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TD sold

Discuss Brokers, trading, fees, experiences
dspp
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Re: TD sold

#85394

Postby dspp » October 3rd, 2017, 1:50 pm

Julian wrote:
paulnumbers wrote:
Alaric wrote:
Are they not intending to switch to a model where they charge a quarterly fee, but offset it against dealing commissions?


This is the info I can find on the future pricing.

An update on your future service - https://www.youtube.com/watch?v=GTW1VLI90js

Pricing made simple - https://www.youtube.com/watch?v=FZDKeOkSNAQ&

If you watch them, they describe a quarterly commission payment that you can offset against fee's. I've decided to sign up with Halifax Sharedealing instead, as I'm guessing the commission will be around the £20 per quarter which I'd rather not pay unless I have to.


Nice spot Paul re future pricing clues. TDD has had an inactivity fee for a long time that I always escaped due to portfolio size but I somehow doubt that such an exemption will survive the shift to any new II fee structure. At least it looks as if they won't go the Barclays route of having a percentage-of-portfolio-value admin fee.

If it is something like £20 a quarter I'll probably stay put with my ISA because I do trade that when I put in new money each year and with accumulated dividends but I'll probably move my other non-tax-sheltered account unless they only have one quarterly fee regardless of number of accounts held.

I wonder whether your £20 per quarter guess was arrived at by the same route as mine. Watching that pricing video when they talk about levying a quarterly fee two blue coins jump out of the jar and later, towards the end of the video, they say that if all the fees have been used up for trades then it's £10 or less per trade and at that point another blue coin appears with "£10" written on it which is why I'm guessing the £20 per quarter as the new admin fee.

- Julian


I am with III which has bought TD, and which you know has a £20/qtr fee that can be set against free trades (works out as two per qtr). I have three accounts with them (trading, ISA, SIPP) and I only get charged the one £20 fee. I can use the free trades in any of the three accounts. Hopefully the arrival of you new TD types will not cause III to fiddle with a fee structure that works very well for me :)

regards, dspp

Julian
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Re: TD sold

#85412

Postby Julian » October 3rd, 2017, 2:43 pm

dspp wrote:I am with III which has bought TD, and which you know has a £20/qtr fee that can be set against free trades (works out as two per qtr). I have three accounts with them (trading, ISA, SIPP) and I only get charged the one £20 fee. I can use the free trades in any of the three accounts. Hopefully the arrival of you new TD types will not cause III to fiddle with a fee structure that works very well for me :)

regards, dspp


Thanks. That sounds pretty OK to me. Given that I do trade in my ISA that's probably about break-even on an annual basis for me, or maybe a maximum of £20 a year worse off, so I won't be jumping ship if it stays the same as you describe. It's also reassuring that on the pricing video they explicitly criticise percentage-based admin fees which makes me think that the chances of them "doing a Barclays" with some horrendous (at least for me) new percentage-based fee structure is unlikely.

- Julian

BobbyD
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Re: TD sold

#85578

Postby BobbyD » October 4th, 2017, 6:28 am

Great, now I need another ISA provider with no quarterly fees... and I've already opened an ISA this year.

Darka
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Re: TD sold

#85599

Postby Darka » October 4th, 2017, 8:48 am

I'll consider staying with them subject to them also adding the ability to payaway dividends which I believe II have, otherwise I'll have to move as I want all my accounts to have automatic payaway.

Not mentioned in the videos, so will wait and see.

paullidd
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Re: TD sold

#85639

Postby paullidd » October 4th, 2017, 11:32 am

Do any Fools have experience of using X-O.co.uk?
I was have just read a bunch of not so good reviews, but they were all from 2010-2013, couldn't find anything more recent.

I have a personal ISA with TD and two JISAs, so not so happy about the charging structure proposed.

All advice welcome :D

Cheers
Paul

Dod1010
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Re: TD sold

#85641

Postby Dod1010 » October 4th, 2017, 11:46 am

I have just had an email from II telling me that they will simply be rebranding the TD platform and except for some enhancements there will be no change to the platform if we are currently a TD customer. That is good news to me and I do not think their charging structure is anything to worry about. It would be good if they had a payaway facility but that is the least of my needs so I guess I will stay with them.

Dod

paullidd
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Re: TD sold

#85664

Postby paullidd » October 4th, 2017, 12:42 pm

The plan is not to really trade much in my ISA, and definately not in the JISA just hold Trackers, So £80 per annum is a bit of a hit especially on the kids accounts.

dspp
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Re: TD sold

#85677

Postby dspp » October 4th, 2017, 1:03 pm

paullidd wrote:The plan is not to really trade much in my ISA, and definately not in the JISA just hold Trackers, So £80 per annum is a bit of a hit especially on the kids accounts.


