puddleduck
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Post by puddleduck on Jun 21, 2018 8:14:03 GMT
I'm with HL and a few years back I also transferred a fair bit to BestInvest, but did keep 25% of my pot with H-L. I've decided I'm transferring everything back from BestInvest back to H-L. I find the H-L low cost Legal and General tracker funds very good value. Following L&G's recent price restructuring I think it's slightly cheaper to hold the trackers directly with L&G now. Hi, its depends on the fee level, if you are on 0.45% platform fee then with the 0.08% L&G ongoing charge, then its 0.53% with H-L. Its 0.51% with L&G direct. (using the L&G International Index as an example) So it may be a little cheaper as you say depending on how much is in your H-L pot.
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awk
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Post by awk on Jun 21, 2018 8:59:16 GMT
For info;
We now have a number of accounts with HL (ISA, SIPP, FUNDS) and I recently phoned to say that their charging mechanism (% based and tiered) is good for small portfolios, but was uncompetitive for larger portfolios when compared to flat fee accounts. In addition, I pointed out that because we have a number of accounts between us, we were disadvantaged by the tiering which is per account based rather than the overall total, meaning that we paid 0.45% on most of our balances despite having a 7 figure sum between us overall. I said that the service was great, but because of the charging mechanism, we were considering whether to migrate to other platforms.
I was passed to “someone who deals with fees” who defended their charging mechanism as being competitive and pointed out the quality of their service and the discounts they offer on fund fees (both valid points), etc, etc.
However, after this set piece speech lasting a few minutes, he then offered to remove the 0.45% tier for all our accounts and just charge us 0.25% on everything up to £1m per account (this doesn’t impact us!). He said that he would make the change immediately, but it would be reviewed again if we significantly reduced our balances. It was done by the next months interest run.
Clearly, he didn’t just make that up on the spot, it must be a fairly standard offer, if challenged.
Might be worth a go if you have a large portfolio and/or multiple accounts.
Please respond to this post if anyone is successful - it would be interesting to know what the trigger is.
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stevio
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Post by stevio on Jun 21, 2018 9:21:01 GMT
For info; We now have a number of accounts with HL (ISA, SIPP, FUNDS) and I recently phoned to say that their charging mechanism (% based and tiered) is good for small portfolios, but was uncompetitive for larger portfolios when compared to flat fee accounts. In addition, I pointed out that because we have a number of accounts between us, we were disadvantaged by the tiering which is per account based rather than the overall total, meaning that we paid 0.45% on most of our balances dispite having a 7 figure sum between us overall. I said that the service was great, but because of the charging mechanism, we were considering whether to migrate to other platforms. I was passed to “someone who deals with fees” who defended their charging mechanism as being competitive and pointed out the quality of their service and the discounts they offer on fund fees (both valid points), etc, etc. However, after this set piece speech lasting a few minutes, he then offered to remove the 0.45% tier for all our accounts and just charge us 0.25% on everything up to £1m per account (this doesn’t impact us!). He said that he would make the change immediately, but it would be reviewed again if we significantly reduced our balances. It was done by the next months interest run. Clearly, he didn’t just make that up on the spot, it must be a fairly standard offer, if challenged. Might be worth a go if you have a large portfolio and/or multiple accounts. Please respond to this post if anyone is successful - it would be interesting to know what the trigger is. Lots of people on MSE got this deal when they changed their charging structure many years ago - it seems reducing the balance makes no difference to the reduction
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Post by Ace on Jun 21, 2018 10:11:29 GMT
Following L&G's recent price restructuring I think it's slightly cheaper to hold the trackers directly with L&G now. Hi, its depends on the fee level, if you are on 0.45% platform fee then with the 0.08% L&G ongoing charge, then its 0.53% with H-L. Its 0.51% with L&G direct. (using the L&G International Index as an example) So it may be a little cheaper as you say depending on how much is in your H-L pot. That's a fair and accurate point puddleduck . I'm afraid the reduced fees at HL for higher value pots didn't need to trouble my personal calculations, but will obviously be relevant to many here. One day, just maybe...
