New HL fee structure from 01/03/26

masonic

https://forums.moneysavingexpert.com/discussion/comment/81932038#Comment_81932038

I did hit the cap in both my SIPP and ISA. The SIPP (worth around £250k when I moved it away last year) was the first to go, before any changes to the charging structure were announced. My S&S ISA was worth £360k when the changes were announced. Hence those of "us".

I was not offered any special rate.

I think many of those with >£45k of assets would have held most in OEICs or UTs, which would have been exempt from the cap.

DRS1

https://forums.moneysavingexpert.com/discussion/comment/81932058#Comment_81932058

I am now confused. Under the old charging structure OEICS and UTs attracted a charge didn't they? I am not sure what you mean by exempt from the cap? Were those charges uncapped? I can't remember. Doesn't the £150 cap NOW apply to them as well as shares?

I confess I come at this from the point of view of thinking about moving to SWSD but finding there are some investments which SWSD may not take. I worked out that if they came to more than £45k there was probably no pint moving anything from HL to SWSD as I'd have a rump at HL which on its own got charged the capped amount of £150.

masonic

https://forums.moneysavingexpert.com/discussion/comment/81932088#Comment_81932088

As far as I understand, only exchange traded investments are included in the legacy £45 cap for S&S ISA. If you hold other investments, then you were subject to 0.45% up to £250k (£1,125), with the new charges being lower… https://www.hl.co.uk/investment-services/isa/savings-interest-rates-and-charges

For the F&S account (which I did not have), the legacy platform fee was zero for exchange traded investments and 0.45% for other investments, now 0.35% up to £250k … https://www.hl.co.uk/investment-services/fund-and-share-account/charges-and-interest-rates

So if you just held ETFs / ITs / shares, the previous caps saved you a lot of money, and have now been increased for S&S ISA and F&S.

GeoffTF

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

That is interesting. From what you have said, I assume that you ordered a fixed number of units of stock. What would have happened if you had specified a total price? Would they have worked out the number of units using the clean price? If so, they would have to sell the surplus units that they had bought in the market. None of this should be fatal. Nonetheless, it is not encouraging.

masonic

https://forums.moneysavingexpert.com/discussion/comment/81932336#Comment_81932336

I specified a total price. All was good until two working days later. I don't think there is a way oi specifying a number of units using the online system. They agreed to sell the excess units free of charge, but it was disappointing,

GeoffTF

https://forums.moneysavingexpert.com/discussion/comment/81932342#Comment_81932342

It is five years since I had an account with AJ Bell, and longer since I traded index linked gilts with them. IIRC the online system was updated shortly after the trade. Did that not value the stock bought at the dirty price? I would have thought that the problem would show very quickly.

masonic

https://forums.moneysavingexpert.com/discussion/comment/81932355#Comment_81932355

Both occasions were top-ups of an existing holding, so it wasn't immediately obvious from the online system. The difference was around 4-5%, diluted by the existing holding and masked by its small capital loss. However it was quite a good price that was achieved on the contract note! The second time I was wise to it and did spot something was amiss before they did.

GeoffTF

https://forums.moneysavingexpert.com/discussion/comment/81932548#Comment_81932548

Do you get good prices for small index linked gilt trades? I have always shied away from buying less than £40K at a time.

masonic

https://forums.moneysavingexpert.com/discussion/comment/81932680#Comment_81932680

Yes, I've made a few purchases around the £10k level and these have been just as good as larger orders. Overall I've been pleasantly surprised by the pricing in the trades that I have done, both at AJ Bell and iWeb/SWSD.

GeoffTF

https://forums.moneysavingexpert.com/discussion/comment/81932726#Comment_81932726

That is good to hear. I have been accumulating up my holdings from maturing term accounts. Some of those are nearing £200K. There are not many trades at that level on the LSE, but trades of that size are peanuts on the main market. I have yet to see what happens when I roll over holdings of that size. I expect that the retail market makers can easily offset large trades on the main market.