I look after some accounts for children etc. They do each attract £80/yr in charges. For me/them it is worth using III for administrative ease. I agree it is an obstacle but I guess there are min costs for them in providing a service, and they have to price some way.

regards, dspp

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Re: TD sold

#85723

Postby BobbyD » October 4th, 2017, 4:02 pm

dspp wrote:
paullidd wrote:The plan is not to really trade much in my ISA, and definately not in the JISA just hold Trackers, So £80 per annum is a bit of a hit especially on the kids accounts.


I look after some accounts for children etc. They do each attract £80/yr in charges. For me/them it is worth using III for administrative ease. I agree it is an obstacle but I guess there are min costs for them in providing a service, and they have to price some way.

regards, dspp


I have no objection to them earning a crust, I just don't intend to be the one paying for it while others will allow me shelter from the storm for free.

MY TD ISA is well over the FSCS limit, and so I have no intention of further adding to it, so the free trades are of no benefit, and I've already moved non-taxable stuff on the expectation of this happening.

Anybody looking for a move to a free harbour might find this thread useful: viewtopic.php?f=26&t=4022

..and if you want to check FCA coverage for your new home: https://register.fca.org.uk/shpo_search ... 1nht7eg7tr

It does look rather as though this is the way of the future though, I wonder how many years we might be buying ourselves.

Dod1010
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Re: TD sold

#85729

Postby Dod1010 » October 4th, 2017, 4:19 pm

The fees charged by the new incarnation of TDI are going to be a flat £20 per quarter as I understand it. On a portfolio of £100,000 that is 0.08% per annum, hardly a King's ransom even if you do not trade in a year. A payaway facility is well down my list of concerns, handy though it is. II say that they intend to continue with the TDI platform following the rebranding and I must say I find it very good.

AS for being over the FSCS limit well if you are living off your dividends as I am that is a given and there is not much I can do about it. My main ISA is with ATS (another with a flat fee) but I am building up the TDI one to spread the risk a bit.

Dod

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Re: TD sold

#85764

Postby Lootman » October 4th, 2017, 5:42 pm

BobbyD wrote:MY TD ISA is well over the FSCS limit, and so I have no intention of further adding to it, so the free trades are of no benefit.

Even if this is a dormant ISA that you are not adding new money to, you might still need to perform trades, e.g. to reinvest dividends, or to respond to corporate actions.

I actually think that twenty quid a quarter is trivial, especially since it's a credit against commissions. I suppose if you have a lot of small accounts it's an issue, although have TD said the charge is per account rather than per account holder?

I certainly would not move a large account just because of that if I were otherwise happy, and I suspect that whoever you move it to will do something similar in the future. My real fear was that the platform was going away and it would appear it is not, thankfully.

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Re: TD sold

#85783

Postby BobbyD » October 4th, 2017, 6:23 pm

Lootman wrote:
BobbyD wrote:MY TD ISA is well over the FSCS limit, and so I have no intention of further adding to it, so the free trades are of no benefit.

Even if this is a dormant ISA that you are not adding new money to, you might still need to perform trades, e.g. to reinvest dividends, or to respond to corporate actions.

I actually think that twenty quid a quarter is trivial, especially since it's a credit against commissions. I suppose if you have a lot of small accounts it's an issue, although have TD said the charge is per account rather than per account holder?

I certainly would not move a large account just because of that if I were otherwise happy, and I suspect that whoever you move it to will do something similar in the future. My real fear was that the platform was going away and it would appear it is not, thankfully.


I had more than I should have had with TDD anyway, so the change in ownership meant I was always going to make some changes. I'd already moved foreign holdings for a far better fx charge, and the stuff I used to hold in TDD for SCRIP, and now my taxables have been moved elsewhere in expectation that this would happen. What is left is a handful of sizeable holdings in an ISA generating cash for transfer to be invested elsewhere which is still further in excess of FSCS cover than I am comfortable with and I stand to gain absolutely nothing from paying the fee.

Other brokers might well do the same, like I said this appears to be the future but the number of holdings is small enough that a years saving will pretty much cover transfer fees if they need to move again because of the dreaded % fee, and transfers out are still (atm) free.

paulnumbers
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Re: TD sold

#85842

Postby paulnumbers » October 4th, 2017, 10:39 pm

Julian wrote:I wonder whether your £20 per quarter guess was arrived at by the same route as mine.
- Julian


I like your way of working it out, but I just assumed it would be the same as iii ;-)

http://www.iii.co.uk/shares/charges

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Re: TD sold

#85877

Postby paullidd » October 5th, 2017, 7:07 am

Dod1010 wrote:On a portfolio of £100,000 that is 0.08% per annum, hardly a King's ransom even if you do not trade in a year.

