II vs Hargreaves Lansdown

shinytop

I have SIPPs in both although the II one is empty for now. The HL interface is much better. But it's not 0.45% of my eventual SIPP better. So far II is fine, not fantastic, but OK. For my needs - a relatively large sum in mainstream funds but relatively little activity - II seemed to suit me best. I will keep a small amount in HH for the time being though because they do have some discounted funds I might use.

ddc79

Thank you to everyone for your responses. This community is great!

I’m planning on building my portfolio to 3 figures so the lower fees are attractive.

I hold 5 line items in HL - a mixture of individual shares and funds so selling these would incur costs in addition to closing the account.

I’m going to leave HL as is for the next year and hope they change their exit fee terms. I’ll also open up an II account to invest this years ISA allowance.

This year I’m thinking of buying the global market in the form of an index tracker. However my plan may change to include other funds too.

Thanks again to all if you for your responses - it’s appreciated!

aroominyork

shinytop wrote: »

I will keep a small amount in HH for the time being though because they do have some discounted funds I might use.

HL's funds would need to be discounted by more than 0.45% to make it worth holding them there rather than at II. Only a couple are (emerging markets and Latin America) and the discount is 0.55% at most - is it worth splitting your fund between platforms to save 0.10%? And what happens if you want to rebalance or sell those funds so that your HL holdings then cost you 0.45% pa to hold, when they would cost nothing extra at II?

shinytop

aroominyork wrote: »

HL's funds would need to be discounted by more than 0.45% to make it worth holding them there rather than at II. Only a couple are (emerging markets and Latin America) and the discount is 0.55% at most - is it worth splitting your fund between platforms to save 0.10%? And what happens if you want to rebalance or sell those funds so that your HL holdings then cost you 0.45% pa to hold, when they would cost nothing extra at II?

It's not just the platform fee. With the HL discount, I'm losing about £40 pa compared with II. However the HL SIPP is in drawdown (included in fees) and the II one isn't (£100 plus VAT). Apart from anything else, I'm also interested as a consumer to see how the two compare. I may re-assess when both are in drawdown.