Interactive investor price hike

Jaynishriya

simonfitba wrote: »

Myself and my wife each have an ISA will iii. It's family linked so we only paid £80 for both accounts. I take it they are doing away with this and we'll each have to pay £90 per year?

Wonder if that is grounds for a free transfer out, as my wife only moved to them because of this family deal.

I am also affected by this change in their pricing so I emailed them to clarify, and I got this reply:

'Given that the change in price materially affects the linked accounts that have benefited from the family link terms, we are offering to waive the transfer out fees for these accounts. Please be aware that this offer will only be available until 10 December 2017. It should also be highlighted that this offer does not extend to the 'parent' account to which the quarterly fee has historically applied and does not apply to the withdrawal of holdings as share certificates.'

Which means that your wife will be able to transfer out free before they implement the new charges but not you

Galileo_Figaro

I had another email from Telegraph Investor, this one says "As we’d like you to stay with us and have plenty of time to try out your improved service, there will be no transfer-out fees charged if you choose to leave us before the end of September 2018." I have an ISA.

That's good news. I assume this is effective from December 11th when they migrate TI accounts. So now I need to find a new platform with low fees for small investors. Any suggestions would be very welcome.

EdGasketTheSecond

Galileo_Figaro wrote: »

Any suggestions would be very welcome.

x-o (Jarvis) and iWeb

[Deleted User]

I'm just in the process of selling up my small investments and shutting down the account, I was with TD Direct and I certainly don't want to be paying a fee once a quarter as it doesn't fit in with what I require.

I'd just read the email this weekend so get it sorted now before the fees kick in, in December

alk29

Hi there

Now the linked account option is going from II we're trying to figure out if there's a better option for as going from £80 to £180/ year for our ISA's is a bit of a price hike.

Situation 2x ISA's each with over 75k
Mix of ETF's and UK (including AIM), USA and EU shares (ideally would like to keep the range of shares)
Low number of trades (max 1-2 / quarter)
Currently with dividend reinvestment (preferred but not essential)

I had a look at the options suggested in post #3 and think iWeb might be the most suitable but any comments / alternative suggestions would be welcome

Alexland

Yes with a low number of trades then iWeb should be good for you both but £180 on £150k is still only a 0.12% platform cost so quite competitive so it might not be worth the cost and effort of moving and who knows when iWeb will need to pass through some inflation fee rises?

YorkBluenose

Hi

I'm following this thread with interest. I'm a relatively long-time II customer, holding a SIPP (728k) and ISA (86k), for which I pay as single annual charge of £144, inc VAT.

As per others on this discussion, I put the question to II as to what my new charges will be. Despite their statement:

"Quarterly payment £22.50 per customer*
* Please note, joint accounts are treated as a separate customer and sole name accounts that are not linked will also be charged separately. If you have multiple linked accounts, which you access with one username or account number, you’ll make a single flat quarterly payment covering all those accounts and you can use your trading credits in any of them.".


they have advised me that I will be charged £210 inc. VAT pa, comprising a revised £120 pa for my SIPP and 4 x £22.50 for my ISA. The above statement is clearly misleading, for all my accounts are accessed via a single username.

I also use HL for another ISA (stocks and ETF, no unit trusts) through which I trade ~5 times a month. The HL platform is by far the best I've experienced for trading. However, their ad-valorem charging for unit trusts is not competitive, hence my segregation between HL and II.

The recent II comms mention a "new" trading platform which hopefully will be an improvement on their current no-thrills offering. This will be a determinant for me, if it proves satisfactory for trading equities then I shall transfer my HL HSA to II to benefit from flat charging and the II trading credit, through which I will recoup all/most of £22.50 quarterly charge. However, If the new platform is little better than their current offering then I'll take a deep breath and start research into alternative SIPP / ISA providers on the premise that an increase from £144 to £210 for a long-term customer with little gain is very unpalatable to me....although not keen at on the hassle of transferring away.

Guess I'll see the new platform from 11 Dec and take things from there.

cheers.

Jaynishriya

YorkBluenose wrote: »

Hi

they have advised me that I will be charged £210 inc. VAT pa, comprising a revised £120 pa for my SIPP and 4 x £22.50 for my ISA. The above statement is clearly misleading, for all my accounts are accessed via a single username.

You will be able to use the quarterly £22.50 of trading credits against your ISA, SIPP or trading account - and used credits will be rolled over and accrued to a limit of £90.