Taxation of Investment Platform Transfer Bonuses

FIREDreamer

https://forums.moneysavingexpert.com/discussion/comment/81880620#Comment_81880620

Freetrade has only just been sold to IG though!

IG have a cashback offer too.

GeoffTF

https://forums.moneysavingexpert.com/discussion/comment/81880750#Comment_81880750

I suspect the inflating the AUM prior to the sale of the business might have been part of Hargreaves strategy, and perhaps it worked. It is possible that IG would like to sell one or both their investment platforms. Failing that, an increase in the AUM would be likely to increase IG's share price. Of course, some of the new customers will not transfer away, even if they could get a better deal elsewhere.

FIREDreamer

https://forums.moneysavingexpert.com/discussion/comment/81881062#Comment_81881062

You cant get a much better deal than free. Apart from free + cashback of course! 🤣

GeoffTF

https://forums.moneysavingexpert.com/discussion/comment/81881165#Comment_81881165

Cost is only part of a good deal, particularly if you have a large account. Your assessment of the security of the platform matters too. Some of us do not want to keep moving our accounts, and value the likelihood that a good deal will continue.

FIREDreamer

https://forums.moneysavingexpert.com/discussion/comment/81881406#Comment_81881406

Moving from Hargreaves (non flexible ISA) to a provider with a flexible ISA was a consideration too, especially as you get older.

Compared to Hargreaves’ app, Barclays is attrocious, Fidelity is slightly poorer and Freetrade is a bit better.

I quite like T212 and also AJ Bell but the latter is not a flexible ISA so I also exclude that too.

Not sure why Hargreaves and AJ Bell dont offer a flexible ISA as many people would find such a facility useful.