Cheapest platform for my investments

neilsolaris

Hi JohnRo,

I didn't realize that peer to peer was particularly risky. I assumed that because I was lending to so many different companies the overall risk was negligible. But I'll take this into account.

Including my funding circle interest (which I understand counts towards the PSA allowance) I receive pretty much £1,000 per year in interest.

In terms of which investments I'm planning to hold, I don't really know! I'm a very lazy investor, I'd prefer to leave it, and not have to check on it too often. Also, as I'm a self employed classical musician, my income is very erratic. Therefore, I'd be looking to make ad hoc top up payments whenever I'm able to (probably about once a year).

I'm not sure what tax wrappers to choose from. The only ones I can think of right now are ISA and SIPP. Are there others that I should be considering? I'll probably stick to what I've got, in terms of stock, as I want to keep it as simple as possible. Maybe I can change this strategy in the future if I become more motivated!

Many thanks for your help.

neilsolaris

Sorry to keep coming back! I was looking at that vanguard lifestrategy fund that you mentioned before JohnRo, and I was thinking I could stick all my cash from the sail of my HL stocks into that (after I've transferred it into another platform provider). I notice that there are different types, with different ratios of stocks and bonds. I was thinking maybe the Moderate Growth fund could be a suitable one for me, what do you think?

I was thinking about transferring to x-o, as they charge a fixed fee of £60 for the ISA, and no fee for the SIPP. The dealing charge is £9.50, but if I rarely make payments, plus if I only have one fund in each then it shouldn't amount to much. Or is x-o not the cheapest in my circumstances?

Many thanks.

bigadaj

neilsolaris wrote: »

Sorry to keep coming back! I was looking at that vanguard lifestrategy fund that you mentioned before JohnRo, and I was thinking I could stick all my cash from the sail of my HL stocks into that (after I've transferred it into another platform provider). I notice that there are different types, with different ratios of stocks and bonds. I was thinking maybe the Moderate Growth fund could be a suitable one for me, what do you think?

I was thinking about transferring to x-o, as they charge a fixed fee of £60 for the ISA, and no fee for the SIPP. The dealing charge is £9.50, but if I rarely make payments, plus if I only have one fund in each then it shouldn't amount to much. Or is x-o not the cheapest in my circumstances?

Many thanks.

Vanguard lifestrategy is a oeic or open ended fund, I don't think you can hold this with x-o, only shares.

neilsolaris

Thanks bigadaj, that's very useful to know. Knowing it's an oeic I'll see which platform offers the best deal for my situation.

In case anyone can help here, my total S&S ISA amount is £43,676 and my total SIPP amount is £10,118. I'll be looking to make payments about once a year.

Thanks.

neilsolaris

When I run my figures through the https://www.comparefundplatforms.com website, it asks me (a) Do you want to hold funds? (excludes investment trusts & exchange traded funds (ETFs) or (b) Do you want to hold Shares? (includes investment trusts & exchange traded Shares (ETFs)).

Which category does oeic fall into?

Thanks.

richyg

OEICs are funds. eg Vanguard Lifestrategy, etcetera.

ETF's and Investment Trusts are shares.

You should be able to check which is which eg in the literature or by searching on say HArgreaves Landsdown which has separate searches for shares and funds.

neilsolaris

Thanks richyg. On that basis Halifax Sharedealing is coming out top.

Gram_Parsons

neilsolaris wrote: »

Thanks bigadaj, that's very useful to know. Knowing it's an oeic I'll see which platform offers the best deal for my situation.

In case anyone can help here, my total S&S ISA amount is £43,676 and my total SIPP amount is £10,118. I'll be looking to make payments about once a year.

Thanks.

I have roughly similar amounts but the other way around i.e. my SIPP is 4x my S&S Isa. Given the generous tax relief on pension contributions, I'm interested in your strategy and thought process. Not criticising or saying you're wrong in any way just that your SIPP seems light compared to your Isa.

neilsolaris

Hi Gram.

My strategy is not very well thought out to be honest. The only reason I haven't invested more in my SIPP is that I'm worried in case I suddenly need the funds. But I think I should invest more. I'll have access to it in about 11 years anyway!

Do you mind me asking what kind of investments you hold in your SIPP and S&S ISA?

richyg

JohnRo wrote: »

Just sell to cash for the amount you want to transfer but leave say £50 worth of something sensible, like a vanguard lifestrategy fund, in the account then leave it alone. Check on it once a decade or something

I thought about trying this but I dont think it will work. HL will want to take their .45% fee - and if there is no cash - then they will force a sale of units and add on a £1.50 charge each time they need to do it. In my thinking this will take it down to zero after a year or two anyway. Please correct me if i am wrong but that how I see it working.