Question
I am looking for a all singing all dancing isa, where I can trade ETFs, shares (including international), Investment Trusts and funds.
If that wasn't enough, I also want to have the facility to drip feed monthly into some automatically as well.
I am currently with Alliance Trust, they have a facility to do monthly trades. But it is convoluted (sending faxes) to set up this facility within my ISA and costly , I have been looking at Cavendish Online and iii, biggest problem is knowing what is available to trade, a good selection of Investment Trusts is desirable but would also like to trade in obscure ETFs like iShares MSCI Japan Monthly EUR Hedged (IJPE) for example.
I would like to buy and sell a few times a quarter, but also place monthly amounts into some funds and shares as well. Portfolio is over 100K.
Am i expecting too much, can I have my cake and eat it?
What do you suggest?Answer
Provided a platform allows share trading then you should be able to trade all investment trusts and exchange traded funds (ETFs) available via the London Stock Exchange, even fairly obscure ones.
Alliance Trust Savings actually sounds quite well suited to your needs. The standard trading fee of £12.50 is a bit steep versus others (and it applies to funds too), but less of an issue if you only trade a few times a quarter. The monthly dealing fee of £1.50 is very competitive and once a monthly direct debit is set up it should run smoothly with the minimum of fuss. The annual ISA platform fee of £48 is very good value for a £100k+ portfolio and annual fund charges should be very competitive due to being ‘clean’ priced (i.e. no commission or platform fees are built in)
Interactive Investor is broadly comparable on overall cost but has a wider range of funds on offer. Fund charges are generally higher but rebates bring these back down towards ‘clean’ levels. The £20 quarterly platform fee includes 2 free trades, so shouldn’t be an issue in your case. £1.50 monthly dealing is also available.
Charles Stanley Direct charges an annual 0.25% platform fee (capped at £150 for shares/inv trusts/ETFs) but offers a good range of 'clean' priced funds (with no dealing fees) along with share trading at £10 per deal (although no low cost monthly option). Sippdeal is also well worth a look, with £9.95 share dealing and no additional ISA fee.
All the above generally offer good value for money and may well suit your needs. Cavendish Online doesn't offer share trading, so not a viable option in this instance.
As the platform market is evolving quite quickly, on balance perhaps sit tight with Alliance Trust Savings for now and review again in six months to see whether another platform comes along with a better deal, as at present I don't think there's much in it.
I am looking for a all singing all dancing isa, where I can trade ETFs, shares (including international), Investment Trusts and funds.
If that wasn't enough, I also want to have the facility to drip feed monthly into some automatically as well.
I am currently with Alliance Trust, they have a facility to do monthly trades. But it is convoluted (sending faxes) to set up this facility within my ISA and costly , I have been looking at Cavendish Online and iii, biggest problem is knowing what is available to trade, a good selection of Investment Trusts is desirable but would also like to trade in obscure ETFs like iShares MSCI Japan Monthly EUR Hedged (IJPE) for example.
I would like to buy and sell a few times a quarter, but also place monthly amounts into some funds and shares as well. Portfolio is over 100K.
Am i expecting too much, can I have my cake and eat it?
What do you suggest?Answer
Provided a platform allows share trading then you should be able to trade all investment trusts and exchange traded funds (ETFs) available via the London Stock Exchange, even fairly obscure ones.
Alliance Trust Savings actually sounds quite well suited to your needs. The standard trading fee of £12.50 is a bit steep versus others (and it applies to funds too), but less of an issue if you only trade a few times a quarter. The monthly dealing fee of £1.50 is very competitive and once a monthly direct debit is set up it should run smoothly with the minimum of fuss. The annual ISA platform fee of £48 is very good value for a £100k+ portfolio and annual fund charges should be very competitive due to being ‘clean’ priced (i.e. no commission or platform fees are built in)
Interactive Investor is broadly comparable on overall cost but has a wider range of funds on offer. Fund charges are generally higher but rebates bring these back down towards ‘clean’ levels. The £20 quarterly platform fee includes 2 free trades, so shouldn’t be an issue in your case. £1.50 monthly dealing is also available.
Charles Stanley Direct charges an annual 0.25% platform fee (capped at £150 for shares/inv trusts/ETFs) but offers a good range of 'clean' priced funds (with no dealing fees) along with share trading at £10 per deal (although no low cost monthly option). Sippdeal is also well worth a look, with £9.95 share dealing and no additional ISA fee.
All the above generally offer good value for money and may well suit your needs. Cavendish Online doesn't offer share trading, so not a viable option in this instance.
As the platform market is evolving quite quickly, on balance perhaps sit tight with Alliance Trust Savings for now and review again in six months to see whether another platform comes along with a better deal, as at present I don't think there's much in it.
Read this Q and A at http://www.candidmoney.com/askjustin/839/best-all-round-platform-isa
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