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TD Waterhouse ISA versus HL ISA
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Anonymous Post
Posted: 15 December 2010 12:45:28(UTC)
#22
Anonymous 2 needed this 'Off the Record'

HL is good on admin but when you ask to many questions about charges etc they tell you that they dont want your business.

What you must remember Peter and his partner have become VERY rich at the investors expense via trial comm income and charge excessive charge for share dealing.

So, you need a broker or platform that give the trail comm back to you, such as Alliance Trust.

HL give, they say upto .50% but that is only one fund from Fidelity out of all funds, Alliance trust rebate upto .875% on a large number of funds.

Alliance trust service is not as good as HL but its money in the bank that counts, service is only good if you shout.
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chazza
Posted: 15 December 2010 12:55:25(UTC)
#23

Joined: 13/08/2010(UTC)
Posts: 606
No recent experience of TDW, but HL is good funds ISAs and for shares outside ISA.
But charges fo share dealing in ISA are high, and they charge 0.5% p.a. for shares and investment trusts held in ISA (cappped at £200 p.a.), so I have only my core ISA holdings with HL. I use Barclays Stockbrokers for my IT and shares ISA and will probably not put any more into HL ISA because ITs generally perform better and are easier to trade quickly. Barclays admin is v. good, their research info and tools are less pretty than HL but are more useful, and charges are acceptable, so they will get more of my business.

I am not sure how HL's business model will hold up when the EU ban on charging commission for fund purchases comes in.
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gerald the welshman
Posted: 15 December 2010 13:02:58(UTC)
#24

Joined: 15/08/2009(UTC)
Posts: 2
I have ISA and Trading accounts with both.
HL's web site is very easy to use with good functionality. Customer service is excellent.
TDW's web site and customer service are each satisfactory but the web site is not as user friendly as HL.
HL's charges are competitive for sharedeals and ISA management but are more expensive that TDW for both if more than £5.1k is kept in the ISA.
TDW have a Limit order system for stocks but do not operate a real time dealer service as do HL.
TDW offer a wider service for overseas stocks and operate theUSA tax registration system to assist with dividends. HL will not.
HL offer a wider range and better discounts on funds (OEICS).

Use TDW :If you want a free of charge ISA and/or you invest mainly in stocks, especially if some will be ex UK.
Use HL if you invest mainly in funds and are prepared to pay something for ISA costs (0.5% up to £40k, free thereafter I believe) or if you need an easy web site and excellent customer service
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Jeff of Sidcup
Posted: 15 December 2010 13:16:19(UTC)
#25

Joined: 22/10/2008(UTC)
Posts: 21
Someone else mentioned the fact that Messrs Hargreaves and Lansdown are now multi millionaires. How many of their customers enjoy such wealth? While HL's site might be easier to work with than TDW's, I find the latter quite easy to use and their Customer Service support line excellent. Their ISA service is free and their dealing commissions are among the lowest around. Go for TDW.
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Paul H.
Posted: 15 December 2010 14:33:49(UTC)
#26

Joined: 21/10/2009(UTC)
Posts: 2
My experience is similar to 'AvonSeaWitch' I decided to try their phone service in Bristol some years ago when I sold my company and wanted to invest the proceeds. I was also told me that their business model is based on NOT having to give any real degree of personal service and anyone who requires too much is not wanted as a customer. I felt that unless I was going to immedately do some deals, I was considered a bit of a nuisence! So I took my money and business to Barclays and SJP and have been very satisfied ever since! Cannot say much about TDW having nt used them, but have heard they are good and might consider trying them in the future.
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Brian Green
Posted: 15 December 2010 15:50:27(UTC)
#27

Joined: 07/01/2010(UTC)
Posts: 2
Brian Green. I have used HL to invest in Funds for many years & found them to be very good. Their website is easy to navigate & telephone responses are brilliant.
I do not think much of their "Wealth 150" list. They are very slow to remove failing Funds and in their comments about individual Funds their comments are rarely critical.
Seven years ago when I set up my pensions they were very slow at reacting to my requests for information and when they lost out to another IFA they acted rather hurt as though they had some right to act for me. All said, I refer to my opening sentance, I find them a useful tool in sorting and planning my investments.
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Colin Gregg
Posted: 15 December 2010 16:12:25(UTC)
#29

Joined: 31/08/2010(UTC)
Posts: 8
A little more grist to your mill...

An HL ISA is an excellent for holding unit trust funds (only). Criticism over which funds to choose is a little unfair - they are an "execution only" broker after all, just like TDW (unless you want to pay for an advisory service). It is always a case of DYOR and you shouldn't act only on their pushy advertising or "recommendations".

For any other holdings (ETFs, Inv/trusts or shares) they charge pretty hefty fees (up to £200 +VAT p.a.) for the privilege as they receive no commission for those holdings. As a result, I hold a separate shares/ETFs/I-Trusts holding with Interactive Investor. Free to set up and run (no annual fee), £10 dealing charges and no admin or inactivity charges. Their customer service has been as good as the highly-praised HL service, but I'm saving £££'s every year by not holding these with HL.

It is a case of "one size ISA does NOT fit all"!

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martin young
Posted: 15 December 2010 16:50:43(UTC)
#30

Joined: 15/10/2010(UTC)
Posts: 4
it has and always will be your choice which funds you invest in !

its no good blaming HL for a fund which doesnt perform, this is not something within there control !
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steelwatch
Posted: 15 December 2010 17:10:09(UTC)
#31

Joined: 12/11/2008(UTC)
Posts: 7
Third option:

http://www.x-o.co.uk/
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Edgar H Ring
Posted: 15 December 2010 17:54:08(UTC)
#32

Joined: 18/11/2010(UTC)
Posts: 2
Never used HL as they seem expensive. TD Waterhouse are good provided no problems. Their web mamagement seems very poor and they take weeks to answer a letter if there is a problem.

E Henry, Greater London
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