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AJ Bell custody charge

FDa65rdk
Posts: 141 Forumite

Hello
I've recently transferred my stocks and shares ISA to AJ Bell.
The balance on the account was a negative figure due to a custody charge - the AJ Bell fee for holding the investment.
I then deposited some funds as part of my annual ISA subscription but, after doing so, the amount was netted off against the custody charge.
Does this mean that it is not possible for investors to allocate the full £20000 ISA subscription to their investments because of the custody charge being deducted from it?
If so, this doesn't seem fair to me. I don't see why an annual ISA subscription should be used to pay brokers' fees.
Isn't it possible to set up a separate account (like with Hargreaves Lansdown) where investors can deposit funds to pay the brokers' fees so that the ISA allowance isn't touched?
Thanks.
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Comments
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Yes, you should have instructed AJ Bell to take platform fees from your general dealing account...
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This situation is the same for all investment platforms including HL, AJ Bell, Fidelity, Vanguard etc...
Yes, AJ Bell will let you pay the ISA custody charges from your dealing account. You just need to contact them and request it (I find they're very responsive to secure messages).
Out of interest, I take it you transferred your investments from HL?"If you aren’t willing to own a stock for ten years, don’t even think about owning it for ten minutes” Warren Buffett
Save £12k in 2025 - #024 £1,450 / £15,000 (9%)1 -
george4064 said:This situation is the same for all investment platforms including HL, AJ Bell, Fidelity, Vanguard etc...
Yes, AJ Bell will let you pay the ISA custody charges from your dealing account. You just need to contact them and request it (I find they're very responsive to secure messages).
Out of interest, I take it you transferred your investments from HL?
I think they are not the only platform doing this, but not sure.1 -
DavidT67 said:Yes, you should have instructed AJ Bell to take platform fees from your general dealing account...That's great, thanks! I've requested this.It seems odd that you have to email them to request this rather than having the option to do it online through the account settings but it should be sorted now.0
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george4064 said:This situation is the same for all investment platforms including HL, AJ Bell, Fidelity, Vanguard etc...
Yes, AJ Bell will let you pay the ISA custody charges from your dealing account. You just need to contact them and request it (I find they're very responsive to secure messages).
Out of interest, I take it you transferred your investments from HL?
Yes. I transferred from HL - I thought their fees were too expensive.
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george4064 said:This situation is the same for all investment platforms including HL, AJ Bell, Fidelity, Vanguard etc...
Yes, AJ Bell will let you pay the ISA custody charges from your dealing account. You just need to contact them and request it (I find they're very responsive to secure messages).
Out of interest, I take it you transferred your investments from HL?
Many can take it as DD from a current account and do not insist you open a dealing account.
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