S&S ISA - advice needed

StarShapedPeg

Hello
I read with dismay that Vanguard are increasing their fees to hold a S&S ISA. I have a little less than £20k invested in Vanguard LifeStrategy 80 and invest about a £100/month currently. I moved my ISA previously from CSD to vanguard as it was cheaper, soon it won’t be. Could you advise which platform will be cheaper? I looked at iWeb but they charge £5/buy and I buy 12x a year 🙄
Thanks 🙏 

Eyeful

1. :Look through the various platform fees here:
https://monevator.com/compare-uk-cheapest-online-brokers/

2. Try using this tool:
https://www.comparefundplatforms.com/

Alexland

StarShapedPeg said:

Hello
I read with dismay that Vanguard are increasing their fees to hold a S&S ISA. I have a little less than £20k invested in Vanguard LifeStrategy 80 and invest about a £100/month currently. I moved my ISA previously from CSD to vanguard as it was cheaper, soon it won’t be. Could you advise which platform will be cheaper? I looked at iWeb but they charge £5/buy and I buy 12x a year 🙄
Thanks 🙏 

Dodl (from AJ Bell) charge the same 0.15% as Vanguard and have VLS80 as a fund option and charge a minimum of £1 per month. By my maths you are currently paying around £2.50 per month. So you can either stay with Vanguard and the fee will increase to the £4 pm minimum or you can transfer the investment to Dodl and the price will stay the same as you were paying as you are already above their minimum.

Or you could transfer the existing ISA investment to iWeb where you would pay nothing (as the money is already invested unless you have the income version and trade to reinvest dividends) and do all your new investments into a new Dodl ISA where you would just pay the £1 pm minimum until the account gets bigger again when you could move it to your iWeb account etc.

Albermarle

By my maths you are currently paying around £2.50 per month. So you can either stay with Vanguard and the fee will increase to the £4 pm minimum 

OP based on the above your platform fees with Vanguard will increase by £18 pa to £48 pa.
This figure will not change as you add more each month up until you have £32 K + no fees for each monthly investment.
Only you can decide whether it is worth moving for that amount. From other threads transfers out of Vanguard seem to be very slow at the moment. Their customer service was never that responsive, but now they are probably swamped with requests.
It seem quite a lot of people think the £4 a month is extra on top of what they already pay, whilst it is in fact 'only' a minimum charge.

Alexland

Even if Vanguard hadn't introduced the minimum then I would still be tight enough to move a £20k lump sum to iWeb and start again somewhere else. Even if there is a big queue it shouldn't matter if they are doing an in specie transfer with no time out of the market provided it happens eventually it should be fine doesn't even need chasing really. Having an iweb account is a very useful thing long term. Some of us originally paid £100 to open our accounts and now they are giving them away.