AJ Bell dividence re-investing

eskbanker

Qyburn said:

Audaxer said:

However it does say on their site they will take the charges from your S&S ISA or SIPP "unless you've requested otherwise", so I think you could possibly set-up a General Investment Account with a little cash and request the monthly charges on your S&S ISA or SIPP are taken from there.

In that scenario, woul the value of fees count as ISA subscription?

No, because the money is never actually paid into the ISA, it's just used for settling a debt that happens to relate to operating an ISA.

masonic

Qyburn said:

Audaxer said:

However it does say on their site they will take the charges from your S&S ISA or SIPP "unless you've requested otherwise", so I think you could possibly set-up a General Investment Account with a little cash and request the monthly charges on your S&S ISA or SIPP are taken from there.

In that scenario, woul the value of fees count as ISA subscription?

If fees are not taken from within the ISA, then they do not come out of your ISA allowance. Likewise, if fees are not taken from within the SIPP, you do not benefit from tax relief on the money used to pay them.

Matt_22

Is it easy to transfer your stocks and shares holdings from one provider to another if you wanted later on?

eskbanker

Matt_22 said:

Is it easy to transfer your stocks and shares holdings from one provider to another if you wanted later on?

Yes, assuming the new provider offers the exact same investments, in terms of fund/share classes, etc.

wmb194

*dividends. Which, 'fund' or funds are we talking about? If you used a cheap broker like e.g., Freetrade, CMC Markets or Trading212 you could reinvest your dividends for free. Thing is, they don't offer OEICS but do offer Investment Trusts and ETFs.

Matt_22

eskbanker said:

Matt_22 said:

Is it easy to transfer your stocks and shares holdings from one provider to another if you wanted later on?

Yes, assuming the new provider offers the exact same investments, in terms of fund/share classes, etc.

How is it transferred over? Do they sell and rebuy or just transfer your holding as it it?

eskbanker

Matt_22 said:

eskbanker said:

Matt_22 said:

Is it easy to transfer your stocks and shares holdings from one provider to another if you wanted later on?

Yes, assuming the new provider offers the exact same investments, in terms of fund/share classes, etc.

How is it transferred over? Do they sell and rebuy or just transfer your holding as it it?

To a certain extent it'll depend on the type of account you have, with whom, and how the investments are held within it, but in principle it should be possible to transfer 'in specie', i.e. directly without selling and rebuying.

Alexland

masonic said:

I've been a very happy customer there as well, but not so long ago moved my SIPP to Fidelity to benefit from the reduced fee cap and some cashback. As it turns out, the fees have now pretty much equalised, so it would take very little to tempt me back once I've served my minimum loyalty period for the cashback not to be clawed back.

I've not noticed much difference in the customer service between AJ Bell and Fidelity they are both solid choices and good most of the time but I can think of occasions when they have both painfully very slow to progress something.

I have greater affection for Fidelity as I have been with them for much longer circa 20 years so made much higher gains on their platform, enough to buy a house which I know isn't really a reflection of the platform but I'm still appreciative, and their Wealth service is good. I've made some money with AJ Bell too when they had my SIPP and in more recent years with the LISA.

I was also disappointed when Fidelity doubled their fee cap on exchange traded assets but understanding as it was too cheap to be sustainable and there's no chance me moving my SIPP away from them now as the age 55 access is too important to my plans.

masonic

Alexland said:

masonic said:

I've been a very happy customer there as well, but not so long ago moved my SIPP to Fidelity to benefit from the reduced fee cap and some cashback. As it turns out, the fees have now pretty much equalised, so it would take very little to tempt me back once I've served my minimum loyalty period for the cashback not to be clawed back.

I've not noticed much difference in the customer service between AJ Bell and Fidelity they are both solid choices and good most of the time but I can think of occasions when they have both painfully very slow to progress something.

It's interesting that you've had such a good experience with Fidelity, as for me it has been the polar opposite. I certainly did not get a very good first impression when they aborted my inward transfer and then repeatedly denied ever having received it despite me being able to see it added to my transfer tracker page. It was very much a 'computer says no' mentality right up until the point I submitted a formal complaint, after which, to their credit, someone knowledgeable investigated, identified that it was the result of human error on their side, reactivated it without need for anything further from me, and compensated me accordingly. Perhaps I was just unlucky there, but it left a sour taste in the mouth. More important to me is the inferiority of their regular investing service, which cannot be used for cash already in the account.

In contrast, AJ Bell has built up quite a bit of credit on the CS side by doing an outstanding job of resolving an issue during one time transfer of my HTB ISA into my LISA, where the other provider appeared to be labouring under some misapprehensions about the rules. It was an occasion where I did not have to quote chapter and verse from the ISA regs, as AJ Bell proactively dealt with it for me.

It just goes to show how these personal experiences can colour our views of the companies concerned.

Alexland said:

I was also disappointed when Fidelity doubled their fee cap on exchange traded assets but understanding as it was too cheap to be sustainable and there's no chance me moving my SIPP away from them now as the age 55 access is too important to my plans.

I'm interested to understand why transferring your SIPP to a new provider might impact the age at which you could access it.

Alexland

masonic said:

It's interesting that you've had such a good experience with Fidelity, as for me it has been the polar opposite. I certainly did not get a very good first impression when they aborted my inward transfer and then repeatedly denied ever having received it despite me being able to see it added to my transfer tracker page. It was very much a 'computer says no' mentality right up until the point I submitted a formal complaint, after which, to their credit, someone knowledgeable investigated, identified that it was the result of human error on their side, reactivated it without need for anything further from me, and compensated me accordingly. Perhaps I was just unlucky there, but it left a sour taste in the mouth. More important to me is the inferiority of their regular investing service, which cannot be used for cash already in the account.

I've just not had the same transfer problem as you with Fidelity. For example I recently opened a GIA with Fidelity to invest £1k in an Aberdeen money market fund to transfer to BestInvest for another £100 cashback and I submitted the transfer request to Bestinvest on the 29th March and the asset completed transferring today so an excellent service from both of them.
I agree it's annoying that Fidelity, HL, and others don't let you do regular investing from the cash balance but my Fidelity SIPP is just a static VEVE holding so other than auto divi reinvestment I don't ever trade in it anyway. I haven't transferred any money into the account for years it's just piling up in my sal sac workplace scheme.

masonic said:

In contrast, AJ Bell has built up quite a bit of credit on the CS side by doing an outstanding job of resolving an issue during one time transfer of my HTB ISA into my LISA, where the other provider appeared to be labouring under some misapprehensions about the rules. It was an occasion where I did not have to quote chapter and verse from the ISA regs, as AJ Bell proactively dealt with it for me.

AJ Bell took about 6 months to resolve the issue with HMRC where my LISA bonus claims were being rejected as HL had told HMRC that the account had been closed not transferred-out. If I hadn't chased AJ Bell it would have taken longer. It was only when by chance I spoke to someone that was capable of understanding the issue that it moved quickly. Before that I was speaking to no hopers at AJ Bell out of their depth as it was beyond their normal process.

masonic said:

It just goes to show how these personal experiences can colour our views of the companies concerned.

Yup.

masonic said:

I'm interested to understand why transferring your SIPP to a new provider might impact the age at which you could access it.

There's a thread in the pensions forum on the age 55 access that has been running for several years and basically the quality of information about this new protection is very poor in relation to transfers and the industry seems to be waiting on government to provide further guidance. I don't know of any low cost SIPPs that would yet take on a customer while preserving the age 55 protection. When you transfer into a pension scheme you are accepting the rules of the new scheme regarding access age so you risk accepting a later access age.