Stocks and Shares ISA - Virgin Money vs HL

The_pc_tech

I have a VM Stocks and Shares ISA for two purposes.

1. Long term I'm intending as a backup to a stakeholder pension

2. If I need some emergency funds I can draw down and pay it back in over time (I do have other savings too)

On the second one it tends to be a slow process when I've had to draw funds as you have to wait for the cheque and wait for it to clear of course, they also sent me a cheque for 43p recently which will cost me more to post!

I asked if they could void the cheque and put it back in and they replied no.

Was thinking about transferring it to HL as not least it looks to be direct transfer to bank.

Money is currently split between a Bonds and Gilts fund and an all share tracker.

Anyone care to offer opinions, would I be spending more on management fees etc?

dunstonh

Money is currently split between a Bonds and Gilts fund and an all share tracker.

So, not particularly good there either.

Anyone care to offer opinions, would I be spending more on management fees etc?You are paying more with what you have. Alternatives are cheaper and you should do a better job with the investment spread as that is costing you more than the charges.  Focus on the primary concern, which is where you invest, first then the secondary issue of charges.

ChilliBob

Have a look on Monevator site for a comparison of platforms. It depends on the size of your pot whether fixed fee or percentage fee is best, the sort of investments you intend to make, and how often then have an impact. 

Albermarle

There are a lot more S & S Isa providers than HL or VM.
Stocks & shares ISAs: find the best platform - MSE (moneysavingexpert.com)
There are seven mentioned in this link, and you could also add HSBC; Barclays; Fidelity and many more .

The_pc_tech

The_pc_tech said:

I have a VM Stocks and Shares ISA for two purposes.

1. Long term I'm intending as a backup to a stakeholder pension

2. If I need some emergency funds I can draw down and pay it back in over time (I do have other savings too)

On the second one it tends to be a slow process when I've had to draw funds as you have to wait for the cheque and wait for it to clear of course, they also sent me a cheque for 43p recently which will cost me more to post!

I asked if they could void the cheque and put it back in and they replied no.

Was thinking about transferring it to HL as not least it looks to be direct transfer to bank.

Money is currently split between a Bonds and Gilts fund and an all share tracker.

Anyone care to offer opinions, would I be spending more on management fees etc?

I gather it's probably a better idea to not spread across funds from what you are saying?

I did dabble with a Stocks and Shares ISA from First Direct whom I've been a customer of for nearly 12 years, probably like a proportion of those reading this I work full time and so am not in a position to manage this myself hence why I'm keen to invest in a fund and let someone who does it professiomally do it.

I'd rather keep the tax advantages of an ISA and keep it with a British bank/broker as if things do go south again their home market is their primary concern.

While I know we've had fund managers that people claimed had the midas touch turn out to make spectacular mistakes I don't forget that the financial crisis was kicked off by our American Cousins.

Apologies if any of my response has you banging your desk/phone/tablet, I'm not a member of DENSA but I do IT for a living rather than this so trying to get as much info as I can.

Thanks again for taking your time to respond, I do very much appreciate it.

Albermarle

You could have a Stocks and shares with a British company but be invested in funds with no UK content .
Or you could have S&S ISA with a foreign owned provider ( but with a UK base )  and be invested in 100% UK funds .
Do not mix up the provider of the ISA with the actual investments your money is actually in ( which is usually more important)