Interactive Investor (Stocks and Shares ISA/SIPP etc.)

Alexland

While I can see the benefit from the existing customer perspective (an easy £100) from a new customer perspective without the trade credits it would be better to use a TopCashBack, Quidco etc offer or go with someone cheaper as even with the missing trade credits the II ongoing pricing rarely works out cheapest for people who assess platform options for their circumstances on this forum.

The danger II have is they get new customers who feel mislead when they realise the value of the trade credits that they are missing due to that small print. Not a good way to start a new long term relationship of trusting a provider to look after your assets.

The balance of benefit under this offer is so skewed so I wouldn't even feel comfortable recommending it to a friend as they might come back and complain that they lost their trade credits so I could get my £100. What a mess but thanks for bringing it to our attention as it's an interesting example of how not to structure an offer.

sairy.gamp

masonic said:

sairy.gamp said:

masonic said:

sairy.gamp said:

masonic said:

sairy.gamp said:

@masonic HL charge 0.45% PA unless your pot is quite large when this reduces on a tier basis. On 10K, II charge no basic charge under this offer for the first 12 months (+ no SIPP fee either for 6mths.).
The SIPP offer is not contingent on any referral as you say and is open for all to enjoy

I'm not sure why HL have been mentioned, but running those numbers, on a £10k pot, total cost at HL would be £45 per year (with no promotions applied), whereas at ii it would be £60 in the first year, then £240 in the second year.

HL is widely acknowledged to be a premium priced provider. It would be better to compare with the likes of Halifax Sharedealing and sister brand iWeb, and AJ Bell/X-O if you can build a portfolio from ETFs, shares and investment trusts (even HL caps platform fees at £200 for the latter).

I hold a S&S ISA with ii and that works for me because I use the trading credit for rebalancing, but I wouldn't be even slightly tempted by their SIPP offering.

I mentioned HL in response to your claiming that II was not worthwhile over the longer term in order to demonstrate that some providers are indeed dearer (much) in given scenarios (Chelsea are 0.5%). Your sweeping claim cannot be arbitarily made. It falls to any individual to decide which aspects of which platform (charges, fund selection, promotions etc.) are most favourable in their own individual case. The purpose of my original post was to advise those making this important decision and perhaps considering II, that a promotion was in place. It is for the individual to then decide whether there is indeed an overall benefit to them from this promotion. Not everyone is a frequent trader for example and so the valid negatives mentioned in this thread about free trades being lost might not matter a fig to some. As I said earlier, yer pays yer money, yer takes yer choice.

All I did was took the figures you provided and demonstrated they did not support what you were implying.

I am not making any sweeping claims, just highlighting the negatives for balance. I'm sorry if you feel my posts are hindering your attempts to make referral money.

masonic said:

sairy.gamp said:

masonic said:

sairy.gamp said:

@masonic HL charge 0.45% PA unless your pot is quite large when this reduces on a tier basis. On 10K, II charge no basic charge under this offer for the first 12 months (+ no SIPP fee either for 6mths.).
The SIPP offer is not contingent on any referral as you say and is open for all to enjoy

I'm not sure why HL have been mentioned, but running those numbers, on a £10k pot, total cost at HL would be £45 per year (with no promotions applied), whereas at ii it would be £60 in the first year, then £240 in the second year.

HL is widely acknowledged to be a premium priced provider. It would be better to compare with the likes of Halifax Sharedealing and sister brand iWeb, and AJ Bell/X-O if you can build a portfolio from ETFs, shares and investment trusts (even HL caps platform fees at £200 for the latter).

I hold a S&S ISA with ii and that works for me because I use the trading credit for rebalancing, but I wouldn't be even slightly tempted by their SIPP offering.

I mentioned HL in response to your claiming that II was not worthwhile over the longer term in order to demonstrate that some providers are indeed dearer (much) in given scenarios (Chelsea are 0.5%). Your sweeping claim cannot be arbitarily made. It falls to any individual to decide which aspects of which platform (charges, fund selection, promotions etc.) are most favourable in their own individual case. The purpose of my original post was to advise those making this important decision and perhaps considering II, that a promotion was in place. It is for the individual to then decide whether there is indeed an overall benefit to them from this promotion. Not everyone is a frequent trader for example and so the valid negatives mentioned in this thread about free trades being lost might not matter a fig to some. As I said earlier, yer pays yer money, yer takes yer choice.

