Is II a no brainer

MetaPhysical

Sorry for the slight OT....  The new II fee structure does not include an ISA does it?  Only kids ISAs?

jimjames

SouthCoastBoy said:

I'm thinking of moving as well, would be interested if anyone has used ii  and their experiences.

I've been with ii for around 18 months, very happy with the service and cost even though it will be slightly increasing with the changes.

maxmarioxx

MetaPhysical said:

Sorry for the slight OT....  The new II fee structure does not include an ISA does it?  Only kids ISAs?

It does include ISAs. Basically you now get all accounts for the the plan you choose - full charges on their site below:
ii.co.uk/our-charges/new-pricing

MetaPhysical

It doesn't spell out if the ISA and TA are unlimited in terms of the amount you can hold in them.  Because they haven't been called out I assume they are unlimited.

maxmarioxx

MetaPhysical said:

It doesn't spell out if the ISA and TA are unlimited in terms of the amount you can hold in them.  Because they haven't been called out I assume they are unlimited.

They do on their charges page ii.co.uk/our-charges/new-pricing

UncleTomCobley

NormalNorman said:

blue_eyes said:

it's possible to cap your HL sipp at £200 pa if you're happy to stick to investing in ETFs/ITs as well as gilts bonds shares. It's only funds that are uncapped, though you can hold funds as well you'll just pay the charge for them separately.
https://www.hl.co.uk/pensions/sipp/charges-and-interest-rates
Although I think if you go to drawdown then you have two sipp accounts that may be £200 on each SIPP account 

Fidelity on the other hand cap is £90 pa/7.50 pm but across all of your accounts combined [SIPPs/ISA/GIA] on similar instruments [e.g. ETFs]  so despite a large pot size there are ways to keep fees down, if you are happy with exchange traded instruments as suitable proxies/equivalents for your current investments/strategy
https://www.fidelity.co.uk/services/charges-fees/

Yeah, both our SIPPs were with HL sticking to ETFs to cap the fees. Recently switched to ii for cheaper fees especially for drawdown when the fees could double. The switch was inspecies and very fast. Even the £200 incentive was paid quickly. The HL app is nicer but really bothered atm as likely to be updated in the future.

I never could figure why HL (and others) charged so much for just holding "normal/non ETF" funds (I calculated it was up to £4,000 for HL) whereas ETFs were capped at £200. I'm thinking it's just some lines on ledgers (sub-registers if you want) - it's not like they are liable for the assets themselves.

Anyway, hopefully the ii change will help sharpen other platforms' fees as I look to move from HL and its current ever so slow SIPP withdrawals times.

maxmarioxx

UncleTomCobley said:

I never could figure why HL (and others) charged so much for just holding "normal/non ETF" funds (I calculated it was up to £4,000 for HL) whereas ETFs were capped at £200. I'm thinking it's just some lines on ledgers (sub-registers if you want) - it's not like they are liable for the assets themselves.

Anyway, hopefully the ii change will help sharpen other platforms' fees as I look to move from HL and its current ever so slow SIPP withdrawals times.

Can I ask how long does it take to make withdrawals with HL.I believe with ii it's 5 to 10 days from what I've read on other threads.

UncleTomCobley

maxmarioxx said:

UncleTomCobley said:

I never could figure why HL (and others) charged so much for just holding "normal/non ETF" funds (I calculated it was up to £4,000 for HL) whereas ETFs were capped at £200. I'm thinking it's just some lines on ledgers (sub-registers if you want) - it's not like they are liable for the assets themselves.

Anyway, hopefully the ii change will help sharpen other platforms' fees as I look to move from HL and its current ever so slow SIPP withdrawals times.

Can I ask how long does it take to make withdrawals with HL.I believe with ii it's 5 to 10 days from what I've read on other threads.

At the moment and for me, ages - there is another thread running on this =>  https://forums.moneysavingexpert.com/discussion/6644836/timescale-to-move-from-sipp-to-drawdown-ac-with-hargreaves-lansdown#latest

Alexland

UncleTomCobley said:

I never could figure why HL (and others) charged so much for just holding "normal/non ETF" funds (I calculated it was up to £4,000 for HL) whereas ETFs were capped at £200. I'm thinking it's just some lines on ledgers (sub-registers if you want) - it's not like they are liable for the assets themselves.

It's simple - HL charge so much on larger OEIC fund holdings because enough people are willing to pay it.

Scottish Widows (formerly iWeb) show it's possible to hold OEIC funds for no ongoing charge (in an ISA wrapper at least) in the expectation of the customer placing a few £5 trades. Even running a SIPP wrapper for people doesn't cost much more certainly not thousands when you have the economies of scale of HL.

It's just where HL make their big profit margins.

It's cross-subsidising the operation of the smaller accounts and free kids accounts.

UncleTomCobley

Indeed, hopefully, in time, more platforms will follow the ii and iWeb/Scottish Widows (where my one non ETF fund sits)  pricing models. 

Amongst other things, it may mean my ISA can join my peripatetic SIPP in its cashback travels.