hargreaves and landsdown exit fee

jimjames

le_loup wrote: »

............ and they are brilliant, but far from cheap.

I have to agree with this, even as someone who moved the majority of my funds away from HL. Their website is extremely well designed and easy to use especially for an inexperienced investor.

Having said that, I didnt consider it worth paying the additional costs for keeping my portfolio with them.

Plus

The HL website is nice, but for information there's not much there that Morningstar, Citywire and Trustnet won't tell you for free. The portfolio X-ray thing is the only one I can think of, and I think you can get something similar with a free Trustnet account.

le_loup

Plus wrote: »

The HL website is nice, but for information there's not much there that Morningstar, Citywire and Trustnet won't tell you for free.

....... and, of course, there's no charge to use H-L's site even if you're not a customer.

w00519772

colsten wrote: »

Halifax!! Halifax Sharedealing, to be precise. They do all the investments HL do, apart from the HL-own funds, obviously.

Whoever told you that was badly misinformed, see above.

HL have a good website but they are generally a lot more expensive for the same investments than other platforms are.

If you are interested in the best platform deals, you can try these:
http://www.comparefundplatforms.com/
http://monevator.com/compare-uk-cheapest-online-brokers/

I was under the false impression that with a Halifax account you could only invest in Halifax funds. Say I was interested in this fund: https://www.halifaxfundscentre.co.uk/index.php?section=sheet&idShareclass=F00000MLUQ

I assume that the cost would be 0.24 (AMC)+1 (Halifax charge) = 1.24%. Is that correct? Clearly this is more expensive than Hargreaves and Landsdown.

colsten

w00519772 wrote: »

I assume that the cost would be 0.24 (AMC)+1 (Halifax charge) = 1.24%. Is that correct?

where do you get the 1% for Halifax from?

w00519772 wrote: »

Clearly this is more expensive than Hargreaves and Landsdown.

Is it? Can you explain by way of their respective charges?

Halifax charges: http://www.halifax.co.uk/sharedealing/charges/

HL charges: are on various pages. ISA charges: http://www.hl.co.uk/investment-services/isa/savings-interest-rates-and-charges

green_man

As far as I can tell there are lots of funds not available on the Halifax platform that are available on HL and others. E.g. They dont seem to have any Newton funds available accept the institutional class, in fact there have been a large number of funds I don't seem to be able to buy from the Halifax platform

colsten

green_man wrote: »

As far as I can tell there are lots of funds not available on the Halifax platform that are available on HL and others. E.g. They dont seem to have any Newton funds available accept the institutional class, in fact there have been a large number of funds I don't seem to be able to buy from the Halifax platform

Which ones can you not buy at Halifax? It may just be slightly disjointed web page design but the only ones I can think of that you can't buy at HSD are HL's own funds.

https://www.halifaxfundscentre.co.uk/

w00519772

Are you saying that the charge would be just 0.24% for the fund in my Las comment? That would be cheaper than HL.

colsten

No, I am not saying that your total charge would be 0.24%. Both HL and HSD have platform fees which are on top of the fund charges. HL are one of the most expensive platforms in most scenarios.

george4064

I am currently with HL, I've been looking for ages to move to a cheaper provider but I have always found other providers not able to provide the service that HL can offer. Mainly the key issue is other providers only offer dividend re-investment (or in AJ Bell's case, regular investment) to FTSE 350 stocks. (I have a few income generating AIM/specialist ITs that aren't in FTSE 350)

I have emailed Halifax to check this, and if its good news I will transfer over. Their website looks decent, and ofcourse their flat fees are nice.

I've had a look at funds on HL vs funds on Halifax, they are very similar but with a few differences;

- for CF Woodford Equity Income fund, HL have a special cheaper share class (however, its actually overall cheaper at Halifax taking into account Hargreaves % admin charge on ISA funds.)
- a few recently launched funds are not (yet?) on Halifax, for example the TM Sanditon UK Fund was launched in June 2015, its on HL but not Halifax.


I was thinking of transferring in either two ways (currently my portfolio consists of 10 shares and 1 fund);

- Sell all my holdings, and put the money into a global ETF. Transfer the ETF and buy back my holdings. (This will cost £119.50 to sell them, £11.95 to buy the ETF, £50 to transfer the ETF and cash to Halifax. Sell ETF for £12.50, then buy back all 11 holdings for £137.50) Total cost: £331.50

- just leave my holdings as they are, and transfer them as stock. (11 x £25, + £25 + £25), total: £325

I only pay £45 per annum (fixed ceiling cost for stocks and ETFs), plus ~£23.60 per annum for my 1 fund holding). Total £68.60 per annum. [Halifax costing £12.50 per annum, will save me £56.12 per annum].

I only plan to buy more shares/ITs in the future, I do prefer them but I am biased towards them because of the fixed charges at HL. I do sometimes wonder whether I should bother to transfer, such high costs and I'm not paying 'that much' at HL considering I'm 90% in fixed annual cost of £45 per annum...

Anyone got a better suggestions for me to transfer? Or thoughts in general?

(Sorry, I don't mean to hijack this thread. I will make a new separate thread if necessary)