Dod


Yes if only that was the level I was at. With a portfolio of £20,000 it's now 0.4%, Or on the JISAs with only £4200 it's 2%, which is a king's ransom when invested in funds with much lower total costs.

TDI's platform fee for holding Funds was/is 0.3%.

Regards
Paul

Julian
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Re: TD sold

#85939

Postby Julian » October 5th, 2017, 10:56 am

paulnumbers wrote:
Julian wrote:I wonder whether your £20 per quarter guess was arrived at by the same route as mine.
- Julian


I like your way of working it out, but I just assumed it would be the same as iii ;-)

http://www.iii.co.uk/shares/charges


Ah. Thanks.

Typical me - overthinking things again :)

- Julian

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Re: TD sold

#87807

Postby GPhelan » October 13th, 2017, 12:21 am

Anyone wanting to understand the costs and benefits of different investing platforms could benefit from the report "Come and Have a Go" from the LangCat consultancy. It is free, as in free beer, with no advertising or followup, other than an email announcing the next version. The 2017 version was released in July and is here:
https://www.langcatfinancial.co.uk/prod ... go-served/
The cost 'heat maps' that appear in this report are often reproduced in the financial pages.

Earlier editions are also available at the same link. Each has a different emphasis, since the Langcat assume you read them all. The 2014 version is especially good on explaining the basics of investing via a platform.

Disclaimer - I have no connection with the Langcat!

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Re: TD sold

#89642

Postby heathmount » October 20th, 2017, 7:37 pm

Hi

I'm late to the party here and have just realised iii is moving to the TDDI platform. According to the message from iii they have no plans to change their pricing model which is fair enough as I don't currently have an issue with it.

I've just been onto the TDDI website to look at their charges and I must be reading this wrong as they say for a stocks & shares ISA I'll pay no account fees if my portfolio is over £5,100 or have an regular investment setup. Now this sounds too good to be true. Even if it isn't true, the £36 per year is a lot lower than the £20 per quarter at iii. Or is it that TDDI don't allow you to offset the account fees against trading commissions?

I'm an infrequent trader, trading 3 or 4 times a year via the regular investment service so it looks like in terms of charges and commissions I'll end up paying less with TDDI (not much but every little helps).

heathmount

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Re: TD sold

#89644

Postby Alaric » October 20th, 2017, 7:45 pm

heathmount wrote:I've just been onto the TDDI website to look at their charges and I must be reading this wrong as they say for a stocks & shares ISA I'll pay no account fees if my portfolio is over £5,100 or have an regular investment setup.


Whilst the platform is staying as is, it's my understanding that it will adopt a iii charging model. For existing TD clients, that makes it more expensive unless they trade frequently enough.

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Re: TD sold

#89645

Postby Lootman » October 20th, 2017, 7:47 pm

heathmount wrote:
I've just been onto the TDDI website to look at their charges and I must be reading this wrong as they say for a stocks & shares ISA I'll pay no account fees if my portfolio is over £5,100 or have an regular investment setup. Now this sounds too good to be true. Even if it isn't true, the £36 per year is a lot lower than the £20 per quarter at iii. Or is it that TDDI don't allow you to offset the account fees against trading commissions?

It's true -an ISA above that limit is totally free of charges. I've held my ISA there for as long as I can remember, and that is certainly part of the reason.

There may be some kind of fee for holding open-ended funds in an ISA. I would not know as I don't have any.

TD currently does not offset account fees against commissions, mostly because there are no account fees in many cases!

All this may change with the merger, of course.

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Re: TD sold

#89647

Postby Alaric » October 20th, 2017, 7:51 pm

Lootman wrote:All this may change with the merger, of course.


I think it's a "will" rather than a "may".

https://www.tddirectinvesting.co.uk/cus ... nformation

from which

We believe that customers should be charged clear and fair prices based on how they invest. We will introduce a fixed fee per customer for our standard trading and investing services which will be held as a credit towards trade commissions for buying and selling. When that credit has been used we will charge a simple, low commission for each trade you place.

There will be a simple set of other charges for those customers who choose to use our more specialist and added-value services, such as advanced trading tools and SIPP accounts.

Will transfer out fees be charged for TD Direct Investing customers who don’t want to stay with Interactive Investor when the new pricing approach is introduced?

We want you to stay with us and to have plenty of time to try out our improved service, so we are pleased to confirm there will be no transfer out fees for existing TDDI customers until at least 1st October 2018.


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