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ding
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Post by ding on Jun 21, 2018 10:41:10 GMT
Moved my Fidelity/CSD OEIC funds to IWEB. Sold some shares at youinvest, again moved to IWEB. Was paying nasty custodial fees every year.
Bought 10k of Fundsmith I ACC. Fee a one off 0.0005% (£5)
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alibaba
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Post by alibaba on Jun 21, 2018 12:38:44 GMT
Been with HL for many years still have a SIPP with them but recently started to trade in shares (small time) after a lot of research found Degiro, I think that they are based in the Netherlands, a little frustrating registering (passport, utility bills etc ) but very low cost to trade. One tip if you do sign up transfer a small amount( five pounds ) to start with, the checks are done after you have set up the initial bank details. Please do you own DD.
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stevio
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Post by stevio on Jun 21, 2018 16:21:19 GMT
Been with HL for many years still have a SIPP with them but recently started to trade in shares (small time) after a lot of research found Degiro, I think that they are based in the Netherlands, a little frustrating registering (passport, utility bills etc ) but very low cost to trade. One tip if you do sign up transfer a small amount( five pounds ) to start with, the checks are done after you have set up the initial bank details. Please do you own DD. Hope you thoroughly researched the risks - particularly the lending on your shares and the Netherlands compensation scheme? www.lemonfool.co.uk/viewtopic.php?t=8422
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Post by moonraker on Jun 21, 2018 17:40:05 GMT
For info; We now have a number of accounts with HL (ISA, SIPP, FUNDS) and I recently phoned to say that their charging mechanism (% based and tiered) is good for small portfolios, but was uncompetitive for larger portfolios when compared to flat fee accounts. In addition, I pointed out that because we have a number of accounts between us, we were disadvantaged by the tiering which is per account based rather than the overall total, meaning that we paid 0.45% on most of our balances despite having a 7 figure sum between us overall. I said that the service was great, but because of the charging mechanism, we were considering whether to migrate to other platforms. I was passed to “someone who deals with fees” who defended their charging mechanism as being competitive and pointed out the quality of their service and the discounts they offer on fund fees (both valid points), etc, etc. However, after this set piece speech lasting a few minutes, he then offered to remove the 0.45% tier for all our accounts and just charge us 0.25% on everything up to £1m per account (this doesn’t impact us!). He said that he would make the change immediately, but it would be reviewed again if we significantly reduced our balances. It was done by the next months interest run. Clearly, he didn’t just make that up on the spot, it must be a fairly standard offer, if challenged. Might be worth a go if you have a large portfolio and/or multiple accounts. Please respond to this post if anyone is successful - it would be interesting to know what the trigger is. I secured such a reduction several years ago, following articles in the weekend newspapers' financial supplements. My HL holdings were well into six figures. I've always found HL, its website and staff to be very efficient
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jwatson
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Post by jwatson on Aug 30, 2018 16:30:49 GMT
Thanks, on the back of this thread I emailed HL and asked for a charge reduction from 0.45% to 0.25% across all 4 of our family ISA accounts (including 2 junior ISAs with a couple of thousand in). They sent a long rambling email back but agreed to the lower charges. I just wish I'd done this earlier
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zlb
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Post by zlb on Sept 1, 2018 12:02:20 GMT
Degiro are fun. No ISA or SIPP though, so only of use if under CGT/div limit.
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Post by mattygroves on Sept 2, 2018 11:37:54 GMT
I left HL when they imposed the 0.45% charge even though I did manage to get the 0.25% offer by complaining. They also offered to waive all exit charges so I took the chance to escape. I did seriously think about leaving my shares and ETFs though as the fees for anything but funds are very reasonable.
I went to ii and although the transfer process was painful I've been there 3 years now and am happy with the charges for my three accounts (ISA, unwrapped and SIPP) as I tend to use the trading credits to do my SIPP purchases and rebalancing of the portfolio once a year. The website isn't as slick as HL but it does everything I want and I've yet to find a fund I've wanted that they can't offer.
