Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • Plus
    • By Plus 1st Jul 17, 1:49 AM
    • 220Posts
    • 171Thanks
    Plus
    AJ Bell Youinvest LISA
    • #1
    • 1st Jul 17, 1:49 AM
    AJ Bell Youinvest LISA 1st Jul 17 at 1:49 AM
    Haven't seen it mentioned here: Youinvest have launched a S&S LISA:
    https://www.youinvest.co.uk/lifetime-isa

    0.25% custody fee (funds and shares)
    Fund purchase £1.50
    Shares purchase £9.95
    Regular investment £1.50

    Could be marginally better than HL/Nutmeg if you tend to invest in lump sums and not switch very often. No transfers in as yet.
Page 1
    • Ricardo1980
    • By Ricardo1980 1st Jul 17, 4:09 PM
    • 118 Posts
    • 15 Thanks
    Ricardo1980
    • #2
    • 1st Jul 17, 4:09 PM
    • #2
    • 1st Jul 17, 4:09 PM
    Do you want that money to buy your first flat or retirement? Otherwise there is no point. And for your retirement, a SIPP and the tax relief is better if you are a high rate tax payer.

    BTW, I took me one month to open an account there. They lost my application form and every time I tried contacting them, they replied after 6 or 7 days. So, support service is really bad and slow.

    In your numbers, you forget fund ongoing charge and currency rates (if applicable)
    • Alexland
    • By Alexland 10th Jul 17, 8:41 PM
    • 431 Posts
    • 258 Thanks
    Alexland
    • #3
    • 10th Jul 17, 8:41 PM
    • #3
    • 10th Jul 17, 8:41 PM
    The AJ Bell offer is more attractive than HL however it's really hard to build a balanced DIY portfolio without buying multiple funds and so incurring multiple transaction fees. This could quickly erode the value of a small value LISA. It's messy as the govt bonuses are delayed so potentialy incuring more transaction fees.

    As such for the first year (when the balance is low £4k) and next year (£10k) it's probably best to stick to Nutmeg who will do a fixed portfolio at 0.45% + 0.22% funds with no transaction or exit fee.

    Maybe in year 3 (15k) it's almost worth transfering and doing DIY? Certainly AJ Bell would be the best choice after 5 years of LISA accumulation.
    Last edited by Alexland; 10-07-2017 at 8:43 PM.
    • PerfectMess
    • By PerfectMess 15th Jul 17, 3:15 PM
    • 3 Posts
    • 1 Thanks
    PerfectMess
    • #4
    • 15th Jul 17, 3:15 PM
    • #4
    • 15th Jul 17, 3:15 PM
    I thought AJBell would be seen as a good place for my LISA when I saw it was being offered. I figured it has lower fees to buy a multi asset tracker or fund than nutmeg portfolios. If I put £4000 in now, buy £1000+4000 next April/may and invest £1000 bonus the month after, about £15 fees by June including three buying charges. That's less than the £18 for having £4000 in nutmeg for a year. June 18-19 you have £10000 in so £25 fee plus £3 for two buys in AJBell or £45 for nutmeg? Index tracker would have about the same fee as nutmegs fixed allocation.
    Am I missing something? Obviously once other platforms start offering there might be a better option but this seems cheapest so far?
    • Alexland
    • By Alexland 15th Jul 17, 6:37 PM
    • 431 Posts
    • 258 Thanks
    Alexland
    • #5
    • 15th Jul 17, 6:37 PM
    • #5
    • 15th Jul 17, 6:37 PM
    If you are buying a single fund (eg Vanguard Life Strategy) with whole tax year lump sums then yes AJ Bell could have marginally lower fees. However to get really good diversification as Nutmeg achieve with some currency hedging then for a little bit more in fees you get a much better investment.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

3,969Posts Today

8,807Users online

Martin's Twitter