Motley Fool sharedealing new charges

Porcupine · 29 January 2014 at 2:40PM

New charges with effect from from 31st March:

ISA closure/transfer fee: free (was £50)

Rights issues: free. Was £7.50 (online) £2.50 (sharebuilder),
free (ISA/SIPP).

Transfer out of shares electronically to another stockbroker/ISA to another ISA manager: £25/investment (max £125), was £25/inv no max.

Fund dealing: £17.50 was free
Fund regular investments: £2 was free
Fund dividend reinvestment: 2% capped at £17.50 was free.

Existing charges here:
http://www.fool.co.uk/share-dealing/share-dealing/

avfc1982 · 29 January 2014 at 2:59PM

Thanks for that. I'm assuming the £12.50+VAT admin fee every 6 months still stands?

Can't see any mention of it on that link.

Porcupine · 29 January 2014 at 5:09PM

That's the fee for the ISA. It's still listed here:
http://www.fool.co.uk/share-dealing/self-select-stocks-shares-isa/

They advertise two unwrapped accounts: Share Dealing and Sharebuilder - I can't tell if these are the same or different?
http://www.fool.co.uk/share-dealing/

avfc1982 · 12 February 2014 at 12:57PM

Hi Porcupine - Have you had any formal communication from Fool on their revised charges?

I have a small S&S ISA with them but haven't received anything via email just yet.

Looking at options to consolidate my ISA's so want to be 100% clear what the charges will be pre and post Mar 31st.

Porcupine · 13 February 2014 at 3:57AM

avfc1982 wrote: »

Hi Porcupine - Have you had any formal communication from Fool on their revised charges?

Yes, I got an email which I paraphrased in my initial post.

As it happens I opened a TMF Sharedealing account in 2007 and never used it, so this is the first communication I've had from them in years.
('them' being Halifax in disguise of course)

avfc1982 · 13 February 2014 at 1:20PM

Thanks Porcupine, spoke to them on the online chat and they gave me this link to details of the new charges:

http://www.fool.co.uk/share-dealing/share-dealing/#simple7

Looking to consolidate my ISAs with III so will probably look to sell the few shares I have over the next couple of months and transfer as cash.

Had it confirmed that this will incur no costs as ISA transfer fee is being removed from 31st March onwards.

ericpode · 15 February 2015 at 4:12PM

I currently have shares bought through Motley Fool Sheredealing, but NOT within an ISA.

I buy or sell shares pretty infrequently, maybe 1 to 3 times a year.

As I understand it, there has been no standing charge in the past but the new changes will have a standing charge of 80 pounds per year. So I'll be up to 80 pounds worse off every year just by leaving my shares with Motley Fool.

So I think I need to move them somewhere that has lower or zero standing charges.

I already have a stocks and shares ISA with AJ Bell YouInvest, so I may transfer my Motley Fool shares across to them as I can't see any standing charges in their standard Dealing fees:

https://www.youinvest.co.uk/charges-and-rates/dealing-account

Are there any better or other dealers I should look at that have very low standing charges?

Porcupine · 15 February 2015 at 5:16PM

Please note that this thread mentions changes in fees to Motley Fool from early 2014. It appears they've now decided to move from being run by Halifax to Interactive Investor, which has quite a different fees structure.

I haven't looked at TMF's 2015 fees in detail, but I'd suggest to have a look at iWeb. It's also run by Halifax, but there are no standing charges for the ISA or the unwrapped account, there's just a one-off £25 opening fee. That covers both shares and funds (in contrast with most providers).

Deals (funds or shares) are £5 so it's quite cheap - the only time it doesn't win is in regular savings transactions, or you're buying funds with a small pot (where a percentage annual fee would be better than deal fees).

I don't know YouInvest or Motley Fool, but the iWeb interface is fairly basic - shows you purchase price, current price, profit/loss (in pounds and percentages), plus transaction history. There's the usual deals like market and limit orders. A bit annoyingly it lists by ticker not by name (some funds have very obscure tickers, you can hover to get the full name). They do have research pages, but I'd go elsewhere for that (Trustnet, Morningstar, Citywire, HL).

Essentially a cheap, no-frills offering that does what it says on the tin.

ericpode · 15 February 2015 at 6:58PM

Doh! I hadn't noticed that the date was exactly 1 year too old! Yes it's the present 2015 change that I meant.

Thanks for the suggestion. It looks like iWeb will be my choice.

Just in case anyone's interested the current charges are:

http://www.fool.co.uk/share-dealing/help-faq/current-dealing-and-administrative-charges/

and from March 2015 they will be:

http://www.fool.co.uk/share-dealing/trading-account/

masonic · 15 February 2015 at 7:39PM

Porcupine wrote: »

It appears they've now decided to move from being run by Halifax to Interactive Investor, which has quite a different fees structure.

Interactive Investor? :shocked: Oh no, not another one! II is already at bursting point and blaming all of its failings on "high volumes". It's already running Trustnet Direct and planning to run a venture with the Daily Telegraph as well. There aren't many of you, are there? _pale_

Oh well, they do say misery loves company.

le_loup · 15 February 2015 at 9:54PM

Please Motley Fool customers move now before it's too late.
Do not get involved with Interactive Investors.
You have been warned ................

Motley Fool sharedealing new charges

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