Stocks & Shares ISAs

24567…81

Comments

  • innovate
    innovate Posts: 16,217 Forumite
    Combo Breaker First Post
    wooder wrote: »
    Fundsmith ?
    Perhaps locate the forum threads about Fundsmith?
  • jimjames
    jimjames Posts: 17,581 Forumite
    Photogenic Name Dropper First Anniversary First Post
    innovate wrote: »
    You are joking, are you. Your, and the MSE, approach is a bit like choosing a car dealer before you have even established whether you want a car or a push bike.

    Giving inexperienced people the wrong advice is a terrible thing to do.
    Very true.

    The post below is a perfect example of picking fund platform before checking what to buy and shows the danger of giving incorrect or partial info.
    oioisexy wrote: »
    Also while I'm here, how do I buy individual bonds? I'm looking on Cavendish Online and all I can find are funds of bonds. Am I missing something?
    Remember the saying: if it looks too good to be true it almost certainly is.
  • oioisexy
    oioisexy Posts: 6 Forumite
    edited 16 April 2014 at 2:45PM
    jimjames wrote: »
    Very true.

    The post below is a perfect example of picking fund platform before checking what to buy and shows the danger of giving incorrect or partial info.


    Thank you, but in fact I'm quoting Cavendish since I already have an account with them prior to reading the info given here... It is true, it is not clear which platform allows to buy what types of investments. I simly want to be able to browse bonds that are currently available and understand how one would go about actually buying.
    I hope that nobody with a lot of money to invest is just going to go with the first platform mentioned, but this guide is a good starting point for someone willing to dip their toes for the first time. You can spend a lot of time comparing all the different platforms out there and then never actually do anything about it as there's too much to take in.
  • Archi_Bald
    Archi_Bald Posts: 9,681 Forumite
    Name Dropper First Post First Anniversary Combo Breaker
    oioisexy wrote: »
    You can spend a lot of time comparing all the different platforms out there and then never actually do anything about it as there's too much to take in.

    You do not need to spend a lot of time comparing platforms if you know how to go about comparing them, and why you are comparing them. See snowman's post for more info.
  • Robin_Davies
    Robin_Davies Posts: 28 Forumite
    Take a look at Charles Stanley Direct. Similar charges to Cavendish but may have more scope. Excellent website too.
  • SnowMan
    SnowMan Posts: 3,356 Forumite
    Name Dropper First Anniversary First Post Photogenic
    edited 16 April 2014 at 4:45PM
    Robin_Davies wrote: »
    Take a look at Charles Stanley Direct. Similar charges to Cavendish but may have more scope. Excellent website too.

    One difference in platform charges for funds that is worth mentioning:

    No exit fee for re-registering ISA funds away from Cavendish.

    But £10 per fund re-registration away fee from a Charles Stanley stocks and shares ISA.
    I came, I saw, I melted
  • LookingToTheFuture_2
    LookingToTheFuture_2 Posts: 78 Forumite
    First Post First Anniversary Combo Breaker
    edited 16 April 2014 at 5:13PM
    jimjames wrote: »


    1) I TOTALLY disagree with this point. It is misleading and incorrect to state that a cash ISA should always be used. We know nothing of the individual circumstances; they may become a higher rate taxpayer, they may invest over time and then exceed the CGT limit - by then it is too late. If they already have sufficient cash then using S&S ISA makes sense.

    "Basic rate tax payers who won't exceed the annual CGT allowance and are investing in stocks & shares - not corporate bonds - should ALWAYS max their cash ISAs first."

    I was surprised too that MSE stated that basic rate taxpayers should always max out cash ISAs. Despite being a basic rate taxpayer and very unlikely to exceed the CGT limit for a very long time (if ever), I have chosen to invest using a tax wrapper for the simple reason that it saves a lot of bother with record keeping and filling out a tax return.

    I definitely don't intend to take out a cash ISA while rates are at the levels they are now - I'm sticking to current accounts for my cash savings. And if rates do improve in the future I'll have a £15000 allowance each year which will be more than enough for me!

    This new guide will only serve to put lower paid people off investing their long term savings - the very people that need to make the maximum return out of every penny. Thank goodness for the forums - they're what makes this site worth using.
  • mikebeaches
    mikebeaches Posts: 37 Forumite
    LookingToTheFuture wrote: »
    I have chosen to invest using a tax wrapper for the simple reason that it saves a lot of bother with record keeping and filling out a tax return.

    Indeed, this is a very important point and one that should not be underestimated, especially by those new to investing in stocks and shares. However, it isn't mentioned in the guide, unfortunately.
  • trevjl
    trevjl Posts: 222 Forumite
    First Post Name Dropper First Anniversary Combo Breaker
    I'm a pretty new investor since last December and have mine with H & L. I went with them because of the old S & S ISA guide which gave them a decent review. I looked a few days ago and the guide was still the same and if memory serves me had not been updated since 2009 (stand to be corrected on that) but it was certainly a long time ago. I look tonight after getting the weekly email and low and behold it has been updated and H & L are now awful !! If I'm reading it right their charges will now cost me £45 per £10K and I could get it for £25, so that will save me £25 per ten thousand pounds each year. Hmmm don't think I will be rushing to move. I know rates and costs are important in all things but does customer service count for nothing anymore. I will be staying put as IMO their customer service is first class, their website and apps easy to use, informative and convenient. Probably the same reasons I have banked with first direct since it's inception.
    Is it me or has this website become progressively worse since it sold out ?
    Rant over
  • jimjames
    jimjames Posts: 17,581 Forumite
    Photogenic Name Dropper First Anniversary First Post
    trevjl wrote: »
    If I'm reading it right their charges will now cost me £45 per £10K and I could get it for £25, so that will save me £25 per ten thousand pounds each year. Hmmm don't think I will be rushing to move. I know rates and costs are important in all things but does customer service count for nothing anymore. I will be staying put as IMO their customer service is first class, their website and apps easy to use, informative and convenient. r

    It's hard for a simple site like MSE to be able to cover all the options and variations but they certainly don't make things easy for new investors with some of the misleading info provided.

    HL are one of the more expensive providers but as you have spotted it really depends on the amount you have invested. At £10k the difference is small and like you say the good service and friendly website is worth paying for.

    However once you get to having a portfolio of £100k or £200k and the difference is £450 vs £250 or £900 vs £500 then saving £200 or £400 per year starts to become far more significant and maybe not worth paying for.
    Remember the saying: if it looks too good to be true it almost certainly is.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343K Banking & Borrowing
  • 250K Reduce Debt & Boost Income
  • 449.6K Spending & Discounts
  • 235.1K Work, Benefits & Business
  • 607.8K Mortgages, Homes & Bills
  • 173K Life & Family
  • 247.8K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards