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Looking for ISA with min monthly contribution of £25
loial
Posts: 5 Forumite
Anyone know of a good value stocks and shares ISA that accepts minimum monthly contributions of less then £50..preferably £25 ??
Snootchie Bootchies!
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Comments
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Invesco Perpetual do. Thats where I tend to send any tiddlers I get. I think M&G do as well.
However, you would be best avoiding going direct as they will be more expensive than going through an IFA. If you have a family IFA get them to do it. It will be cheaper.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Would a Friendly Society not provide a better return on £25 a month?0
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Would a Friendly Society not provide a better return on £25 a month?
No. Far more expensive than a regular contribution unit trust ISA (even if you went direct to them on the most expensive way). No difference in tax. Indeed, possibly ISA would be better if you used a fund that was heavier in bonds. Plus, you get the lousy investment options that the FS has.
Friendly Society plans should either modernise or cease to be offered. They are little different to tax free endowments. Would you have an endowment? Endowments failed to modernise until it was too late and become obsolete (the endowment tax wrapper could actually still work for people like higher rate taxpayers. If it had become like the ISA or pension wrappers, they could still have been in use today). FS plans still work and charge like the old 1980s endowments.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Very useful advice, thank you. They're very unclear about the charges, I was considering taking one out!0
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