Alaric wrote:On the topic of Banks using their banking system for investments, NatWest online banking invited me to take a look at their investment service.
Like Barclays this used the banking login method. What was behind the login wasn't terribly impressive. There was a choice of 5 in house OEICs offering spreads of investments with varying degrees of risk. If it's an in house OEIC, I really don't see the justification for a platform fee other than because they can.
Once upon a time there was a NatWest stockbrokers. Didn't that get sold/transferred to TD Direct (as was)?
Yes - my first broker, I have/had a personal CREST account with them. Transferred to TD Direct - no on going fees at all as I held over £15K of shares and I wasn't trading (so I wasn't exactly their best customer), but I'm not sure I cost them much either as dividends etc are paid direct to my bank account by the company registrar. Now moved to II and I'll have to pay a qtrly fee that can be set against dealing fees and an extra qtrly fee that can't for the CREST account so a major increase in fees for me.
I am planning on opening a new ISA as my ISA holdings with my ISA broker are getting a bit large and wanted to split my investments between more than one ISA. I had an old single company PEP with Barclays, so had thought about using them, but then the Smart Investor move which have lead to this 17page thread meant I transferred my Barclays account to my original ISA. So I was planning to open a new ISA with TD Direct to do some bed and ISAing, but I'm not so certain that the new II service is going to be so good. I'll see how it goes upto next April when I need to open the new ISA