Stocks & Shares ISAs

makey1976

i have just put full amount into my isa at my bank.
question is can i transfer out say 5000 and put that into a stocks and shares isa, or does it need to leave it in isa for full year .
Also were the best place to open a s&s isa at moment.
thanks

Archi_Bald

makey1976 wrote: »

i have just put full amount into my isa at my bank.
question is can i transfer out say 5000 and put that into a stocks and shares isa, or does it need to leave it in isa for full year .
Also were the best place to open a s&s isa at moment.
thanks

You can only transfer all deposits made in the current year. http://www.hmrc.gov.uk/isa/faqs.htm#6

"Best place to open an S&S ISA" - it depends on your requirements. Various places compare platforms, e.g. http://monevator.com/compare-uk-cheapest-online-brokers/

Archi_Bald

Blue2 wrote: »

My husband and I have retired. The bulk of our savings are in stocks and shares Nisas. If the market were to collapse could we lose everything we have saved for ? Thank you

Investments can go up and down, just as they always could.

Losing your entire investment is unlikely unless you have very high risk investments, or there is a financial crisis of apocalyptic proportions (in which case investments would be the least of our worries). Perhaps you should be seeing an independent financial advisor to discuss your changed circumstances.

dunstonh

If the market were to collapse could we lose everything we have saved for ?

Yes. However, you wouldnt care as you would be boarding up your windows, stacking up on tin foods and getting hold of guns.

However, collapse is probably not what you mean unless you live in the world of the Daily Mail. Investments go down as well as up. Always have, always will. Significant drops occur on a fairly regular basis. It should not be a shock or a surprise but part of what you expect. You average out the ups and downs.

Brand

I dealt with this on page 9

Brand wrote: »

. . .
on the topic of switching to cash gradually versus all at once, to go with my suggestion of discussing with someone at Share Centre, there is a DiY suggestion of how to spot the time when you might consider switching from stockmarket to cash https://uk.finance.yahoo.com/q/ta?s=%5EFTSE&t=my&l=off&z=l&q=l&p=m300&a=&c= i.e. move to cash at present if FTSE 100 falls to 6,500 https://uk.finance.yahoo.com/q/ta?s=%5EFTSE&t=1y&l=off&z=l&q=l&p=m300&a=&c=

I was wrong on:
1. there was no "sell in May" fall this year, and the normall dodgy summer period May to August has been OK for investors, with a couple of small % falls at most.
2. there were no significant offers for cash ISA July 2014 "£15k" money. Banks are awash with cheap cash from the Bank of England and don't want to lend it, so will pay no more than a pittance for our savings.
3. there were no particularly attractive Stocks&Shares charging deals
4. H-L seems to have weathered the storm of its 0.45% annual charge as well as can be expected (Its shares actually rose, though have since tailed off a lot)
On the other hand:
1. H-L has entertained the idea of a flexible NISA for those who want to switch temporarily to cash, though its annual charge will swallow the interest offered.
2. The stockmarket has been going sideways for a few months, and looks a tired and unconvinced ,so a prudent person would be starting, from a few weeks ago, to drip out some investments into cash, expecially on worst-performing shares and funds, with a view to reinvesting if a tempting pullback occurs.
FTSE 100 is now 6,800.
The line on the graph giving the rule shows 6,650 at present. Any one-day dip could hit that, so it depends how strictly you want to apply the rule.
A pullback to 6,600, though, is very plausible, I think, so bargain for that, at least, and looks for convincing holding of 6,600 over a series of weeks
The serious worry level remains if it stays a week or so below 6,500, I think.
Share investment works by buying good shares or good funds and leaving them alone to do their stuff.
You can either leave them completely alone and trust in that concept, you can lightly monitor with the levels and the graphs above, or you can say I don't understand this stuff and I don't want any worry at all, so you will now, since July, be able to find a cash-style NISA and transfer your Stocks and Shares ISA into that cash-style NISA. It sounds like that is the best solution for you.
All the above is my opinion and how I see it.
Way off topic I know, but this topic has been raised on this thread, so I have commented on it.

bowlhead99

Brand wrote: »

2. The stockmarket has been going sideways for a few months, and looks a tired and unconvinced ,so a prudent person would be starting, from a few weeks ago, to drip out some investments into cash, expecially on worst-performing shares and funds, with a view to reinvesting if a tempting pullback occurs.

(my underlining)
So what you're saying is, when the market shoots up for five years in a row and flattens off a bit, the investments you should move back to cash are the ones that performed worst over the bull run? Interesting, because many would advocate that your rebalance towards cash be coming from the assets that performed best in the upswing as they are the ones that would logically perform worst in the downswing and be most likely to offer 'tempting' prices after a pullback.

If the fund you hold is a long term poor performer *amongst its directly comparable peers* then there may be a reason for you not to want to hold it, and after reviewing in detail it could be valid to dispose of it whether or not you foresaw a general market drop. However if you consider a relatively cautious mixed asset fund that has only delivered 70% since the bottom of the credit crunch, rather than 200-300%+ like some funds, it would seem crazy to sell the cautious fund as the 'worst' performer in your portfolio ahead of what you perceived to be a forthcoming market downturn.

Brand

bowlhead99 wrote: »

(my underlining)
So what you're saying is, when the market shoots up for five years in a row and flattens off a bit, the investments you should move back to cash are the ones that performed worst over the bull run? Interesting, because many would advocate that your rebalance towards cash be coming from the assets that performed best in the upswing as they are the ones that would logically perform worst in the downswing and be most likely to offer 'tempting' prices after a pullback.

If the fund you hold is a long term poor performer *amongst its directly comparable peers* then there may be a reason for you not to want to hold it, and after reviewing in detail it could be valid to dispose of it whether or not you foresaw a general market drop. However if you consider a relatively cautious mixed asset fund that has only delivered 70% since the bottom of the credit crunch, rather than 200-300%+ like some funds, it would seem crazy to sell the cautious fund as the 'worst' performer in your portfolio ahead of what you perceived to be a forthcoming market downturn.

Yes those are good points of view. I was trying to update on my post on page 9.

Markzx6

I have a question - has anyone got an opinion of Nutmeg?

I've read this thread, searched the forums and not found any real reviews. My situation is I have a lump sum to invest, then monthly drip feed in. I read the guide, I am one of the people who would chose the platform (providing it has a wide selection of funds), and then chose the funds. Started doing some research into funds (I get the varying levels of risk vs reward), but there are so many to choose from, it's basically informed gambling, plus I don;t have the time to do the level of research I woudl want to, so it all got a bit scary. Then I found Nutmeg - you put in your lump sum, monthly investment and level of risk,. and it creates a portfolio for ~1% fee - seems right for me, I'm happy to pay a small fee for this level of assistance - just wanted advice from anyone who has used it.

Archi_Bald

Lots and lots and lots on Nutmeg on the forum: https://www.google.com/search?as_q=&as_epq=nutmeg&as_oq=&as_eq=&as_nlo=&as_nhi=&lr=&cr=&as_qdr=all&as_sitesearch=forums.moneysavingexpert.com&as_occt=any&safe=images&tbs=&as_filetype=&as_rights=&gws_rd=ssl

1% annual charge might not sound a lot, but it is in fact an incredibly steep, and very avoidable, premium. You can get perfectly good investments for less than half.

http://monevator.com/category/investing/passive-investing-investing/ has better suggestions, IMO. Vanguard Lifestrategy on iWeb could be a much better choice.

rbanksy

Any reason not to use first directs stocks and shares nisa?

I find it hard to know what they charge.