S&S LISA Provider - AJ Bell or Hargreaves Lansdown

edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings
17 replies 3.9K views
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  • AlexlandAlexland Forumite
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    Ok stuff the fancy HL App we are going to transfer the LISAs to AJB as it looks a lot better and cheaper for managing a larger LISA with exchange traded assets regardless of contribution pattern.

    Sadly I was an AJB customer in the past so nobody can refer me for the £50 Amazon voucher but if I open my LISA first then I can refer my wife to transfer which will help cover the HL exit fees. I had already confirmed with AJB their exit fee offer doesn't cover LISAs.

    So our final El Cheapo configuration for our main 8 accounts will be Fidelity ETF SIPPs, iWeb fund S&S ISAs, YouInvest ETF LISAs and Vanguard fund Junior ISAs.

    Thanks,
    Alex
  • AlexlandAlexland Forumite
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    Alistair31 wrote: »
    I guess next year I just wait until the bonus comes in then set up monthly regular investment for £2500 and then cancel it after the second payment has processed ? Thus incurring charges of £3 rather than £10 as a one off investment ? Risk being time out of market and market swings during the period.

    Rather than doing two £2500 regular investments wouldn't it be better to do a £4000 one off regular investment then, when you know the bonus has been added, do a £1000 one off regular investment? Or maybe a bit less to top-up the account cash balance for fee deductions in the year ahead.

    Alex
  • masonicmasonic Forumite
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    Yeah, I just set it to invest the £4k (plus whatever spare change I have in the account above what I'll need for fees) and then change it to £1k after that. If there are insufficient funds it just fails to execute, so no need to even verify the bonus is added before changing. I cancel it after that to avoid a monthly message telling me it couldn't be executed.
  • edited 25 August 2019 at 5:25PM
    Alistair31Alistair31 Forumite
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    edited 25 August 2019 at 5:25PM
    Thanks Alex, Masonic. Two of my favourite contributors to this forum :)

    Another question if I may; I will soon be committing £50k to AJB SIPP (split over this FY and next), do you know if AJB capped fee for ETFs is cumulative across account types, ie my LiSA and SIPP. Hoping to limit fees and complexity by just going MSCI World ETF Acc in both accounts and hoping if I just left a spare £100 in the SIPP (gaining from tax) would cover fee for both LISA and SIPP ? Not sure if that would work though ?
  • edited 25 August 2019 at 6:00PM
    AlexlandAlexland Forumite
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    edited 25 August 2019 at 6:00PM
    No I believe AJB cap per account and their SIPP cap is £100 so it might be worth considering Fidelity who cap their SIPP at £45? Fidelity have a lesser choice of ETFs so we hold SWDA there which has a higher fee than LCWL but a tighter spread. Both are accumulation World ETFs. We also hold bonds and EM exposure in our SIPPs. It doesn't seem worth doing this in the LISAs as they are relatively small accounts
  • Alistair31Alistair31 Forumite
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    Alexland wrote: »
    No I believe AJB cap per account and their SIPP cap is £100 so it might he worth considering Fidelity who cap their SIPP at £45? Fidelity have a lesser choice of ETFs so we hold SWDA there which has a higher fee than LCWL but a tighter spread. Both are accumulation World ETFs. We also hold bonds and EM exposure in our SIPPs. It doesn't seem worth doing this in the LISAs as they are relatively small accounts

    Amazing. Looks like I may just have saved myself even more money in fees. I have £2500 currently in my SIPP with AJB but I believe fidelity will even cover my exit charges if I switch it over to them, I should probably do that now and then when I have the funds from property sale commit it straight in to Fidelity for the £45 cap. It’s a pity AJB fees weren’t cumulative as my preference would have been to limit platforms/accounts but that is quite a difference in fees.

    Thanks again
  • AlexlandAlexland Forumite
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    Right 2 new LISAs opened with AJB and transfer paperwork completed ready to post. Thankfully as we had been pondering a transfer we had left enough cash in the HL accounts to both pay the exit/transfer fees and account fees for the remainder of the tax year so no need to incur a trade fee selling down units.

    I just uninstalled the HL app and on reinstall it had forgotten all my details but works without an account so I can freeload and still track all my investments in one place.

    Alex
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