Hargreaves puzzler

Malthusian

redux wrote: »

Another puzzler, or not in the quote in the OP anyway, is why so many own house investment trust savings schemes that close recently are going to HL as recommended, given that it does such feeble or nil promotion of investment trusts as a concept.

The investment trust gets to shuck off a load of admin costs. HL gets a new audience to flog the Wealth 50 and multi-manager funds to. Seems like a win-win to me.

ColdIron

EdSwippet wrote: »

I have a six figure OEIC and unit trust only portfolio with iWeb. They charge me £0 as there are no annual charges at all. They regularly and reliably pay dividends and give me an annual tax certificate. In their ISA they also charge £0.

It's an excellent deal, and completely sidesteps any need to 'play' the silly charging policy dreamed up by some HL marketing halfwit. :-)

Yes, I too have my growth portfolio (GIA/ISA) at iWeb. Mostly passive funds that would be prohibitively expensive with a percentage fee provider. It costs me forty odd quid for my annual bed and ISA. There are many ways to skin a cat

Tom99

ColdIron wrote: »

Yes, I too have my growth portfolio (GIA/ISA) at iWeb. Mostly passive funds that would be prohibitively expensive with a percentage fee provider. It costs me forty odd quid for my annual bed and ISA. There are many ways to skin a cat

Can you bed and ISA the same day with iWeb or do you have to be either out of the market for a week or fund the £20,000 yourself for a week?

talexuser

EdSwippet wrote: »

I have a six figure OEIC and unit trust only portfolio with iWeb.

Same here with a share dealing account too, multiple ITs and several tracker ETFs. Zero platform charge. I do not churn, so the £10 buy/sell does not happen often. only when underperformance becomes obvious after a period to recover/or cycle to turn. Selling Woodford in early 2018 was a relatively rare occurance.

ColdIron

Tom99 wrote: »

Can you bed and ISA the same day with iWeb or do you have to be either out of the market for a week or fund the £20,000 yourself for a week?

I think all ISA subscriptions must be in cash so necessitating a sale and repurchase. I understand that some platforms will pre-fund but I've never been with one that does. I usually pre fund myself if I can find £20k down the back of my sofa

Albermarle

The argument for IWeb is not as strong if it is a Sipp or especially a SIPP in drawdown.
A portfolio of IT's and ETF's ( buy and hold ) with Fidelity means a SIPP in drawdown can be operated for £45 a year . If you include a couple of trades + some dividend reinvestment then £100 pa max

Aminatidi

I believe I read in an interview with Mark Dampier of HL, pre-Woodford debacle, that their issue with IT's is simply that at the size of HL many IT's simply don't have the daily trading to support it.

cloud_dog

Albermarle wrote: »

The argument for IWeb is not as strong if it is a Sipp or especially a SIPP in drawdown.
A portfolio of IT's and ETF's ( buy and hold ) with Fidelity means a SIPP in drawdown can be operated for £45 a year . If you include a couple of trades + some dividend reinvestment then £100 pa max

The OH SIPP is with Fidelity, all in ITs, and with the platform charge and 4 purchases the overall charge for the year worked out as 0.17% (on a relatively small £49k pension pot).

Having said that... I'm still uncertain if the £55 savings with Fidelity over YouInvest or iWeb would not be better spent with either of these two.

jaybeetoo

Aminatidi wrote: »

I believe I read in an interview with Mark Dampier of HL, pre-Woodford debacle, that their issue with IT's is simply that at the size of HL many IT's simply don't have the daily trading to support it.

Other platforms don’t think that’s a problem.

masonic

Aminatidi wrote: »

I believe I read in an interview with Mark Dampier of HL, pre-Woodford debacle, that their issue with IT's is simply that at the size of HL many IT's simply don't have the daily trading to support it.

Yet HL does have a history of heavily promoting certain new IT launches, which is going to have a similar effect.