Hargreaves Lansdown Vantage Stocks & Shares ISA

spikeytroll

A quick bit of advice if anyone out there can help.

When buying funds through the above account, most of the funds have a minimum investment of £1000 (though this does vary), but most have a minimum regular monthly investment of £25 and upwards.

Is it correct however that you have to invest the minimum sum before being able to top up the funds on a monthly basis, or can you avoid the minimum initial investment of £1000 by setting up a monthly smaller investement sum to start with?

dunstonh

Is it correct however that you have to invest the minimum sum before being able to top up the funds on a monthly basis

no.

or can you avoid the minimum initial investment of £1000 by setting up a monthly smaller investement sum to start with?

yes

spikeytroll

HI Dunstonh,

thanks for the rapid answer! I cant seem to work out how to set up a regular monthly investement using the system - I keep getting asked for a minimum deposit of £1000!

Any suggestions?

Mikeyorks

Either of these links should achieve it (the minimum investment is £50pm) :-

http://www.hl.co.uk/investment-services/isa/regular-savings-in-an-isa

http://www.hl.co.uk/investment-services/isa

spikeytroll

Hi Mike,

thanks for your post. I have already opened an account on the site, so once I sign in to my account, there doesn't appear to be any way of setting up a monthly investement i.e. putting money into my chosen funds (There is however very clear ability to pay in money to the ISA on a monthly basis!)

Does that make any sense!?

Mikeyorks

spikeytroll wrote: »

Does that make any sense!?

I'm thinking about it!

Just to the right of the 2nd para from this link :-

http://www.hl.co.uk/investment-services/vantage-service/regular-savings

............... there's a further link headed 'Set up monthly savings in an existing ISA'. Which leads directly to a login ..... so I suspect that's headed in the right direction?

If that doesn't do the Eureka bit (there's a pdf on Regular Savings but its currently a duff link) ...... they're pretty helpful on the 'phone. Clearly you need funds available (DD / cheque / Debit Card) before you choose funds. But - with regular savings - you obviously wish to be able to aim at certain Funds ..... until you tell it to stop / vary?

I know you can achieve that. And I know I've seen it described both on their site and discussed on here ..... but can't now find it. And (I have accounts with them) it's not something I do.

spikeytroll

Thanks again Mike,

That link takes you to a page to set up paying money into the ISA every month, but it doesn't let you set up buying funds on a monthly basis!

Thanks for the suggestion though, I will give them a call tomorrow!

Spikey.

Mikeyorks

spikeytroll wrote: »

Does that make any sense!?

It does now! Just logged into my account thinking it would give me little info as I'm fully paid up for 2011-12. But .............. there is a little tab on your account (6th from left) headed 'Monthly savings'.

If you click on that then 'Start a regular savings plan in this account now ....' it does all that you need????


PS

There's also a free (downloadable) guide to Regular Savings here (top line - centre) which may be worth a quick read?

http://www.hl.co.uk/news

spikeytroll

Wow, above and beyond Mike, thanks again for your advice, I've finally cracked it!

I've spent the last few months reading all the guides, not sure how I missed how to do this one!

Thanks again

Spikey.

Aegis

spikeytroll wrote: »

A quick bit of advice if anyone out there can help.

When buying funds through the above account, most of the funds have a minimum investment of £1000 (though this does vary), but most have a minimum regular monthly investment of £25 and upwards.

Is it correct however that you have to invest the minimum sum before being able to top up the funds on a monthly basis, or can you avoid the minimum initial investment of £1000 by setting up a monthly smaller investement sum to start with?

Others have dealt with the how, but just a brief warning to let you know that the annual discounts no longer apply for fund holdings less than £1,000, so you'll be paying full retail AMC on your portfolio until you build up the value a bit.

spikeytroll

Thanks Aegis, I wasn't aware of that.