Interactive Investor feedback

k_man

masonic said:

k_man said:

Maybe the wrong terminology then

With HL you can change funds without an explicit sell and buy, and there appears to be no significant gap between old fund to new.

Unless they've changed things, at HL the buy order is executed at the valuation point after the sell order is executed (i.e. buy and sell do not happen on the same day). This is the same as ii, but at ii you must place the two orders separately, meaning that you have to wait until the sell order executes to place the buy order. So it is a convenience thing, rather than being out of the market for longer.

Thanks for the clarification

k_man

I think, I was misremembering this, and it was actually prefunding (or not) of tax on SIPPs...

masonic

k_man said:

I think, I was misremembering this, and it was actually prefunding (or not) of tax on SIPPs...

Yes, could be prefunding of tax relief when you make a contribution. Not many providers do this.

k_man

masonic said:

k_man said:

I think, I was misremembering this, and it was actually prefunding (or not) of tax on SIPPs...

Yes, could be prefunding of tax relief when you make a contribution. Not many providers do this.

Found the old thread, and yes looks like only advisor based platforms seem to do this.
I know Aviva do.

Back to the OP...
IMO HL has some real benefits:
free trades, easier fund switches, discounts on funds, caps if only holding IT, ETF, bonds or shares.

Whether they are worth 300/year is the decision.
Have you checked fund charges in II Vs HL?
For some funds the discount from HL can be 0.25%, wiping out some/all of the platform fee.

FYI I use both HL and II

masonic

If I were interested in transferring my SIPP, both HL and ii would get crossed off the list fairly quickly. But I'm content not to hold any open ended funds, so can bring costs right down elsewhere.

Albermarle

Yes, could be prefunding of tax relief when you make a contribution. Not many providers do this.

Found the old thread, and yes looks like only advisor based platforms seem to do this.
I know Aviva do.

As far as I know the traditional insurers/pension providers usually pre fund the tax relief , whether they are advisor based or not .
For example Standard Life .

Also Fidelity will do switches of OEIC funds, without waiting for settlement , but of course they have to wait until the valuation points are reached , so the actual timing can vary .

mutley74

k_man said:

masonic said:

k_man said:

I think, I was misremembering this, and it was actually prefunding (or not) of tax on SIPPs...

Yes, could be prefunding of tax relief when you make a contribution. Not many providers do this.

Found the old thread, and yes looks like only advisor based platforms seem to do this.
I know Aviva do.

Back to the OP...
IMO HL has some real benefits:
free trades, easier fund switches, discounts on funds, caps if only holding IT, ETF, bonds or shares.

Whether they are worth 300/year is the decision.
Have you checked fund charges in II Vs HL?
For some funds the discount from HL can be 0.25%, wiping out some/all of the platform fee.

FYI I use both HL and II

Thanks everyone for the advice.

With HL I can currently sell ITs and shares and with the funds received by the sale, use the to invest within minutes again. 

My SIPP portfolio is about 65% funds and 35% ITs/shares
My ISA is about 90% ITs/Shares and 10% funds.  

I do like HL customer service, app is easy to use, and the website straightforward too. I still not forgiven them for the Woodford scandal!

I a just trying to review my investments including a review of all my fees paid.  

I checked a few of my existing fund holdings with HL, and ii do not provide any fund discount. I need to do further checks. I notice ii dont seem to offer as many fund classes as HL when I checked on one. 

Aminatidi

Have you looked at IWeb?

Cheaper than II but less of a selection of funds and ETFs.

ChilliBob

Aminatidi said:

Have you looked at IWeb?

Cheaper than II but less of a selection of funds and ETFs.

If service is important I'd swerve iweb though. I think they are chronically understaffed as enquiries take a while and can be hit and miss. 

I've used both Iweb and currently use II (and fidelity, Lloyds share dealing, abs HL for 'active savings').

Interface wise I think Fidelity is really nice, but it only makes economic sense for a JISA or an ISA just with ETFs or ITs

I do find the II app just okay, not dire, not brilliant! I think you'd only need it better if you invested tonnes more frequently really

Albermarle

Interface wise I think Fidelity is really nice, but it only makes economic sense for a JISA or an ISA just with ETFs or ITs

Also makes sense for a SIPP as well, as no extra fees for SIPP or drawdown/withdrawals. Worth noting that even with funds the cost drops to 0.2% if you have £250K on the platform and unlike HL this lower % applies for all funds, not just those over £250K