Youinvest versus Fidelity

schiff

I have S&S ISAs with Fidelity/Funds Network and CoFunds, both via Seymour Sinclair. I recently transferred an under-performing S&S ISA from elsewhere to Youinvest, and have been hugely impressed with their service and particularly the website which is informative and very detailed. Knocks the others into a cocked hat. All the investments are funds.

I'm paying £7.50 a quarter to Youinvest for seemingly everything. I'm paying about £4.20 a month on my Fidelity account, described as Service Fee and Adviser Ongoing Fees, divided about 50/50.

Can I 'save' that £50 pa by switching the ISA to Youinvest, as I assume the transferred funds would fall under the £7.50 quarterly charge?

Or am I missing something?

firestone

the Youinvest is only £30 for IT,ETF etc hence the £7.50 a quarter but .25% on OEIC's so would go up if you add funds i believe (still cheaper then Fidelity at 0.35%) but if only using ETF's etc it would be capped on Fidelity at £45 a year going direct rather then paying adviser fee as well

firestone

should also mention that on the Youinvest charges & fee page they do a calculator where you can mix the value of your holding by funds,IT & trades etc and get a price per holding ISA,SIPP & dealing account

Alz1986

AJ Bell's youinvest platform and costs are more efficient than most out there. Good move.

bowlhead99

schiff wrote: »

I recently transferred an under-performing S&S ISA from elsewhere to Youinvest, and have been hugely impressed with their service and particularly the website which is informative and very detailed. Knocks the others into a cocked hat.

Still, now you already have access to that informative website you can use a cheap no frills fixed fee service for your investing

I assume the transferred funds would fall under the £7.50 quarterly charge?

Or am I missing something?

If they are open ended 'funds' (open ended investment companies, unit trusts, ICVCs, PAIFs), they will attract the 0.25% annual fee on every pound up to £250k investment value, but if they are stock exchange traded (ETFs, investment trusts, REITs) they will not because you have already hit the cap.

Alexland

Yes I like the look & feel of the YouInvest platform but don't have any accounts there anymore. Fidelity is better value on a SIPP at £45 pa versus YouInvest at £100 pa for exchange traded assets.

Also for your ISA consider iWeb at £25 setup, £5 trade, no ongoing cost and sibling Halifax Share Dealing at £12.50 pa and £2 per scheduled trade. With these you can hold both funds and exchange traded assets under the same fee structure.

Alex

schiff

bowlhead99 wrote: »

If they are open ended 'funds' (open ended investment companies, unit trusts, ICVCs, PAIFs), they will attract the 0.25% annual fee on every pound up to £250k investment value, but if they are stock exchange traded (ETFs, investment trusts, REITs) they will not because you have already hit the cap.

Thank you. Only 3 holdings, one OEIC and two unit trusts. The annual fee would be about £27 on those which would be a modest saving. Added to which I much prefer the Youinvest platform over Fidelity's. Added to that, they cash in monthly a few random units to pay for the charges, so holdings don't stay the same. If these sales have a fee attached, an even better reason. AFAIK the facility for a cash account was withdrawn a while back.

My 'income' is withdrawn monthly from Fidelity but I prefer the system of keeping a cash cushion (as I do at Youinvest) to receive dividends and pay costs and fees.

schiff

Alexland wrote: »

Yes I like the look & feel of the YouInvest platform but don't have any accounts there anymore. Fidelity is better value on a SIPP at £45 pa versus YouInvest at £100 pa for exchange traded assets.

Also for your ISA consider iWeb at £25 setup, £5 trade, no ongoing cost and sibling Halifax Share Dealing at £12.50 pa and £2 per scheduled trade. With these you can hold both funds and exchange traded assets under the same fee structure.

Alex

Thank you. No question of a SIPP. I'm not looking to diversify any more. I did consider iWeb before starting with Youinvest. I'm able to go to their offices which was an attraction and they were helpful when I visited!

Alexland

schiff wrote: »

Added to which I much prefer the Youinvest platform over Fidelity's. Added to that, they cash in monthly a few random units to pay for the charges, so holdings don't stay the same. If these sales have a fee attached, an even better reason. AFAIK the facility for a cash account was withdrawn a while back.

If your account is setup or migrated to their new system then Fidelity can support a cash balance with fees being deducted from cash.

YouInvest are particularly punitive if you don't have enough cash with their £29.95 disinvestment fee. I am comfortable seeing my investments go up and down by thousands every day but for paying that fee as a result not poor planning would make me really annoyed!

Do iWeb share the same offices and people as HSD and do they have anything more than a receptionist setup for investor visitors?

Alex

schiff

Alexland wrote: »

If your account is setup or migrated to their new system then Fidelity can support a cash balance with fees being deducted from cash.

YouInvest are particularly punitive if you don't have enough cash with their £29.95 disinvestment fee. I am comfortable seeing my investments go up and down by thousands every day but for paying that fee as a result not poor planning would make me really annoyed!

Alex

Thank you, I'll look into that.

I have a note that Youinvest charge £29.95 for telephoned orders, but I'm not familiar with 'disinvestment fees'; in what circumstances do they arise? Is it not possible to avoid it happening?

Trentenders

I quite often have a negative cash balance in my Youinvest account when they apply the holding charge. They don't 'disinvest' immediately, but instead wait days/weeks that it sometimes takes for dividends to arrive.