Combining portfolio

Hi I have 100k in a stocks and shares ISA with Charles Stanley and 100k.with AJ bell. Would it be beneficial to combine the two and stock one account down? Thanks

Comments

  • tacpot12
    tacpot12 Posts: 7,830
    First Anniversary Name Dropper First Post
    Forumite
    It might be if the charges were much cheaper with one than the other.

    Once you start to rely on drawing from your ISA, perhaps because you have retired, there is more benefit to having two separate accounts as it protects you from the occasional IT meltdown that would otherwise delay your income arriving on time.  
    The comments I post are my personal opinion. While I try to check everything is correct before posting, I can and do make mistakes, so always try to check official information sources before relying on my posts.
  • Beddie
    Beddie Posts: 558
    First Post Name Dropper First Anniversary Combo Breaker
    Forumite
    You would save more money moving them both to a fixed price broker. Iweb has no annual charges, Halifax under £100 a year, there are several others. I'm sure someone else will come along with a list.

    Look at how much you are paying per year in platform charges (fund charges will be about the same wherever you go) and decide if it's worth moving.
  • frugalmacdugal
    frugalmacdugal Posts: 10,077
    Name Dropper First Post Photogenic First Anniversary
    Forumite
    edited 19 November 2023 at 3:54PM
    Hi.
    IWeb, save £100, no sign up fee, HERE.
  • Matt_22
    Matt_22 Posts: 256
    Name Dropper First Post First Anniversary Combo Breaker
    Forumite
    Charles Stanley charges  0.35. AJ bell charges 0.25.  
  • jimjames
    jimjames Posts: 17,482
    Photogenic Name Dropper First Anniversary First Post
    Forumite
    Matt_22 said:
    Charles Stanley charges  0.35. AJ bell charges 0.25.  
    And iWeb charge nothing so moving them both will save you £250+£350 per year
    Remember the saying: if it looks too good to be true it almost certainly is.
  • Matt_22
    Matt_22 Posts: 256
    Name Dropper First Post First Anniversary Combo Breaker
    Forumite
    jimjames said:
    Matt_22 said:
    Charles Stanley charges  0.35. AJ bell charges 0.25.  
    And iWeb charge nothing so moving them both will save you £250+£350 per year
    How do they make there money then?
  • Beddie
    Beddie Posts: 558
    First Post Name Dropper First Anniversary Combo Breaker
    Forumite
    Matt_22 said:
    jimjames said:
    Matt_22 said:
    Charles Stanley charges  0.35. AJ bell charges 0.25.  
    And iWeb charge nothing so moving them both will save you £250+£350 per year
    How do they make there money then?
    They charge for buying and selling funds, shares etc. All the details are on their web pages.
  • Matt_22
    Matt_22 Posts: 256
    Name Dropper First Post First Anniversary Combo Breaker
    Forumite
    Thanks I think it's £5 to buy a fund. But no holding charge this will still work out cheaper as I will presently be paying around £500 a year in holding fees. I web are part of Llyods group so quiet safe?
  • Beddie
    Beddie Posts: 558
    First Post Name Dropper First Anniversary Combo Breaker
    Forumite
    Yes, they are part of Lloyds Bank and very safe to use.
Meet your Ambassadors

Categories

  • All Categories
  • 341.6K Banking & Borrowing
  • 249.7K Reduce Debt & Boost Income
  • 449.1K Spending & Discounts
  • 233.7K Work, Benefits & Business
  • 605.8K Mortgages, Homes & Bills
  • 172.4K Life & Family
  • 246.6K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.8K Discuss & Feedback
  • 15.1K Coronavirus Support Boards