All I did was took the figures you provided and demonstrated they did not support what you were implying.

I am not making any sweeping claims, just highlighting the negatives for balance. I'm sorry if you feel my posts are hindering your attempts to make referral money.

I provided no figures. I provided information about a valid ongoing promotion. You it was who introduced the £10K figure (which is indeed the minimum amount to qualify for this promotion) and you then went on to give a very selective example using this figure only in order to disparage the promotion. Many other examples could be given using different values/pot sizes which would be favourable to other folk in their different circumstances. It is for the individual to decide for themselves suitability as i have said.
This, by-the-way, is a 'money saving forum' and so to cast aspertions upon me for seeking to do just that is rather petty. There is a whole section of this forum given over to such threads - i myself have benefited greatly as both a referer and referee. I would recommend all forum users to have a gander at the 'Referrals' section.

"@masonic HL charge 0.45% PA unless your pot is quite large when this reduces on a tier basis. On 10K, II charge no basic charge under this offer for the first 12 months (+ no SIPP fee either for 6mths.).
The SIPP offer is not contingent on any referral as you say and is open for all to enjoy"
https://forums.moneysavingexpert.com/discussion/comment/78174334/#Comment_78174334

Is that not your post? You quoted the figures of 0.45% PA and 10K "at" me. I merely took them and calculated the resultant charges PA, comparing them to the equivalent cost at ii for a SIPP with or without the promotion.

One can utilise the referrals section without promoting your referrals on the main boards, getting into arguments with people pointing out valid criticisms, and replying to your own posts (in the refferers' thread) to bury the same criticisms as they might put people off.

Yes, in response to another of your sweeping statements, you said:
"Yes the SIPP offer has been around a while and it is not contingent on being referred. Not sure ii could be considered cheap in the longer term for a SIPP though."
You simply are not in a position to generalise and judge the advantages of one scheme over another in this way. It can only ever be the decision of the individual based on their pot size, trading frequency etc.
You intimate my getting into arguments with people pointing out valid criticisms. I have consistently acknowledged any negatives mentioned in my posts. It is still down to a prospective account holder to judge the merits or otherwise of ANY providers offering.
I am somewhat bemused as to your attitude regarding a money saver trying to save/make money on a money saving forum.
If you personally dislike II, then all well and good, that is your privilege, but do desist from the harangue of others and let folk make up there own minds if any given promotion is of any advantage to them.

masonic

sairy.gamp said:

masonic said:

sairy.gamp said:

masonic said:

sairy.gamp said:

masonic said:

sairy.gamp said:

@masonic HL charge 0.45% PA unless your pot is quite large when this reduces on a tier basis. On 10K, II charge no basic charge under this offer for the first 12 months (+ no SIPP fee either for 6mths.).
The SIPP offer is not contingent on any referral as you say and is open for all to enjoy

I'm not sure why HL have been mentioned, but running those numbers, on a £10k pot, total cost at HL would be £45 per year (with no promotions applied), whereas at ii it would be £60 in the first year, then £240 in the second year.

HL is widely acknowledged to be a premium priced provider. It would be better to compare with the likes of Halifax Sharedealing and sister brand iWeb, and AJ Bell/X-O if you can build a portfolio from ETFs, shares and investment trusts (even HL caps platform fees at £200 for the latter).

I hold a S&S ISA with ii and that works for me because I use the trading credit for rebalancing, but I wouldn't be even slightly tempted by their SIPP offering.

I mentioned HL in response to your claiming that II was not worthwhile over the longer term in order to demonstrate that some providers are indeed dearer (much) in given scenarios (Chelsea are 0.5%). Your sweeping claim cannot be arbitarily made. It falls to any individual to decide which aspects of which platform (charges, fund selection, promotions etc.) are most favourable in their own individual case. The purpose of my original post was to advise those making this important decision and perhaps considering II, that a promotion was in place. It is for the individual to then decide whether there is indeed an overall benefit to them from this promotion. Not everyone is a frequent trader for example and so the valid negatives mentioned in this thread about free trades being lost might not matter a fig to some. As I said earlier, yer pays yer money, yer takes yer choice.

