travolta
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Post by travolta on Nov 3, 2021 17:59:55 GMT
Almost 100% decided to quit HL due to ever escalating charges.
I've stayed faithful for many years as I appreciate the hands on facility to buy shares.
Any advice on somewhere similar but less expensive?
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hazellend
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Post by hazellend on Nov 3, 2021 18:09:27 GMT
Almost 100% decided to quit HL due to ever escalating charges. I've stayed faithful for many years as I appreciate the hands on facility to buy shares. Any advice on somewhere similar but less expensive? If you switch to holdings that aren’t funds then HL are dirt cheap
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Post by overthehill on Nov 3, 2021 18:27:21 GMT
Almost 100% decided to quit HL due to ever escalating charges. I've stayed faithful for many years as I appreciate the hands on facility to buy shares. Any advice on somewhere similar but less expensive?
Interesting please expand. It's 0.45% pa for invested funds and no interest on cash deposits.
As an aside, HL is hopeless for buying and selling shares, ETF's or inv. trusts, £12 a shot. You're better at somewhere like Freetrade, clue is in the name. Buying/selling funds are free at HL.
HL's own funds including the bond ones are just a nonsense and don't perform well. They are mostly just a collection of other funds that you can pick yourself, without paying double charges and filling HL's coffers.
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james100
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Post by james100 on Nov 3, 2021 18:27:38 GMT
Almost 100% decided to quit HL due to ever escalating charges. I've stayed faithful for many years as I appreciate the hands on facility to buy shares. Any advice on somewhere similar but less expensive? Depends what you want and what you're paying now. I'm about to move an account (simple, with only UK based ETFs) to HL which I understand has a 45 per year cap. Interactive Investor is good for multiple accounts/currencies and regular investing depending on how much you have in the pot.
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IFISAcava
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Post by IFISAcava on Nov 3, 2021 20:12:22 GMT
Almost 100% decided to quit HL due to ever escalating charges. I've stayed faithful for many years as I appreciate the hands on facility to buy shares. Any advice on somewhere similar but less expensive? If you switch to holdings that aren’t funds then HL are dirt cheap For just etfs in an ISA, HL/Fidelity/AJ Bell all much of a muchness: Fidelity (£45 per year cap) HL (ditto) AJ Bell (£42 per year) Fidelity dealing fee £10 HL £11.95 AJ Bell £9.95. This is as ever the most comprehensive comparison: monevator.com/compare-uk-cheapest-online-brokers/Helpfully it gives estimates of what level of investment you need before flat fee brokers beat % based brokers. FWIW, for ISAs I use: iWeb (buy and hold funds) ii (regular investment funds) Freetrade (etfs) T212 (etfs) I'm wary of Freetrade/T212 and won't invest more than the £85,000 FSCS protected limit. I'll probably transfer to Fid/HL/AJBell at some point once I have accumulated what I want in there and the individual holdings are large enough to warrant it. I also wouldn't put all my eggs in one broker's basket, even though with caps that makes some degree of sense. www.finumus.com/blog/what-if-my-broker-goes-bust
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IFISAcava
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Post by IFISAcava on Nov 3, 2021 20:17:36 GMT
For funds though, HL is a rip off at 0.45%. Literally everyone else beats them, even if you factor in some fund discounts. My experience at Vanguard (0.15%) and Fidelity (0.2% on the deal I have) is good - but at a certain level it makes sense to transfer over to flat fee platforms. see also: monevator.com/cheapest-stocks-and-shares-isa-hack/
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travolta
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Post by travolta on Nov 3, 2021 21:09:16 GMT
Almost 100% decided to quit HL due to ever escalating charges. I've stayed faithful for many years as I appreciate the hands on facility to buy shares. Any advice on somewhere similar but less expensive? If you switch to holdings that aren’t funds then HL are dirt cheap I'm hamstrung with a massive ex Woodford fund that is slowly clawing back. Should probably knock it on the head and divert into shares with Freetrader. I rely on dividends for income.
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Post by overthehill on Nov 3, 2021 21:32:21 GMT
If you switch to holdings that aren’t funds then HL are dirt cheap I'm hamstrung with a massive ex Woodford fund that is slowly clawing back. Should probably knock it on the head and divert into shares with Freetrader. I rely on dividends for income.
That fat cat clown cost me £3k in the Patient Capital Inv Trust, an unsurpassed implosion caused by his arrogant actions and self survival. Irony was I sussed him out well before the day of reckoning but my plan to double up to recover losses quicker and get out backfired!
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travolta
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Post by travolta on Nov 3, 2021 21:48:24 GMT
I'm hamstrung with a massive ex Woodford fund that is slowly clawing back. Should probably knock it on the head and divert into shares with Freetrader. I rely on dividends for income.
That fat cat clown cost me £3k in the Patient Capital Inv Trust, an unsurpassed implosion caused by his arrogant actions and self survival. Irony was I sussed him out well before the day of reckoning but my plan to double up to recover losses quicker and get out backfired!
Sadly 20x more in my case...tho' not the same trust ...I've had 10% recovery so far which is why I'm loathe to leave...but life's too short.
