Any online account that lets you buy on the London Stock Exchange will do. That's pretty much all of them.
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Any online account that lets you buy on the London Stock Exchange will do. That's pretty much all of them. There are other threads on here about which online broker might be suitable depending on your intended use -- they will vary in transaction charges (percentages and minimums), annual charges, inactivity charges, custody fees, exchange rates (for Sterling trades), and so on. (I use Saxobank, opened through sam.ie, but the minimum transaction charge is higher than other accounts if you are buying small amounts).
OP refers in particular to the tax advantages of ITs; I'm not sure that is particularly relevant for PRSAs, but I stand to be ejected.Most of the above investment trusts you quote can most likely be bought into a Standard Life self-invest PRSA (using stocktrade). If someone in SL has said otherwise, it's possible they have made an error or Standard Life itself may have prohibited some such investment trusts due to a simple lack of knowledge.
But I'd have to ask you: why would you look to a life company for a self-directed PRSA when you can go direct to a stockbroker for a self-directed PRSA? The stock exchange platform is the oldest, is far more flexible, and, in my view, more cost effective and more transparent than life company platforms, and you can access the stock exchange platforms direct rather than indirectly via an Irish-based life company.
I honestly don't know. I applied via SAM but every subsequent interaction was with SaxoBank. I liked the cut of Paul Sommerville's jib any time I ever saw him on the telly, but my only interaction with him was when I accidentally lodged my first deposit to Saxo's Sterling instead of Euro account. Got onto Paul but he just liaised with a Saxo person and copied me. I presume he got some sort of commission for getting an account opened through him, which I don't begrudge. But basically, as I said, have had no interaction with SAM at all in three years other than the initial account application, so I can't see how it makes much difference.Is there an advantage/disadvantage in opening a Saxobank account through sam.ie rather than going direct?
Thx, M
I honestly don't know. I applied via SAM but every subsequent interaction was with SaxoBank. I liked the cut of Paul Sommerville's jib any time I ever saw him on the telly, but my only interaction with him was when I accidentally lodged my first deposit to Saxo's Sterling instead of Euro account. Got onto Paul but he just liaised with a Saxo person and copied me. I presume he got some sort of commission for getting an account opened through him, which I don't begrudge. But basically, as I said, have had no interaction with SAM at all in three years other than the initial account application, so I can't see how it makes much difference.
Actually, it's only now that you ask that I see the [broken link removed] talks about free advisory services for accounts above certain values. If that was the case he owes me a ton of free stuff. But I have no idea how that gels with what actually happened. I applied for an account on the sam.ie website, I got a mail back from saxomarkets.co.uk saying "Thank you for your application for an online trading account with Saxo Capital Markets UK Limited via your Introducing Broker Sommerville Advisory Markets", and looking for ID documents. After that point all my interaction was with Saxo, and I never heard from SAM again. It never occurred to me to wonder if I was supposed to be thrown in at the deep end like that. I've certainly been taught a few expensive lessons!Thx Dub.
I had hoped it was more a "hands on" approach.
I thought that he might have given you a year in his subscription service as a bonus or something.
SaxoBank then do the buys & sells?
But I'd have to ask you: why would you look to a life company for a self-directed PRSA when you can go direct to a stockbroker for a self-directed PRSA? The stock exchange platform is the oldest, is far more flexible, and, in my view, more cost effective and more transparent than life company platforms, and you can access the stock exchange platforms direct rather than indirectly via an Irish-based life company.
Hi Rory,
but PLEASE feel free to point me elsewhere because I also want to get trading more frivolously and it'd be handy to stick to one trading platform.
Would a self-directed PRSA be a way to shelter dividends from investment trusts from income tax?
If so, would this sheltering apply regardless of how much you invested in the PRSA per year, or would it be limited to 20% of gross salary (for a person aged 30 to 39)?
You can, however, put additional monies into your PRSA even though you may not get tax relief and avail of the non-tax of dividends and gains within such accounts.
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