Stocks and Shares ISA with HL

[goodhearts]

Hi, I have started recently investing into S & S ISA with HL, Moderately adventures managed fund. I pay £400 pm started last month, I don’t understand how much will be the fees. I have attached some screenshots. I also have Lifetime ISA with moneybox where I can see where exactly the funds are invested to. I don’t want the money to erode over the time as very average person with little savings. Please advise.

bump

HL in my opinion is a bit of a dinsosaur when compared to other platforms when it comes to both features and fees. You may not need or require many of the features of some other platforms like Invest Engine and T212 if you don't want to buy individual stocks etc.

Is there are particular reason you have opted for a managed fund over a passive fund? The fees paid are going to be higher for a managed fund.

I've not used HL for probably ten years so I'm not fully up to speed with their charges. It looks like there was a 3% initial charge of your portfolio which they seem to have waived. There looks to be a 0.88% ongoing charge which will be annual on the basis of your portfolio size. 0.8% isn't too bad for a managed fund, but compared to a passive global ETF which can had on T212 and Invest Engine for as low as 0.15%. It doesn't sound a lot, and it isn't if you have a relatively small portfolio but it can add up over years of investing.

Not saying what you are doing is wrong, but what was your rational for HL as a platform and picking this particular fund?

@Hitchens I selected it as i was not sure how the whole thing works , very new to investments. My pensions are in managed funds so i have followed the same lead.

I have the same fund,along with other different ones and individual shares.your post prompted me to check.If you go the charges tab of the fund you will find the information. Their annual fees are showing as 1.52%. Which to me is high and I am now tempted to sell.

HL charges 0.45% for any fund investments: hold £1000 it’s £4.5, hold £10k it’s £45.

. The fund itself will have a separate fee, which you will never see as they (the company who manage the fund) will take it out themselves. However, over the long, long term fees will have a big impact on your returns. Vanguard have a 80:20 fund with a similar allocation to the fund you’re holding and charge 0.22% v 0.88% your fund charges, but theirs is a tracker whilst yours is a managed fund.

HL charge 0.45% or £45 (whichever is lower) for holding ETFs shares/ investment trusts. So, it you investment enough, it might be worth switching to these to save yourself some serious money. HL charge £12 to buy or sell ETFs but there is no cost to purchase if you do it via DD.

Thank you @TonnnnnnShall i open Vanguard ISA and transfer it across? Not sure how much HL going to cost me for exit charges. I have only invested £400 so far

Just looked at Vanguard, it looks very straightforward

Vanguard is fine. I have a sipp there.

they are a well regarded name in the industry.

couple of things to note is that they have revent changed their fees making them relatively higher for people with less than 30k invested. And you can only select vanguard products for investment. This isn’t a problem in itself as sounds like you are looking for a diversified fund and not buying individual shares.
its worth looking into t212 and invest engine as they are probably two of the lower cost options available and they have more features on their platform.

check out meaningful money on YouTube as there is lots of really good content on that channel.