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should I split part of my portfolio away from HL
Andrew Hirst
Posted: 11 March 2018 19:09:31(UTC)
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I've got £100K with Hargreaves Lansdown with £73K in a stocks & shares ISA and £23K in a fund and share account. Would I save on charges by moving one or other of them to another platform and making future contributions after the 6th April to the alternative provider? Thanks
Tom Mozy
Posted: 11 March 2018 19:34:10(UTC)
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Depends what you own.
Tyrion Lannister
Posted: 12 March 2018 00:08:18(UTC)
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Andrew Hirst;58541 wrote:
I've got £100K with Hargreaves Lansdown with £73K in a stocks & shares ISA and £23K in a fund and share account. Would I save on charges by moving one or other of them to another platform and making future contributions after the 6th April to the alternative provider? Thanks


If you own mainly shares, ITs and ETFs then it would cost you more in fees to invest new money with another provider.

If you invest in UTs/OEICs then you might save a little depending on who you invest with.

I’m thinking of switching platforms for investments from April onwards too, not too save money but because I’m a little uncomfortable having all my eggs in one basket.
Andrew Hirst
Posted: 13 March 2018 13:33:30(UTC)
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I can analyse my portfolio and it shows as 68% Funds (unit trusts & OEICs, 26.9% UK shares, 3.1% international shares.

I can't seem to analyse the stocks and shares ISA on the HL website , but I would estimate that it's probably only 20% shares at most. I read a post earlier in the year which said that over £50K in holdings HL are not the cheapest which is why I'm wondering about placing it elsewhere due to the total value.

Sara G
Posted: 13 March 2018 13:47:37(UTC)
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Your trading frequency is another factor... HL offer free fund dealing, so it could still be cheaper to stay if you trade a lot in funds. If you're more of a buy-and-hold investor then Interactive Investor, or another flat fee broker would save you significant sums over the long term.

I moved the bulk of my SIPP holdings to ii for that reason, but retained the HL account for frequent trading in funds, which I haven't done so much of lately as I'm mostly in ITs and shares now, but I like having the flexibility, as well as not having everything with the same provider.
Fuzzy Beats
Posted: 13 March 2018 13:55:01(UTC)
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Andrew Hirst;58637 wrote:
I can analyse my portfolio and it shows as 68% Funds (unit trusts & OEICs, 26.9% UK shares, 3.1% international shares.

I can't seem to analyse the stocks and shares ISA on the HL website , but I would estimate that it's probably only 20% shares at most. I read a post earlier in the year which said that over £50K in holdings HL are not the cheapest which is why I'm wondering about placing it elsewhere due to the total value.


It's the punitive .45% charge on fund holdings up to £250k that will eat into your capital wealth over the long term. Imagine investing in a cheap ETF or tracker fund that charges an AMC of .07% and then paying an additional seven times that just for the privilege of holding it with HL. Hence why I only hold shares and IT's with HL.
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dlp6666 on 13/03/2018(UTC), mcminvest on 13/03/2018(UTC)
Keith Hilton
Posted: 13 March 2018 14:21:47(UTC)
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Whilst the 0.45% AMC for funds held with HL seems expensive compared to some other platforms, it's also necessary to look at the ongoing fund charges as well. You may well find that HL have a lower annual fund charge, cancelling out some or all of the 0.45% AMC.

Try to compare the total of all charges for funds, on each platform that you're considering, before jumping ship.
3 users thanked Keith Hilton for this post.
dlp6666 on 13/03/2018(UTC), Mickey on 13/03/2018(UTC), john brace on 13/03/2018(UTC)
Tug Boat
Posted: 13 March 2018 17:29:09(UTC)
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FFS work it out yourself.

I am now sick of people asking which is the cheapest platform. Stop it.

Look at the charges and sort it out yourselves.

It is easy, but do the legwork yourself.

It is different how you invest, don't ask me...rant, rant, rant.

Sorry had enough of this now.
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Fell Walker on 14/03/2018(UTC)
Tug Boat
Posted: 13 March 2018 17:39:37(UTC)
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Sorry that was a bit rude
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dyfed on 14/03/2018(UTC)
philip gosling
Posted: 13 March 2018 17:46:23(UTC)
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Tug Boat;58652 wrote:
FFS work it out yourself.

I am now sick of people asking which is the cheapest platform. Stop it.

Look at the charges and sort it out yourselves.

It is easy, but do the legwork yourself.

It is different how you invest, don't ask me...rant, rant, rant.

Sorry had enough of this now.


Tug Boat - you need to make a better apology.


