ISAs... talk to me.
Discussion
Have cash ISA, want out and would like something better.
Looking at 2 ISAs as I can only do one a year, so this will take 2 years to do.
Invest direct + initially and dump all the cash ISA into it (allows me to chose the shares), then move 1/2 into a managed fund ISA after a year (financial year), or should I also keep the cash ISA as an investment vehicle to feed the others via transfer or to have in case I get bored with the stocks and shares ISAs?
Essentially I will be buying a set of shares I want and then I will be allowing my bank's investment whatever to do their stuff on a fund.
Would I be correct in thinking that the Fund I should do would be better being a global one instead of investing in any UK funds until after Brexit?
Looking at 2 ISAs as I can only do one a year, so this will take 2 years to do.
Invest direct + initially and dump all the cash ISA into it (allows me to chose the shares), then move 1/2 into a managed fund ISA after a year (financial year), or should I also keep the cash ISA as an investment vehicle to feed the others via transfer or to have in case I get bored with the stocks and shares ISAs?
Essentially I will be buying a set of shares I want and then I will be allowing my bank's investment whatever to do their stuff on a fund.
Would I be correct in thinking that the Fund I should do would be better being a global one instead of investing in any UK funds until after Brexit?
What are you looking for in the fund, and if you're picking it, why not pick a fund offered by the ISA provider you're holding the shares with, so you can do it all in the one tax year?
If you're picking a fund, why restrict yourself to one that only looks to the UK market, it's just 6% of the world - pick one with a global remit, regardless of brexit.
If you're picking a fund, why restrict yourself to one that only looks to the UK market, it's just 6% of the world - pick one with a global remit, regardless of brexit.
xeny said:
What are you looking for in the fund, and if you're picking it, why not pick a fund offered by the ISA provider you're holding the shares with, so you can do it all in the one tax year?
If you're picking a fund, why restrict yourself to one that only looks to the UK market, it's just 6% of the world - pick one with a global remit, regardless of brexit.
Sorry I think I may have confused you.If you're picking a fund, why restrict yourself to one that only looks to the UK market, it's just 6% of the world - pick one with a global remit, regardless of brexit.
If I do invest direct +, I pick the shares, if I want to have one with a fund then its a different ISA.
ISA 1 = Pick shares
ISA 2 = Fund managed
ISA 3 = Old Cash ISA
I was asking if I should stay away from UK only funds with Brexit appearing next year?
I want to pick the shares immediately and then get the fund sorted as soon as Im allowed to.
Du1point8 said:
xeny said:
What are you looking for in the fund, and if you're picking it, why not pick a fund offered by the ISA provider you're holding the shares with, so you can do it all in the one tax year?
If you're picking a fund, why restrict yourself to one that only looks to the UK market, it's just 6% of the world - pick one with a global remit, regardless of brexit.
Sorry I think I may have confused you.If you're picking a fund, why restrict yourself to one that only looks to the UK market, it's just 6% of the world - pick one with a global remit, regardless of brexit.
If I do invest direct +, I pick the shares, if I want to have one with a fund then its a different ISA.
ISA 1 = Pick shares
ISA 2 = Fund managed
ISA 3 = Old Cash ISA
I was asking if I should stay away from UK only funds with Brexit appearing next year?
I want to pick the shares immediately and then get the fund sorted as soon as Im allowed to.
Are you saying you have a cash ISA from a previous tax year that you want to keep and now open a new Stock & Shares ISA to hold specific stocks of your selection together with a managed fund for the balance?
If this is the case you can do it all today if you so wished. You don't need one ISA to hold the stocks and another to hold the managed fund.
xeny was saying that you should look globally regardless of Brexit (i.e. in any event), not because of it.
You can pick the shares immediately AND the fund immediately.
Sorry if I have missed something!
Have HSBC Cash ISA and it sucks.
I spoke with HSBC today:
If I want the share ISA to play with its Invest Direct Plus
if I want a Fund I need to move to a managed S&S ISA
so they said I can't have both of the shares ISAs this year (only allowed to open one a year) and neither one can do the job of the other, so the Invest Direct Plus cant do fund investment and the Fund investment one won't allow me to invest personally.
Also, I was asking if I were to hold some money back, can I keep open the Cash ISA with a token amount in case I want it again?
I spoke with HSBC today:
If I want the share ISA to play with its Invest Direct Plus
if I want a Fund I need to move to a managed S&S ISA
so they said I can't have both of the shares ISAs this year (only allowed to open one a year) and neither one can do the job of the other, so the Invest Direct Plus cant do fund investment and the Fund investment one won't allow me to invest personally.
Also, I was asking if I were to hold some money back, can I keep open the Cash ISA with a token amount in case I want it again?
Du1point8 said:
Sorry I think I may have confused you.
If I do invest direct +, I pick the shares, if I want to have one with a fund then its a different ISA.
.
you're certainly confusing me - what's stopping you having a single ISA that holds a fund and some shares? That's perfectly possible and legal, and has the advantage that you can shift money between direct share investments and a fund without having to muck around with ISA transfers.If I do invest direct +, I pick the shares, if I want to have one with a fund then its a different ISA.
.
Du1point8 said:
Have HSBC Cash ISA and it sucks.
