Vanguard new charges - should I stay or should I go? (and where?)

VXman

Heard about changes to Vanguards charging policy and suggestions that it is no longer the best for small investors.

We have 2 accounts (me and the wife). I have a small SIPP and some in a LS.
Total £15000.

She has SIPP and LS 

Total £75000

Should either of us being looking to move to a different platform? If so who and would it be worth the hassle for the possible savings?

Mark_d

You need to compare costs of the different platforms and consider the features provided by the different platforms.  For me, I want to trade in UK shares and ETFs, I want a good mobile app, I want a system that's easy to use and reliable.

jimjames

You might want to look at the existing thread to see various views

https://forums.moneysavingexpert.com/discussion/6574545/vanguard-new-minimum-monthly-account-charge

I've moved to ii and iWeb. Wasn't originally planning to do so as wasn't affected by the changes but ii offered a SIPP switch incentive and it wasn't then viable to leave the ISA.

VXman

jimjames said:

You might want to look at the existing thread to see various views

https://forums.moneysavingexpert.com/discussion/6574545/vanguard-new-minimum-monthly-account-charge

I've moved to ii and iWeb. Wasn't originally planning to do so as wasn't affected by the changes but ii offered a SIPP switch incentive and it wasn't then viable to leave the ISA.

 Will have a read thanks.

Re  Switching -Does that mean selling your investments and re buying or is the new provider able to sort all that? Presumably not all present funds will be available on the new platform?

eskbanker

VXman said:

Re  Switching -Does that mean selling your investments and re buying or is the new provider able to sort all that? Presumably not all present funds will be available on the new platform?

If funds are available on both platforms (as is likely if migrating from Vanguard to another mainstream platform) then it's usually possible to have holdings transferred 'in specie', i.e. without having to sell and repurchase.

jimjames

VXman said:

jimjames said:

You might want to look at the existing thread to see various views

https://forums.moneysavingexpert.com/discussion/6574545/vanguard-new-minimum-monthly-account-charge

I've moved to ii and iWeb. Wasn't originally planning to do so as wasn't affected by the changes but ii offered a SIPP switch incentive and it wasn't then viable to leave the ISA.

Re  Switching -Does that mean selling your investments and re buying or is the new provider able to sort all that? Presumably not all present funds will be available on the new platform?

Vanguard funds are very standard mainstream ones. Only issue will be using a platform that only deal in ETFs or shares when you are holding Vanguard funds. Mine has just been able to transfer without selling anything as the same funds are available at both ends.