Best regular investment platform

spinnin

Hi,

So having carried out some research, 'dollar cost averaging' sounds like something that should be incorporated into my (fledgling) investment strategy. So I'd like to invest a set amount each month in a few selected funds, automatically, i.e. as a dd from my bank account.

Can anyone tell me which the best platforms for doing this are, and the charges that are incurred? In particular, I'm curious if I'd have to pay a dealing charge each month for every further purchase, even though the amount being invested would be relatively small.

Thanks!

Chirpy_Cheep_Cheep

I'm with Halifax Share Dealing. They are superb with a great website and best of all, charge just £2 per trade for regular investments on ISAs. The annual ISA fee is £12.50 a year. So total trading costs for one year of monthly trades is £36.50. I think that's superb value for what you get on their site.

ColdIron

For small frequent amounts a platform that doesn't charge a fee for fund (not share) purchases and that has an annual percentage fee based on the amount invested will probably be your best bet. Have a look at the following fees and charging structures
http://monevator.com/compare-uk-cheapest-online-brokers/

You could plug your numbers into one of these for some 'what ifs'

http://www.comparefundplatforms.com/
https://forums.moneysavingexpert.com/discussion/5583030

george4064

AJ Bell You Invest is good for regular investments (£1.50 per trade) and it takes the cash from the S&S ISA balance (which is more flexible than some other platforms that insist on direct debit to take new money from your bank account).

Alexland

george4064 wrote: »

AJ Bell You Invest is good for regular investments (£1.50 per trade) and it takes the cash from the S&S ISA balance (which is more flexible than some other platforms that insist on direct debit to take new money from your bank account).

I would argue that AJ Bell are a bad choice for regular fund investements because you pay both a 0.25% percentage platform fee and a £1.50 per trade cost - the worst of both worlds.

For a small pot the OP would be better with a percentage based platform with no trade fee (such as Cavendish or Charles Stanley Direct at 0.25% or Vanguard Investor at 0.15% if you are happy to have limited choice)

For a larger pot then then Halifax SD at £36.50 would be a good choice. Although it might be more if the OP is buying into multiple funds.

Alex.

george4064

Alexland wrote: »

I would argue that AJ Bell are a bad choice for regular fund investements because you pay both a 0.25% percentage platform fee and a £1.50 per trade cost - the worst of both worlds.

For a small pot the OP would be better with a percentage based platform with no trade fee (such as Cavendish or Charles Stanley Direct at 0.25% or Vanguard Investor at 0.15% if you are happy to have limited choice)

For a larger pot then then Halifax SD at £36.50 would be a good choice. Although it might be more if the OP is buying into multiple funds.

Alex.

You have made two assumptions:


1. That the OP's portfolio is 'a small pot', the OP does say 'fledgling' but this is all subjective!


2. You're assuming the OP is invested in funds (as opposed to individual shares, ITs or ETFs).


Until we know the answers to both those questions, we are not in a position to properly compare platforms for the OP.

Alexland

george4064 wrote: »

You have made two assumptions:

1. That the OP's portfolio is 'a small pot', the OP does say 'fledgling' but this is all subjective!

2. You're assuming the OP is invested in funds (as opposed to individual shares, ITs or ETFs).

Until we know the answers to both those questions, we are not in a position to properly compare platforms for the OP.

My answer covers both large and small pots and the OP's post says they are investing in funds.

Alex.

spinnin

Thanks for all the responses - good food for thought there, and I'll look into those suggested. Always especially good to see some difference of opinion, as that usually has the effect of drawing out all the detail!