IWeb - who's using them?

Aminatidi

I currently use Vanguard and HL and I noticed IWeb are offering no setup fees on new accounts.

I'm moving toward an increasingly simplified set of investments of a global tracker in an ISA and probably individual gilts in an unwrapped account.

IWeb appeals as the dealing fees are low but the website always looks like something from the 1990s.

Is there any key functionality missing?

dealyboy

I use iWeb for my S&S ISA buy and forget multi asset funds, can't remember when I last bought some.

I wouldn't worry if it looks old, I'm from the 1950s and fully functional.

RHale

I do. I have had it for awhile. The website has been recently revamped though.

ColdIron

The UI is dated but it all works

There is no monthly investment option. No app

Do check that IWeb have the investments you want, their selection is a little smaller than others but should cover all the major choices

The annual fee for your gilts would probably not be cheaper than the HL Fund and Share account. Both are free, but dealing for £5 rather than £11.95. But then, how often will you be buying them?

£0 annual fee for OEICs is hard to beat. Never mind the quality, feel the width. Saves me nearly £1,000 pa over HL for funds

Futuristic

Aminatidi said:

I currently use Vanguard and HL and I noticed IWeb are offering no setup fees on new accounts.

I'm moving toward an increasingly simplified set of investments of a global tracker in an ISA and probably individual gilts in an unwrapped account.

IWeb appeals as the dealing fees are low but the website always looks like something from the 1990s.

Is there any key functionality missing?

It doesn't have fancy UI/app like HL, portfolio tracking etc. But does everything you really need to buy and forget like trackers. It's owned by Lloyds and customer service is good too. They updated their website recently to be a bit more modern so maybe the UI will be next.

xylophone

I have used iweb for ISA for a few years now and am quite happy with it.

london21

I have Iweb for my ISA funds and happy with it.

Was paying higher fees when I was with HL.

Here set up was £100 and got the £100 back. 

Aminatidi

ColdIron said:

The UI is dated but it all works

There is no monthly investment option. No app

Do check that IWeb have the investments you want, their selection is a little smaller than others but should cover all the major choices

The annual fee for your gilts would probably not be cheaper than the HL Fund and Share account. Both are free, but dealing for £5 rather than £11.95. But then, how often will you be buying them?

£0 annual fee for OEICs is hard to beat. Never mind the quality, feel the width. Saves me nearly £1,000 pa over HL for funds

Thanks to everyone so far

Don't really care about an app or monthly investment and agreed the selection is a little smaller but in a funny way that has been one positive over using the Vanguard platform in that it stops the temptation to tinker.

Likewise fees aren't a huge deal on gilts or anything other than funds if held unwrapped on HL.

Long story short sometimes I find a platform changes/modifies my behaviour so sometimes it's as much a psychological thing as it is actual £££ in platform fees 👍🏻

cloud_dog

Been with iWeb for years.  They are one of our buy and hold accounts/providers, and we carryout a transaction (buy) c. once a year.

The UI is dated but TBH I cannot remember the last time I logged in

talexuser

I've used them for many years on ISA and Unwrapped account and have literally saved thousands compared with previous % fee platform. Selection is fine, enough trackers, trusts and funds I would ever need, my only gripe is the new funds centre search which is poor if you don't have the exact description they have in the database. Try searching for gilts for example. 

Rollinghome

I stopped putting new money into HL and started using Iweb in 2011 and couldn't believe my luck.  I left our existing ISAs and SIPPS with HL to get dusty, partly through laziness, and partly because they gave us a discounted rate.  Just moved our Fidelity/Cavendish accounts and small bits we had elsewhere.

If I had to choose one or the other I think I'd choose Iweb even if the costs were the same.  Never had a single problem in that time with Iweb but HL seem to be falling apart. It's now far from the "the Waitrose service" Danny Cox once claimed to justify its fees. Only positive I can think of for HL would be ease of switching for funds. 

With Iweb I like that whatever I buy the fee is the same, stock, fund, or ETF, so none of those calculations. Oldie worldie it may look, but I find the accounting system much easier on Iweb.