Best Bank For Stocks & Shares ISA?
wgt24
Posts: 16 Forumite
I currently have about 13k in an HSBC S&S account, only one I've ever tried.
Returns are decent but was just curious if anyone would recommend putting it somewhere else for greater return or other benefit?
Returns are decent but was just curious if anyone would recommend putting it somewhere else for greater return or other benefit?
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Why have you been spamming the boards singing the praises of this account without any experience of other accounts and now asking if there are better ones?0
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Certainly not a bank !!! Charges too high, usually inflexible and limited compared to alternatives.
And also, if only £13k, why not an ISA*? Numerous tax and simplicity benefits.
Whats best for you depends how you manage your shares/funds and what ones you want. regular saving, regular trading, shares, funds, EFTs etc.
* also, NOT with a bank !0 -
Apologies just thought I'd share that I've had a good experience with the HSBC one so far, but also keen to see what other people might suggest as better that I haven't considered yet.0
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There are many platforms that offer S&S ISAs within which a massive range of investments can be held, rather than being constrained to HSBC's own small selection. These will often be substantially cheaper than HSBC's platform too, as high street banks aren't known for their value for money in this space.Apologies just thought I'd share that I've had a good experience with the HSBC one so far, but also keen to see what other people might suggest as better that I haven't considered yet.
For more cost-effective and better quality investing, check out
http://monevator.com/compare-the-brokers/
http://www.comparefundplatforms.com/
http://forums.moneysavingexpert.com/showthread.php?t=5583030
Edit: asking "Best Bank For Stocks & Shares ISA?" is a bit like asking "which Citroen would be best to drive from London to Birmingham?"
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These will often be substantially cheaper than HSBC's platform too, as high street banks aren't known for their value for money in this space.
Indeed, though to be fair Halifax isn't bad, especially if you use the regular investment option.
Lloyds is also good for large fund-oriented portfolios, but (because of the £40 flat annual charge) not so much for the amounts we're talking here.0 -
I've tried numerous in last year.
HSBC- Limited, poor outdated user interface, expensive.
Halifax= expensive if you are planning on swithching funds.
Barclays= Looks nice, trading prices are good. But regular website outages, website crashes, difficult to filter through. Monthly fee involved. Defo would not recomend.
Aj Bell= looks good so far. They use Morningstars analysis platform. Cheaper than HL.0 -
Aj Bell= looks good so far. They use Morningstars analysis platform. Cheaper than HL.
HSBC Investment Centre have dropped their platform fees to 0.25% (same as AJ Bell but without the £1.50 fund trade fee) and browsing through their list of funds there are some good ones such as the low cost HSBC Global Strategy series. Still you get the same price and more fund choice with Cavendish.
I agree Halifax Share Dealing can be expensive if you mess around with your choices but I find their fee structure works really well if you have a big enough account and can stick to a plan.
Alex0
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