing complicated though. One thing I dont like though is that they charge for placing limit orders, but otherwise the charges are reasonable.

EdGasket

I found Halifax Sharedealing platform was often down at times of market volatility i.e. exactly when you want to use it. Then you find the phones are jammed too so you are basically locked out. Looking at what you plan to do, that probably isn't going to be a problem for you as I guess you aren't a real-time share trader.

If you could find one or more exchange-traded funds (ETF) that meets your needs then you can hold these on many platforms for free e.g. x-o though there is a dealing charge of £5.95 and a small buy/sell spread on the ETF pricing. Vanguard and HSBC do some good, low-cost (low ongoing fund charges) ETFs.

mgarl10024

Thank you for your feedback. I'll give Halifax a try (might live to regret those words!).

EdGasket - I'm still pretty new to investing, so whilst I am tempted by ETFs, they do scare me a little. I don't think that the LifeStrategy fund is available as an ETF either - but I could mix and match the other Vanguard funds to make up the same distribution (but would have to bear the increased trading fees which would be significant).
I guess I am also a little unsure about the idea that the ETF prices can trade at a premium or a discount, different to the underlying asset values - just seems like an extra layer of risk for the timid!
I'll keep reading, and you never know - 2016's ISA allowance may be put directly into ETFs. But not 2015s!

Thanks again,