ISA platform

andy001

Hi MSE friends

I've a query regards to S&S ISA accounts please

I'm currently investing small amount monthly in Charles Stanley direct. It's all invested in Vanguard life startegy

I wish to invest directly with vanguard as low charges and will make a difference If I'm investing for 15-20yrs.

My question is - am I allowed to have s&s isa in 2 accounts? Do I need to transfer Charles stanley investment to vanguard too?

If I'm allowed to keep old one in charles stanley -would it be costly over the years and better to transfer anyways?

April is the best time to start new account or we are allowed to start new ISA like now? (2 ISAs in same financial year is not allowed even though less than 20k total; I think- Is it true?)

sorry if these questions are daft

thanks for your help
Andy

Alistair31

You could in the new tax year contribute to a new ISA with vanguard and keep your CSD ISA as is.

Personally though I’d be looking to do an ISA transfer now and have it all with Vanguard. Saying that, check exit/transfer fees and weigh it up.

Alexland

Hard to comment without knowing the account valuation and amount being regularly contributed.

For a small amount then transfer from CSD to Vanguard Investor for the cheaper at 0.15% platform fee. They require a minimum lump sum of £500 or regular contribution of £100 per month. However consider the break-even point on any CSD exit fee which depends on the account valuation and fee difference (0.20%).

When it gets big enough, say nearly £25k, consider transfereing to Halifax Share Dealing at £12.50 pa + £2 per regular scheduled VLS trade so £36.50 pa. On a fixed price platform the account fees become a decreasing percentage as your investments grow.

Alex.

[Deleted User]

@Alexland, iWeb Share could be cheaper option comparing to Halifax. There is no annum fee, and you pay only £5 per trade.


Here is comparison between Vanguard (best on the market for monthly contributions into Vanguard funds only) vs iWeb (best on the market for lump sums into any fund or stock):

https://www.youtube.com/watch?v=Vdbj08NtP0I

Alexland

If the OP is contributing monthly the iWeb at £5 per trade is £60 pa compared to £36.50 pa on Halifax SD?

andy001

Hi Alexland, pioruns, & Alistair

Thanks for your replies

My situation- I've increased to £500pm recently and few savings added to grand total £17k now. (Various life strategies in CSD)

I intend to chuck in more if possible from April. Which platform would be ideal?
Thanks Andy

Alexland

Aah you are holding several different VLS funds - are you also regularly contributing to multiple funds? How many, which ones and do you expect it to continue? This would increase trade costs on a fixed fee platform such as HSD/iWeb and make Vanguard Investor more attractive even as the account valuation grows above £25k.

andy001

Thanks. I have decided to invest only in LS 100 and 60 now onwards (half and half) 2 transactions a month- .. Regards
Andy

Alistair31

Why not just use VLS80 ?

Alexland

If you were willing to reduce to one fund VLS80 (suggest you do this before the transfer) then at the rate you are contributing HSD will be cheaper than Vanguard Investor after just over 1 year.

So you could transfer to VI now then move to HSD later or for the sake of the small fee difference just move to HSD now.

Alex

andy001

Thanks a lot Alexland.