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iWeb v Halifax Platforms

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  • Over62
    Over62 Posts: 142 Forumite
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    According to Google, Hygiene Supplies Direct!!

    :rotfl:
  • bigadaj
    bigadaj Posts: 11,531 Forumite
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    jimjames wrote: »
    iWeb certainly is but then it's saving me £500 plus per year and I signed up when it was £25 per account!

    I've transferred to a sipp with iWeb as this avoids the account opening fee.

    I also have an isa and unwrapped account with Halifax share dealing (HSD).

    Very basic but all good for now, will be interesting to see if and when charges increase.
  • oldfella
    oldfella Posts: 1,534 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    jdw2000 wrote: »
    What's HSD?

    Halifax Share Dealing
  • jdw2000
    jdw2000 Posts: 418 Forumite
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    bigadaj wrote: »
    I've transferred to a sipp with iWeb as this avoids the account opening fee.

    I also have an isa and unwrapped account with Halifax share dealing (HSD).

    Very basic but all good for now, will be interesting to see if and when charges increase.

    Any reason to think Halifax and/or iWeb will increase charges? I will be switching to one or the other shortly. Probably Halifax.
  • ColdIron
    ColdIron Posts: 9,818 Forumite
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    Does anyone have any experience of Halifax or iWeb for a £400K pension in drawdown? Promptness of payments, tax certificates etc
  • MonroeM
    MonroeM Posts: 174 Forumite
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    ColdIron wrote: »
    Does anyone have any experience of Halifax or iWeb for a £400K pension in drawdown? Promptness of payments, tax certificates etc

    I think Fidelity are the best for drawdown and SIPP especially on investments over 200K? Is this correct?
  • bowlhead99
    bowlhead99 Posts: 12,295 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Post of the Month
    MonroeM wrote: »
    ColdIron wrote: »
    Does anyone have any experience of Halifax or iWeb for a £400K pension in drawdown? Promptness of payments, tax certificates etc
    I think Fidelity are the best for drawdown and SIPP especially on investments over 200K? Is this correct?
    It probably wouldn't be the best if cost was a consideration and you were using funds rather than investment trusts or ETPs, as you'd be paying over £500 a year for the service fee, instead of somewhat less than that at Halifax or IWeb.

    However a friend is using Fidelity and doesn't seem to have any grumbles on the promptness of payments side of things... I don't know that makes them 'the best for drawdown and SIPP', though, just that it works OK.
  • bigadaj
    bigadaj Posts: 11,531 Forumite
    Ninth Anniversary 10,000 Posts Name Dropper
    jdw2000 wrote: »
    Any reason to think Halifax and/or iWeb will increase charges? I will be switching to one or the other shortly. Probably Halifax.

    The market is still fluid, and providers are still changing their offerings.

    Nothing certain either way but they are pretty cheap for larger portfolios in funds with fewer transactions so they may amend their offering at some time, when and what the new charges might be we don't know.
  • Rollinghome
    Rollinghome Posts: 2,729 Forumite
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    edited 8 January 2017 at 6:56PM
    jdw2000 wrote: »
    Any reason to think Halifax and/or iWeb will increase charges? I will be switching to one or the other shortly. Probably Halifax.
    When there are fixed fees it's inevitable, assuming normal inflation, that fees must increase at some point, no matter how far in the future that may happen.

    That said, if they were to increase fees ahead of inflation there would be a heck of a commotion and shouts of unfairness, not least from those who have paid the £200 IWeb account opening fee. That's not something I'd expect any business, especially a bank, to want. (Like jj, I opened my IWeb accounts when the fee was £25.)

    It goes without saying that there's no "best account" that works for everyone. It depends on so many factors. The best tool for comparing costs is probably still the excellent spreadsheet by Snowman: http://forums.moneysavingexpert.com/showpost.php?p=64540489&postcount=15 . You may need to make further adjustments for some additional costs or rebates that some platforms have and others don't.

    You won't know exactly how well a platform suits you until you open an account and try it for a while. There's always the option of using more than one platform to get the best value or facilities of each.

    Edit: Link there seems to be out of date, spreadsheed is here...
  • hoc
    hoc Posts: 586 Forumite
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    bigadaj wrote: »
    I've transferred to a sipp with iWeb as this avoids the account opening fee.

    I also have an isa and unwrapped account with Halifax share dealing (HSD).

    Very basic but all good for now, will be interesting to see if and when charges increase.

    There is no account opening charge on iweb's SIPP only S&S ISA and the account opening fee can not be avoided by transferring in.
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