Investment platform - which is best for me?

juststuff123

I've been with HL for a few years, since my portfolio was very small, the HL fees really didn't bother me £2 per month but now I've got more invested I'm noticing (and not liking) the approx £10 per month admin fees. and with more due to be invested, I think I should find a better platform. I only invest in funds, and I tend to stick with what I have rather than chopping and changing every 5 minutes, however the thought of being charged every time I purchase more units in my current funds or invest in new funds doesn't appeal to me at all.

What platform do you recommend?

Thanks

El_Torro

There are various platform comparison articles out there, for example: https://www.thisismoney.co.uk/money/pensions/article-5937747/How-pick-best-cheapest-Sipp-build-pension-investments.html


I use both HL and AJ Bell. I have a preference for HL, though that's probably just because I've been using it longer so am more used to it. AJ Bell is cheaper, which is why I invest any new money there.


If you're planning to transfer to another provider then be aware that HL will charge you exit fees.

JohnRo

Purely in terms of cost it obviously depends on the total value of your portfolio, as that creates the baseline platform fee for comparison at the various percentage fee brokers.

If you're being charged approx £10 a month at HL then that suggests a pot of about £26.6K total.

At 0.35% on that amount you'd be charged approx £7.75 a month
at 0.25% on that amount you'd be charged approx £5.54 a month

that would save you well over 40% on HL fees

https://monevator.com/compare-uk-cheapest-online-brokers/

When it comes to fixed fee, transactional brokers the total is not important as long as it exceeds the minimum cost saving threshold versus the percentage fee comparison.

You need to consider how many lines of stock you hold, how often you trade in to or out of each of them and whether that can be adjusted to minimise the number of transaction fees in a year.


I'd personally recommend AJB on price for the percentage broker.

Vanguard are the cheapest percentage broker if you already use or you're prepared to switch to their own funds.

Choosing a fixed fee platform is more complex.

I'm with CSD in the main, they're very good but not the cheapest at first glance. I have my own reasons for using them.

Albermarle

Have a look at this :

http://www.comparefundplatforms.com/