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Funds Platform, Interactive Investor
B B
Posted: 18 December 2017 14:17:48(UTC)
#1

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This subject may have been covered elsewhere, but I'd be interested to hear about the fund platform, Interactive Investor, from either a current or past user. I'm looking to move away from Bestinvest and Int Inv appear to offer similar facilities significantly cheaper, although that's not the reason for moving.

Everything would be Isa's no shares.
Sara G
Posted: 18 December 2017 19:28:24(UTC)
#2

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The website has recently undergone some changes and so far it's looking pretty good. If your portfolio is a reasonable size, you're holding OEIC's and not trading too frequently Interactive are definitely cost-effective - a £90 flat fee and you get 9 free trades per year.

But if cost is not the main factor, then you might want to look at HL for comparison - expensive, but there is free fund dealing.

If you mean closed-end funds (IT's) then HL are cheap - capped fee of £45 per annum, although there are no free trades (£11.95 per trade, £1.50 for monthly contributions).
2 users thanked Sara G for this post.
Tim D on 18/12/2017(UTC), C Blockley on 23/12/2017(UTC)
B B
Posted: 19 December 2017 10:48:40(UTC)
#4

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Many thanks Sara G.

What I'd had in mind, was using the IFA "Candid Money" and Interactive Investor for the platform. I estimate their combined cost would be 0.6% with advice. Everything at the moment is isa wrapped, no shares or IT's.

Iv'e run everything for a number of years and suspect that Iv'e not had the best portfolio allocation. That, plus age, determines the move.
Trev DIYer
Posted: 19 December 2017 12:28:31(UTC)
#5

Joined: 04/06/2017(UTC)
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I just switched two ISAs from II to iWeb.

II were awful on the transfer. Hopeless communication, lost the forms, etc and it took a couple of weeks longer than it should have done, despite being all cash (to speed it up!).

iWeb seem to be fine (and cheaper).

I don't use either site for research.
1 user thanked Trev DIYer for this post.
sharw on 01/01/2018(UTC)
John Greenshields
Posted: 19 December 2017 15:03:48(UTC)
#6

Joined: 19/12/2017(UTC)
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I transferred two years ago from hl to ii and the platform was really good simple to use etc.They have now taken over another company and have started to use their platform.I am finding it very frustrating navigating around this site.My portfolio is mostly acc funds which were automatically reinvested but this has changed under the new system paying the divi into the account as cash.I enquired if I could transfer my account to another company without incurring exit fees as this was not the conditions I originally signed up for.They told me I would still have to pay the exit fees.Surely this can’t be right.
2 users thanked John Greenshields for this post.
Bellabeck on 23/12/2017(UTC), huudi on 01/01/2018(UTC)
s webster
Posted: 19 December 2017 16:58:55(UTC)
#7

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I have just had my transfer go through from II to Iweb almost six weeks to completion.Think they should have been quicker no regrets about leaving II could not understand the fee structure.Iweb easy and simple had no problems since i opening an account in april.
1 user thanked s webster for this post.
Peter Sm on 19/12/2017(UTC)
B B
Posted: 23 December 2017 13:08:45(UTC)
#8

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Your thoughts and input much appreciated. It always pays to hear the end users pov. I was initially with the Fidelity platform a few years ago and although not everyones favourite, they are accessible, so I'll have another look at them.

I regularly get account "log in" issues with Bestinvest using different servers on Mac and Windows OS. BI don't even bother to reply to the screen shots confirming the issue which goes back a few years. Definitely time to move.
john_r
Posted: 23 December 2017 15:22:15(UTC)
#9

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As previously suggested take a look at IWEB (part of Halifax).
A one of payment of £24 to open a dealing account including ISA.
Dealing charge - a flat £5 per trade (shares or funds).
No annual holding charges (shares or funds).
Uses 'Digital Look' as research provider (same as HL).

Another alternative to check out is "You Invest". No account opening charge.
£1.50 dealing charge for funds(or £10 for shares). 0.25%pa holding charge for funds (same for shares but capped @ £7.50 a quarter).

Both of these are good professional brokers offering similar services as HL in my opinion but at lower charges.
1 user thanked john_r for this post.
gillyann on 31/12/2017(UTC)
Alan Selwood
Posted: 23 December 2017 16:44:53(UTC)
#10

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My current preferred list for online platforms is:

X-O for shares and investment trusts (no fund option) and iWeb (shares, investment trusts and funds)

then ( at a slightly higher price, because of annual charge and higher dealing charge ) A J Bell YouInvest.

