Alliance Trust Savings charges changes

mc2fool
2 Lemon pips
Posts: 127
Joined: November 4th, 2016, 11:24 am

Alliance Trust Savings charges changes

Postby mc2fool » December 20th, 2016, 2:32 pm

Alliance Trust Savings (ATS) are changing their charges, from 1 Feb 2017. The major changes appear to be:

  • Reduction of online trading charges, from £12.50 per trade to £9.99 (if no loyalty discount)
  • All standard account charges increased by £2.50 per month (e.g. from £7.50pm to £10pm for an ISA) but the fee now includes 4 online trades a year
  • Offline trading (phone, post) charges up from £40 to £50, but a loyalty discount introduced for phone trades
  • Dividend reinvestments and regular buys remain at £5 and £1.50 respectively
  • There's now a £25+VAT a year "paper" charge if you don't go paperless
  • You'll be able to buy pre-paid online trading bundles at a discount, e.g. buy 25 trades in advance for £8.33 per trade
If you don't like any/all of that they're waiving their transfer out charges if they get completed forms from whoever your transferring to by 27 January 2017.

http://www.alliancetrustsavings.co.uk/new-charges/

Lootman
Lemon Slice
Posts: 531
Joined: November 4th, 2016, 3:58 pm

Re: Alliance Trust Savings charges changes

Postby Lootman » December 20th, 2016, 2:39 pm

I haven't used ATS for a few years, but I may be in the market for a new provider if the TDDI merger with ii doesn't go well.

These charges don't strike me as too bad, overall. Although I think a ten quid a month standing charge is bit steep - presumably if it is an ISA you can pay that from outside the ISA?

One thing I do recall about ATS is that their handling of corporate actions is ponderous and paper-dependent. But then so are most brokers.

Breelander
Lemon Slice
Posts: 587
Joined: November 4th, 2016, 9:42 pm

Re: Alliance Trust Savings charges changes

Postby Breelander » December 20th, 2016, 4:21 pm

Lootman wrote:One thing I do recall about ATS is that their handling of corporate actions is ponderous and paper-dependent. But then so are most brokers.


Barclays is one of the most 'paper-dependent' brokers I've used, it's still the only way to get a contract note out of them. But to their credit they do accept corporate action responses online (but still send you the paperwork anyway).

hiriskpaul
Lemon Pip
Posts: 96
Joined: November 4th, 2016, 1:04 pm

Re: Alliance Trust Savings charges changes

Postby hiriskpaul » December 20th, 2016, 4:50 pm

I transferred my main ISA out of ATS the last time they whacked their charges up, taking advantage of the free transfer at the time. I went to iWeb and the transfer took months, each side blaming the other. I am so pleased I transferred though. Although iWeb/Halifax are idiosyncratic, at times infuriating and have cocked up a number of times, they have still provided a much better service than ATS at a fraction of the price.

Alternatively HL only charge 0.45%, capped at £45 per year for their ISA (provided you stay clear of OEICs) and the quality of service that HL provides is in a completely different league to that of ATS or iWeb/Halifax. I would thoroughly recommend them provided someone did not want to invest large amounts into OEICs. OEIC investments are ok with HL for smaller (e.g. < £15k) accounts though as there is no dealing charge for OEICs.

Lootman
Lemon Slice
Posts: 531
Joined: November 4th, 2016, 3:58 pm

Re: Alliance Trust Savings charges changes

Postby Lootman » December 20th, 2016, 6:50 pm

hiriskpaul wrote:
Alternatively HL only charge 0.45%, capped at £45 per year for their ISA (provided you stay clear of OEICs) and the quality of service that HL provides is in a completely different league to that of ATS or iWeb/Halifax.


What is HL like for handling more complex securities like foreign shares, AIM shares, ETFs etc?

And can they handle a corporate action without sending me a blizzard of paperwork?

JMN2
Posts: 42
Joined: November 4th, 2016, 11:21 am

Re: Alliance Trust Savings charges changes

Postby JMN2 » December 20th, 2016, 8:09 pm

HL are great, no paperwork sent except empty SIPP forms as they're constantly trying to get you transfer to them. They seem to be very professional. I've only ever had shares and ETF's with them though.

FredBloggs
2 Lemon pips
Posts: 185
Joined: November 12th, 2016, 8:42 am

Re: Alliance Trust Savings charges changes

Postby FredBloggs » December 21st, 2016, 1:09 am

Since I hold mainly unit trusts and OEICs HL were charging me > GBP 120 a month to just hold my SIPP and ISA accounts which trade maybe 3 or 4 times a year. I swapped to II who charge me GBP 20 a quarter and the GBP 20 is credited to my account to pay for trades when I do so.

If you want to use HL, be very careful and understand the charges before you do so.

Dod1010
2 Lemon pips
Posts: 229
Joined: November 4th, 2016, 10:18 am

Re: Alliance Trust Savings charges changes

Postby Dod1010 » December 21st, 2016, 8:10 am

I have been with ATS for over 20 years so get their maximum loyalty discount and since I do not trade very much I am happy with the idea of four free trades a year included in their new charges. There is very little paper, and for as long as they are owned by Alliance itself I think they are pretty secure. My main ISA is with them and so is my SIPP.

I also have a small ISA with TD Investing and two ISAs are a pain and it is an even bigger pain that TDInvesting as we know it is about to disappear.

Dod

hiriskpaul
Lemon Pip
Posts: 96
Joined: November 4th, 2016, 1:04 pm

Re: Alliance Trust Savings charges changes

Postby hiriskpaul » December 28th, 2016, 2:26 pm

Lootman wrote:
hiriskpaul wrote:
Alternatively HL only charge 0.45%, capped at £45 per year for their ISA (provided you stay clear of OEICs) and the quality of service that HL provides is in a completely different league to that of ATS or iWeb/Halifax.


What is HL like for handling more complex securities like foreign shares, AIM shares, ETFs etc?

And can they handle a corporate action without sending me a blizzard of paperwork?


HL are good for fixed income investments. Not as good as a full service broker but the best of the retail brokers I have used and a fraction of the price of a full service broker. Like the other retail brokers though, they only handle CREST settled bonds. AIM shares I don't know as I don't trade them at present. Support for US listed ETFs is good and I hold a number in my SIPP, for which the dividend withholding tax is reduced to zero. The downside however is the high FX fees. They operate a tiered system, starting at 1.5% for deals below £25k to 0.35% for deals over £100k.

I have recently been using DEGIRO for foreign ETFs. Low dealing charges and FX fee of just 0.1%. However, I am not sure about their order handling for less liquid stocks. I have had a few orders for UK preference shares not filled when I think they should have been for the prices I quoted, so quite possibly not great for AIM either. No problem with liquid US preferreds or ETFs though. DEGIRO passport in to the UK market, so potentially a problem post Brexit.


Return to “Brokers and Share Dealing”

Who is online

Users browsing this forum: No registered users and 1 guest