All I did was took the figures you provided and demonstrated they did not support what you were implying.

I am not making any sweeping claims, just highlighting the negatives for balance. I'm sorry if you feel my posts are hindering your attempts to make referral money.

masonic said:

sairy.gamp said:

masonic said:

sairy.gamp said:

@masonic HL charge 0.45% PA unless your pot is quite large when this reduces on a tier basis. On 10K, II charge no basic charge under this offer for the first 12 months (+ no SIPP fee either for 6mths.).
The SIPP offer is not contingent on any referral as you say and is open for all to enjoy

I'm not sure why HL have been mentioned, but running those numbers, on a £10k pot, total cost at HL would be £45 per year (with no promotions applied), whereas at ii it would be £60 in the first year, then £240 in the second year.

HL is widely acknowledged to be a premium priced provider. It would be better to compare with the likes of Halifax Sharedealing and sister brand iWeb, and AJ Bell/X-O if you can build a portfolio from ETFs, shares and investment trusts (even HL caps platform fees at £200 for the latter).

I hold a S&S ISA with ii and that works for me because I use the trading credit for rebalancing, but I wouldn't be even slightly tempted by their SIPP offering.

I mentioned HL in response to your claiming that II was not worthwhile over the longer term in order to demonstrate that some providers are indeed dearer (much) in given scenarios (Chelsea are 0.5%). Your sweeping claim cannot be arbitarily made. It falls to any individual to decide which aspects of which platform (charges, fund selection, promotions etc.) are most favourable in their own individual case. The purpose of my original post was to advise those making this important decision and perhaps considering II, that a promotion was in place. It is for the individual to then decide whether there is indeed an overall benefit to them from this promotion. Not everyone is a frequent trader for example and so the valid negatives mentioned in this thread about free trades being lost might not matter a fig to some. As I said earlier, yer pays yer money, yer takes yer choice.

All I did was took the figures you provided and demonstrated they did not support what you were implying.

I am not making any sweeping claims, just highlighting the negatives for balance. I'm sorry if you feel my posts are hindering your attempts to make referral money.

I provided no figures. I provided information about a valid ongoing promotion. You it was who introduced the £10K figure (which is indeed the minimum amount to qualify for this promotion) and you then went on to give a very selective example using this figure only in order to disparage the promotion. Many other examples could be given using different values/pot sizes which would be favourable to other folk in their different circumstances. It is for the individual to decide for themselves suitability as i have said.
This, by-the-way, is a 'money saving forum' and so to cast aspertions upon me for seeking to do just that is rather petty. There is a whole section of this forum given over to such threads - i myself have benefited greatly as both a referer and referee. I would recommend all forum users to have a gander at the 'Referrals' section.

"@masonic HL charge 0.45% PA unless your pot is quite large when this reduces on a tier basis. On 10K, II charge no basic charge under this offer for the first 12 months (+ no SIPP fee either for 6mths.).
The SIPP offer is not contingent on any referral as you say and is open for all to enjoy"
https://forums.moneysavingexpert.com/discussion/comment/78174334/#Comment_78174334

Is that not your post? You quoted the figures of 0.45% PA and 10K "at" me. I merely took them and calculated the resultant charges PA, comparing them to the equivalent cost at ii for a SIPP with or without the promotion.

One can utilise the referrals section without promoting your referrals on the main boards, getting into arguments with people pointing out valid criticisms, and replying to your own posts (in the refferers' thread) to bury the same criticisms as they might put people off.

Yes, in response to another of your sweeping statements, you said:
"Yes the SIPP offer has been around a while and it is not contingent on being referred. Not sure ii could be considered cheap in the longer term for a SIPP though."
You simply are not in a position to generalise and judge the advantages of one scheme over another in this way. It can only ever be the decision of the individual based on their pot size, trading frequency etc.
You intimate my getting into arguments with people pointing out valid criticisms. I have consistently acknowledged any negatives mentioned in my posts. It is still down to a prospective account holder to judge the merits or otherwise of ANY providers offering.
I am somewhat bemused as to your attitude regarding a money saver trying to save/make money on a money saving forum.
If you personally dislike II, then all well and good, that is your privilege, but do desist from the harangue of others and let folk make up there own minds if any given promotion is of any advantage to them.