Trailing all these is HL, because annual charges are significantly higher, even with cap on share/IT holdings, and dealing charges are higher too.
------

For purchases of Fundsmith Equity Fund, the direct holdings of T units at Fundsmith itself are the cheapest, and the service is excellent, while if you think you might need to switch to other holdings fairly quickly, or go liquid, hold them through A J Bell as I units, or see if you can hold I units via iWeb.

Hearing of all the problems mentioned throughout the year re Barclays, II, Bestinvest, etc., I'm just glad I'm not with them.

Any firm that cannot do rapid execution of orders, or gets any documentation / dividends / or similar wrong needs to be dumped asap. Similarly any firms that don't have intelligent contact staff or do have slow administration / transfers, etc.

It's a competitive market-place, and if they can't be top-notch, they have no place on investors' short lists of platforms to use.
3 users thanked Alan Selwood for this post.
Stephen Lockie on 24/12/2017(UTC), David 111 on 31/12/2017(UTC), huudi on 01/01/2018(UTC)
Rob In Oxford
Posted: 31 December 2017 11:36:28(UTC)
#11

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Hi BB
I have held an Account with ii for around 5-6 years now.
Mainly Open ended funds held both inside and outside an ISA wrapper. A couple of IT funds and some individual stocks as well.
I also opened Junior ISAs with them which you can hold for no extra cost.

Advantages:
Pretty good platform. Reliable. The App for iPhone / iPad use is pretty good also. Have never experienced any material downtime or problems with a trade.
As others have said relatively cheap if you hold larger amounts and don't trade too often.
Up until recently you were able to hold a spouse account for no extra cost, although they removed this when they went to the new platform.
As others have said you get the Quarterly fee back in trading credits, so if you are doing around 8 buy or sell transactions per year, then this washes its face. If you have a large portfolio this is a big advantage over a % based fee.

Disadvantages
Not always great at replying to emails. they can take 3 or 4 days, although I note this has got better in the last year or so.
Tax certificates can come through very late. Never appear before September and one year they were still publishing updates the following February (to be fair this may be the same with other platforms)
If you are looking to take cash out after a trade the whole process takes quite a few days (about 5 working days from executing a trade to having cash transferred to my bank). Again to be fair this may be common with others.
The removal of the free spouse account was frustrating, but again, the fact that get the quarterly fee back in trading credits means it probably won't be material.

Overall I am happy with the platform. The pain of switching to another means I will likely stay with them while I continue to hold a significant portfolio.

william barnes
Posted: 31 December 2017 13:14:21(UTC)
#12

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Hi
For basic simple and cheap dealing of equities inc investment trusts ,iWeb are brilliant and cheap
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Mr Helpful on 31/12/2017(UTC)
EFFGEE
Posted: 31 December 2017 17:31:08(UTC)
#13

Joined: 30/12/2017(UTC)
Posts: 1

Have been with ii for years & never had a problem
Charges have gone up recently a little but considering they kept their charges fixed for years previously won't complain. The more you have with them the better the deal as its a flat rate. They are still working on the TDW takeover & that seems to be throwing up a couple of (minor) gremlins but I could only recommend them for customer service, cash transfers etc.
Good luck & a happny new year !
Rickenbacker Al
Posted: 31 December 2017 17:59:00(UTC)
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Sara G;54385 wrote:
The website has recently undergone some changes and so far it's looking pretty good. If your portfolio is a reasonable size, you're holding OEIC's and not trading too frequently Interactive are definitely cost-effective - a £90 flat fee and you get 9 free trades per year.

But if cost is not the main factor, then you might want to look at HL for comparison - expensive, but there is free fund dealing.

If you mean closed-end funds (IT's) then HL are cheap - capped fee of £45 per annum, although there are no free trades (£11.95 per trade, £1.50 for monthly contributions).


Yes, that £45 cap on fees is an important factor as the size of your portfolio gets bigger; I think it only applies to IT holdings (which is all I have) - it certainly doesn't apply to funds, and never been quite sure about ETFs and OEICs?

The other points worth mentioning about HL are that (in my opinion, at least) compared with the competition their web site is very simple to use and their service is excellent.
Bestmate
Posted: 31 December 2017 23:00:14(UTC)
#14

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I like HL. Yes, sure they are a little more expensive, but I like the service, no hassle and human contact. Must admit I am watching closely with all the new accounts from Barclays they have taken on recently, but as long as they keep up their superb service levels, I will remain a customer.
Joe Soap
Posted: 01 January 2018 09:39:26(UTC)
#15

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Over the last year I have moved four ISA/SIPP portfolios away from HL. I am now about GBP 150 a month better off as a result.

