Moneybox Alternatives??

[robinh73]

Good evening all, I have been using Moneybox and theIr stocks and shares ISA for a few years and overall I am really happy with it. I have built up a nice little nest egg and I have set it to the "adventurous" side of things. I was reading another non related post on here and someone mentioned a passive ftse tracker. I will hold my hands up and say that the stock market is not my strong point, hence my liking Moneybox as it does it all for you. If I took out £25,000 from Moneybox where would be a similarly hassle free but not risk adverse place to invest it long term? Cheers.

[locoloco]

won't presume to answer the main Q as no idea bout UK stocks/trackers....

i would say, depending your planning, it may be worth thinking for the future about having a flexible stocks/shares isa....meaning, you can withdraw any amt during a financial yr AND put up to the same amt back in without losing tax free wrapper.

ie/ if someone has 100k in a flex isa, can take out 99999, use it for 'emergency' and pop up to 99999 back in before the end of that fin year. May not seem useful 'now', but along the road for some may be a boon.

[C69]

The Moneybox Adventurous ISA appears to consist of:
80% - Fidelity Index World Fund
15% - iShares Environment and Low Carbon Tilt Real Estate Index Fund
5% - iShares ESG Screened Overseas Corporate Bond Index Fund

The first one is a global equities (shares) tracker, so it already includes exposure to the UK (albeit only around 3.5%). Is there any particular reason why you want to increase your UK exposure by holding a separate UK-only tracker?

Also, what fees are you paying Moneybox?

[robinh73]

This is my current allocation in Moneybox. As mentioned I am not an expert at all and just tweaked some of the allocations. The interest is working out from the statement at 2.75%. I am happy with Moneybox as I can, should I wish, take money out and then reinvest. I also am nearing my ISA allowance for this financial year with only about £500 left to invest in it, so want to do something to to carry on investing.

[butchstewie]

You know I've looked all over their website and either I'm missing it or I can't find a single article that actually tells me what their default portfolio asset allocations are.

[Simpo Two]

robinh73 said:

The interest is working out from the statement at 2.75%.

What do you mean by interest - the annual return? ETA OK I see from their website 'you’ll earn 2.75% AER (variable) on any money you hold as cash in your Moneybox Stocks & Shares ISA before investing it.'

I had a look at Moneybox and their cut is 0.45% which seems high for a very limited platform.

I think your opening post has two questions - (1) What platform can I use to invest in a S&S ISA (2) What product should I then invest in?

Don't take money OUT of your ISA, do an ISA TRANSFER so you continue to benefit from the tax status.

Always keep an eye an charges because they can only reduce your overall gain.

Edited by Simpo Two on Sunday 9th November 10:23

[robinh73]

butchstewie said:

You know I've looked all over their website and either I'm missing it or I can't find a single article that actually tells me what their default portfolio asset allocations are.

On the app, it is in Settings and then Allocations. Not sure about the website as I only use the app on my phone.

[butchstewie]

robinh73 said:

On the app, it is in Settings and then Allocations. Not sure about the website as I only use the app on my phone.

Can you screenshot what their defaults are?

My guess is they're going to be a few funds/etfs to get you to a sensible point for a given appetite for risk.

With most of these things it probably won't be a case of right or wrong but more a case of they'll do it one way someone else will do it slightly differently etc.

Fees as mentioned above is also part of it and 0.45% isn't cheap but on smaller amounts it also isn't the end of the world IMO.

[robinh73]

This is the default settings for the adventurous option.