TD Direct sold to Interactive Investor
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I'm not necessarily suggesting that TD Direct customers rush through the exit door, but the risk of hanging on for if/when iii decide to implement a charging structure more akin to their own one isn't that you'll have exit fees to worry about, but that they could be deluged with transfer out requests which take them a significantly longer period to process than would normally be the case.0
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The broker market is going to get disrupted over the coming years, cutting costs to gain market share in cheaper pricing to customers.0
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When Selftrade was sold to Equitini, they offered a one-year free transfer out offer, so you could try the new service.
The downside of that was it took them four months to transfer out to TD.
I see HL are now offering cash back for transfers in. Tempted...0 -
Yep, got that letter from HL. I have been tempted to transfer under their cashback offer before but never actually got around to sending the forms off. £500 is easily enough to have me sending them off now as it will cover their charges for the next few years AND exit fees if they do something to annoy me!0
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The HL £500 is only for investors moving over £150k to the platform, but would cover a decade worth of fees if all you hold is shares, investment trusts and ETFs and don't do much trading. If that's you, it's pretty good! It covers only 9 months fees if you hold funds, those fees being 50-80% higher than other percentage-based providers.
Youinvest also have an up-to £500 transfer-in offer, but in theirs the idea is to just reimburse you your exit costs at up to £35 per line of stock plus up to £100 for general exit fees. They offer it for much smaller pots - only £20k needed instead of £150k to qualify.
The Youinvest one isn't as lucrative as the HL one because their money is only a reimbursement against actual costs. But they can be cheaper on an ongoing basis depending what you actually hold and how frequently you trade etc.0 -
I see HL are now offering cash back for transfers in. Tempted...
Thanks for posting that. I'm not a customer so wasn't aware of it. I'm also tempted. I have a few unwrapped investment trusts with Best Invest that I was planning to move to TD, but they could now go to HL (plus some more from TD) and I'd cover the costs of the BI transfers with the cashback and benefit from zero holding fees in HL's Fund and Share Account.0 -
Do Interactive Investor have an annual platform charge for index funds?
looking at their charges i dont see how they are any different to TD. similar sort of charges.0 -
The basics of the TD charging structure is similar to III, i.e. quarterly fee, but.... with TD there are ways of negating the quarterly fee, i.e. have a regular investment set up or have a certain amount of money in investments (and that's not very high).Do Interactive Investor have an annual platform charge for index funds?
looking at their charges i dont see how they are any different to TD. similar sort of charges.Personal Responsibility - Sad but True
Sometimes.... I am like a dog with a bone0 -
td & ii's charges are very different for funds (as opposed to shares).
td have a 0.3% annual holding charge for funds. ii have no holding charge.
ii charge for buying/selling funds. td don't.0 -
grey_gym_sock wrote: »td & ii's charges are very different for funds (as opposed to shares).
td have a 0.3% annual holding charge for funds. ii have no holding charge.
ii charge for buying/selling funds. td don't.
thats good for me then as i have a lot in index funds so would welcome not being charged 0.3%. index funds of around 100k would mean i save £300 a year which is great.0
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