TD Direct sold to Interactive Investor

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Comments

  • System
    System Posts: 178,092 Community Admin
    Photogenic Name Dropper First Post
    One advantage of TD direct is that they do not charge for transfers out of accounts to another brokers whereas Interactive Investors do charge for transfers out. The only other broker that I know that does not charge for transfers out is IG. Are there any others?
  • rail.link
    rail.link Posts: 245 Forumite
    Time to head for the exits if these clowns, iii, are taking over.
  • JohnRo
    JohnRo Posts: 2,887 Forumite
    First Anniversary Combo Breaker First Post
    The timing could not have been worse for me. The day before this announcement I sent in the transfer forms.

    I'll have to see how this potentially disastrous takeover unfolds with regard to TD's quality, service and regular investment/custody costs for IT and ETF holdings.

    If those costs change significantly for the worse it's looking like yet another transfer is on the horizon some time next year. I may just go back to CSD and admit defeat in the quest to find a low cost platform that avoids taxation.
    'We don't need to be smarter than the rest; we need to be more disciplined than the rest.' - WB
  • ed44
    ed44 Posts: 22 Forumite
    JohnRo wrote: »
    The timing could not have been worse for me. The day before this announcement I sent in the transfer forms.

    I'm sure you could contact them to stop the transfer in the light of this news.


    I think I'll be transferring out, but I'll wait for further news.

    With providers changing prices every few years, and expensive transfer out charges, who would be the best in the long term for an IT/ETF ISA portfolio?
  • HarryFlatters
    HarryFlatters Posts: 37 Forumite
    First Post
    As a newbie I found a comparison of various platform charges useful here:
    Oops seems I can't post links, you'll have to find the direct platform review at LangCat Financial .
    Whats the general consensus of II ?
  • bowlhead99
    bowlhead99 Posts: 12,295 Forumite
    Name Dropper First Post First Anniversary Post of the Month
    ed44 wrote: »
    With providers changing prices every few years, and expensive transfer out charges, who would be the best in the long term for an IT/ETF ISA portfolio?

    I think you have just answered your own question, in that providers change prices every few years and so it is not possible to know "who would be the best in the long term" until you get to the long term and look back.

    I have been with TD for years for unwrapped and ISA, as their broking side is great, with better features than those firms that started more as fund platforms and later added basic share trading. I will wait to see what happens with the change of ownership and the planned service options as well as the fees, before looking to move.

    If you are only or mainly doing ITs and ETFs but nothing that needs a fund platform, Youinvest is not bad (though as mentioned I'm not currently using them for my ISA, just a SIPP).
  • badger09
    badger09 Posts: 11,200 Forumite
    First Post First Anniversary Name Dropper
    HarryFlatters wrote: »
    As a newbie I found a comparison of various platform charges useful here:
    Oops seems I can't post links, you'll have to find the direct platform review at LangCat Financial .
    Whats the general consensus of II ?


    Have a read of the more recent pages of this 94 page thread

    http://forums.moneysavingexpert.com/showthread.php?t=4904374
  • talexuser
    talexuser Posts: 3,498 Forumite
    Name Dropper First Post First Anniversary
    Economic wrote: »
    Are there any others?

    I left Fidelity with no transfer out charges but they are a % platform so not so suitable for large value ISAs (why I left, very happy with the service). Still got the SIPP there because relatively low value and no extra charges for switches etc.
  • ed44
    ed44 Posts: 22 Forumite
    bowlhead99 wrote: »
    If you are only or mainly doing ITs and ETFs but nothing that needs a fund platform, Youinvest is not bad (though as mentioned I'm not currently using them for my ISA, just a SIPP).

    Yes, YouInvest are an option, but I didn't like the way they treated customers with large fund holdings after their latest increase.

    If we're going to have to pay a platform fee for decent service, then HL also becomes a contender.
  • bowlhead99
    bowlhead99 Posts: 12,295 Forumite
    Name Dropper First Post First Anniversary Post of the Month
    edited 13 October 2016 at 5:05PM
    Yes, the Youinvest suggestion was more for JohnRo as he is just running a non-funds portfolio (at the moment) and their platform fee on small amounts of funds are not too pricy. I didn't worry too much about the removal of the platform cap because, selfishly, it didn't really hurt me as I didn't have huge funds holdings that were relying on it - but I could see it would be very painful for some (as was their previous fee structure change, for a vocal minority).

    The HL fee cap on ETFs, ITs and shares is only £15 more than Youinvest but their usual transaction fee is £2 higher which could be relevant for some. They have at least now added some ETFs to their regular investing program at the £1.50 level.
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