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My friend had his shares in an isa with orca , who I’ve never heard of. He said they went out of business and his shares were forced into his normal trading/general investment account and then told to transfer to another provider.
If that’s true and possible, it makes the case for dealing with someone like Halifax , Barclays HL etc a better choice . The isa is for the long term, not to be kicked out of
Https://www.lovemoney.com/news/36713/cheapest-ways-to-sell-paper-share-certificates
DODL is simply a 0.15% management fee per annum with no other charges. I agree with Fleccy that it might not be an ideal charging structure if you've hundred of thousands of pounds invested (I wish) but when you consider that some of the most competitive managed funds charged 0.15% management fee (with often other charges on top of you've used a financial adviser) - I didn't think that the fees were too bad
I was paying a heck of a lot more when I held my ISA with Quilter spread across a portfolio of managed funds ...
DODL doesn't provide access to a full list of shares (only a subset of the most popular) but it's very easy to use via an app and the ability to buy and sell very small quantities of shares (eg: 1 x BT share every day if you want) then it's quite compelling....
It's definitely worth looking at ... Especially if you like buying and selling shares in small quantities on a very regular basis ....
They offer ISA, Pension and General Investment accounts and they also let you invested in a subset of managed funds as well as UK (and a subset of USA) shares ....
And before anyone asks .... I don't work for them ... But I have been a fan of them for some time!
Silly question but any one know where some one with old share certificates can sell BT shares without setting up some account and paying monthly charges etc?
Halifax charge £9.50 to buy £9.50 to sell. Trenners said no dealing costs with Dodl. If you buy and sell 40 times a yr halifax would cost £380 in dealing costs
Caught a bit of this today - dear Lord, Crozier is a charlatan. I'm the context of the post office, he looks awful. Poor recollection, no accountability. In the context of everywhere else he's worked - a miserable run - not a single success from what I can see. Almost car crash disasters. And then BT. What's he doing? How and why was he appointed? Shifty, grifting no-mark. He should be unemployed. And possibly criminally investigated.
Correction:
"If you both grew your portfolio's to £50,000 each, your combined admin charges would total £150.00, going up to £300.00 if you subsequently grew the portfolios" to a £100,000 each, totaling £200,000.
As an example of what I'm talking about, the Halifax administration charge is £36.00 a year, so would add up to £72 for you and your wife no matter how large your portfolio is; At AJ Bell, for you and your wife, the total admin charge for portfolio's of just £25,000 in each of your ISA's would incur management charges of £37.50 each, totaling £75. If you both grew your portfolio's to £50,000 each, your combined admin charges would total £150.00, going up to £300.00 if you subsequently grew the portfolios to a total of £100,000.
A 0.15% annual management fee would be nearly 10 times our current combined administration charge. The fee's would soon clock up once your portfolio goes into the hundreds of thousands.
I use DODL (run by AJ Bell) as a platform for my ISAs and pay ZERO dealing costs (only stamp duty) but there is a 0.15%/annum platform management fee - charged monthly.
This gives us the flexibility to buy and sell as many times as we like for 0 fees and 0.15% fee per annum is below what a large majority of managed funds cost ...
We mainly use ISAs to hold dividend yielding stocks (like BT) so the tax saved on dividends and capital growth more than easily covers the small admin charges
BT investing alot of money in fibre, which won't stop till 2029.
Just to further clarify, we both use HL fund & share (other companies and setups are available!).
Hi fleccy, yep you sussed why... it is because so far mine and my wife's investments have been relatively small with income + capital gains falling within the 22-23 & 23-24 allowances.
Naturally its early days for this tax year, and allowances have been reduced, therefore if we were to have lucky windfalls this may generate some tax owed. Conversely though, if my wife and I had ISA'S with our gains within the thresholds then potentially we could have paid admin charges etc for no tax advantage whatsoever. I suppose our thoughts are that if we receive an unexpected large windfall and the taxperson takes a little slice then that's kinda okay by us... rather it that way than paying annual admin fees to a business for little benefit to us or the taxperson either!
Just mine and my wife's personal opinion really. Definitely not a recommendation for anyone here to alter their approach to either utilise, or not utilise, their ISA allowance.
Sometimes it's worth selling at a loss if you can you the money better elsewhere and the price seems like it will stay that way for awhile plenty of time to buy back in and not make a loss. i think if you can get bt for £1.04 a share you can make money on the days it hits £1.09
I've been averaging at £1.35 for nearly a year now. I'm hesitant to buy more to average down, fearing the price might drop below £1. While I understand investing in stocks involves guesswork and luck, do you think there's a chance for it to approach £2? I've checked forecasts from reputable sources like the FT, but they seem unreliable. What's your take on this?
Like BisKit, I use iWeb; it costs absolutely nothing apart from £5.00 per transaction.
The web interface is very '90s and not all funds are available but for me it's ideal.
Savage can you expand on what you mean? Me and my wife have share dealing ISA's and pay yearly administration charges, and commission fees on any trades, but that's it. The tax we save through using ISA's makes the administration and dealing commission charges pale into insignificance.
You can directly invest in stocks using ISA's, just like you can with a standard share dealing account, the only time it isn't worth using ISA's is if you're investments are small with any income and capital gains falling within the current allowances.
Think iWeb only had joining free (currently being waived) and transaction fee. No platform / management fee for equities.
ISA's receive much coverage & interest from general public (anything with a tax free label stuck onto it will always tend to) but... the more I learn about stock markets the more I see ISA's as a nuisance, esp the drip of fees siphoned off to a faceless business year on year... For me personally, after weighing pro's v cons, I'm currently preferring direct investing, even though I am doing so with amounts which could fit within an ISA wrapper... Totally recognise that many would completely disagree and they enjoy what the ISA wrapper offers them.
Derivatives and the various manufactured vehicles to short or bet on stocks rising are part of the big player manipulation toolbox, in my opinion; In addition there are various ways to trade Off Book (non price setting) and On Exchange (price setting).
The stock markets are a casino with the big players being the house, they can control order flows and use algo's to drive prices in whichever direction they want. I suspect the main reason various vested interests are campaigning to get rid of stamp duty, on UK trades, is because it adds to the cost of algorithmic high frequency trades where they have to move the price at least 0.5% before they can realise a profit. As an investor and not a trader, the 0.5% stamp duty is of little importance to me, since I invest for dividend returns over the longer term and the 0.5% is resolved with the first dividend payout. Personally I couldn't care less if the Government phase out stamp duty on stocks, as I don't see that raising prices; What I would like to see is ISA's only allowing UK listed stocks and various tax incentives to encourage Funds to invest in, and hold, UK listed stocks.
Now beginning to look like a way of avoiding the purchase tax.
Canny financiers.
You can see similar with EasyJet ....loads of cash swaps done through Bank Of America/Merrill Lynch
https://www.lse.co.uk/rns/EZJ/holdings-in-company-phcf1kb9tz07oo2.html
Biskit - the language is deliberately not printed in 'plain English' because that way the investment industry can push laypersons into being hands off investors and therefore forever piping a proportion of 'their investment gains' into the pockets of fund managers and their staffers who get to drive around in fancy cars, frequent them exclusive clubs with their supply of marching powder in hand, and jet the globe of luxury breaks.
" Sounds like Shorting then. P.c."
well it is a different form of trying to benefit/have exposure to a share , through a contract, whilst not having to actually buy them .... shorting, CFDs, Options , cash swaps etc