Cheapest platform for stocks and shares ISA

jobits

I currently have a HSBC FTSE all share ISA invested with Hargreaves Lansdown.I am aware that this is one of the most expensive platforms and I need to move it for that reason.It’s currently worth just over 50K, can anyone point me in the right direction please?

AnotherJoe

The first direction would be to dump the FTSE all share fund which will be far more damaging to your investment strategy than the second order question of which platform which is cheaper

Alexland

Depends how often you contribute? How about the HSBC FTSE All World fund on iWeb (£25 setup then £5 per trade) or Halifax SD (£12.50 pa then £2 per regular trade)?

jobits

To be honest, I started it years ago and I have no idea really about the stock market! Further advice welcome!

jobits

I contribute once a month.Whats wrong with the HSBC FTSE all share tracker?

Drp8713

Sell the FTSE tracker, and buy the ISHARES III PLC CORE MSCI WORLD (ACC) (SWDA).

a. Its globally diversified not just the UK.
b. Its an ETF so your fees are capped to £45 a year or 0.09% on £50k.
c. It accumulates rather than pays dividends so no paying to reinvest.
d. If you are still contributing you can invest monthly for £1.50

jobits

Thank you for the advice, I will take a look at that. Much appreciated!

AnotherJoe

What drp said. Only investing in the U.K. = terrible strategy. Go global.

Alexland

Drp8713 wrote: »

Sell the FTSE tracker, and buy the ISHARES III PLC CORE MSCI WORLD (ACC) (SWDA).

a. Its globally diversified not just the UK.
b. Its an ETF so your fees are capped to £45 a year or 0.09% on £50k.
c. It accumulates rather than pays dividends so no paying to reinvest.
d. If you are still contributing you can invest monthly for £1.50

It would still be cheaper to hold the HSBC FTSE All World fund on Halifax Share Dealing. The fund OCF is lower, it is also an accumulator, better diversified (with emerging markets) and the platform fee would be £36.50 inc monthly trade fees. It would take about a year to payback the HL exit fees.

Even if the OP did an MSCI World ETF on HL then the Lyxor LCWL would be cheaper than SWDA and is also an accumulator. Slightly higher initial spread but pays back for the long term investor. Sadly it's not available as a HL regular investment but might be better for the initial lump sum.

Alex

Aidanmc

Drp8713 wrote: »

Sell the FTSE tracker, and buy the ISHARES III PLC CORE MSCI WORLD (ACC) (SWDA).

a. Its globally diversified not just the UK.
b. Its an ETF so your fees are capped to £45 a year or 0.09% on £50k.
c. It accumulates rather than pays dividends so no paying to reinvest.
d. If you are still contributing you can invest monthly for £1.50

Can i ask any particular reasons you recommend the Ishares ETF over any other global/all world index fund or ETF?
thanks

DrSyn

Before you start to make any changes, I suggest you take a look at the following :-

http://www.kroijer.com/

https://www.ifa.com/indexfundsthemovie/



Both of the above should be of help to you and lead you in the correct direction.