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RCS - EfinancialNewsletter - The Best Investment Platforms In The UK

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RNS Number : 3282G  Efinancial Newsletter  14 November 2022

The Best Investment Platforms In The UK:

Investors are somewhat spoiled for choice these days when it comes to
allocating their capital.

Many UK investors are shunning more traditional 'wealth management' routes due
to the hefty management and performance fees, and general market
underperformance.

Statistics inform us that in the UK more and more investors are building their
investment portfolios themselves. By adopting this approach, you'll certainly
save on costs, but will you find your holy grail and regularly beat market
performance?

Today, we take a deep dive into what most would state are the best platforms
in the UK, discuss their differences, and grade them based on what they offer
you as the investor.

Hargreaves Lansdown 8/10:

Wide range of products, easy to use, and a strong reputation in the industry.
The 'Wealth Shortlist' is an interesting feature, as it lists funds chosen by
their in-house analysts. However, a caveat would be that some of these have
been underperforming over recent years.

Find HL here- www.hl.co.uk/investment-services
(http://www.hl.co.uk/investment-services)

Fidelity 6/10:

Similar to HL, Fidelity offers an easy to use platform and a wide range of
products. It doesn't have as many features as HL, and their 'advice' team seem
targeted to turn 'self investors' into 'advised investors'. Perhaps they would
rank higher without this approach.

Find Fidelity here: www.fidelity.co.uk/services/online
(http://www.fidelity.co.uk/services/online)

eToro 5.5/10:

Low cost, easy to access the markets- tick. Their platform even allows you to
follow their traders. However, if you are looking for a platform that can
assist you to beat markets, the statistics from eToro's own website might put
you off. Over 75% of their clients lose money. They've made trading easy, but
not profitable. Possibly aimed at smaller investors looking to 'win big',
which tends to backfire.

Find eToro here: www.etoro.com (http://www.etoro.com/)

Vanguard 7.5/10:

ISA accounts, pension accounts and a wide variety of products. Vanguard ticks
many boxes. It also has an option to select 'a ready made portfolio of funds'.
A solid option for your portfolio.

Find Vanguard here: www.vanguardinvestor.co.uk
(http://www.vanguardinvestor.co.uk/)

The Portfolio Platform 9/10:

Something a little different. Clients use TPP's platform to link good quality
traders to their own portfolios, replicating their returns. The strategies
range in risk and reward, but they all seem to outperform the markets, due to
only showcasing traders with a track record of outperforming the markets by at
least 2 X per annum. They offer a fresh option to those who want more. There
are no management or performance fees, or any fees to invest or withdraw
capital. It does appear to be a potential game changer.

Find TPP here: www.theportfolioplatform.com
(http://www.theportfolioplatform.com/)

AJ Bell 7.5/10:

Top rated research team, wide variety of products, and a solid support team.
Very similar to Vanguard and HL in a busy space but also very popular with the
UK investment market. A solid choice in our opinion, but not offering anything
different.

Find AJ Bell here: www.ajbell.co.uk (http://www.ajbell.co.uk/)

St Jame's Place 5.5/10:

Disappointing. Very popular with the U.K. investment market but many of their
clients have found their way here by default. Their extortionate fee's (entry,
exit and management), and underperformance have received very bad press
recently, although they claim to be working on these. We wish them well for
the future, but they lose marks for excessive charging and general
underperformance.

Find SJP here: www.sjp.co.uk (http://www.sjp.co.uk/)

IG Index 7/10:

An innovative platform that provides exposure to a wide variety of derivative
based investments. Some good research and trading tools, but perhaps suited to
a 'day trader' rather than a 'long term investor'.

Find IG here- www.ig.com/uk (http://www.ig.com/uk)

Summary:

We have tried our best to provide an overview on the more established 'wealth
management' platforms, alongside the more aggressive fintech challenger
brands, who seem intent on stealing market share.

They all have some excellent features, and perhaps some weaknesses, but in the
end- it boiled down to 2 propositions in our opinion.

Hargreaves Lansdown are one of the most established in the UK, who have over
130 billion GBP's under management, and if you are looking for an easy to use
investment platform, with a wide range of products and features- HL should
suit your requirements.

Most impressive of all was The Portfolio Platform.

They set out to offer something different and launched a platform that arrived
in the market to a large fanfare, and some big promises to change how the UK
invests.

This is very likely to take off and steal market share given that the market
has evolved into more of a self managed environment from a more 'hands on'
generation.

By only working with traders who have track records of outperforming the
markets over a number of years, whilst charging zero performance and
management fees- it's a platform that offers something very different, it's
refreshing, and given time- may well change how the UK invests.

 

EF News greg@efinancialnewsletter.co.uk https://www.efinancialnewsletter.com/

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