Having all money with one brokerage or multiple brokerages for stock investment?

Gsaver1

More than one brokerage (for each ISA and non-ISA accounts). Admin work is nothing compared to the ease of mind if the brokerage goes bankrupt or wind down.

If you have money in a STMMF is it best to stay below the £85k or seeing as this is a fund you would be covered if a failure was to happen? 

I use more than one provider.

Albermarle

More than one brokerage (for each ISA and non-ISA accounts). Admin work is nothing compared to the ease of mind if the brokerage goes bankrupt or wind down.

thenewcomer said:

Albermarle said:

I have three pension pots with different providers. Used to be 6, will probably eventually be two. Two lots of cashback in the process.

I had one S&S ISA , then transferred to a new provider ( with cashback) and now two new providers ( due to cashback offers ). Probably change again at some point.

All well known/mainstream providers.

Thank you for sharing. Who are the providers that you are with for the cashback offers? 
One of my financial goals for this year is to get more cashback. 

Cashback offers are usually only for a fixed period ( say 3 months ) so it depends what is available at the time.
Fidelity seem to have the most regular offers and AFAIK, theirs is the only significant one on current offer.
HL had some very good cashbacks in 23/24 before they were sold, but the latest offer was only to selected customers.
@artyboy is King of the cashbacks, so maybe he can comment. 

thenewcomer

More than one brokerage (for each ISA and non-ISA accounts). Admin work is nothing compared to the ease of mind if the brokerage goes bankrupt or wind down.

@artyboy Hi guru. Please could you advice on cashback for stocks and shares platforms now? Thank you.

wmb194

thenewcomer said:

@artyboy Hi guru. Please could you advice on cashback for stocks and shares platforms now? Thank you.

Obviously you can also go direct to providers' websites but have a look at Topcashback and Quidco in the savings, investments and finance categories. Reddit's another place to look.

https://www.topcashback.co.uk/category/isas-and-savings/

https://www.quidco.com/category/finance/

https://www.reddit.com/r/beermoneyuk/

Nebulous2

I found a website listing cashback offers, but I don't have the details to hand. There were fairly slim pickings when I looked 2-3 weeks ago. II and Charles Stanley are the only ones I can recall. I'm waiting for my SIPP to be transferred to Charles Stanley, and I also intend using the referral offer for my wife to transfer her ISA to them. 

Cashback with Charles Stanley is only paid 12 months after the transfer. 

artyboy

Albermarle said:

thenewcomer said:

Albermarle said:

I have three pension pots with different providers. Used to be 6, will probably eventually be two. Two lots of cashback in the process.

I had one S&S ISA , then transferred to a new provider ( with cashback) and now two new providers ( due to cashback offers ). Probably change again at some point.

All well known/mainstream providers.

Thank you for sharing. Who are the providers that you are with for the cashback offers? 
One of my financial goals for this year is to get more cashback. 

Cashback offers are usually only for a fixed period ( say 3 months ) so it depends what is available at the time.
Fidelity seem to have the most regular offers and AFAIK, theirs is the only significant one on current offer.
HL had some very good cashbacks in 23/24 before they were sold, but the latest offer was only to selected customers.
@artyboy is King of the cashbacks, so maybe he can comment. 

Just seen this. Gosh, I'm blushing 

Anyway @thenewcomer as has been mentioned, it is slim pickings at the moment. In past years this is about peak season for good deals, but as @Albermarle had suggested/predicted in the past, the party might be coming to an end. There was a targeted offer from HL recently, but I didn't get it (I've had the best part of 5k out of them in prior years so I suspect my card is marked).

The Robos are offering decent amounts if that's your thing - Nutmeg will pay 1% on transfers in up to 500k (and you might be able to stack that with the £100 that TCB is offering), but fees will eat that up quickly enough, so you have to want the product.

Ditto Moneyfarm - both Quidco and TCB have various cashback tiers that can be worth over 2% on what you transfer.

Charles Stanley was mentioned already, but note they sneakily changed their platform fee cap last year - if you were holding shares/ETFs only, it went up from £20 to £50 per month. Their cashback has a 1 year minimum hold period, so I'd only play that game now if I were transferring in £200k or more, because that gives you a 6 month fee waiver on top of the £1500 cashback.

I've not really looked much further recently as my pensions and ISAs are all tied up till June from previous offers, so it's possible there are other options out there!

Full disclosure as well: nearly all my cashback has come from moving pensions around, and I'm fortunate to have a number of large DC pots to play with, which is why I see it as being so lucrative!

Albermarle

More than one brokerage (for each ISA and non-ISA accounts). Admin work is nothing compared to the ease of mind if the brokerage goes bankrupt or wind down.

Nebulous2 said:

I found a website listing cashback offers, but I don't have the details to hand. There were fairly slim pickings when I looked 2-3 weeks ago. II and Charles Stanley are the only ones I can recall. I'm waiting for my SIPP to be transferred to Charles Stanley, and I also intend using the referral offer for my wife to transfer her ISA to them. 

Cashback with Charles Stanley is only paid 12 months after the transfer. 

This is a live offer for ISA's and SIPP's

ISA Transfer | Transfer an ISA to Fidelity

Nebulous2

Albermarle said:

Nebulous2 said:

I found a website listing cashback offers, but I don't have the details to hand. There were fairly slim pickings when I looked 2-3 weeks ago. II and Charles Stanley are the only ones I can recall. I'm waiting for my SIPP to be transferred to Charles Stanley, and I also intend using the referral offer for my wife to transfer her ISA to them. 

Cashback with Charles Stanley is only paid 12 months after the transfer. 

This is a live offer for ISA's and SIPP's

ISA Transfer | Transfer an ISA to Fidelity

Thanks, we are both with Fidelity already, which is why I ignored that one. 

Nebulous2

Just to give an update on the cashback situation, if anybody is interested. I don't deal in the sums of money that some people on here have, so I'm looking at smaller amounts of cashback. 

I have a SIPP with just over £30k in cash and opened an account with Charles Stanley to transfer it in, which will qualify for £300 cashback. Opening that account gave me a referral code and I referred my wife who is transferring across an ISA which is sitting at just over £50k. That qualifies for £600 cashback and a £250 referral fee for me. 

So £1150 cashback for transferring just over £80k. With fees of 0.3% and the need to stay a year that will be about £250 in fees leaving about £900 net. 

I'm impressed with that, and struggle to see that it can make sense for the brokerage, but gift horses and all that.....