Iām very interested in JISA - I suspect some of your users have or might eventually end up with children, so that market will (literally) grow over time. Iām moderately interested in LISA as well, but at this point wouldnāt be benefitting that much from it.
Iām a bit worried about your planned fee structure for SIPP, but if it does not end up competitive or worthwhile, Iāll just stick to my current provider and not transfer my pensionsā money to 212 platform.
Looking forward to new features and hope to be able to use them in the future.
Interesting article in the Sunday Times today which contains this table about SIPP fees. There are many other things to consider such as the range of investments available on each platform (Vanguard has only Vanguard funds), and currency conversion fees (interactive Investor 1.5%.) Fees are more complex than this table can show (some platforms have different fees for holding funds vs stock and shares). This gives an indication of what Trading 212 has to beat.
I completely agree. It is impossible to compare brokers with a single number where there is so much fine print. I have sipps in HL and II and since I hold only ETFs and stocks in HL the annual fee is capped at Ā£200 so I pay less in HL compared II, despite the percentage vs flat fee.
Main reason I hate both companies is the 1.5% FX fee. and it is the main reason I keep asking about in-specie transfers
I am gonno say this table is intentionally misleading.
I had a workplace pension with Scottish Widows and I think their fee is high because they only had actively managed funds. (might be different today)
I agree the table may be misleading. It depends on what investments you want to hold and the total size of your holdings. If funds are your thing and you have a large pot then Interactive Investor might be best, but it is put at bottom of the table.
Like you, the fx fee on non GBP share holdings is what would incentivise me to transfer away to a Trading 212 alternative offering.
perhaps, but they missed my meeting twice and never bothered to arrange another one for me to read over the specifics. I now have 2 work pensions with only the new one getting fresh funds and need to figure out by myself the moving them to the best possible security.
Am I right in thinking the FSCS Ā£85,000 protection would apply across all Trading212 products - i.e. the total of Invest + ISA + future SIPP accounts, rather than Ā£85k for each account?
I have exhausted all of my ISA allowance fr this current tax year in my Trading212 S&S ISA. Hopefully Trading 212 SIIP account will be available before the current tax year end.
I understand I could have up to Ā£40.000 or up to maximum taxable salary, whatever is the greater in any tax year. So, I estimate I still have around Ā£20.000 to top-up my SIIP account.
I want to transfer part of S&S ISA in trading 212 to my SIIP account to gain 20% to up from HMRC so in this case I will have additional 20% my SIPP t be used for swing trading.
Does anyone know what is the best way to transfer from Trading 212 SIIP?
Do I need to sell my share in Trading 212 and then transfer it to Trading 212 SIIP (if already available)?
If you have any better suggestion it will be very much appreciated.
give them a chance