Isa with HL

da4

Hello,
I have an s&s ISA with HL that ive had for a few years now. Currently have £40k sat in it.

is it worth moving to another provider for the cheaper fees? 

I also have 3 junior ISAs with HL. Not sure if it’s worth moving these or not? 

I have seen that 212 is the cheapest but I know nothing about them. Are they “safe”? I believe they are FCA backed so I’m assuming that if they went “belly up” I would still have the funds / shares that I’ve invested in? They are a mostly Vanguard and L&G funds.

Thanks
Darren

eskbanker

As you've found, it's simple to compare costs across platforms, so you have the quantifiable data about the financial impact of moving and it simply remains a judgement call as to whether you feel it's worth doing.

Cheapest isn't necessarily best of course, but there's certainly plenty of discussion about Trading 212 on these boards if you want to read through some feedback about them....

solidpro

As i've been schooled in this very forum, it's cheaper to have vanguard funds with vanguard's platform than via HL's platform at a higher fee. I then worked out the difference didn't seem worth the hassle. But then again some wag on here will tell me why I'm a fool for thinking that way.

eskbanker

solidpro said:

As i've been schooled in this very forum, it's cheaper to have vanguard funds with vanguard's platform than via HL's platform at a higher fee. I then worked out the difference didn't seem worth the hassle. But then again some wag on here will tell me why I'm a fool for thinking that way.

I won't call you a fool for that, as it's consistent with what I said above, i.e. cheapest isn't necessarily best.

However, the devil is in the detail, and HL are quite cost-effective for those with substantial ETF holdings, due to the capped charge for these - OP just refers to 'funds', which is generally shorthand for OEICs rather than ETFs (despite the F in the latter standing for 'fund'!), but also mentions a mix of 'mostly' Vanguard and L&G products, so Vanguard's platform is only useful for the former, i.e. it's irrelevant if it's cheaper than HL if it doesn't accommodate OP's desired investments.

Grenage

I believe 212 only able cash transfers of investment ISAs at the moment.  Should be open to new customers by the new year. 

wmb194

da4 said:

Hello,
I have an s&s ISA with HL that ive had for a few years now. Currently have £40k sat in it.

is it worth moving to another provider for the cheaper fees? 

I also have 3 junior ISAs with HL. Not sure if it’s worth moving these or not? 

I have seen that 212 is the cheapest but I know nothing about them. Are they “safe”? I believe they are FCA backed so I’m assuming that if they went “belly up” I would still have the funds / shares that I’ve invested in? They are a mostly Vanguard and L&G funds.

Thanks
Darren

When you say, "funds" do you mean Oeics? Trading212 currently only offers ETFs, Investment Trusts and shares in individual companies.

Beddie

£40k in funds with HL costs £180 a year at 0.45%. You can pay less at other providers, but you might decide it's not worth moving. Some on here would move to save 50p!

I pay £40 a year flat fee to Lloyds Bank, I moved to them from HL to save on fees on a higher amount. Buying or selling funds is £1.50. iWeb, another Lloyds brand, is free, but £5 to trade, so another good choice.
Vanguard are good value for you too at 0.15%, if you only want to use their funds.

Trading 212 are super cheap, as above they don't do funds, but they do have shares, ETFs and investment trusts.

mika_dm

HL has a max £45 fee/year if you hold : ETFs, Shares, GILTs, ITs. The 0.45% fee with no cap applies only to funds OEICs.

MX5huggy

HL charge no platform fee for the JISA’s so it’s unlikely you’ll get a better deal elsewhere. 

Reminds me I should move the JISA I have with Vanguard to HL but 0.15% is such a small amount. 

Albermarle

MX5huggy said:

HL charge no platform fee for the JISA’s so it’s unlikely you’ll get a better deal elsewhere. 

Reminds me I should move the JISA I have with Vanguard to HL but 0.15% is such a small amount. 

Careful you might get banned for such hearsay on MSE 

eskbanker

Albermarle said:

MX5huggy said:

HL charge no platform fee for the JISA’s so it’s unlikely you’ll get a better deal elsewhere. 

Reminds me I should move the JISA I have with Vanguard to HL but 0.15% is such a small amount. 

Careful you might get banned for such hearsay on MSE 

It's not hearsay though, it's verifiably true!  Heresy perhaps....