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Advice on Vanguard funds
Comments
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You cannot transfer the funds you hold in a general account to the ISA account, you have to sell the funds in the general account then transfer the sale proceeds to the ISA account then buy the same funds in the ISA account. It's called 'bed & ISA'. Some platforms facilitate doing a bed & ISA the same day but others you will have to wait until settlement day on the sale (day 3 I think usually) then transfer the cash and re-buy so you may be out of the market for a minimum of 3 days. I am not sure what facilities iWeb have for bed and ISA.and there is no problem then to have £40k(£20k19/20 £20k 20/21) of vanguard LS80% in the s&s isa and £20k of the same fund in the general account ready to transfer the following tax year, all for the same initial £25 fee and the £5 transaction costs?0 -
You cannot transfer the funds you hold in a general account to the ISA account, you have to sell the funds in the general account then transfer the sale proceeds to the ISA account then buy the same funds in the ISA account. It's called 'bed & ISA'. Some platforms facilitate doing a bed & ISA the same day but others you will have to wait until settlement day on the sale (day 3 I think usually) then transfer the cash and re-buy so you may be out of the market for a minimum of 3 days. I am not sure what facilities iWeb have for bed and ISA.
i did mean bed & ISA not transfer, something i learnt recently, but thank you for pointing it out.0 -
Vanguard platform fee is 0.15% but then you need to add fund charge too, which could be another 0.22% for the LifeStrategy funds, so a total of 0.37% per yearThere's a £5 fee to buy or sell with iWeb, but that's the only charge, other than the initial £25. Direct with Vanguard, you would be charged .15% of your holding every year (£30 for a £20k holding)0
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