"Sorry" can people only ask questions you are interested in - Perhaps you should have a rest and do not read any new questions for a few months - do not get grumpy with new people it is very rude and totally unnecessary. You could use your comments about any question -sort it out yourself - Jeez.
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Aminatidi on 13/03/2018(UTC)
Tug Boat
Posted: 13 March 2018 18:00:04(UTC)
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This comes up time and time again. It is impossible to answer as it depends on so much.

I have apologised. I don't like being rude.

I don't know what to say, no one can answer this question. I am really, really fed up with it, along with "what is the best platform?" They all are except St James Palace.

My white charger is off his soap box now, so I will revert to my usual bollox.
TJL
Posted: 13 March 2018 18:00:05(UTC)
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.
Tug Boat
Posted: 13 March 2018 18:04:35(UTC)
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I am not influenced by anyone. FFS I'll shut up, you answer the impossible question.

Captain Slugwash
Posted: 13 March 2018 18:08:45(UTC)
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monevator.com/compare-uk-cheapest-online-brokers/

Good article. Easily found, so a slight sympathy for Tugboat. Must have been a long day :)

All you will get off us is experience based opinion. I chose AJ Bell over HL, who I think are expensive, and I don't do funds. Others will disagree.
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gillyann on 13/03/2018(UTC)
mcminvest
Posted: 13 March 2018 18:12:05(UTC)
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Andrew Hirst;58541 wrote:
I've got £100K with Hargreaves Lansdown with £73K in a stocks & shares ISA and £23K in a fund and share account. Would I save on charges by moving one or other of them to another platform and making future contributions after the 6th April to the alternative provider? Thanks


Andrew, it very much depends on the amount of dealing you are doing which you probably well know from building up your nice portfolio. I am with Halifax and just have to bear charges for now while I 'get the money in'. But they do have a trading 'sale' once a month for a couple of hours that they kinda keep quiet. It basically drops the dealing charges (on UK & International shares) to £3.95 per deal than the usual £12.75. May help, good luck!
Mickey
Posted: 13 March 2018 22:22:07(UTC)
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Andrew Hirst;58541 wrote:
I've got £100K with Hargreaves Lansdown with £73K in a stocks & shares ISA and £23K in a fund and share account. Would I save on charges by moving one or other of them to another platform and making future contributions after the 6th April to the alternative provider? Thanks

If you are a fund investor then you may save some money but not definitely once you factor in dealing costs, discounts etc. If you move then remember HL tend to be a little more expensive above around 35k in funds. Personally I would save the money by staying with HL and switching to Investment Trusts. These are free to hold in the Fund & Share account and just £45 a year for an ISA.

It may be worth thinking of taking a second account elsewhere due to the 85k protection but I don't think that is too relevant. Stocks/Funds are not held with HL but with the company itself.

For clarity, I am with HL.
philip gosling
Posted: 13 March 2018 22:30:27(UTC)
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Tug Boat;58657 wrote:
This comes up time and time again. It is impossible to answer as it depends on so much.

I have apologised. I don't like being rude.

I don't know what to say, no one can answer this question. I am really, really fed up with it, along with "what is the best platform?" They all are except St James Palace.

My white charger is off his soap box now, so I will revert to my usual bollox.





Good
Tyrion Lannister
Posted: 14 March 2018 00:27:15(UTC)
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Tug Boat;58657 wrote:
This comes up time and time again. It is impossible to answer as it depends on so much.

I have apologised. I don't like being rude.

I don't know what to say, no one can answer this question. I am really, really fed up with it, along with "what is the best platform?" They all are except St James Palace.

My white charger is off his soap box now, so I will revert to my usual bollox.


I do understand why you’re pissed off with threads like this,.

The simple answer is, if you don’t like it then ignore it. Why bother replying then feeling the need to apologise after?

Just roll your eyes and move on...:)
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dyfed on 14/03/2018(UTC)
Alan Selwood
Posted: 14 March 2018 00:50:17(UTC)
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For the benefit of newcomers to the forum:

If any poster, for whatever reason, leaves a bad taste in the mouth, you can always block all posts from that person.

Note that this does not remove that person's comments when they are quoted within other people's posts!
B B
Posted: 14 March 2018 09:14:45(UTC)
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Tug Boat;58657 wrote:
This comes up time and time again. It is impossible to answer as it depends on so much.

I have apologised. I don't like being rude.

I don't know what to say, no one can answer this question. I am really, really fed up with it, along with "what is the best platform?" They all are except St James Palace.

My white charger is off his soap box now, so I will revert to my usual bollox.




And what's that, being a total backside!
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