Another fund platform question...sorry!

Dr_Wu

Right, that's done.

Took some of the advice on here and also had another 'bit of an old think' and settled on 2 x £15K ISAs using a differnt platform for each. Mine with VLS LS60 and the wife's with HSBC global balanced.

Bought the VLS through their own ISA mainly because they do not charge for subsequent monthly payments in, and the HSBC fund via Fidelity/Cavendish Online which came out cheapest using the platform comparison tool.

All easy enough to do apart from the Cavendish site really not liking Firefox, much easier after switching to IE.

I'll be back in April next year for round 2!

Audaxer

Alexland wrote: »

Finally have you considered recycling £2,880 per year into your or your partner's pension to age 75 for a potential small tax advantage and estate planning benefits? I am planning on recycling into my partner's pension as she is unlikely to have LTA or higher rate tax issues.

Are you planning to put in £2,880 each year in retirement, leave it as cash, and when the tax credit is added to take the balance up to £3,600, draw the lot out and do the same the following year? Is that definitely within the rules?

Alexland

Dr_Wu wrote: »

Took some of the advice on here and also had another 'bit of an old think' and settled on 2 x £15K ISAs using a differnt platform for each. Mine with VLS LS60 and the wife's with HSBC global balanced.

Bought the VLS through their own ISA mainly because they do not charge for subsequent monthly payments in, and the HSBC fund via Fidelity/Cavendish Online which came out cheapest using the platform comparison tool.

We don't do advice just pointers for considering. Still your Vanguard fee will be 0.37% and your HSBC Balanced on Cavendish will be costing 0.44% so an average of 0.405% which is quite reasonable for the amounts concerned. You have gone halves on home bias and halves again on the fixed allocation versus risk managed approaches. As such you may not need to use the more expensive L&G MI fund at all? You will also have no trade fees. Nice result.

If you do that in reverse a few times in future years you can get £200k invested and have full FSCS protection of 4x£50k across institutions and persons.

Alex

Alexland

Audaxer wrote: »

Are you planning to put in £2,880 each year in retirement, leave it as cash, and when the tax credit is added to take the balance up to £3,600, draw the lot out and do the same the following year? Is that definitely within the rules?

No my plan was to continue to invest the money (from our maturing LISAs after helping our son with a house deposit) into one of her pensions and probably, as she is younger, not access it in my lifetime. If she already has enough maybe feed into our son's pension.

In my lifetime we would use marriage allowance to enable the majority of the drawdown to come from my larger pensions. She would only be drawing out enough to avoid income tax plus the 25% tax free each month. Still rules might change by the time I get there.