Best platform?

ValiantSon

Glen_Clark wrote: »

Good place to start is the best buy page of this website: https://www.moneysavingexpert.com/savings/cheap-online-sharedealing?_ga=2.14774326.1017526747.1498207934-1345294851.1496851258

I'm not a fan of the guide on this site at all. It makes various assumptions and gives a poor explanation that places choosing a platform above identifying funds etc. in which to invest.

Devenish

This is all very helpful, thanks. I'm learning that for the amount we have to invest a Fixed Fee Broker makes sense - such as Halifax Share Dealing, iWeb, etc. Also, it's best to choose your fund first and then find the best platform.

Lungboy

dunstonh wrote: »

Remember that the AMC is obsolete. No-one goes by AMC any more. It is just there for legacy reasons. OCF is the measure.

Unfortunately Cavendish only include the AMC and TER in their list of available funds, not the OCF.

So, you are looking at a fund supermarket (rather than wrap platform)

Could you explain the difference please?

Alexland

Devenish wrote: »

This is all very helpful, thanks. I'm learning that for the amount we have to invest a Fixed Fee Broker makes sense - such as Halifax Share Dealing, iWeb, etc. Also, it's best to choose your fund first and then find the best platform.

iWeb would beat Halifax SD as you will get the same service from Lloyds Banking "Insurance and Wealth division" without having to worry about when the tiddly account fee is due. Just check the fund you want is available as HSD/iWeb have limited choice.

I know this thread is about platforms but the choice of fund is much more important.

Glen_Clark

ValiantSon wrote: »

I'm not a fan of the guide on this site at all. It makes various assumptions and gives a poor explanation that places choosing a platform above identifying funds etc. in which to invest.

Perhaps because it doesn't rate retail funds as a 'Best Buy' when ETFs and Investment Trusts have lower charges?

ValiantSon

Glen_Clark wrote: »

Perhaps because it doesn't rate retail funds as a 'Best Buy' when ETFs and Investment Trusts have lower charges?

There are lots of problems with it: too many to list. Generally the problems stem from trying to treat investing as being analogous to saving. The greater complexity of investments don't lend themselves to best buy lists as there are too many variables.

Glen_Clark

ValiantSon wrote: »

There are lots of problems with it: too many to list. Generally the problems stem from trying to treat investing as being analogous to saving. The greater complexity of investments don't lend themselves to best buy lists as there are too many variables.

Best Buy lists may have done small investors a great deal of good by creating competition to bring down charges?
They may not always show the whole picture but whats the alternative?

ValiantSon

Glen_Clark wrote: »

Best Buy lists may have done small investors a great deal of good by creating competition to bring down charges?
They may not always show the whole picture but whats the alternative?

The alternative would be to present an article that explained how investing works (and actually getting things in the right order, i.e. identify investments and then find best platform for that). They could then provide a broker comparison table, like the one on Monevator. My problem with the MSE approach is that they are trying to make it too simple, and while the intention is laudable, the result is a mess that makes lots of assumptions and potentially steers people in a direction that is not in their best interests.

Alexland

ValiantSon wrote: »

The alternative would be to present an article that explained how investing works (and actually getting things in the right order, i.e. identify investments and then find best platform for that). They could then provide a broker comparison table, like the one on Monevator. My problem with the MSE approach is that they are trying to make it too simple, and while the intention is laudable, the result is a mess that makes lots of assumptions and potentially steers people in a direction that is not in their best interests.

On the plus side at least we are allowed to be critical of MSE on the forums. I was rude about the excessive padding in the regular MSE email in an earlier response today. I wonder if anyone with editorial input reads the forums.

Alex.

ValiantSon

Alexland wrote: »

On the plus side at least we are allowed to be critical of MSE on the forums. I was rude about the excessive padding in the regular MSE email in an earlier response today. I wonder if anyone with editorial input reads the forums.

Alex.

Yes, I'd wondered the same thing when I have previously criticised the site and its content.