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Post by ladywhitenap on Apr 22, 2016 14:03:09 GMT
His Lordship and I have built up an ISA portfolio each over many years using an advisory service which has been quite good. We are now in retirement and not looking to put any further money in, just reinvest the dividends.
We are paying quite high charges on 6 figure sums each and I don't think we are getting good VFM. The company have grown quite large now and we don't get the rapid personal service either.
So it is time to change to a lower cost manager for each of our accounts.
We favour flat rate fixed or capped charges based on portfolio values and don't expect to be doing a lot of buying and selling other than reinvestment of dividends a few times per year.
We quite like the look of the Interactive Investor charging model but the customer reviews are poor at 1.5 out of 5 stars.
So any recommendations especially from investors of a certain age like us, would be very welcome.
TIA
LW
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SteveT
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Post by SteveT on Apr 22, 2016 15:11:17 GMT
I use TrustNet Direct, whose charges are capped at £200 per year (for both ISA & non-ISA accounts) plus £96 if you wish to include a SIPP account too. Trades are £10 each, flat-rate (or a bit less if you were to trade frequently). The back-office processing is also handled by Interactive Investor but there is an additional TrustNet account "dashboard" front-end which is quite helpful in fund selection and monitoring. I would say that, as an execution only low-cost fund supermarket, the set-up works quite well. The process of transferring in from other ISA managers took a while but worked out fine. Response to secure emails is usually a couple of days but they are available on the phone if needed faster.
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Steerpike
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Post by Steerpike on Apr 22, 2016 15:32:28 GMT
I use Hargreaves Lansdown for SIPPS, and ISAs for all of my family and have also used the currency transfer service.
Outstanding service, easy to use web site, and easy to manage multiple accounts.
I invest in funds and shares, fund trading is free on HL and share trading is fairly reasonably priced.
However, for your proposed usage I can't recommend HL because probably you won't be making many fund trades or requiring much help from HL and annual fees are based on a percentage rather than a fixed sum.
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Post by mrclondon on Apr 22, 2016 15:41:24 GMT
And I'm another strong fan of HL, with them holding most of my SIPP and ISAs with the rest of the money purchase pension money destined to be moved across to HL in due course. HL are very much in the category of "it does what it says on the tin". The only area of improvement I would like to see is one consistent set of charges across all sub accounts instead of the charges being determined on each sub-account in isolation.
However I have a funny feeling that its HL the OP is wanting to move away from ....
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Post by ladywhitenap on Apr 22, 2016 17:49:00 GMT
And I'm another strong fan of HL, with them holding most of my SIPP and ISAs with the rest of the money purchase pension money destined to be moved across to HL in due course. HL are very much in the category of "it does what it says on the tin". The only area of improvement I would like to see is one consistent set of charges across all sub accounts instead of the charges being determined on each sub-account in isolation.
However I have a funny feeling that its HL the OP is wanting to move away from ....
Close from the point of view of the level of charges but no cigar!. I'm currently with BestInvest and their portfolio based charges seem to be second highest to HL according to a couple of comparisons I've seen today. LW
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Post by longjohn on Apr 22, 2016 17:49:47 GMT
I moved my ISA and trading accounts from Selftrade to Interactive Investor and despite the transfer process being a bit long winded I've not been disappointed with the result.
I'm a happy II customer.
John
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Post by ladywhitenap on Apr 22, 2016 21:19:30 GMT
I moved my ISA and trading accounts from Selftrade to Interactive Investor and despite the transfer process being a bit long winded I've not been disappointed with the result. I'm a happy II customer. John Thank you John, I'd seen some negative reports of II so it is good to hear a first hand counter opinion. I also see that MotleyFool act as a front end for II and that says quite a lot I feel too. I've sent some enquiries to Alliance Trust as they look quite good. LW
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bigfoot12
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Post by bigfoot12 on Apr 23, 2016 8:15:53 GMT
I moved my ISA and trading accounts from Selftrade to Interactive Investor and despite the transfer process being a bit long winded I've not been disappointed with the result. I'm a happy II customer. John I also moved an ISA from Selftrade to II and it took over 5 months, and for about 6 weeks the money seemed to be lost as Selftrade marked it as gone, but II claimed it hadn't arrived. I found the customer service at II very frustrating during this transfer. For example there was no acknowledgement of receipt of documents. I had intended to transfer another ISA to II, but more than a year later I haven't done so. The fees are low.
