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HL stocks and shares isa - investment advice

135

Comments

  • jimjames
    jimjames Posts: 19,279 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    adonis10 wrote: »
    Fair enough. To be fair it looks better than Virgin and is less than half the cost so I'm going in the right direction.

    Can you change providers more than once in a year?
    You can change providers as often as you want - but too frequently might be prohibitive cost wise.


    HL is a very good, user friendly platform and as you've found still way cheaper than Virgin.
    Remember the saying: if it looks too good to be true it almost certainly is.
  • weenie15
    weenie15 Posts: 61 Forumite
    Seventh Anniversary Combo Breaker
    As your portfolio grows, as others have said, HL's 0.45% fee will start to be a little on the expensive side.

    However, if you invest in shares, investment trusts or ETFs, the fee is capped at £45 for the year.
  • Doshwaster
    Doshwaster Posts: 6,407 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    adonis10 wrote: »
    Did you ever see an itemisation of the management charges? In the 5 years I had it, it never once showed up on the online history or paper statements..

    I just had a look in my account and there is a breakdown of the monthly management charge (0.45% of the value of the funds). The ongoing charges for individual funds are harder to track as the fees are just reflected in the price of the unit.

    At present I'm paying around £9 a month on a S&S ISA worth around £25,000.
  • badger09
    badger09 Posts: 11,828 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    adonis10 wrote: »
    Did you ever see an itemisation of the management charges? In the 5 years I had it, it never once showed up on the online history or paper statements..
    Doshwaster wrote: »
    I just had a look in my account and there is a breakdown of the monthly management charge (0.45% of the value of the funds). The ongoing charges for individual funds are harder to track as the fees are just reflected in the price of the unit.

    At present I'm paying around £9 a month on a S&S ISA worth around £25,000.

    I think adonis10 was asking if you ever saw itemised management charges in the Virgin S&S ISA (not Hargreaves Lansdown):cool:
  • jimjames
    jimjames Posts: 19,279 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    badger09 wrote: »
    I think adonis10 was asking if you ever saw itemised management charges in the Virgin S&S ISA (not Hargreaves Lansdown):cool:
    I'm guessing as the Virgin product is sold directly that they have a single annual management fee and have no requirement to itemise out platform costs separately so you'd never know what you were paying - another reason they're able to get away with such a high fee.
    Remember the saying: if it looks too good to be true it almost certainly is.
  • dunstonh
    dunstonh Posts: 121,383 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Virgin funds were bundled pricing. Not unbundled.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • jimjames
    jimjames Posts: 19,279 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    dunstonh wrote: »
    Virgin funds were bundled pricing. Not unbundled.

    Are they able to remain bundled if they are selling direct with no platform?
    Remember the saying: if it looks too good to be true it almost certainly is.
  • joujou
    joujou Posts: 143 Forumite
    weenie15 wrote: »
    As your portfolio grows, as others have said, HL's 0.45% fee will start to be a little on the expensive side.

    However, if you invest in shares, investment trusts or ETFs, the fee is capped at £45 for the year.

    It is capped at 45 for shares. What do you do that hl becomes expensive for you? Thanks
  • AndyT678
    AndyT678 Posts: 757 Forumite
    Part of the Furniture Combo Breaker
    joujou wrote: »
    It is capped at 45 for shares. What do you do that hl becomes expensive for you? Thanks

    OEICs presumably. Like very many others, myself included.
  • jimjames
    jimjames Posts: 19,279 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    joujou wrote: »
    It is capped at 45 for shares. What do you do that hl becomes expensive for you? Thanks

    HL would cost me about £800 per year. Iweb would be one off £200 fee.
    Remember the saying: if it looks too good to be true it almost certainly is.
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