I spoke with HSBC today:
If I want the share ISA to play with its Invest Direct Plus
if I want a Fund I need to move to a managed S&S ISA
so they said I can't have both of the shares ISAs this year (only allowed to open one a year) and neither one can do the job of the other, so the Invest Direct Plus cant do fund investment and the Fund investment one won't allow me to invest personally.
Also, I was asking if I were to hold some money back, can I keep open the Cash ISA with a token amount in case I want it again?
It sounds as though you are being fed bullsI spoke with HSBC today:
If I want the share ISA to play with its Invest Direct Plus
if I want a Fund I need to move to a managed S&S ISA
so they said I can't have both of the shares ISAs this year (only allowed to open one a year) and neither one can do the job of the other, so the Invest Direct Plus cant do fund investment and the Fund investment one won't allow me to invest personally.
Also, I was asking if I were to hold some money back, can I keep open the Cash ISA with a token amount in case I want it again?
t from a bank salesman. You are only being told of their own options, not all of the options available to you. This is what is creating the confusion.Assuming you have not paid into your Cash ISA with HSBC this tax year you can open another ISA (with Hargreaves Lansdown or Fidelity, just as examples) and invest in a mixture of individual stocks and funds at the same time.
If you have been paying into you HSBA Cash ISA in the current tax year (and you think this sucks) you can transfer this to HL/Fidelity/etc. and do the same.
This is the problem with using banks for investments. They have restricted offerings and will position these restrictions as being the norm, when they are anything but.
Du1point8 said:
Who currently has the best ISA for Funds and share dealing?
It's all a question of what you want - and then there's the question of "what you get for what you pay"."What you pay" is often a % which depends upon how much money you have with the particular platform (provider, or whatever you want to call it).
By way of an example, Fidelity offer a comprehensive service, a wide range of funds and their fee structure is on this link,
https://www.fidelity.co.uk/investing/fees
rockin said:
Du1point8 said:
Who currently has the best ISA for Funds and share dealing?
It's all a question of what you want - and then there's the question of "what you get for what you pay"."What you pay" is often a % which depends upon how much money you have with the particular platform (provider, or whatever you want to call it).
By way of an example, Fidelity offer a comprehensive service, a wide range of funds and their fee structure is on this link,
https://www.fidelity.co.uk/investing/fees
Fidelity is very well priced (accessed through Cavendish can be even cheaper). You can access shares, ETFs (funds that are listed as shares) and funds. All at the same time and all in the same place.
Have a look at Fidelity and others like it. HSBC can only tell you about their own product range - which (to paraphrase you) does indeed suck!
Du1point8 said:
Who currently has the best ISA for Funds and share dealing?
I was thinking of keeping in house, but if I can kill 2 birds with one stone I will look elsewhere and transfer out.
Depends on how much dealing and the size of the investment (and factor in likely growth/additional investment as in my experience transferring is tedious)I was thinking of keeping in house, but if I can kill 2 birds with one stone I will look elsewhere and transfer out.
This is a good starting point for comparisons:
http://monevator.com/compare-uk-cheapest-online-br...
Monevator has a bunch of other post you may find useful for example:http://monevator.com/why-a-total-world-equity-index-tracker-is-the-only-index-fund-you-need/ is a good starting point for thinking about fund selection, albeit not the be all and end all.
I'm presuming you've put money into just a cash ISA so far this year so you're free to open a S&S ISA this tax year?
Du1point8 said:
Have HSBC Cash ISA and it sucks.
I spoke with HSBC today:
If I want the share ISA to play with its Invest Direct Plus
if I want a Fund I need to move to a managed S&S ISA
so they said I can't have both of the shares ISAs this year (only allowed to open one a year) and neither one can do the job of the other, so the Invest Direct Plus cant do fund investment and the Fund investment one won't allow me to invest personally.
Just out of curiosity, what's the fee structure for those ISA products? I suspect they've seen you coming.I spoke with HSBC today:
If I want the share ISA to play with its Invest Direct Plus
if I want a Fund I need to move to a managed S&S ISA
so they said I can't have both of the shares ISAs this year (only allowed to open one a year) and neither one can do the job of the other, so the Invest Direct Plus cant do fund investment and the Fund investment one won't allow me to invest personally.
xeny said:
Du1point8 said:
Have HSBC Cash ISA and it sucks.
I spoke with HSBC today:
If I want the share ISA to play with its Invest Direct Plus
if I want a Fund I need to move to a managed S&S ISA
so they said I can't have both of the shares ISAs this year (only allowed to open one a year) and neither one can do the job of the other, so the Invest Direct Plus cant do fund investment and the Fund investment one won't allow me to invest personally.
Just out of curiosity, what's the fee structure for those ISA products? I suspect they've seen you coming.I spoke with HSBC today:
If I want the share ISA to play with its Invest Direct Plus
if I want a Fund I need to move to a managed S&S ISA
so they said I can't have both of the shares ISAs this year (only allowed to open one a year) and neither one can do the job of the other, so the Invest Direct Plus cant do fund investment and the Fund investment one won't allow me to invest personally.
£10.50 Quartley
£10.50 Flat rate to buy online
£29.50 Flat rate to buy phone
1/2% HMRC Duty per buy
£1 something or other b
ksIf I get to 6 or more trades it drops to £9 or so
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