Stocks and shares ISA - HSBC any good?

cjakers147

Hi all,

First time posting, but have been reading and lurking for a while!

I have a couple of questions about stocks and shares ISAs that I haven't been able to find addressed anywhere, that I'd be really grateful if you could help me with - please excuse my ignorance!

1. How are stocks and shares ISAs represented visually in online banking? Do you see a 'balance', like with savings accounts - would the 'balance' fluctuate day by day according to success/failure of the investments? Do they appear alongside your other accounts (e.g on HSBC dashboard?)

2. Does anyone have any experience with HSBC 'World Selection' ISA? I'd be really interested to hear if it's worked for you.

Thanks a lot in advance!
Chloe

ValiantSon

cjakers147 wrote: »

Hi all,

First time posting, but have been reading and lurking for a while!

I have a couple of questions about stocks and shares ISAs that I haven't been able to find addressed anywhere, that I'd be really grateful if you could help me with - please excuse my ignorance!

1. How are stocks and shares ISAs represented visually in online banking? Do you see a 'balance', like with savings accounts - would the 'balance' fluctuate day by day according to success/failure of the investments? Do they appear alongside your other accounts (e.g on HSBC dashboard?)

What you see depends on which platform you are using, but int general you should see the current value of the ISA.

Yes it would change daily as the underlying value of the investments changed.

cjakers147 wrote: »

2. Does anyone have any experience with HSBC 'World Selection' ISA? I'd be really interested to hear if it's worked for you.

Thanks a lot in advance!
Chloe

HSBC do have some good funds, but I'd hesitate over using their ISA as it is limited to a small range of funds and the charges for them are pretty high.

You'd be better or finding the funds you want to invest in (HSBC Global Strategy would actually be a good contender) and then doing this on the most cost effective platform. As a comparison, the HSBC World Selection ISA - investing in their Balanced fund would cost 1.06%, but investing in HSBC Global Strategy Balanced via Cavendish Online would cost 0.43%.

Tcquins

I!!!8217;ve got an HSBC invest direct s&s ISA as I bank with them. You can see the overall value on your dashboard with your other accounts.

However, HSBC invest direct charges something like £40 a year to have it. Which seems a bit of a waste. So I would consider moving as it it!!!8217;s just another addition of charging even if dealing charges on individual shares are cheap.

World Selection ISA is a little different and their choice of funds isn!!!8217;t too bad. It!!!8217;s not too expensive either. Yes you can muck around with Hargreaves Lansdown and all the rest of it. But if it!!!8217;s simplicity you!!!8217;re after with your current account it!!!8217;s not too bad.

cjakers147

Cheers for this - yes, I'm a novice stocks & shares investor so something ultra simple would be necessary, perhaps the World Selection is a go-er.

ValiantSon

cjakers147 wrote: »

Cheers for this - yes, I'm a novice stocks & shares investor so something ultra simple would be necessary, perhaps the World Selection is a go-er.

Honestly, buying one multi-asset fund (like HSBC Global Strategy, Vanguard LifeStrategy, or Blackrock Consensus) through a third party platform is not complex at all and will cost you a hell of a lot less!

Alexland

World Selection funds are a bit more tame than the Global Strategy fund series. As per ValiantSon's post the buying GS via Cavendish is around 0.6% per year cheaper which is a good saving for the effort of having an extra login to remember.

ValiantSon

Tcquins wrote: »

World Selection ISA is a little different and their choice of funds isn!!!8217;t too bad. It!!!8217;s not too expensive either. Yes you can muck around with Hargreaves Lansdown and all the rest of it. But if it!!!8217;s simplicity you!!!8217;re after with your current account it!!!8217;s not too bad.

Really? Compared to HSBC's own Global Strategy funds? More than twice the price is not too expensive?

cjakers147

Do the Global Strategy funds via Cavendish come under the ISA wrapper?

Alexland

Yes in a Cavendish S&S ISA

cjakers147

Thanks for the good advice

Alexland

Tcquins wrote: »

IBut if it!!!8217;s simplicity you!!!8217;re after with your current account it!!!8217;s not too bad.

I think you want the sister site MoneyWastingExpert. Still even paying 2.5x as much isn't as bad as some high street investment options.