Platform advice and ISA transfer?

lionel_hutz

Am looking at platforms to invest 15K into one fund and also regular monthly payments of £500 into another fund( I’ve sought advice in another thread on here so I’m happy with my choices - one is HSBC fund and one a vanguard fund).
I can’t work out which platform is the cheapest to use though. I only really need it to buy the funds with and I know I won’t be doing much/if any buying and selling other than the monthly payments.
Interactive Investor seems more appealing than iWeb but with the quarterly charges I’m thinking I wouldn’t get any benefit from as I’m not planning to trade much, or am I missing something here?

Albermarle

Platforms with a % charge rather than a flat fee , work out cheaper for smaller pots ( < £50K usually), although possible does not apply to I web as they are cheap and basic.
A J Bell at 0.25% is a possibility ?

lionel_hutz

I had a second question too, I have the 15K currently in an old cash ISA. Can I transfer it into a stocks ISA for the HSBC fund I mentioned without using any of this years ISA allowance?

ColdIron

At this level how often you trade will determine who is most appropriate. With monthly contributions you want a percentage fee provider that doesn't charge for transactions. If you could save contributions up and purchase annually a different set of providers become viable

Platform costs
http://monevator.com/compare-uk-cheapest-online-brokers/

Plug your numbers into these and try some 'what ifs'
http://www.comparefundplatforms.com/
https://forums.moneysavingexpert.com/discussion/5583030

Make sure that your provider actually carries the funds you want. If you could find a Vanguard fund matching the HSBC one then Vanguard Investor is probably the cheapest option

bowlhead99

lionel_hutz wrote: »

I had a second question too, I have the 15K currently in an old cash ISA. Can I transfer it into a stocks ISA for the HSBC fund I mentioned without using any of this years ISA allowance?

Yes, it's not a new subscription if it's old money that's already in an ISA wrapper and is going to be transferred through the new ISA managers transfer process.

wjr4

You can transfer your cash ISA to a stocks & shares isa. Don’t withdraw the money and then put it back in.

DuFF

Vanguard themselves offer probably the cheapest platform for funds (very low annual fee, no buying or exit fees).
The catch is they only offer Vanguard funds, so you would have switch your HSBC fund for another similar Vanguard.

You can use a comparison tool to check what platform is cheapest for your needs.
Search the forum for "Coolly Comparing Investment Platform charges"