Alaric wrote:Julian wrote:
As an extra bit of info maybe of interest to some. I had been considering closing the taxable account so a couple of months ago I called ii and asked what would happen if I closed the taxable account, in particular was there some other way that I could pay my fees if I only had an ISA account with them because I didn't want money (the monthly fees) draining out of my tax wrapper if I could avoid it.
Alternatively remove all the stocks but leave the taxable account in place and set up a mechanism to finance it with amounts required to pay the fees.
Yes, that's another possibility. Essentially it would be how I fund my ATS account at the moment. I have a monthly standing order paying into my "Fees" sub-account at ATS. The empty ii trading account essentially becomes the equivalent of the old ATS "Fees" sub-account. That would definitely work for others but for me personally I try to close out empty accounts so I prefer to go the direct-debit route.
It's not going to be a problem for me for a while because with this ATS takeover rather than being closed that trading account is now about to get a whole lot bigger when all my ATS shares come across and I consolidate them into that account. It'll only be if/when I decide to transfer all of that out to another broker that I need to change the fee payment arrangements.