Stocks and shares ISA

edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings
13 replies 2.9K views
SIRUSKEYSIRUSKEY Forumite
58 Posts
edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings
Hi all,

A little bit of back ground. Married without children. No debts other than a car on 0% paid off in 24 months. Mortgage on our home and two buy to let's. Apart from that we don't have debt.

All our income goes into a joint account, from which we give each other "pocket money".

I always have at least £100 a month left. It ends up getting getting spent on rubbish because it's left.

I'm looking to place at least this amount into an s&s isa every month. The plan is 15 years minimum in a managed higher risk fund. (I'm willing to right it off )

The advice I'm looking for is what platform would best suit my needs? I was going to go with Charles Stanley but they want a minimum £1000 initial investment. (I could take it from the household savings but I would rather not.)

What will cost me the least and allow me to regularly save each month?
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Replies

  • masonicmasonic Forumite
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    I'm not sure that minimum applies of you are setting up a regular investment plan.

    Cavendish is an alternative option, which I believe has the same platform fee.
  • Archi_BaldArchi_Bald Forumite
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    Save up £1,000 in a TSB Plus account which pays you 5% AER?

    Or use a 6% Regular Savings account at M&S, FD or HSBC. They No withdrawals until maturity (12 months) so you are safe from yourself?

    Then when you have enough for both, a cash emergency fund and a minimum deposit for your ISA, do the ISA.

    An emergency cash fund should be 6-12 months living expenses.
  • I will have a look at cavendish. Thanks

    e6536ece9a988c7171ceb43be456aaa2.jpg
  • Archi_Bald wrote: »
    Save up £1,000 in a TSB Plus account which pays you 5% AER?

    Or use a 6% Regular Savings account at M&S, FD or HSBC. They No withdrawals until maturity (12 months) so you are safe from yourself?

    Then when you have enough for both, a cash emergency fund and a minimum deposit for your ISA, do the ISA.

    An emergency cash fund should be 6-12 months living expenses.



    I have thought about that. I have other savings. This is more of a long term option from my surplus odd money as it where.
  • Archi_BaldArchi_Bald Forumite
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    OK, I just mentioned it since you didn't mention an emergency cash fund in your OP.

    You can still use a 5 - 6% account for saving up a bit of an initial starting deposit.
  • edited 20 September 2015 at 6:36PM
    masonicmasonic Forumite
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    edited 20 September 2015 at 6:36PM
    Ok, from the PDF you've just screenshot, I can see I've misinterpreted your OP. When you mentioned "Charles Stanley", I naturally assumed you meant "Charles Stanley Direct", the low cost, direct execution only platform, not actually "Charles Stanley" the bespoke private client service run by the same group. Your PDF comes from the latter and that does have a £1,000 minimum on Charles Stanley's own "Matterley" range of funds (which is described on the previous page of the PDF).

    I would therefore recommend Charles Stanley Direct https://www.charles-stanley-direct.co.uk as another alternative for you to consider. This will allow you to set up a regular investment plan for a minimum of £50 per month per fund.
  • colstencolsten Forumite
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    OP, if you are keen to get started with investments but don't know much about them, I would recommend you read http://monevator.com/category/investing/passive-investing-investing/

    You could also investigate whether a robo-advice service would suit your needs. One I know of but haven't used myself (as it doesn't address my needs) is http://www.fiveraday.co.uk/.

    Never rush investment decisions.
  • masonic wrote: »
    Ok, from the PDF you've just screenshot, I can see I've misinterpreted your OP. When you mentioned "Charles Stanley", I naturally assumed you meant "Charles Stanley Direct", the low cost, direct execution only platform, not actually "Charles Stanley" the bespoke private client service run by the same group. Your PDF comes from the latter and that does have a £1,000 minimum on Charles Stanley's own "Matterley" range of funds (which is described on the previous page of the PDF).

    I would therefore recommend Charles Stanley Direct https://www.charles-stanley-direct.co.uk as another alternative for you to consider. This will allow you to set up a regular investment plan for a minimum of £50 per month per fund.


    I think I have confused myself a little! I have indeed been reading on the main Charles Stanley site. When you try to open an account it takes you to the direct site.

    I will read more of the t&c on the direct site.

    Thanks
  • colsten wrote: »
    OP, if you are keen to get started with investments but don't know much about them, I would recommend you read http://monevator.com/category/investing/passive-investing-investing/

    You could also investigate whether a robo-advice service would suit your needs. One I know of but haven't used myself (as it doesn't address my needs) is http://www.fiveraday.co.uk/.

    Never rush investment decisions.


    Thanks,

    I will read more
  • Little more advice please.

    I went with Charles Stanley.

    I'm DD £100 a month which then gets split £50 into two funds. Any other spare month goes in at the end of the month.

    I'm thinking I might up the DD to £150 and the do three different funds.

    Question: would you do £150 each month into the same fund or £50 into three funds?
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