What would you do?

lolamancity

Oh, after all my waffling, went to bookmark the Vanguard JISA ready to start the transfers this weekend and noticed the minimum monthly desosit is £100. I'm only paying 2x£25 pm at the moment - hell of a jump to £200 & not one i'm ready to take yet.. How annoying!

ValiantSon

Alexland wrote: »

No trade fees with Nutmeg, Moneyfarm, Vanguard (unless you do live ETF trades) or HL (for funds) so provided you meet their minimum regular contribution levels you will be ok.

Just to be clear, Vanguard don't have a minimum regular contribution level. You can make one-off investments and/or set up a regular investment via direct debit, but that is completely flexible so you can reduce/increase the amount as you wish, or stop funding it that way and just go back to ad hoc payments.

Alexland wrote: »

Of those Vanguard (for the ISA and/or JISA?) and HL (for the LISA?) are most financially secure but you still get up to £50k protection under the Financial Services Compensation Scheme. Obviously they won't protect against normal investment losses.

The FSCS protection doesn't operate in the same way as for banks. You are essentially being protected against corporate fraud. Your investments are held in ring-fenced accounts and would be safe even if the provider collapsed, but as I say, it might take a few weeks for you to be able to access them once again.

Vanguard and HL are both pretty financially secure.

Alexland

lolamancity wrote: »

Oh, after all my waffling, went to bookmark the Vanguard JISA ready to start the transfers this weekend and noticed the minimum monthly desosit is £100. I'm only paying 2x£25 pm at the moment - hell of a jump to £200 & not one i'm ready to take yet.. How annoying!

I did mention minimum levels in post #19. HL take small regular contributions but you might be better asking Cavendish who only charge 0.10% more than Vanguard Investor and will give you access to the VLS or VTR funds. Officially they want at least £50 per month but it has been mentioned on this forum that they have accepted £25 per month if you ask nicely...

https://www.cavendishonline.co.uk/investments/buy-junior/

Alex

sjp999

Are you sure the £100 isn't a lump sum minimum?

Hargreaves Lansdown allow £25 monthly payment.

ValiantSon

lolamancity wrote: »

Oh, after all my waffling, went to bookmark the Vanguard JISA ready to start the transfers this weekend and noticed the minimum monthly desosit is £100. I'm only paying 2x£25 pm at the moment - hell of a jump to £200 & not one i'm ready to take yet.. How annoying!

You don't have to make a deposit every month, so you could just save up four months at a time and then invest. As you will be transferring existing ISAs in there should be no issue, as this will qualify for the lump sum.

Alexland

sjp999 wrote: »

Are you sure the £100 isn't a lump sum minimum?

Hargreaves Lansdown allow £25 monthly payment.

£100 is the minimum regular with Vanguard Investor and one of the reasons their platform fee is only 0.15%

HL can afford to only take £25 because their platform fee is 3x higher at 0.45%

Cavendish might be a middle option at 0.25% platform fee if they agree to drop down from £50 to £25.

Alex

Alexland

ValiantSon wrote: »

Just to be clear, Vanguard don't have a minimum regular contribution level. You can make one-off investments and/or set up a regular investment via direct debit, but that is completely flexible so you can reduce/increase the amount as you wish, or stop funding it that way and just go back to ad hoc payments.

Yes agreed I was referring to the minimum level if making regular contributions.

ValiantSon wrote: »

The FSCS protection will come in doesn't operate in the same way as for banks. You are essentially being protected against corporate fraud. Your investments are held in ring-fenced accounts and would be safe even if the provider collapsed, but as I say, it might take a few weeks for you to be able to access them once again.

The FSCS target it to reunite you with your money within 6 months and you may be required to prove that you had investments with the failed institution. That's why I take regular printouts.

https://www.fscs.org.uk/your-claim/how-long-will-it-take/

Alex

lolamancity

I'm really confused now

https://www.vanguardinvestor.co.uk/investing-explained/stocks-shares-junior-isa

is the £100 a month it says not true then?

sorry guys for continuing to rabbit on with myself!

Zorillo

£100 a month or a lump sum of £500. There is no requirement to invest further once you've put the £500 in as far as I can see (and I'll be miffed if there is having just put 2 X £1000 in for my twins!)

Alexland

The key features document says "The minimum payment under a monthly savings plan should be £100 per fund."

So if you don't want to invest regularly that's fine but if you do it's at least £100 per month.