Interactive Investor to buy the Share Centre

cloud_dog

StewD said:

Wow. Just got the paper work through for the move from Share Centre to Interactive Investor (ii). Seems they don't want to keep customers. Across 2 x Junior ISAs plus 2 funds saving for university we are promised fee increases of over £900 per year. Just wow - 20 years of loyalty clearly means nothing.
And we still have to pay fees to withdraw or move our money elsewhere. Incredible.

Just to comment that Fidelity no longer charge a platform fee for JISAs, and do not charge to trade when investing in OIECs.

jaybeetoo

The charges are set out at https://www.ii.co.uk/ii-accounts/isa/junior-isa

sandsy

Got my paperwork yesterday too - and we're off elsewhere. Monthly account fees up from £1.50 to £10 for each Junior ISA and from £5 to £10 for each Stocks and Shares ISA.

bowlhead99

sandsy said:

Got my paperwork yesterday too - and we're off elsewhere. Monthly account fees up from £1.50 to £10 for each Junior ISA and from £5 to £10 for each Stocks and Shares ISA.

I think at ii the monthly account fee of £10 will cover you for both an S&S ISA and a JISA, so it's £3.50 more instead of of £13.50 more?   

"Our fixed fee covers you for multiple accounts: If you already have an account with us, you can add a JISA for no extra fee."   

As the fixed fee gives you some trading credit each month, and they recently did away with the fee for 'regular investments', it might not actually be as bad as you are thinking, depending on your purchasing habits.

[Deleted User]

bowlhead99 said:

sandsy said:

Got my paperwork yesterday too - and we're off elsewhere. Monthly account fees up from £1.50 to £10 for each Junior ISA and from £5 to £10 for each Stocks and Shares ISA.

I think at ii the monthly account fee of £10 will cover you for both an S&S ISA and a JISA, so it's £3.50 more instead of of £13.50 more?   

"Our fixed fee covers you for multiple accounts: If you already have an account with us, you can add a JISA for no extra fee."   

As the fixed fee gives you some trading credit each month, and they recently did away with the fee for 'regular investments', it might not actually be as bad as you are thinking, depending on your purchasing habits.

I think they are all in different names, hence the large cost

Froggitt2

Where is everyone moving to? Already got an iWeb account, need another low cost provider.

IvanOpinion

StewD said:

Wow. Just got the paper work through for the move from Share Centre to Interactive Investor (ii). Seems they don't want to keep customers. Across 2 x Junior ISAs plus 2 funds saving for university we are promised fee increases of over £900 per year. Just wow - 20 years of loyalty clearly means nothing.
And we still have to pay fees to withdraw or move our money elsewhere. Incredible.

I agree with Bowlhead, I think you have totally misunderstood the charges.  For their basic account it will cost £9.99 per month and you will get up to 12 free trades per year, and if you have a regular monthly investment that is no extra cost.  If you have a SIPP then that will be £10 per month in addition ....... and that is pretty much it (unless you trade more often).
Naturally that is per person, so if the JISAs are in separate accounts then it will be circa £120 per year per account.  
I have no idea where the £900 is coming from.  Try entering your basic numbers into http://www.comparefundplatforms.com/

TBC15

IvanOpinion said:

StewD said:

Wow. Just got the paper work through for the move from Share Centre to Interactive Investor (ii). Seems they don't want to keep customers. Across 2 x Junior ISAs plus 2 funds saving for university we are promised fee increases of over £900 per year. Just wow - 20 years of loyalty clearly means nothing.
And we still have to pay fees to withdraw or move our money elsewhere. Incredible.

I agree with Bowlhead, I think you have totally misunderstood the charges.  For their basic account it will cost £9.99 per month and you will get up to 12 free trades per year, and if you have a regular monthly investment that is no extra cost.  If you have a SIPP then that will be £10 per month in addition ....... and that is pretty much it (unless you trade more often).
Naturally that is per person, so if the JISAs are in separate accounts then it will be circa £120 per year per account.  
I have no idea where the £900 is coming from.  Try entering your basic numbers into http://www.comparefundplatforms.com/

For some reason the comparison site doesn’t like a Fidelity SIPP holding IT’s.

I think the Snowman’s spreadsheet does a better job https://drive.google.com/file/d/1gTC-7vV-rnauaD8TnLgtH-JYxzPT1wdT/view