Help needed for S&S ISA!

art200380

Hi


I opened a S&S ISA with Legal & General just over 2 years ago - the fund selected was UK Alpha Trust R.


I pay in each month via Direct Debit but don't really think anything of it (out of sight, out of mind mentality) but I logged on yesterday for the 1st time in a while and was surprised that it seems to be doing ok.


It got me thinking that maybe I could be doing even more with the fund in terms or other funds/lower fees etc.


Can anyone point me in the direction of an easy to read forum/website/article that will give me the basics so I can start looking at this.


At the moment I'm paying in £1k a month, and I think the annual management charge is 1.5%.


Thanks in advance.


Andy

le_loup

Have you looked on the bar above?

Archi_Bald

art200380 wrote: »

I think the annual management charge is 1.5%.

That sounds a gigantic charge. AMC plus platform charge can be well below 1 percent, on hundreds of funds. Use trustnet.com for fund data, and monevator for platform info.

Archi_Bald

le_loup wrote: »

Have you looked on the bar above?

really? haven't seen much of relevance on MSE.

art200380

Thanks Archibald I'll have a look at those 2 sites over the next couple of days.

Vortigern

le_loup wrote: »

Have you looked on the bar above?

Archi_Bald wrote: »

really? haven't seen much of relevance on MSE.

It's relatively new, launched mid-April 2014.

There has been some criticism in the following thread:

https://forums.moneysavingexpert.com/discussion/4948628

Archi_Bald

Yes I had seen that. Bit of a controversial piece of journalism, and perhaps not MSE's finest hour, judging by some of the comments from people with more investment experience than MSE?

jimjames

art200380 wrote: »

At the moment I'm paying in £1k a month, and I think the annual management charge is 1.5%.

You may want to check what you are actually paying now.

If it is still 1.5% then you are being ripped off as that probably included an element of commission which is now banned and the AMC should have been reduced.

You may also want to check your payments as putting in £1k a month over the last 2 years would have exceeded your ISA allowances.

art200380

Thanks JimJames - only upped the DD to £1k per month from Apr14, previously I was paying £900 something, so ok on that front.


Would I be paying any commission and who to? I opened the account directly with L&G and it's a L&G fund isn't it so not sure who would be taking commission?


I logged in last night actually and the actual fee including AMC is 1.68%.


I looked on III for starters as they could hold the fund and if I read it correctly they charge £20/qtr which is clearly a saving. I'm going to phone III to see what other fees would be involved for example would I get charged something each month for adding £1k to the ISA etc....

kidmugsy

art200380 wrote: »

I looked on III for starters as they could hold the fund and if I read it correctly they charge £20/qtr which is clearly a saving. .

Have a look here. You'll see that iWeb are also contenders, for instance.

http://monevator.com/find-the-best-online-broker/

MRMX9

Hold it in cash - wait for the impending stock market crash - and then pile at much cheaper unit prices.

Because to be honest after 5 years of growth the markets are due a correction.

So just be careful!