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hantsowl
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Post by hantsowl on Sept 3, 2018 23:47:43 GMT
For info; We now have a number of accounts with HL (ISA, SIPP, FUNDS) and I recently phoned to say that their charging mechanism (% based and tiered) is good for small portfolios, but was uncompetitive for larger portfolios when compared to flat fee accounts. In addition, I pointed out that because we have a number of accounts between us, we were disadvantaged by the tiering which is per account based rather than the overall total, meaning that we paid 0.45% on most of our balances despite having a 7 figure sum between us overall. I said that the service was great, but because of the charging mechanism, we were considering whether to migrate to other platforms. I was passed to “someone who deals with fees” who defended their charging mechanism as being competitive and pointed out the quality of their service and the discounts they offer on fund fees (both valid points), etc, etc. However, after this set piece speech lasting a few minutes, he then offered to remove the 0.45% tier for all our accounts and just charge us 0.25% on everything up to £1m per account (this doesn’t impact us!). He said that he would make the change immediately, but it would be reviewed again if we significantly reduced our balances. It was done by the next months interest run. Clearly, he didn’t just make that up on the spot, it must be a fairly standard offer, if challenged. Might be worth a go if you have a large portfolio and/or multiple accounts. Please respond to this post if anyone is successful - it would be interesting to know what the trigger is. I managed to negotiate the 0.25% deal a couple of years ago for myself and wife in a similar way to how you did (sipps and isas for both of us).
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travolta
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Post by travolta on Oct 4, 2018 15:12:21 GMT
Chickened out in the end , but consoled myself by opening something with Vanguard (equity index) as practically EVERYBODY is urging . Too little too late as usual , sigh..... Just bought another lottery ticket
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jlend
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Post by jlend on Oct 5, 2018 8:32:02 GMT
For info; We now have a number of accounts with HL (ISA, SIPP, FUNDS) and I recently phoned to say that their charging mechanism (% based and tiered) is good for small portfolios, but was uncompetitive for larger portfolios when compared to flat fee accounts. In addition, I pointed out that because we have a number of accounts between us, we were disadvantaged by the tiering which is per account based rather than the overall total, meaning that we paid 0.45% on most of our balances despite having a 7 figure sum between us overall. I said that the service was great, but because of the charging mechanism, we were considering whether to migrate to other platforms. I was passed to “someone who deals with fees” who defended their charging mechanism as being competitive and pointed out the quality of their service and the discounts they offer on fund fees (both valid points), etc, etc. However, after this set piece speech lasting a few minutes, he then offered to remove the 0.45% tier for all our accounts and just charge us 0.25% on everything up to £1m per account (this doesn’t impact us!). He said that he would make the change immediately, but it would be reviewed again if we significantly reduced our balances. It was done by the next months interest run. Clearly, he didn’t just make that up on the spot, it must be a fairly standard offer, if challenged. Might be worth a go if you have a large portfolio and/or multiple accounts. Please respond to this post if anyone is successful - it would be interesting to know what the trigger is. I managed to negotiate the 0.25% deal a couple of years ago for myself and wife in a similar way to how you did (sipps and isas for both of us). I think it is fairly common. I got mine reduced in Feb 2014 shortly after their new fee structure was introduced. Also if you are transfering anything to them it is worth asking if they will cover any exit fees from other providers as they offered this as well at the same time
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Post by moonraker on Oct 5, 2018 9:53:26 GMT
I think it is fairly common. I got mine reduced in Feb 2014 shortly after their new fee structure was introduced ... Me too. I saw an article in the Daily Telegraph that one could approach HL about reduced fees. I did so, and they agreed. I've always been very happy with their service and their reports on my portfolio - now quarterly. When I used to do the occasional deal by telephone they were very efficient, and they've responded promptly - and patiently - to my enquires by Private Message.
Of course I can't say how the competition compares...
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