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Post by ladywhitenap on Apr 23, 2016 9:12:45 GMT
The often recommended charges comparison table is here: monevator.com/compare-uk-cheapest-online-brokers/If you want very good customer service and don't mind paying £200 a year for it then I'd suggest HL otherwise I'd recommend youinvest which is basically free for direct holding ISAs. I don't invest in funds so if that's your bag, you might find HL a little expensive. Thanks for the link Paul. I now see that Youinvest do now make a charge of 0.2% (max £200) per account for funds so no longer "basically free" and we would need two of these. Still free for Stocks and shares though. Thanks LW
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Post by longjohn on Apr 23, 2016 11:06:11 GMT
I moved my ISA and trading accounts from Selftrade to Interactive Investor and despite the transfer process being a bit long winded I've not been disappointed with the result. I'm a happy II customer. John I also moved an ISA from Selftrade to II and it took over 5 months, and for about 6 weeks the money seemed to be lost as Selftrade marked it as gone, but II claimed it hadn't arrived. I found the customer service at II very frustrating during this transfer. For example there was no acknowledgement of receipt of documents. I had intended to transfer another ISA to II, but more than a year later I haven't done so. The fees are low. That was pretty much my experience too. However, the problem for me was Selftrade's tardy responses to II (and me) when queried about delays and missing docs and dividends etc. It seemed to me that the takeover of Selftrade by Equinity had given Equinity indigestion and they couldn't cope with the large number of dissatisfied clients trying to leave. II did a sterling job resolving all the problems. When I transferred my iDealing account to II some years ago it was completed seamlessly and much quicker. John
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bigfoot12
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Post by bigfoot12 on Apr 23, 2016 12:29:18 GMT
That was pretty much my experience too. However, the problem for me was Selftrade's tardy responses to II (and me) when queried about delays and missing docs and dividends etc. It seemed to me that the takeover of Selftrade by Equinity had given Equinity indigestion and they couldn't cope with the large number of dissatisfied clients trying to leave. II did a sterling job resolving all the problems. When I transferred my iDealing account to II some years ago it was completed seamlessly and much quicker. John What was strange for me was that months before the account appeared at II it had disappeared from Selftrade. I have a small ISA which I might transfer to see how they go, unfortunately I won't be able to transfer In Specie so I will be out the market the whole time.
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Post by Deleted on Apr 23, 2016 13:04:31 GMT
I hold SIPPs and ISA across a range of holders, Selftrade, iii, HL, Fidelity plus a few others (I like to keep holdings sub £200k in each). My recent transfer from Selftrade to iii was a nightmare but I am convinced that the whole fault was with Selftrade , I chased this up to Director level and am convinced that SelfTrade lost complete control of their business in the spring of 2015 and is only just getting back on top of it. iii has been pretty good, H-L takes up to 3 days to do its deals (which is not a big issue but worth noting) Fidelity is pretty much on top of it but their website is creaking a bit.
I'd plump for iii first and then Fidelity if I was starting again. iii heads it for me as you can hold shares as well as funds and the stops system works well.
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Post by ladywhitenap on Apr 23, 2016 13:17:13 GMT
I also moved an ISA from Selftrade to II and it took over 5 months, and for about 6 weeks the money seemed to be lost as Selftrade marked it as gone, but II claimed it hadn't arrived. I found the customer service at II very frustrating during this transfer. For example there was no acknowledgement of receipt of documents. I had intended to transfer another ISA to II, but more than a year later I haven't done so. The fees are low. That was pretty much my experience too. However, the problem for me was Selftrade's tardy responses to II (and me) when queried about delays and missing docs and dividends etc. It seemed to me that the takeover of Selftrade by Equinity had given Equinity indigestion and they couldn't cope with the large number of dissatisfied clients trying to leave. II did a sterling job resolving all the problems. When I transferred my iDealing account to II some years ago it was completed seamlessly and much quicker. John Interesting that you mention idealing John. they have been a long standing home for a few years worth of stocks and shares ISAs. When I tried to transfer my Best funds accounts to them last week, it appears they don't cater for funds which was a great shame as I've always had good service from iDealing and on £5 per quarter management charges and typical transaction charges. I'm currently looking at the Share Centre as a possible home. Good trustpilot reviews going back years and modest charges and minimal exit fees including processing in the event of death for which others seem to charge a lot. I know I won't be here to care but ...... Open to personal experiences of the Share Centre if you have 'em LW
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gt94sss2
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Post by gt94sss2 on Apr 26, 2016 20:53:03 GMT
I have recently started using TD Direct Investing who seem decent and have also used x-o.co.uk (which is run by Jarvis Investment Management)
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fp
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Post by fp on Aug 23, 2016 18:02:52 GMT
Sorry to drag up an old topic, but i'm currently looking down the route of a stocks/shares ISA. Initially I am looking at stocks, but as my knowledge increases it is likely I may look at other products also if I feel the risk/return balance is in line with my expectations.
If you were starting fresh, who would you use?
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