Platform options for Stocks & Shares ISA with monthly regular saver plans

ljayljay

I initially opened my S&S ISA monthly regular saver plan with Cavendish. At the time they seemed like a good option with the low percentage fees on a small investment. However, subsequently Cavendish sold out to Fidelity. My ISA has now grown to around £50K & platform fees of £15…& increasing monthly, so am considering a transfer to another platform. Especially as Fidelity wasn’t my choice in the first place.

I have a leaning towards Interactive Investor fixed fee platform but just want to check if there will be any extra fees for the 10 funds I am buying into each month as part of my regular savings plan. At present Fidelity do not charge for this.

Also does anyone have experience of transferring from Fidelity to Interactive Investor & if so, did everything go smoothly?

Alternatively, are there any other platforms that will better suit my requirements?

ColdIron

While you're waiting for people familiar with II you might want to peruse this. See the Regular investing column

https://monevator.com/compare-uk-cheapest-online-brokers/

Alice_Holt

No extra ii fees - see:
https://www.ii.co.uk/investing-with-ii/regular-investing

Andy7856

I moved from Fidelity to II. It was quite painless but very slow (about 2 months) as I had about 10 funds to move across (spread over about 7 fund managers)

II give you free regular saving, but the date is fixed.  The minimum is £25 per fund but very easy to top up adhoc without increasing the DD value (you just pay more into the cash fund that month.  You can also use this method to trade on the cheap.  for example I buy more shares in my IT using the dividends earnt  using the regular saving function than using the dividend re-investment process they offer, or using the free trading credit.  

hoc

ii are good for this

ljayljay

Andy7856 said:

I moved from Fidelity to II. It was quite painless but very slow (about 2 months) as I had about 10 funds to move across (spread over about 7 fund managers)

II give you free regular saving, but the date is fixed.  The minimum is £25 per fund but very easy to top up adhoc without increasing the DD value (you just pay more into the cash fund that month.  You can also use this method to trade on the cheap.  for example I buy more shares in my IT using the dividends earnt  using the regular saving function than using the dividend re-investment process they offer, or using the free trading credit.  

Thanks, that appears to be a mirror of what I am currently getting from Fidelity but cheaper so think I will go ahead.

So long as I'm not out of the market the timeframe for transfer isn't a particular concern.

Also, I have just seen this....

'Get a £200 reward when you recommend ii to a friend – and they’ll get their first year’s service plan for free'

My wife also has a similar amount in Fidelity so may get her to delay transfer until mine has gone through for us to get this extra bonus, assuming of course that it doesn't get pulled in the near future.

Andy7856

ljayljay said:

Andy7856 said:

I moved from Fidelity to II. It was quite painless but very slow (about 2 months) as I had about 10 funds to move across (spread over about 7 fund managers)

II give you free regular saving, but the date is fixed.  The minimum is £25 per fund but very easy to top up adhoc without increasing the DD value (you just pay more into the cash fund that month.  You can also use this method to trade on the cheap.  for example I buy more shares in my IT using the dividends earnt  using the regular saving function than using the dividend re-investment process they offer, or using the free trading credit.  

Thanks, that appears to be a mirror of what I am currently getting from Fidelity but cheaper so think I will go ahead.

So long as I'm not out of the market the timeframe for transfer isn't a particular concern.

Also, I have just seen this....

'Get a £200 reward when you recommend ii to a friend – and they’ll get their first year’s service plan for free'

My wife also has a similar amount in Fidelity so may get her to delay transfer until mine has gone through for us to get this extra bonus, assuming of course that it doesn't get pulled in the near future.

bear in mind fund swaps with II are charged twice (sell then buy) so make any tweaks to your portfolio before your transfer,  Once in II you would have to pay to sell. then use the regular investment service to buy back into the correct fund allocations.

ljayljay

Andy7856 said:

bear in mind fund swaps with II are charged twice (sell then buy) so make any tweaks to your portfolio before your transfer,  Once in II you would have to pay to sell. then use the regular investment service to buy back into the correct fund allocations.

OK, so I take it this is free with Fidelity? I was thinking of reducing the number of funds I have so thanks for the heads up.

Andy7856 said:

The minimum is £25 per fund but very easy to top up adhoc without increasing the DD value (you just pay more into the cash fund that month. 

So does ii charge for this? I have done the occasional top up with Fidelity to use up my available ISA allowance with no additional fees. Although, this wouldn't be a deal breaker as I could look to adjust the regular saver instead.