The largest portfolio went to II and after problems transferring in (both HL and II caused issues) I find II hard to fault. And on a larger portfolio they are dirt cheap.

The three smaller portfolios were transferred to Close Bros. They are excellent. They charge 0.25% fee. I have no idea why I do not see others recommending them.

HTH
2 users thanked Joe Soap for this post.
B B on 01/01/2018(UTC), Tim D on 02/01/2018(UTC)
Steve L. Jones
Posted: 01 January 2018 09:40:28(UTC)
#16

Joined: 20/10/2017(UTC)
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Whatever else you do, don't even think of going to Barclays "Smart" Investor !
1 user thanked Steve L. Jones for this post.
huudi on 01/01/2018(UTC)
huudi
Posted: 01 January 2018 10:09:12(UTC)
#17

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The beauty of the ii website WAS the simplicity, sadly no more. The revamped site may be pretty at first glance but the layout and 'improved' graphics mean that ii have lost their edge and probably some custom. I found my 12" screen did not get a spreadsheet, instead a useless 'tablet' view while a 15" got a spreadsheet. After complaint this was 'fixed?. Not quite, while my 12" got the spreadsheet, the 15" became a tablet! The whole site is now slow and tedious whereas before it was simple with everything in easy reach. They now offer a 'tour' to offset the confusion. All of this is time-wasting but we are stuck with it because somebody created this mess and you WILL enjoy it, LIKE IT OR NOT.
I will be studying this forum for a replacement.

P.S. I have a Barclays 'smart investor' ha.ha! account. despite 3 written complaints to Barclays I have yet to receive the new login details, SINCE AUGUST? is this a record? I get replies saying '4 weeks', 'another 4 weeks'! etc. There must be complete chaos at Barclays, one letter or E-mail should have fixed it.
Mickey
Posted: 01 January 2018 11:58:11(UTC)
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huudi;54759 wrote:
P.S. I have a Barclays 'smart investor' ha.ha! account. despite 3 written complaints to Barclays I have yet to receive the new login details, SINCE AUGUST? is this a record? I get replies saying '4 weeks', 'another 4 weeks'! etc. There must be complete chaos at Barclays, one letter or E-mail should have fixed it.

That seems incredibly patient of you, I think that I would be causing quite a fuss if I had no access to my account since August.
huudi
Posted: 01 January 2018 12:28:22(UTC)
#22

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Mickey;54763 wrote:
huudi;54759 wrote:
P.S. I have a Barclays 'smart investor' ha.ha! account. despite 3 written complaints to Barclays I have yet to receive the new login details, SINCE AUGUST? is this a record? I get replies saying '4 weeks', 'another 4 weeks'! etc. There must be complete chaos at Barclays, one letter or E-mail should have fixed it.

That seems incredibly patient of you, I think that I would be causing quite a fuss if I had no access to my account since August.


I am causing a fuss but its water off a ducks back, I've written to 'complaints', 'head office' & 'customer enquries'. Each reply within 4 weeks with a letter quoting another 4 weeks. The last reply said I could ask the Ombudsman to sort it or wait a bit longer?! I am sure nobody has actually read my complaint, simply a stock reply. I know from experience that anything to the Ombudsman will be locked for years. My last resort is transfer out which is the subject of this blog. It annoys me more because I had this account since before it became Barclays. I wonder if they have earmarked older accounts for their 'slush fund'?
1 user thanked huudi for this post.
Mickey on 01/01/2018(UTC)
Mr Helpful
Posted: 01 January 2018 18:57:44(UTC)
#18

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huudi;54759 wrote:

P.S. I have a Barclays 'smart investor' ha.ha! account. despite 3 written complaints to Barclays I have yet to receive the new login details, SINCE AUGUST? is this a record? I get replies saying '4 weeks', 'another 4 weeks'! etc. There must be complete chaos at Barclays, one letter or E-mail should have fixed it.


Horrific experience !!!

One suggestion if not already tried, use the freephone telephone number and sit on the phone until they give the details needed.
And persist relentlessly, not taking no for an answer.
Some info might be withheld on security reasons initially, but the confidential info already in their possession from your old Barclays Stockbrokers account (which only you will know) should theoretically (incompetence excepted) be sufficient to permit the necessary log-in info to be given to you.
It worked for us to get that missing info in the lead up to the launch of so called SmartInvestor.
Following the launch it is anybody's guess (sigh).

Sincere sympathies.
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