Santander Investment Hub

David_Drummond

Hello everyone

This new service was recently launched by SANTANDER (I am a 123 customer) and I just wondered what folks here think of it and whether you regard it as a good place to put and manage one's investment portfolio? It's basically a kind of 'one stop shop' for everything including ISAs.

bigadaj

Not so sure it's new, think it launched the middle of last year.

It seems to be a fairly average investment platform, run by a large bank so at first glance not encouraging, with middling fees.

There's certainly cheaper out there, depending on the size of your investment, and preferences vary in service levels and website design.

David_Drummond

Thanks for that. Santander are trying to present it as brand new. I missed its launch last year, hence my surprise. I shall await Martin Lewis pronouncements in April - I am sure he will do a market round up of what's available. My potential investment is £10k I think. Cheers!

bigadaj

David_Drummond wrote: »

Thanks for that. Santander are trying to present it as brand new. I missed its launch last year, hence my surprise. I shall await Martin Lewis pronouncements in April - I am sure he will do a market round up of what's available. My potential investment is £10k I think. Cheers!

Martin and the site tend to shy away from investments, it's a regulated area and will vary on the indivdual so can understand their reticence to some extent.

There's a link to snowmans spreadsheet on a thread and that's as good a tool as any on cost, the cheaper platforms tend to be a bit bare bones. Doesn't bother me but having a bit of hand holding may be helpful to the inexperienced.

Assuming this is an isa investment, though there's little difference in most cases with standard accounts, then the transition in costs between percentage and fixed fee providers tends to start at £30-£40k assuming minimal trading, below that percentage are better.

I have one account with Charles Stanley direct and they are good and as cheap as anyone at your sort of figures. Hargreaves lansdown has a good website and apparently good customer support, I don't use them, but are marginally more expensive, at your initial levels that's only about twenty quid a year though.

dunstonh

It isnt new. However, it appeared quietly.

I shall await Martin Lewis pronouncements in April I am sure he will do a market round up of what's available.

He has never done that before. No reason to think he would do it now. The site generally has a poor record on investments. Although, to their credit they seem to have realised that and mostly avoid it.

Bank offerings tend to be poor quality and basic. Their investment funds have a history of underperforming and charging higher than elsewhere. The reason the banks have moved into a form of robo-advice is that they can still earn from people but with lower consumer protection offered as it will be you picking the investments.

Sean473

I've used the Investment Hub and have not been too happy with it.. Lot's of technical issues initially with debit card payments, direct debits which are set up taking too long to go through and worst of all not being able to see investment performance (if you have > 20 funds, the thing breaks) properly...

I'm moving to TD Direct. if your investing >5000, TD offer similar fees, wider fund range and ability to trade shares..

beardiedog

My investments were moved over automatically to the Investment Hub last year.

I'm not overly impressed with it TBH.

Just had my statement and the platform service fees are a little steep. I think I'll probably be moving them shortly.

DavidT67

A percentage-based platform fee on top of the associated managed fund initial charge and annual management charges doesn't seem an attractive proposition.

Site is very opaque on range of funds available and associated costs.

Generally I'd stay clear of the banks for investment services, much better value available elsewhere.

And definitely don't touch the structured products !

David_Drummond

ThanKs everyone for the GREAT advice!!!!!

JGUK

Sorry to drag up an old thread, might open an account do they credit check you for access to the hub or not, done two hits already in the past 60 days so don't want another.

Thanks !

Alexland

JGUK wrote: »

Sorry to drag up an old thread, might open an account do they credit check you for access to the hub or not, done two hits already in the past 60 days so don't want another.

No idea but why would you open an account after the above feedback? High street banks generally offer very poor retail investment products? Have you considered Vanguard Investor?

Alex