Compare The Platform: Charles

/Charles
Charles2019-06-07T10:58:42+01:00

Example Investors

  • Example Investor Charles

Charles

Charles is 68 and happily retired. He and his wife enjoy several holidays a year, playing golf and spending time in the garden. The children are all grown up and financially independent. Charles has dabbled a bit on the stock market, but now has the time to give it a bit more of a go. He has significant savings and is comfortable with putting some of it into riskier investments.

As well as his company pension, Charles has built up a pension pot of £350,000 in a SIPP and £150,000 in ISAs. Of this £500,000 investment pot, around £100,000 is in stocks and shares. He already uses a platform (Hargreaves Lansdown) to manage his portfolio, but now that he feels comfortable in making his own decisions and regularly trading, he is keen to see if he can get a cheaper deal elsewhere. He expects to trade about 50 times a year, and let’s assume there will be no additional future savings.

Here’s an overview of the Top 3 investment platforms, based on price, when we input Charles’s data into the comparetheplatform.com calculator. Hargreaves Lansdown, which Charles uses currently, comes in at number 9, so we’ve added that too.

PLATFORM BASED ON TODAY’S VIEWANNUAL PLATFORM FEERECOMMENDED FUNDS LIST AVAILABLECOMPARE THE PLATFORM RATING
Fidelity£845yes
4.0
Cavendish Online£1,000yes
2.0
IWeb£2,205no
3.0
Hargreaves Lansdown£3,135yes
5.0

Compare The Platform View:

Charles has time on his hands to research stocks and shares and is a very active trader. His preferred platform, Hargreaves Lansdown, is expensive for people who trade significant volumes so he should consider moving his investments to Fidelity where he would save a whopping £2,290 per year. However, if Charles were to place all his investments in investment funds, he would get a different ranking altogether. Charles likes the extensive research and tools available on Hargreaves Lansdown and rates its customer services highly.