Next best platform for non-ISA Funds holding, to iWeb

RomfordNavy

I say next best because this is for some investments which will be in my name but on behalf of someone else so I want to keep it all complately seperate to my iWeb accounts.

Would I be correct in thinking that AJ Bell might be the next best of the cheaper platforms for non-ISA buy and hold funds?

londoninvestor

Halifax? No annual fee (neither flat nor percentage) for the unwrapped account. You can use £2 regular investments to buy your buy-and-hold portfolio.

Sells are pricey at £12.50, but not an issue if you just buy and hold.

(You should think about rebalancing strategy, but that's a different question from the one you asked...)

masonic

It depends on how much you plan to hold and how frequently you plan to buy and sell. AJ Bell can work out quite expensive if you place orders regularly but have a small holding.

I mention frequency of trading as it came to mind following your other thread where you consider selling a fund that's risen in value with the intention of buying back at a lower price in a few months.

RomfordNavy

londoninvestor wrote: »

Halifax? No annual fee (neither flat nor percentage) for the unwrapped account. You can use £2 regular investments to buy your buy-and-hold portfolio.

Sells are pricey at £12.50, but not an issue if you just buy and hold.

(You should think about rebalancing strategy, but that's a different question from the one you asked...)

Halifax is a good candidate as no yearly platform fee. Trading commission of £12.50 is a lot higher that iWeb but I can't see any better alternatives at the moment.

I wonder if iWeb allow a second account to be operated under the same name? I will message them.
Edit: no they won't allow a second account in the same name.

Value is expected to be about £80k held in funds, plain account not ISA.

JohnRo

X-O are a decent option, just be prepared to leave something invested there forever and never close the account, then you avoid their closure fee.

Without looking into it I think they only offer access to investments traded via an exchange though.

Alexland

Yes Jarvis X-O don't offer funds.

franklytom

This may help:
monevator.***/compare-uk-cheapest-online-brokers/

I cannot post the link as new users cannot post links but replace the *** with com

pafpcg

I've been happily using SVS (svsxo.com) for nearly eight years now - no standing charges, just £7.95 buying & selling commission per trade. Only problem I've encountered is that there's no mechanism for automatically distributing any incoming dividends (unless I've missed a recent announcement), so any dividend income has to be withdrawn manually. Another feature of SVS is that they'll set-up accounts in joint names which IWEB won't allow.

Otherwise, as suggested above, look at JarvisX-O. (Accounts in joint names are allowed but the account setup has to be done by post.)

franklytom

RomfordNavy

Also Halifax Share Dealing Limited includes Bank of Scotland Share Dealing, IWeb Share Dealing, and Lloyds Bank Direct Investments on the FCA register, so your iWeb investments may already be under Halifax in terms of FCA protection and compensation limits (maybe someone can confirm this as I am not certain but I think this is the implication?). This may not be a consideration for you, but best to know.

RomfordNavy

franklytom wrote: »

This may help:
monevator.***/compare-uk-cheapest-online-brokers/

I cannot post the link as new users cannot post links but replace the *** with com

Yep, seen that but just checking that there isn't something else out there which is not included on that.

RomfordNavy

franklytom wrote: »

RomfordNavy

Also Halifax Share Dealing Limited includes Bank of Scotland Share Dealing, IWeb Share Dealing, and Lloyds Bank Direct Investments on the FCA register, so your iWeb investments may already be under Halifax in terms of FCA protection and compensation limits (maybe someone can confirm this as I am not certain but I think this is the implication?). This may not be a consideration for you, but best to know.

Yes, that is something I had thought about and does concern me a bit.