Coolly Comparing Investment Platform charges - SnowMan's spreadsheet

jaybeetoo

I haven’t tried it but here’s an alternative:

https://www.boringmoney.co.uk/calculator/

schiff

I have an account with Youinvest and pay £7.50 a quarter as the custody charge. Where does the £250 on the spreadsheet come from?

Alexland

schiff wrote: »

I have an account with Youinvest and pay £7.50 a quarter as the custody charge. Where does the £250 on the spreadsheet come from?

The spreadsheet is pre-populated with an example £100k of fund OEIC holdings which at 0.25% would drive a £250 custody fee. If your fees are capped at £30 pa then you are only holding ETFs, ITs and/or individual shares.

Alex

schiff

Alexland wrote: »

The spreadsheet is pre-populated with an example £100k of fund OEIC holdings which at 0.25% would drive a £250 custody fee. If your fees are capped at £30 pa then you are only holding ETFs, ITs and/or individual shares.

Alex

TY. I may be in for a shock! I only had an IT at the time of the last quarterly charge but I've added funds since! It's due in a few days.

schiff

When I first started S&S ISAs I went through an intermediary Seymour Sinclair. I have accounts through them with Fidelity and Aegon which I think means I'm paying two lots of fees - unnecessarily? SS doesn't 'advise' me about anything. Fidelity on the chart looks expensive and I was wanting to leave them anyway as I find their service poor. Aegon isn't on Snowman's list unless they are known by another name.

I'm not a very active investor and it looks as if iWeb would be the best choice for my Fidelity account and possibly the Aegon account as well!

cloud_dog

You may want to consider separating out your holdings, if you are intending to hold non-OIECs for the longer term. There are providers who do not charge a platform fee to hold non-OIECs.

Alexland

schiff wrote: »

TY. I may be in for a shock! I only had an IT at the time of the last quarterly charge but I've added funds since! It's due in a few days.

Make sure you have enough cash in the account to pay the custody charge or you might also be shocked by their £29.95 disinvestment fee.

schiff wrote: »

When I first started S&S ISAs I went through an intermediary Seymour Sinclair. I have accounts through them with Fidelity and Aegon which I think means I'm paying two lots of fees - unnecessarily?

Ask them to provide details of their charges.

schiff wrote: »

Fidelity on the chart looks expensive and I was wanting to leave them anyway as I find their service poor.

I find the Fidelity service good and they cap at £45 on ETFs, ITs and/or individual shares which is particularly good value on a SIPP which tends to be capped at a higher level than an ISA elsewhere.

schiff wrote: »

Aegon isn't on Snowman's list unless they are known by another name.

In the UK a lot of their older business was signed up under Scottish Equitable however they are generally not considered a DIY platform even if they offer some investment choices.

Alex

schiff

Alexland wrote: »

The spreadsheet is pre-populated with an example £100k of fund OEIC holdings which at 0.25% would drive a £250 custody fee. If your fees are capped at £30 pa then you are only holding ETFs, ITs and/or individual shares.

Alex

Forgive my naivety (though this is probably a good time to ask) but are all these Fund OEICs?

Artemis High Income
Jupiter Monthly Alternative Income
Merian UK Alpha
Schroder High Yield Opportunities Z
Janus Henderson Fixed Interest
HSBC FTSE All Share Index
HSBC FTSE All World Index
Fundsmith Equity Income

schiff

Alexland wrote: »

Make sure you have enough cash in the account to pay the custody charge or you might also be shocked by their £29.95 disinvestment fee.

I have thank you!

I find the Fidelity service good and they cap at £45 on ETFs, ITs and/or individual shares which is particularly good value on a SIPP which tends to be capped at a higher level than an ISA elsewhere.

I'm too old for a SIPP and don't invest in ETFs and shares.

Alex

as above ...............

Alexland

schiff wrote: »

Forgive my naivety (though this is probably a good time to ask) but are all these Fund OEICs?

https://www.youinvest.co.uk/isa/charges-and-rates

If you can find it on the YouInvest Fund Quickranker it's a fund and will cost 0.25% custody (up to £250k then a lower percentage) and £1.50 to trade.

https://www.youinvest.co.uk/research-tools/quickrank/fund

If you can find it on another Quickranker then the platform fees custody will be capped at £30 pa for a non-SIPP but the trade costs will be higher.

https://www.youinvest.co.uk/research-tools/quickrank/etf
https://www.youinvest.co.uk/research-tools/quickrank/it
https://www.youinvest.co.uk/research-tools/quickrank/shares

If you have a mix then you will pay up to the capped for the non-funds plus 0.25% for the funds.

Alex