Would you recommend iWeb or is there better alternatives?

maz_hartley

my will be transferring his s&s isa to a cheaper fixed fee platform. Looking at iWeb but does anyone recommend it? Do they charge the one off fee of £100 when you sign upto join as I was thinking of signing up so I could have a nosey. Also can't see to find any pictures of the iWeb portfolio interface to get an overview of what it's like and can't seem to find anything online. Also it would be helpful if anyone has any preferences for othe platforms you think are better that charge zero or flat rate management fees. He will choose his own fund that he can pay into monthly and manag itself.

jimjames

I've been with iWeb for many years and am very happy. It's not perfect, their portfolio analysis tools are poor but in terms of a platform for long term buy and hold you can't beat it in my view.

They were doing an offer where you can join for free if you transfer in an ISA worth £5000 or more.

Bear in mind if you are paying in monthly you will incur £5 charge every time you buy or sell so it depends on the size of the holdings whether that's a good amount or not.

Sea_Shell

Just make sure that they have exactly the same share or fund class that you currently hold elsewhere. As their FAQs might SAY that they can do class converstion transfers, in reality they can't (or they blame your current provider) and the transfer falls over.

Other than that…no, i've not had any problems. 😉

maz_hartley

https://forums.moneysavingexpert.com/discussion/comment/80028783#Comment_80028783

not sure what is meant by same share or fund class being a novice. He currently has a 'Aviva Investors Multi-Asset Plus III 2 Acc' that he wants to transfer across and will be investing in either the vanguard lifestrategy 80% or the HSBC global strategy dynamic fund.

maz_hartley

https://forums.moneysavingexpert.com/discussion/comment/80028746#Comment_80028746

can you explain more about the £5 monthly charge being a novice. So I take it if he pays in monthly there will just be a £5 monthly fee hence £60 a year. Yet there won't be any selling fees as he won't be selling any as it's a managed fund, am I right?

macgyver

I-Web charges a fee of £5 everytime you sell or buy a fund. No other fee.

I have been with I-web for 10 years and very happy as my strategy is buy and keep it invested for long term.

Hope it

jimjames

https://forums.moneysavingexpert.com/discussion/comment/80028916#Comment_80028916

If he's a novice I assume that means he doesn't have an existing portfolio to transfer over. If that's the case then iWeb is not a great option and there are much more suitable platforms that don't charge for monthly savings (presumably to an ISA?) iWeb charges £5 per purchase so if he buys 2 different funds in a month it will cost £10 for example.

maz_hartley

https://forums.moneysavingexpert.com/discussion/comment/80029404#Comment_80029404

He does have an existing fund with aviva.co.uk that was set up via a financial advisor.

Albermarle

maz_hartley said:

https:\/\/forums.moneysavingexpert.com\/discussion\/comment\/80028916#Comment_80028916<\/a><\/p>

If he's a novice I assume that means he doesn't have an existing portfolio to transfer over. If that's the case then iWeb is not a great option and there are much more suitable platforms that don't charge for monthly savings (presumably to an ISA?) iWeb charges £5 per purchase so if he buys 2 different funds in a month it will cost £10 for example.<\/p>","bodyRaw":"[{\"type\":\"rich_embed_card\",\"children\":[{\"text\":\"\"}],\"dataSourceType\":\"url\",\"url\":\"https:\/\/forums.moneysavingexpert.com\/discussion\/comment\/80028916#Comment_80028916\",\"embedData\":{\"recordID\":80028916,\"recordType\":\"comment\",\"body\":\"

https:\/\/forums.moneysavingexpert.com\/discussion\/comment\/80028746#Comment_80028746<\/a><\/p>

can you explain more about the £5 monthly charge being a novice. So I take it if he pays in monthly there will just be a £5 monthly fee hence £60 a year. Yet there won't be any selling fees as he won't be selling any as it's a managed fund, am I right?<\/p>\",\"bodyRaw\":\"[{\\\"type\\\":\\\"rich_embed_card\\\",\\\"children\\\":[{\\\"text\\\":\\\"\\\"}],\\\"dataSourceType\\\":\\\"url\\\",\\\"url\\\":\\\"https:\/\/forums.moneysavingexpert.com\/discussion\/comment\/80028746#Comment_80028746\\\",\\\"embedData\\\":{\\\"recordID\\\":80028746,\\\"recordType\\\":\\\"comment\\\",\\\"body\\\":\\\"

I've been with iWeb for many years and am very happy. It's not perfect, their portfolio analysis tools are poor but in terms of a platform for long term buy and hold you can't beat it in my view.<\/p>

They were doing an offer where you can join for free if you transfer in an ISA worth £5000 or more.<\/p>

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https://forums.moneysavingexpert.com/discussion/comment/80029404#Comment_80029404

He does have an existing fund with aviva.co.uk that was set up via a financial advisor.

Yes but he can not transfer this to IWEB . The transfer will have to be in cash. So when the cash arrives he will then need to invest it in the chosen fund(s) . £5 for each buy.
If the market moves significantly during the cash transfer, he could gain or lose out.

The £5 fee is only really an issue if you are buying and selling very regularly. 

Albermarle

Looks like the new forum software still has some bugs in it !

badger09

Albermarle said:

Looks like the new forum software still has some bugs in it !

My nomination for understatement of the year. So far😏