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Post by overthehill on Nov 3, 2021 21:59:47 GMT
That fat cat clown cost me £3k in the Patient Capital Inv Trust, an unsurpassed implosion caused by his arrogant actions and self survival. Irony was I sussed him out well before the day of reckoning but my plan to double up to recover losses quicker and get out backfired!
Sadly 20x more in my case...tho' not the same trust ...I've had 10% recovery so far which is why I'm loathe to leave...but life's too short.
That's a bastard. I've lost touch with that scandal, there has to be compensation at some point surely. must look it up. HL were absolutely complicit in putting him on a pedestal and pushing his funds right to the death, it stinks. Patient Capital was taken over by Schroders after I had sold out, don't think it has recovered much, presuming much of the fund is still woodfords dross.
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Post by Deleted on Nov 4, 2021 10:13:11 GMT
I manage multiple family member's money all at different times of their lives so need access to a range of different offerings. For the basic best spread of vanilla investments (so international funds and UK shares/ETF/Reits etc) I find ii fantastic value for money especially as you earn credit by paying fees which reduce dealing costs from the "official" cost to close to zero.
I've just brought the last account out of HL to ii and unlike the first (took 5 months) this last one took only 1 month. I would recommend ringing up ii and asking them how to do an HL to ii transfer as their website only covers general transfers.
ii also offer some nice tools including a wishlist page with full morningstar driven analysis to identify cross share holdings. The sort of analysis tools are far better than Fidelity, AJBell and Barclays which are my other Fund holders and almost as good as the only pro-tool I connect with which is Old Mutual/Quilter. However they all rely on Morningstar. I recently reviewed Morningstar's quality of information and found it pretty poor. So if doing cross comparison analysis I'd also test the data against trustnet.com
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Post by moonraker on Nov 4, 2021 16:54:10 GMT
Sadly 20x more in my case...tho' not the same trust ...I've had 10% recovery so far which is why I'm loathe to leave...but life's too short.
That's a bastard. I've lost touch with that scandal, there has to be compensation at some point surely. must look it up. HL were absolutely complicit in putting him on a pedestal and pushing his funds right to the death, it stinks. Patient Capital was taken over by Schroders after I had sold out, don't think it has recovered much, presuming much of the fund is still woodfords dross.
Don't think it's been mentioned here before but for a while some legal firm specialising in compensation has been sponsoring some of the transmissions by Talking Pictures (Channel 81) related to it taking a class action against parties involved in the Woodford imbroglio. It's been doing so for some time now and I would have thought any viewers wanting to support the action would have done so some time ago.
I've a vague idea who the parties may be, but won't mention names in case I'm wrong. I record Talking Pictures programmes and fast-forward all the preliminary guff.
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Post by overthehill on Nov 4, 2021 17:35:54 GMT
That's a bastard. I've lost touch with that scandal, there has to be compensation at some point surely. must look it up. HL were absolutely complicit in putting him on a pedestal and pushing his funds right to the death, it stinks. Patient Capital was taken over by Schroders after I had sold out, don't think it has recovered much, presuming much of the fund is still woodfords dross.
Don't think it's been mentioned here before but for a while some legal firm specialising in compensation has been sponsoring some of the transmissions by Talking Pictures (Channel 81) related to it taking a class action against parties involved in the Woodford imbroglio. It's been doing so for some time now and I would have thought any viewers wanting to support the action would have done so some time ago.
I've a vague idea who the parties may be, but won't mention names in case I'm wrong. I record Talking Pictures programmes and fast-forward all the preliminary guff.
I did some research last night and the whole debacle is still bubbling, court cases, slow payments, squeaky bums and burnt investors.
Everyone is waiting for the FCA inquest report which was put back again until the end of 2021, goes without saying. There will be compensation as there have been precedents but don't know what level. There were two mutual funds that were frozen but I was in the Investment Trust and have always assumed possibly incorrectly that investors in that fund had absolutely no chance of compensation. You had the option to sit tight or sell up. I imagine the investors in the income focus fund that was sold to aberdeen invs are in the same boat.
It's no secret who the parties are, Woodford, his company , Link and HL and maybe more. FCA report will presumably detail who knew what, who did what , what rules were broken etc. He sold a lot of shares in the Inv Trust shortly before the implosion without notifying Link , I remember that much.
EDIT: his old inv. trust is now called Schroder UK Public Private Trust, sitting at £33 about where I sold out over 2 years ago. The original fund started at 90, reached 105 briefly, dropped as low as 20 and I think schroder took it over at about 30. Anyone thinking of dipping their toes in ?!
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travolta
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Post by travolta on Nov 4, 2021 18:49:59 GMT
I'm in the Aberdeen conversion that has clawed its way back from 60% loss to 45% but has halved the dividend. I really ought to cut and run.
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Post by overthehill on Nov 4, 2021 20:49:04 GMT
I'm in the Aberdeen conversion that has clawed its way back from 60% loss to 45% but has halved the dividend. I really ought to cut and run.
It's common trap, I've done it, you try to make good the losses by leaving the money in the same place thinking the value is bound to increase more than another fund which has been performing normally. If the fund performance has been bad over the last year compared to others in the same sector I would shift it, stock markets have been on fire. I've never seen many aberdeen or standard life funds amongst the top performers and I doubt their brand new name abdrn will make a difference, obviously came up with that at a drunken nightout having trouble with their vowels.
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