Halifax £36 hike?

Frank99

Had an email outlining a new charge of £36 a year for holding a  Halifax sharebuilder account, i only like to trade occasionally and like to leave them in drip schemes mainly.
I think i prefer the old days of share certificates if they are gonna slap annual charges on like this.
Anyone planning to switch and if so where too?

Alexland

If you are regularly investing in shares (not funds, and assuming this is not an ISA otherwise the hike would be less than £36 pa as you would already be paying £12.50 pa) then you may find Hargreaves Lansdown's Fund & Share account attractive with no ongoing charge for holding shares and low charges for both regular investing and dividend reinvestment. You would need to check that HL support regular investing with your choice of share. If you are likely to be making adhoc trades then those are cheaper at Jarvis X-O.

ivormonee

Frank99 said:

Anyone planning to switch and if so where too?

There's no one size fits all here as different platforms will suit different types of investment behaviour - low frequency v. high frequency trading; low value assets v. high value, etc. With most comparisons there are tipping points - eg. HL may not levy an annual charge for the non-wrapped a/c but do for an ISA wrapper and either way charge £12.50 (as per above post) for trades; Halifax will charge £9.50 so, depending on how many trades you do there comes a point where it tips into Halifax's favour as the lower trade costs start to outweight the annual charge.

Similar comparisons can be made for any pair of platforms.

Alexland

ivormonee said:

HL may not levy an annual charge for the non-wrapped a/c but do for an ISA wrapper and either way charge £12.50 (as per above post) for trades;

To be clear the £12.50 is the existing annual charge for a HSD ISA.

HL adhoc share trades are £11.95 each (or less with frequent trading) but the reason I was suggesting HL was for the £1.50 regular DD trade price, the 1% divi reivestment (min £1 max £10) and no ongoing fee for holding shares in unwrapped accounts..

trickydicky14

Help me out please,
I have around 125k in funds VLS within an ISA  with HSD, been with them for about 4 years and generally happy with service and cost.
At best, I only purchase once or at most twice a year with add hoc sums of money.
My question, could I save much by moving to a new platform now HSD is putting up its charges.
And if so, who would you suggest.
I have attempted to understand other platform cost but got a bit confused as all of our requirements and needs are different. 
To be honest, if we are talking just a few quid I would stay with Halifax.
Interested to hear what folks have to say.

eskbanker

trickydicky14 said:

I have around 125k in funds VLS within an ISA  with HSD, been with them for about 4 years and generally happy with service and cost.

[...]

To be honest, if we are talking just a few quid I would stay with Halifax.

Personally I'd suggest that you look at it as an increase in your annual cost (excluding trades) from 0.01% to 0.03% and act accordingly by doing nothing - shoot me if this is in breach of all the sacred principles of MSE....!

trickydicky14

eskbanker, thanks for your comment.

I think I would have to agree with you so I don’t see me being the one to pull the trigger.