Cheapest platform for my investments

neilsolaris

Hi,

I've currently got my SIPP and Stocks and Shares ISA with Hargreaves Lansdowne, but I seem to be paying a lot on commission. I haven't done any transactions with them for a while, so I'm not sure why I'm paying so much. Therefore, does anyone have any advice about the cheapest platform for me please, or how I can go about researching it?

Here are some more details, in case this helps. Basically, I'm following the passive investing strategy. For both the S&S ISA and the SIPP, I've got roughly 20% in the UK tracker index, 50% in world tracker, 10% in global emerging markets, and 20% in Vanguard UK inflation linked gilt. Total amount in Stocks and Shares ISA is about £44,000, and total amount in SIPP is about £10,000.

Many thanks for your help.

colsten

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

http://www.comparefundplatforms.com/

neilsolaris

Thanks very much, I'll check those links.

JohnRo

The way you plan to invest determines which platform is cheapest and it's worth taking a little time to consider the various permutations. It's surprising how quickly it becomes fairly complex when considering all the various investment options.

Try plugging your numbers in to this spreadsheet by Snowman.

http://forums.moneysavingexpert.com/showpost.php?p=64540489&postcount=15

dunstonh

Platforms are a value added service. So, it shouldn't be on price alone. You should look at the features and options offered.

For example, does the platform pre-fund switches and purchases (a frequent buyer/reg contribution could value that as it is worth a few basis points a year). Do they allow withdrawals without a wet signature etc.

green_man

I've been with the Halifax for a good few years and it is good value if you are not an active regular trader. The yearly admin charges are low but the transaction charges are higher (especially for funds). So worth considering for infrequent traders.

neilsolaris

Thanks again. I've forgotten now, as it's been a while since I started investing, but are my investments all Exchange Traded Funds? They all all index trackers, plus the inflation linked gilt. I'm trying to work out which category they are, so I can see what the relevant charges are.

Thanks.

BLB53

For S&S ISA I think you would be better off with Halifax who charge just £12.50 p.a. compared to £45 with HL (assuming ETFs).

This recent article on DIY Investor may help to clarify things

http://diyinvestoruk.blogspot.co.uk/2016/05/selecting-your-diy-online-broker.html

dunstonh

neilsolaris wrote: »

Thanks again. I've forgotten now, as it's been a while since I started investing, but are my investments all Exchange Traded Funds? They all all index trackers, plus the inflation linked gilt. I'm trying to work out which category they are, so I can see what the relevant charges are.

Thanks.

Index trackers can be OEICs/UT or ETFs. You havent mentioned what you have other then index tracker. So, we dont have enough to go on.

neilsolaris

Thanks, I think you're right there. I just spoke on the phone to a guy at Hargreaves Lansdowne, and because mine is a fund, but not an ETF, it's charged at 0.45% per year, but without any cap. Therefore, I'm currently paying £241.99 per year on my current investment. That seems like a lot, doesn't it, for a total fund of £53,766.50?

If I choose to leave them, they told me that the exit fee is £30 per line, and as I have 8 lines that equates to £240. Again that seem very excessive to me.

neilsolaris

dunstonh wrote: »

Index trackers can be OEICs/UT or ETFs. You havent mentioned what you have other then index tracker. So, we dont have enough to go on.

I don't have anything else with Hargreaves Lansdowne other than the index trackers. I have one share in x-o, but is that relevant?