Discussion
We've some spare cash in national savings and current accounts.
Our requirements are
Low risk
Quick access
Risk averse level 2
My thoughts were to drip feed into ISAs were not using our allowances and don't require an income.
Spoke to my pension provider they've recommended a GIA and drip feeding into an ISA.
Set up fees seem high.
1% annually plus 2% of funds deposited.
What are the accepted rates.
Our requirements are
Low risk
Quick access
Risk averse level 2
My thoughts were to drip feed into ISAs were not using our allowances and don't require an income.
Spoke to my pension provider they've recommended a GIA and drip feeding into an ISA.
Set up fees seem high.
1% annually plus 2% of funds deposited.
What are the accepted rates.
0.35% at Fidelity and nothing for funds deposited: https://www.fidelity.co.uk/services/charges-fees/
The 2% you refer to may be down to the investment not the platform, but it still seems high. An extra layer is being added I feel.
The 2% you refer to may be down to the investment not the platform, but it still seems high. An extra layer is being added I feel.
Edited by Simpo Two on Saturday 6th August 08:55
CharlesElliott said:
Is it SJP!?
No the IFA is succession wealth, provider is Elevate who i now believe are Aviva.If i pick a fund from say Vanguard 40/60 shares bonds for instance is likely to provide returns comparable to other providers 40/60 funds?
Edited by PositronicRay on Thursday 4th August 13:59
FriedMarsBar said:
bmwmike said:
Gia is a general investment account and is subject to tax (income and capital gains)
Thanks, so you'd only use it when you've maxed your ISAsbmwmike said:
Vanguard are 0.15% iirc
In return you can only have Vanguard products though.bmwmike said:
Though I opened one alongside an ISA just to park some cash in a fund for a few months (shock horror!) as didn't want to use my ISA allowance right away. Turns out I could have put in and withdrawn and then put in again in same year.
You can put cash in a S&S ISA and invest it later. Note that you can only do the money out-and-back-in trick if it's a Flexi-ISA (which Fidelity's aren't). Check with your provider.bmwmike said:
Probably. Though I opened one alongside an ISA just to park some cash in a fund for a few months (shock horror!) as didn't want to use my ISA allowance right away. Turns out I could have put in and withdrawn and then put in again in same year.
That's a good point, I had heard something about "flexible" ISA, which is quite appealing to me so I'm going to research those.I'd just open an ISA and put cash into that and invest it when you're ready to do so.
I can't think of too many reasons why you wouldn't want to use a tax wrapper that has no obvious downside.
Vanguard are low cost and a bit of a "can't go wrong" option but keep in mind stocks and bonds have taken an absolutely hammering this year so even a 40/60 has not been a nice place to be.
I can't think of too many reasons why you wouldn't want to use a tax wrapper that has no obvious downside.
Vanguard are low cost and a bit of a "can't go wrong" option but keep in mind stocks and bonds have taken an absolutely hammering this year so even a 40/60 has not been a nice place to be.
b
hstewie said:
hstewie said: I'd just open an ISA and put cash into that and invest it when you're ready to do so.
I can't think of too many reasons why you wouldn't want to use a tax wrapper that has no obvious downside.
Vanguard are low cost and a bit of a "can't go wrong" option but keep in mind stocks and bonds have taken an absolutely hammering this year so even a 40/60 has not been a nice place to be.
Latest BOE prediction unsettling although not unexpected. I may start drip feeding next year. I can't think of too many reasons why you wouldn't want to use a tax wrapper that has no obvious downside.
Vanguard are low cost and a bit of a "can't go wrong" option but keep in mind stocks and bonds have taken an absolutely hammering this year so even a 40/60 has not been a nice place to be.
PositronicRay said:
We've some spare cash in national savings and current accounts.
Our requirements are
Low risk
Quick access
Risk averse level 2
My thoughts were to drip feed into ISAs were not using our allowances and don't require an income.
Spoke to my pension provider they've recommended a GIA and drip feeding into an ISA.
Set up fees seem high.
1% annually plus 2% of funds deposited.
What are the accepted rates.
As others have said, this is exceptionally expensive, don't expect to pay more than 1%, I would expect to pay <.0.75%. (HL / Vanguard as others have mentioned).Our requirements are
Low risk
Quick access
Risk averse level 2
My thoughts were to drip feed into ISAs were not using our allowances and don't require an income.
Spoke to my pension provider they've recommended a GIA and drip feeding into an ISA.
Set up fees seem high.
1% annually plus 2% of funds deposited.
What are the accepted rates.
FriedMarsBar said:
Sorry for being thick but is a GIA different to just having your money in HL account?
Is a GIA better or more tax efficient in some way?
Thanks
GIA is just what we call a completely normal, bog standard stock broking account. Is a GIA better or more tax efficient in some way?
Thanks
By rebranding the mundane with a cool monika you can suddenly charge.
Your boggo HL share account is actually a GIA bit you've failed to adopt the cool new name for it.
bhstewie said:
hstewie said: I'd just open an ISA and put cash into that and invest it when you're ready to do so.
I can't think of too many reasons why you wouldn't want to use a tax wrapper that has no obvious downside.
Vanguard are low cost and a bit of a "can't go wrong" option but keep in mind stocks and bonds have taken an absolutely hammering this year so even a 40/60 has not been a nice place to be.
It does somewhat depend on the sums. The majority of ISA owners were never going to be troubled by the taxman but still, in the early days, paid money for something they didn't need. I can't think of too many reasons why you wouldn't want to use a tax wrapper that has no obvious downside.
Vanguard are low cost and a bit of a "can't go wrong" option but keep in mind stocks and bonds have taken an absolutely hammering this year so even a 40/60 has not been a nice place to be.
The pot needs to be a reasonable size before it's worth paying any money for tax sheltering.
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