Alliance Trust Savings have (ATS)announced their new charges which will apply from Feb 2017.
Generally prices are going up but now include some online bundled online trades, also the online trade charge is being reduced.
Some Key Issues to consider
- the bundled online trades are not general commission credit (so can’t be used for monthly dealing or the dividend re-investment)
- limit orders still don’t get the loyalty discount (why NOT!!)
- they are waiving the transfer out fees until end Jan
My household has a Junior ISA, ISA and SIPP - given we also have accounts with Hargreaves Lansdown (HL) and Interactive Investor (III) - I’m tempted to transfer some of the accounts (whilst the transfer out fees are waived) - I only hold ETFS and trusts on their platform.
The things I like about ATS are
- monthly Direct debit investment is cheap (£1.5) and you can choose any trust (unlike HL where FTSE350 only, but III offer similar functionality)
- the dividend re-investment actually allows cheap monthly dealing (£5) by allocating cash to an existing holding (not offered with HL, but III allows this for £1.5 a trade)
The website is ok - but charting/comparison tools on HL are much better.
Any other views on sticking with or leaving ATS?