New HL fee structure from 01/03/26

redux

https://forums.moneysavingexpert.com/discussion/comment/81915243#Comment_81915243

I don't know what counts as loyalty. In my opinion concepts like respect should operate in both directions, and this strikes me as a pretty slow response, and which risks further alienating any non-selected customers who hear about it

For me, I have a lot less than there than I used to. Apart from my own savings there I had transfers in when various investment trust managers closed their own savings schemes, but now there is only about £300 left. I've added £1 cash and can afford the about 9 pence a month fees while I make up my mind for longer term

phlebas192

Last week my wife got a cashback offer of up to £5k for transferring £1m to her ISA. She doesn't have other ISAs to transfer but it includes new cash deposits and it is £200 for £20k so that would cover the next year's fees (there's a tie in to the end of Feb 2027).

Chloe_G

https://forums.moneysavingexpert.com/discussion/comment/81915316#Comment_81915316

Yes, I got that offer as well.

Rollinghome

Mrs R has just transferred out her HL ISA for (the bulk has been with Iweb for years) but didn't get any begging letters from them. We already get the 0.25% concession which is worthless anyway unless investing in funds - it's the caps that determine the cost.

We were just about to transfer out anyway after 19 years with them. There's loyalty and there's stupidity: it's a long way short of the premium company it once was. Their Danny Cox once described it as Waitrose prices for Waitrose service. Don't think even he would say the same now. I'll be transferring out when HL sort out their problems with SSON.

olderbutnowiser

https://forums.moneysavingexpert.com/discussion/comment/81915257#Comment_81915257

I was also given the one year GIA concession, the reason being I had a gilt that was shortly due for redemption.

I always thought that this was an odd reason and maybe it was an initial shortcut to reach those with larger holdings. Maybe the latest concessions are for other clients with largish holdings who missed out because they didn't hold gilts? Overall though they have dropped a clanger IMO.

masonic

I think they've calculated the fallout and it will be within their appetite. Those of us making the most of the fee cap will be in a fairly small minority. Finding obscure justifications to make exceptions allows them to deal with potential voices of dissent without setting broad precedents.

I've received confirmation that the final cash balance is now transferred and I no longer have any visible accounts, ahead of the first charging point for the new fees. I ended up splitting up my S&S ISA, between two new no-fee providers and my existing SWSD ISA. All was very efficient and problem-free.

olderbutnowiser

I've decided to stay put for now, mainly because I'm not keen on unnecessary changes and the extra fees pail into insignificance when compared to my losses over the last week or so!

If there is one thing that might make me change is the way they treat inflation-linked gilts. Having to deal on the phone is annoying enough (although I've always found the dealers helpful) but the website does not show the inflation-adjusted price so that the holding shows in your account as an immediate loss of possibly 30-40% depending on how long ago the gilt was issued. It can't be difficult to sort this out, AJ Bell can do it, so no reason HL can't. Rant over.

masonic

https://forums.moneysavingexpert.com/discussion/comment/81931835#Comment_81931835

It is nice to get the correct dirty price from AJ Bell, but once you've set up a spreadsheet to do the clean → dirty conversion for you it is a limited benefit. While AJ Bell do show the correct price online, I would note that on two occasions now they have mischarged me and had to come to me cap in hand because they forgot to add accrued interest and/or index linking to the price they charged me on the day (they needed to collect extra money and reissue my contract note when the trade settled for an amount above their expectations).

olderbutnowiser

https://forums.moneysavingexpert.com/discussion/comment/81931845#Comment_81931845

Thanks masonic, good to know the opposition aren't perfect.

DRS1

Those of us making the most of the fee cap will be in a fairly small minority.

@masonic I may have miscalculated but I thought you hit the cap with assets of c £45k. I would have thought quite a lot of people would have that (in an ISA or SIPP at least).