Curiosity: why go with (example...) H/Lansdown, St James' Place?

jimjames

I suspect many people with HL and SJP are with them because they don't know there are better/cheaper options out there and think all providers charge the same - or that 0.45% charge is so small it's not worth worrying about.

boingy

I think some people go with St James's Place because they associate it with royalty and St James's Palace.
Then, of course, there are Geordies who think that it's where The Toon play footy. 

GeoffTF

B0bbyEwing said:

For the time being I'm with AJ Bell. I know they charge £1.50 a trade but I don't contribute monthly - my deposits are once per year.

AJ Bell charges £1.50 for dealing open ended funds only. You are being fleeced if hold open ended funds with AJ Bell, unless you have a small account. iWeb is cheaper for all but the smallest accounts.

masonic

GeoffTF said:

B0bbyEwing said:

For the time being I'm with AJ Bell. I know they charge £1.50 a trade but I don't contribute monthly - my deposits are once per year.

AJ Bell charges £1.50 for dealing open ended funds only. You are being fleeced if hold open ended funds with AJ Bell, unless you have a small account. iWeb is cheaper for all but the smallest accounts.

The £1.50 regular investing charge applies also to exchange traded investments. It can be used for one-off buys if you place them at the appropriate time.

B0bbyEwing

jimjames said:

or that 0.45% charge is so small it's not worth worrying about.

When I started out - I was guilty of that.
0.45% (or 0.anything)? That's a tiny number, who cares. 
It was only as time passed & I started reading more & seeing examples of how different fees can stack up that I realised that it's not 'nothing' at all.

boingy said:

and St James's Palace.

Must admit, whenever I type it I more often than not have to delete & re-type because I just typed out Palace


Also regards AJ Bell and large/small accounts, I don't know what people consider large or small but I've 13.5k in my Lifetime ISA which I'd say is typically seen as a small number but isn't small change to me.

April 6th I'll dump £4k in the account, I'll be charged £1.50 & that's it until the next April 6th.

boingy

[Deleted User] said:

Someone who transfers a large pension to HL will get £3,500 cashback at the moment 

"Large" being over £1,000,000.

GeoffTF

B0bbyEwing said:

Also regards AJ Bell and large/small accounts, I don't know what people consider large or small but I've 13.5k in my Lifetime ISA which I'd say is typically seen as a small number but isn't small change to me.

With AJB, you will be paying £13,500*0.25/100 = £33.75 plus £1.50 per year. With iWeb, you would be paying £5 per year. Your account is not small enough to make AJB cheaper. The break even point is £1,400.

masonic

GeoffTF said:

B0bbyEwing said:

Also regards AJ Bell and large/small accounts, I don't know what people consider large or small but I've 13.5k in my Lifetime ISA which I'd say is typically seen as a small number but isn't small change to me.

With AJB, you will be paying £13,500*0.25/100 = £33.75 plus £1.50 per year. With iWeb, you would be paying £5 per year. Your account is not small enough to make AJB cheaper. The break even point is £1,400.

I don't think you can hold a LISA at iWeb. I hold mine at AJ Bell and probably would have moved it if I could.

MacPingu1986

I’ve been with HL for about 15 years as a platform with a S&S ISA, SIPP and general fund & share account.

Hold mostly shares with some funds and have always been very happy, platform works, on rare occasions I’ve had to contact they’ve been good and responsive. Honest answer why I’m still with them is they seemed a safe solid choice 15 years ago and I’ve never changed.

That said perhaps now is a good time to re-evaluate… - any recommendations for platforms with lower holding fees?

TBC15

ColdIron said:

TBC15 said:

For some reason a few people feel comforted having an extra hand in their pocket

Care to expand upon that?

With regard to HL my comment was supposed to be a tongue in cheek bit of sarcasm.

Depending on the composition of your portfolio HL could be an expensive option. That said we do have the wife’s £2880 in £3600 out cash SIPP with HL, so very much a case of horses for courses.

SJP what can you say. Their practices verge on financial masochism.