Iweb

masonic

Matt_22 said:

ColdIron said:

Matt_22 said:

I am thinking of transferring to iweb as it has no holding charges.

Make sure that they have the funds/shares that you have (or acceptable alternatives) before you pull the trigger

You should be fine with most mainstream products but some platforms offer discounted classes of open ended funds that IWeb may not offer

If you don't it can complicate and delay the transfer process

Edit: IWeb have no custody charges for ISAs or GIAs but they do charge for SIPPs

Thanks I will need to check the fund charges from the funds them self are similar to what the funds are charging through other my current providers. As I think these can vary?

Sometimes there are special unit classes with slightly lower charges that are exclusive to one or a few platforms, but this is not very common. If you use the ISIN to compare, then if you find a match at iWeb, then you can be assured the charges will be the same.

ColdIron

SlimPlodder said:

Reading the iWeb literature I had the understanding that they treat ETFs as funds, and levy annual holding charges on them. Is my understanding correct?

No

IWeb have no 'annual holding charges' for funds or ETFs. You may incur some additional charges centred around trading, government levies etc but most people do not, see 'Additional trading charges' in the link

https://www.iweb-sharedealing.co.uk/charges.html

Perhaps you could tell us what it was you read, ideally with a link

silvercue

Matt_22 said:

Does anyone use this as a stocks and shares ISA platform. I have 200k in stocks and share so the holding charges of 0.25 or 0.35 add up. I am thinking of transferring to iweb as it has no holding charges.

I use IWEB for S&S ISA.  I also have a Moneyfarm ISA, which comes with a lot more fees. 

This year I am comparing performance (from 6th April) and my Iweb outperforms Moneyfarm.  Obviously that is not the whole story and there are so many variables, but Moneyfarm has had pretty poor returns for the last 3 years and the very low fees on Iweb are great IMO.

Matt_22

masonic said:

Matt_22 said:

ColdIron said:

Matt_22 said:

I am thinking of transferring to iweb as it has no holding charges.

Make sure that they have the funds/shares that you have (or acceptable alternatives) before you pull the trigger

You should be fine with most mainstream products but some platforms offer discounted classes of open ended funds that IWeb may not offer

If you don't it can complicate and delay the transfer process

Edit: IWeb have no custody charges for ISAs or GIAs but they do charge for SIPPs

Thanks I will need to check the fund charges from the funds them self are similar to what the funds are charging through other my current providers. As I think these can vary?

Sometimes there are special unit classes with slightly lower charges that are exclusive to one or a few platforms, but this is not very common. If you use the ISIN to compare, then if you find a match at iWeb, then you can be assured the charges will be the same.

Thanks yes they are similar
So should be a good idea to transfer to them. 
I guess my current providers will have a transfer out cost?

masonic

Matt_22 said:

masonic said:

Matt_22 said:

ColdIron said:

Matt_22 said:

I am thinking of transferring to iweb as it has no holding charges.

Make sure that they have the funds/shares that you have (or acceptable alternatives) before you pull the trigger

You should be fine with most mainstream products but some platforms offer discounted classes of open ended funds that IWeb may not offer

If you don't it can complicate and delay the transfer process

Edit: IWeb have no custody charges for ISAs or GIAs but they do charge for SIPPs

Thanks I will need to check the fund charges from the funds them self are similar to what the funds are charging through other my current providers. As I think these can vary?

Sometimes there are special unit classes with slightly lower charges that are exclusive to one or a few platforms, but this is not very common. If you use the ISIN to compare, then if you find a match at iWeb, then you can be assured the charges will be the same.

Thanks yes they are similar
So should be a good idea to transfer to them. 
I guess my current providers will have a transfer out cost?

Not necessarily. A lot of providers have dropped their exit fees,  but you'd need to check on your provider's fees pages.

ColdIron

silvercue said:

Matt_22 said:

Does anyone use this as a stocks and shares ISA platform. I have 200k in stocks and share so the holding charges of 0.25 or 0.35 add up. I am thinking of transferring to iweb as it has no holding charges.

This year I am comparing performance (from 6th April) and my Iweb outperforms Moneyfarm.

IWeb and Moneyfarm do not 'perform', the investments within them perform

What you are doing is comparing a Tesco shopping trolley with a Sainsbury one and concluding that a Tesco shopping trolley is more nutritious

Matt_22

They have all my holdings I think. Bar one which is. Polar Capital technology fund; IE00B42W4J83. 
 I have 7k in this

Matt_22

What would I have to do here sell that?

masonic

Matt_22 said:

What would I have to do here sell that?

It would be sold automatically and transferred as cash as part of the transfer. It looks like there is a UK investment trust of the same name that could be used instead. I have not looked into how similar it is to the offshore fund you currently hold, and it would come with additional considerations, such as the ability to trade at a discount or premium to NAV.

Matt_22

Ah yeah I did notice that. Ah is that what happens if you transferred and they didn't have the fund they would just sell? Thank you