How do you set up a S and S Tracker ISA?

jamesd

stinktankcynic wrote: »

Thanks for the cannot transfer in same year info.

You can transfer as often as you like, but it must be all of the money paid in during the current tax year, not just part of it.

stinktankcynic

innovate wrote: »

Seems you are mixing up various things there. You are right, you are only allowed to save into one cash ISA, and invest into one S&S ISA a year.

In a cash ISA, you are saving Pound Stirling cash. You cannot save any other currency into it. You are very likely to transfer your cash ISA to a different provider within a short period (12 to 36 or so months), just simply to get the best interest rate.

In a S&S ISA, you are investing your money into one or more funds, or shares, from any number of companies. Whilst you can transfer a S&S ISA, you probably are not doing it as frequently as a cash ISA because you are likely to have made a conscious decision which platform/broker gives you the best infrastructure for your investments Within the S&S ISA wrapper, you can change/add to/dispose off your initially selected funds as often as you like, including selecting any firm/company you fancy. Again, you would probably not change very often because that would defeat the whole object of investing, which has a long-term horizon, say 7 years upwards.

I can only urge you once again to throughly read up about the fundamentals of investing because you have demonstrated you don't know them. This isn't anything to feel bad about - nobody gets born with the knowledge. But if you don't acquire the knowledge, you are hurting only one person - yourself.

You are missing the point or not understanding what I am trying to ask. Basically In the new tax year, I cannot go online and invest directly £2000 with richinvestor and then £3000 with superfund, ie open up two stocks and shares isas.
But I can go to a broker, get a cheaper deal and invest in both superfund and richinvestor funds the full isa allowance?

innovate

stinktankcynic wrote: »

You are missing the point or not understanding what I am trying to ask................But I can go to a broker, get a cheaper deal and invest in both superfund and richinvestor funds the full isa allowance?.

I don't think I do. I already answered most of your question.

innovate wrote: »

Yes, provided the broker/platform offers these funds.

A decent broker/platform will offer you a vast choice.

You are now also asking whether you get a cheaper deal through a broker/platform - - the answer is 'most likely but not necessarily'. But costs are - or should be - just one aspect of your selection.

jamesd

stinktankcynic wrote: »

But I can go to a broker, get a cheaper deal and invest in both superfund and richinvestor funds the full isa allowance?

Yes, if by superfund and richinvestor you mean things like funds offered by Invesco perpetual, HSBC, Allianz and many other fund companies, as well as ETFs and shares, all managed by you at one place, called a "fund supermarket", though broker and other terms can be used. The supermarket concept explains it well, like a supermarket you can find many brands under one roof instead of having to go to the warehouses of each brand individually.

If you buy directly from the fund management company you'll probably pay an initial charge. You probably won't pay an initial charge if you buy via a fund supermarket instead. There may also be discounted or rebated to you annual management charges for the fund. Or you can find versions with pre-reduced annual management charges that pay no commission at some places, those start out around 0.75% cheaper in AMC for a typical managed fund with a 1.5% AMC in the commission-paying form.

jimjames

stinktankcynic wrote: »

So, I cannot put half my cash with two fund managers direct, but by using a broker i can invest in those two funds?

Yes.

And it will almost certainly be cheaper via the broker (fund supermarket)

dunstonh

jimjames wrote: »

Yes.

And it will almost certainly be cheaper via the broker (fund supermarket)

Although that may well change post platform review. We could see fund houses get into bed with certain platforms (already happening with some) or they may decide to retail their own funds direct without a retail charge or a much smaller retail charge than a platform. Or they may decide to stay greedy and charge full whack as most do currently.

stinktankcynic

Thanks to both James above. That's the info I wanted to check.:j