Good for large balances but watch out for dividend reinvestment charges
Originally, I was attracted to the Alliance Trust Savings platform for its stocks & shares Isa because it charges a flat fee rather than siphoning off a percentage of the balance. The fees have been ratched up to £7.50 a month, but this can still work ...
Read moreOriginally, I was attracted to the Alliance Trust Savings platform for its stocks & shares Isa because it charges a flat fee rather than siphoning off a percentage of the balance. The fees have been ratched up to £7.50 a month, but this can still work out well for larger balances. The platform works fine, it's easy to trade and check valuations, but it doesn't have as many bells and whistles as competitors like Hargreaves Lansdown. What took my by surprise is that ATS charges £5 every time it reinvests dividends, and it sets the threshold at £100 before any automatic reinvestment takes place. This means you face a choice between frequent chunky charges, or letting your dividends sit around in cash for ages.
