AJ Bell LISA - Fund Dealing Charges

OldManLogan

Hello,
I have a cash LISA with Moneybox that I am looking at transferring into a S+S LISA with AJ Bell, who seem to be the only one I can find that allows this type of transfer (cash to S+S). I have been looking at the fees involved and wanted to check that AJ Bell charges £1.50 for buying and selling investments per deal? Am I right in thinking that if I put my current LISA balance into a fund such as Vanguard 60/40 or a Vanguard retirement fund within AJ Bell's LISA, then if I fund it monthly I will be charged £1.50 each time?
Apologies if this seems obvious, I also have a personal ISA with Vanguard that I fund monthly that has no dealing fee, so I just want to be sure.

As I say AJ Bell seems to be the only platform that accepts transfers of a cash LISA into a S+S LISA so my options are limited.
Thanks in advance. 

Herbalus

It’s £1.50 for regular dealing charges, yes, that’s my understanding.

The LISA market is small - the only other ones I’m aware of are Hargreaves lansdown or EQI - have you checked these?

Alexland

HL won't take an inbound transfer but EQi should if still under 40. EQi have a lower percentage charge than AJ Bell and no fund trading fees.

OldManLogan

Herbalus said:

It’s £1.50 for regular dealing charges, yes, that’s my understanding.

The LISA market is small - the only other ones I’m aware of are Hargreaves lansdown or EQI - have you checked these?

Thanks for you reply, yes unfortunately HL doesn't accept transfers into their LISA. EQI do but I'm a bit put off by their negative reviews, although they don't charge for fund dealing and the LISA fee is only 0.2%

OldManLogan

Alexland said:

HL won't take an inbound transfer but EQi should if still under 40. EQi have a lower percentage charge than AJ Bell and no fund trading fees.

Thank you, I was looking at EQi but was a bit put off by some of the negative reviews