Davy Select

Min

What do you think of the new look Davy Select website?

http://www.davyselect.ie/

I don't have an account with them but I am considering it.

Min

What do people think of them, in terms of investments and their charges, I like how one can now move and manage their own pension, a sort of all in one site.

Anyone here using Davy?

whysomoody

Min wrote: »

What do people think of them, in terms of investments and their charges, I like how one can now move and manage their own pension, a sort of all in one site.

Anyone here using Davy?

Looks pretty good, like that charges are clear and seem to have a huge amount of info which I think is useful.

greecy_joe

Min wrote: »

What do people think of them, in terms of investments and their charges, I like how one can now move and manage their own pension, a sort of all in one site.

Anyone here using Davy?

thought about moving to davy but their charges were a multiple of what TD waterhouse charge me , as for whether you can manage your own pension , im not sure but you may not get the tax write off by going the DIY route

i do know that i would never go through the likes of irish life for an investment , they all play the same market at the end of the day , why not instead buy an i shares global market etf , you gain exposure to the usa , europe and emerging markets , at a cost of no more than 0.5% per year , studys have shown that over a long period , index funds do just as well as managed funds , to hell with giving irish life 2 to 3% per year when they often turn around and stick it in an etf

Min

greecy_joe wrote: »

thought about moving to davy but their charges were a multiple of what TD waterhouse charge me , as for whether you can manage your own pension , im not sure but you may not get the tax write off by going the DIY route

i do know that i would never go through the likes of irish life for an investment , they all play the same market at the end of the day , why not instead buy an i shares global market etf , you gain exposure to the usa , europe and emerging markets , at a cost of no more than 0.5% per year , studys have shown that over a long period , index funds do just as well as managed funds , to hell with giving irish life 2 to 3% per year when they often turn around and stick it in an etf

In their pension calculator it shows how much tax is saved based on the tax rate your income and amount invested in the pension, so no problem there.
There is an annual 0.75% management fee.

greecy_joe

Min wrote: »

In their pension calculator it shows how much tax is saved based on the tax rate your income and amount invested in the pension, so no problem there.
There is an annual 0.75% management fee.

if you can manage your own pension through davy select for .75% per year , id say go for it , one thing to remember however is that davy charge something like 1% per year for the priveledge of having a broker platform with them , this is an added charge , no way is it .75% in total when you add in cost of the fund ( which could be jp morgan , goldman sachs , blackrock , fidelity , one of those ) and davys own expenses

delux

Has anyone tried this Davy Select pension yet?

Cavanjack

delux wrote: »

Has anyone tried this Davy Select pension yet?

Yeah opened an account last year. Works the same way as their regular online account. Find it Very easy to use.

delux

Yeah opened an account last year. Works the same way as their regular online account. Find it Very easy to use.

Cool, do you find they have alot of stocks to trade or sometimes you can't trade certain stocks?

Cavanjack

delux wrote: »

Cool, do you find they have alot of stocks to trade or sometimes you can't trade certain stocks?

I'm not much of a trader more of a long termer but have been able to buy any stock that I have wanted to.
They say "The Davy EPP allows the pension holder to have control over investment decisions. You can invest in over 10,000 investments through the Davy Select online platform". 10,000 should be enough for any man/woman.

rochestown

Looking to trade a few grand on shares - is this the best option out there fees wise or is there anyone better? Thanks...

rochestown

rochestown wrote: »

Looking to trade a few grand on shares - is this the best option out there fees wise or is there anyone better? Thanks...

Anyone got any advise here? Thanks...

Cute Hoor

From what I can gather from their website Davy charge pretty exorbitant fees, €80 per year for maintenance (??), and 0.5% per transaction with a minimum of €14.95 per transaction - pretty hefty fees. Don't forget as well that you will be paying 1% tax if you're buying Irish, so you're few grand will quickly be impacted by these charges.

Why limit yourself to an Irish broker. Interactive Brokers charge 0.1% transaction fee (minimum $10 or Euro (or other currency) equivalent), there is no maintenance fee if you do 1 trade per month, it's $10 per month maintenance fee if you don't do any trades in the month.

US brokers (e.g. www.tdameritrade.com) don't charge any maintenance fee and they are all pretty much under $10 fixed charge irrespective of the size of trade. With the US ones of course you are playing with the currency risk as well.

Hope this helps and happy trading!