Stocks & Shares ISA

RichieRooo

I'm looking to open a Stocks & Shares ISA and as I've no prevous experience, I was looking to get a managed one where I would just choose a profile based on risk, high, medium and low etc...
I looked at Virgin as I have a couple of accounts in other areas with them but they charge 1% and it doesn't seem to be managed. They do have risk profiles to pick from but it says it is passive so managed by the index and auto computed?

Alternatively, I have a pension with Standard life and they offer managed ISA's, again based on risk profile level. They do seem to manually manage them as opposed to Virgin but they charge more, overall works out around 1.3% on their basic profile.

Just looking for some guidance really on which way I should turn for a managed ISA. Help appreciated.

TrustyOven

RichieRooo wrote: »

I'm looking to open a Stocks & Shares ISA and as I've no prevous experience, I was looking to get a managed one ...

Is that all that's stopping you from DIY? Everyone starts with no experience but they learn...

RichieRooo wrote: »

Just looking for some guidance really on which way I should turn for a managed ISA. Help appreciated.

I don't really know about Virgin. Perhaps some of the traditional platforms have managed S&S ISAs?

The following page with the table gets posted a lot, and while I think it mainly caters to the DIY investing audience, some of the brokers/platforms there might do managed S&S ISAs.

This page:
http://monevator.com/compare-uk-cheapest-online-brokers/

I just clicked a few randomly selected ones from the list (but i'm not clued up on managed investments, so don't take any of these as recommendations):

BestInvest do some
http://www.bestinvest.co.uk/ready-made-portfolio

H-L:
http://www.hl.co.uk/investment-services/isa/ready-made-isa

Fidelity:
https://www.fidelity.co.uk/investor/isa/open-isa/stocks-and-shares-isa/pathfinder-isa.page?context=isa

Aviva:
https://www.direct.aviva.co.uk/myfuture/ReadyMade

Take a look and see which is appropriate for you.

talexuser

Virgin is not competitive at all anymore for what are in effect just tracker funds. You could get the same for a fraction of their charges.

grey_gym_sock

if you use passive multi-asset funds, you can get total costs down to about 0.5% ... with active funds, you can easily pay 1% or more. ... (virgin appear to be charging 1% for passive funds, which is too much.)

some of TrustyOven's links give you a convenient interface to select a fund at your choice of risk level - though most of them steer you into more expensive active funds.

alternatively, you can pick a fund yourself, and then find a cheap platform to buy it on. you should expect to pay about 0.25% for the fund itself, + 0.25% for the platform.

3 ranges of multi-asset funds often mentioned on here (each has a number of risk-levels to choose from) are:
- vanguard lifestrategy
- legal & general multi-index
- blackrock consensus

3 platforms which are cheap for smaller amounts invested, each charging 0.25%, are:
- cavendish online
- close brothers
- charles stanley direct

note that those platforms are less good value when you get to a larger total amount invested (perhaps £20k+ or £30k+).

TrustyOven

grey_gym_sock wrote: »

alternatively, you can pick a fund yourself, and then find a cheap platform to buy it on. you should expect to pay about 0.25% for the fund itself, + 0.25% for the platform.

That would make sense (to me) but the OP suggested they didn't want to learn and DIY (mentioning "managed", which I take to mean someone else decides what to do at all steps, and not the same as active).

RichieRooo

Thanks for the information everyone. Yes I do like the look of the cheaper charges for self managing but I would rather opt for a more managed approach as I've not any experience at all and don't currently have enough time to study and learn.

Has anyone had experience with Standard Life ISA's?

I also notice one called MoneyFarm which I've never heard of ?

I'll definitely be swerving Virgin, expensive for a passive one!

Mogley

I have a standard life S&S ISA taken out earlier this year. It is my first one which I drip feed a monthly amount. It was quick and easy to setup. I chose the managed fund 'MyFolio Managed IV Fund' based on my risk tolerance at the time. This fund invests in a broad range of other investment schemes to satisfy my diversification needs. The standard life web platform is ok if you just want to see how fund performance tracks periodically. If you think you've chosen the wrong fund, you can't change it online, you have to contact them directly.

I took out the SL S&S ISA when I wanted simplicity and before finding this forum. I now realise that I could get a similar mix of funds at far lower costs which will be of benefit long term if I do a bit of simple DIY. I plan to open a new S&S ISA next year, stop paying into this one and transfer the small amount I'll have into my new S&S ISA.

Eco_Miser

RichieRooo wrote: »

Thanks for the information everyone. Yes I do like the look of the cheaper charges for self managing but I would rather opt for a more managed approach as I've not any experience at all and don't currently have enough time to study and learn.

Follow grey gym sock's suggestion, and there is virtually no management involved - just pick a fund, pick a platform, open an ISA, pay your money in, and buy the chosen fund, then get on with your life while the fund manager does the hard work.

bigadaj

Eco_Miser wrote: »

Follow grey gym sock's suggestion, and there is virtually no management involved - just pick a fund, pick a platform, open an ISA, pay your money in, and buy the chosen fund, then get on with your life while the fund manager does the hard work.

Fund manager does the hard work? Those lunches with foie gras and caviar do get quite tiresome I suppose.

Ggs's suggestions are pretty much all computer controlled, though l &g does have some human input.

Eco_Miser

bigadaj wrote: »

Fund manager does the hard work? Those lunches with foie gras and caviar do get quite tiresome I suppose.

Ggs's suggestions are pretty much all computer controlled, though l &g does have some human input.

OK, so it's the manager's computer that does the hard work, the point is that minimal work or knowledge is required from the investor.

DrSyn

1.Take a look at these videos.

http://monevator.com/this-former-hedge-fund-manager-reveals-how-you-can-invest-for-life-in-five-quick-videos/

http://meaningfulmoney.tv/category/investment/


2. Investigate Vanguard Lifestrategy Funds. Then all you need to do would be to chose your equity/bond split depending on your risk appetite.grey gym sock

3. Read grey gym sock post#4.