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AJ Bell LISA v EQi LISA
Comments
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noclaf said:Op, I am in a similar boat to you (including age), I posted a thread about this recently and the helpful responses from the guys on here (some have posted above) led me to go with AJ Bell...transfer from my Skipton Lisa still in progress. The only reason I picked AJ Bell is due to some slightly negative comments I've read online about EQI's platform ..don't let that put you off, I don't need bells and whistles personally but I like a platform that is easy and efficient to use e.g: Vanguard' S&SISA platform..nothing too fancy and a unfussy layout but IMO does the job well.0
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Alexland said:I agree the way EQi present their charges could be better but they are very clear that fund trading is free and when your LISA account gets big enough they will cap the charges at £10/qtr so for funds they should be cheaper than AJ Bell. For the £1.50 regular trading rate they probably mean for exchange traded shares not funds. Even if it did apply to funds (which is unlikely) you could get around it by doing manual adhoc trades each month. I can't vouch for EQi's service as our LISAs are with AJ Bell and it's not enough of a saving to be worth moving with time out of the market as EQi don't accept stock transfers. We have around £25k each in an ETF for which AJ Bell will now cap at £42 pa and we do 5 scheduled £1.50 trades pa so only £9.50 pa more than EQi. The service from AJ Bell is fairly good.
Ps I deliberately have our different types of accounts with different providers to increase protection and take advantage of different charge models.0 -
OldManLogan said:noclaf said:Op, I am in a similar boat to you (including age), I posted a thread about this recently and the helpful responses from the guys on here (some have posted above) led me to go with AJ Bell...transfer from my Skipton Lisa still in progress. The only reason I picked AJ Bell is due to some slightly negative comments I've read online about EQI's platform ..don't let that put you off, I don't need bells and whistles personally but I like a platform that is easy and efficient to use e.g: Vanguard' S&SISA platform..nothing too fancy and a unfussy layout but IMO does the job well.1
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noclaf said:OldManLogan said:noclaf said:Op, I am in a similar boat to you (including age), I posted a thread about this recently and the helpful responses from the guys on here (some have posted above) led me to go with AJ Bell...transfer from my Skipton Lisa still in progress. The only reason I picked AJ Bell is due to some slightly negative comments I've read online about EQI's platform ..don't let that put you off, I don't need bells and whistles personally but I like a platform that is easy and efficient to use e.g: Vanguard' S&SISA platform..nothing too fancy and a unfussy layout but IMO does the job well.
If I do this EQi is now maybe looking the way to go with the lower overall fees, a lot to think about! Does this sound sensible if my plan is pretty much to 'fire and forget' with a Vanguard Retirement Fund? For context I have a good work based contribution pension that I already receive maximum matched employer contributions from, this is more to top this up and help out my son who will turn 23 when I can access the LISA.0 -
Yes if you stick to funds then AJ Bell's fees will keep going up as the account gets bigger. That's why we hold an ETF for the capping. I did have an idea of recycling some of our LISA money into my younger wife's pension for a little bit of tax benefit from when I am 60 until she is 75 and giving the rest to the kids in their 20s for house deposits hoping there is a new government scheme for them to earn further bonuses on it....0
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Alexland said:Yes if you stick to funds then AJ Bell's fees will keep going up as the account gets bigger. That's why we hold an ETF for the capping. I did have an idea of recycling some of our LISA money into my younger wife's pension for a little bit of tax benefit from when I am 60 until she is 75 and giving the rest to the kids in their 20s for house deposits hoping there is a new government scheme for them to earn further bonuses on it....1
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grumiofoundation said:But what about your older wife’s pension... 🤔
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I've looked at a few Vanguard funds on EQi and they all seem to say minimum investment is £100,000. Surely this isn't correct? I invest in a S+S ISA with Vanguard through their own platform, minimum initial investment was £500 with minimum monthly investment after that £100, AJ Bell minimum investment is £1 in the same funds. Am I missing something really obvious?
https://eqi.co.uk/info/stock-detail?ISIN=GB00B3TYHH97#!?id=F00000MLUO&idCurrencyId=&idType=msid&marketCode=&name=Vanguard LifeStrategy 60% Equity A Acc
https://eqi.co.uk/info/stock-detail?ISIN=GB00BZ6VK781#!?id=F00000X4GD&idCurrencyId=&idType=msid&marketCode=&name=Vanguard Target Retirement 2040 Acc
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OldManLogan said:I've looked at a few Vanguard funds on EQi and they all seem to say minimum investment is £100,000. Surely this isn't correct? I invest in a S+S ISA with Vanguard through their own platform, minimum initial investment was £500 with minimum monthly investment after that £100, AJ Bell minimum investment is £1 in the same funds. Am I missing something really obvious?It's not really obvious, but that £100k minimum is what the platforms reselling the product, including Vanguard's own platform, are required to (promise to) buy.Retail clients buy a small fraction of this allocation each from their platform.
Eco Miser
Saving money for well over half a century1 -
Yes for an individual retail investor using a platform the high minimums can usually be ignored and provided the fund trade is reasonable the fund manager is likely to accept the order.1
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