S&S ISA Charges - are my calcs correct?
Discussion
I currently have a First Direct S&S ISA and I'm thinking about transferring it to Vanguard. However I think I'd be paying a lot more in charges under Vanguard than I do with First Direct.
At the moment FD charge a quarterly fee of £10.50. There's also a £10.50 charge every time I buy/sell shares (which I probably do 10 times a year) That works out to roughly £145.
AIUI Vanguard would charge 0.22% of the amount invested. Hypothetically for £200k the annual charge would be £440 but there are no dealing charges.
Surely I'm better off sticking with First Direct?
At the moment FD charge a quarterly fee of £10.50. There's also a £10.50 charge every time I buy/sell shares (which I probably do 10 times a year) That works out to roughly £145.
AIUI Vanguard would charge 0.22% of the amount invested. Hypothetically for £200k the annual charge would be £440 but there are no dealing charges.
Surely I'm better off sticking with First Direct?
Which fund are you looking at buying?
With Vanguard there's a fund fee (which you'd pay regardless of where you hold the fund) and a platform fee which is 0.15% capped to a maximum of £375.
It's all published here.
https://intl.assets.vgdynamic.info/intl/ukpi/docum...
As you've discovered the frequency you buy at and the value of your portfolio can mean different platforms work out far better or worse value to hold exactly the same funds
With Vanguard there's a fund fee (which you'd pay regardless of where you hold the fund) and a platform fee which is 0.15% capped to a maximum of £375.
It's all published here.
https://intl.assets.vgdynamic.info/intl/ukpi/docum...
As you've discovered the frequency you buy at and the value of your portfolio can mean different platforms work out far better or worse value to hold exactly the same funds
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hstewie said:
hstewie said: Which fund are you looking at buying?
With Vanguard there's a fund fee (which you'd pay regardless of where you hold the fund) and a platform fee which is 0.15% capped to a maximum of £375.
It's all published here.
https://intl.assets.vgdynamic.info/intl/ukpi/docum...
As you've discovered the frequency you buy at and the value of your portfolio can mean different platforms work out far better or worse value to hold exactly the same funds
Cheers. I was intending on buying more VG ETFs. I hadn’t realised that the fees were capped.With Vanguard there's a fund fee (which you'd pay regardless of where you hold the fund) and a platform fee which is 0.15% capped to a maximum of £375.
It's all published here.
https://intl.assets.vgdynamic.info/intl/ukpi/docum...
As you've discovered the frequency you buy at and the value of your portfolio can mean different platforms work out far better or worse value to hold exactly the same funds
Countdown said:
Cheers. I was intending on buying more VG ETFs. I hadn’t realised that the fees were capped.
For the amount held and and the frequency of buys that you've mentioned it looks like FD would be cheaper.You could maybe look at II and IWEB but the fund fees will be the same whatever platform you use.
It's annoying just how much difference platform fees can make and slightly bizarre how much it can cost to do the exact same thing on one platform compared to another.
Countdown said:
I currently have a First Direct S&S ISA and I'm thinking about transferring it to Vanguard. However I think I'd be paying a lot more in charges under Vanguard than I do with First Direct.
At the moment FD charge a quarterly fee of £10.50. There's also a £10.50 charge every time I buy/sell shares (which I probably do 10 times a year) That works out to roughly £145.
AIUI Vanguard would charge 0.22% of the amount invested. Hypothetically for £200k the annual charge would be £440 but there are no dealing charges.
Surely I'm better off sticking with First Direct?
FD charges you £42 a year for the account and £10.50 per trade (remember a trade is a buy OR sell, selling a holding to buy another one is two trades). On the basis you trade 10 times a year this is £147 a year.At the moment FD charge a quarterly fee of £10.50. There's also a £10.50 charge every time I buy/sell shares (which I probably do 10 times a year) That works out to roughly £145.
AIUI Vanguard would charge 0.22% of the amount invested. Hypothetically for £200k the annual charge would be £440 but there are no dealing charges.
Surely I'm better off sticking with First Direct?
Vanguard charge 0.15% capped as alread stated. with no dealing charges. On £200k this is £300 a year.
Your funds are always on top of this and usually (though not always) the same regardless of the company you use to hold them.
So on the face of it you are much better off from a pricing perspective (to the tune of £153 a year) staying with FD (assuming your trading numbers are correct in light of the above).
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