I stand by the comment I made and if you disagree I invite you to set out the scenario under which ii's SIPP would be the cheapest option for someone.

I don't "personally dislike ii", if I did I probably wouldn't be a customer, but I could not bring myself in good conscience to exploit others for personal gain by participating in this offer, and frankly I don't see a scenario in which it would not be exploitation.

ChilliBob

It's a real shame iweb don't cover all the funds of II, that's the only thing which would tempt me to use II. I even went as far as a live chat with iweb to ask if they could add a couple of funds on II, sadly they 'didn't meet our criteria'    nothing too crazy, on II, HL and C Stanley 

masonic

sairy.gamp said:

Topcashback offer great deals on II offerings, and as i understand it they can be enjoyed in addition to the benefits of this offer. Leastways they have tracked for my other half and myself. Luvly jubbly.

It would be surprising if ii pays out on the TCB referral offer and their own internal referral offer on the same transaction. Time will tell, but in the mean time I would not recommend anyone jeopardise the TCB cashback by taking up this lesser offer as well.

Speedbird676

masonic said:

I hold a S&S ISA with ii and that works for me because I use the trading credit for rebalancing, but I wouldn't be even slightly tempted by their SIPP offering.

What's the reason?

masonic

Speedbird676 said:

masonic said:

I hold a S&S ISA with ii and that works for me because I use the trading credit for rebalancing, but I wouldn't be even slightly tempted by their SIPP offering.

What's the reason?

The extra £10 per month fee they are introducing mainly. It must be pretty unpopular as they have been kicking the can down the road in bringing it to bear,

Speedbird676

masonic said:

Speedbird676 said:

masonic said:

I hold a S&S ISA with ii and that works for me because I use the trading credit for rebalancing, but I wouldn't be even slightly tempted by their SIPP offering.

What's the reason?

The extra £10 per month fee they are introducing mainly. It must be pretty unpopular as they have been kicking the can down the road in bringing it to bear,

Did I miss something? Are you talking about the £10 per month SIPP charge on top of the £9.99 subscription or an additional £10 per month being introduced on top of both of those?

I'm genuinely interested as I already have an ISA and SIPP with ii and when I compared to iWeb the costs were pretty much the same unless my maths are really bad.

masonic

Speedbird676 said:

masonic said:

Speedbird676 said:

masonic said:

I hold a S&S ISA with ii and that works for me because I use the trading credit for rebalancing, but I wouldn't be even slightly tempted by their SIPP offering.

What's the reason?

The extra £10 per month fee they are introducing mainly. It must be pretty unpopular as they have been kicking the can down the road in bringing it to bear,

Did I miss something? Are you talking about the £10 per month SIPP charge on top of the £9.99 subscription or an additional £10 per month being introduced on top of both of those?

I'm genuinely interested as I already have an ISA and SIPP with ii and when I compared to iWeb the costs were pretty much the same unless my maths are really bad.

The extra £10 for having a SIPP. It was waived until April when first announced, now they are giving people 6 months fee free. ISA+SIPP can work out better than SIPP only, but for iWeb to work out pretty much the same over the long term you'd need to be doing 4 trades a month that could be covered by the regular investing service at ii.

sairy.gamp

Speedbird676 said:

masonic said:

Speedbird676 said:

masonic said:

I hold a S&S ISA with ii and that works for me because I use the trading credit for rebalancing, but I wouldn't be even slightly tempted by their SIPP offering.

What's the reason?

The extra £10 per month fee they are introducing mainly. It must be pretty unpopular as they have been kicking the can down the road in bringing it to bear,

Did I miss something? Are you talking about the £10 per month SIPP charge on top of the £9.99 subscription or an additional £10 per month being introduced on top of both of those?

I'm genuinely interested as I already have an ISA and SIPP with ii and when I compared to iWeb the costs were pretty much the same unless my maths are really bad.

Their current price structure for a SIPP - no additional tenner to the acknowledged £19.99 as far as I can see.
https://www.ii.co.uk/ii-accounts/sipp/sipp-charges
Note the reduction in SIPP fees offer (available to all) that can be enjoyed by a new customer in addition to the 'Refer a Friend' promotion - add to this the possibility of Topcashback too (mine tracked so far).