How to move money from cash ISA into the stock market

RyanHello

Swipe said:

moneyfoolish said:

eskbanker said:

moneyfoolish said:

From the Cash ISA frying pan into the S&S ISA fire!

Someone calling themselves foolish making a nonsensical observation to someone calling themselves an idiot, let's hear it for the blind leading the blind....

my belief is that the stock market is headed for a very large fall so I don't see anything too nonsensical in those observations.

In other words, a perfect buying opportunity if/when it happens.

That belief is already priced in. This is a unique situation, we can't compare it to previous crashes.
To answer the OPs question. You're not going to go wrong with a low risk global multi asset fund 
There's Vanguard stocks and shares ISA and HSBC investments do one also. Low annual fee. Think it's 0.45%

FinancialIdiot

moneyfoolish said:

From the Cash ISA frying pan into the S&S ISA fire!

It certainly feels like that.

FinancialIdiot

RyanHello said:

That belief is already priced in. This is a unique situation, we can't compare it to previous crashes.
To answer the OPs question. You're not going to go wrong with a low risk global multi asset fund 
There's Vanguard stocks and shares ISA and HSBC investments do one also. Low annual fee. Think it's 0.45%

Thanks - that's just the sort of information I was looking for. I'll investigate what HSBC offers.

Any further suggestions would be welcome.

Albermarle

Do not get the S&S ISA and the investments within it mixed up .
You can transfer the whole amount into one S&S ISA and hold Vanguard VLS 60 + HSBC global strategy + other investments within the same ISA . You just need one that offers a good and wide choice of investments ( some ISA'a restrict you to just their own investments like the Vanguard ISA does ) 

FinancialIdiot

Ok, thanks. I think I've got it now (at last). So I should possibly avoid opening an ISA with Vanguard (as it has so few funds) and instead maybe open it with Cavendish Online and add the two funds I want (including VLS60). I presume I could still open separate ISAs with Vanguard and HSBC for each of the two funds if I wanted to but it possibly isn't worth the extra effort? Or would it actually result in higher charges as I'd be paying two different ISA providers?

eskbanker

FinancialIdiot said:

Ok, thanks. I think I've got it now (at last). So I should possibly avoid opening an ISA with Vanguard (as it has so few funds) and instead maybe open it with Cavendish Online and add the two funds I want (including VLS60). I presume I could still open separate ISAs with Vanguard and HSBC for each of the two funds if I wanted to but it possibly isn't worth the extra effort? Or would it actually result in higher charges as I'd be paying two different ISA providers?

No, you can only pay into one S&S ISA in any tax year*, so the point Albermarle was making was that you can hold Vanguard and HSBC funds within the same ISA, not that you'd use multiple ISAs to hold them.

* Edit: should have been more precise with the terminology, the constraint is that you can only pay new money into one S&S ISA in any tax year - this is old money so that doesn't apply.

Albermarle

eskbanker said:

FinancialIdiot said:

Ok, thanks. I think I've got it now (at last). So I should possibly avoid opening an ISA with Vanguard (as it has so few funds) and instead maybe open it with Cavendish Online and add the two funds I want (including VLS60). I presume I could still open separate ISAs with Vanguard and HSBC for each of the two funds if I wanted to but it possibly isn't worth the extra effort? Or would it actually result in higher charges as I'd be paying two different ISA providers?

No, you can only pay into one S&S ISA in any tax year, so the point Albermarle was making was that you can hold Vanguard and HSBC funds within the same ISA, not that you'd use multiple ISAs to hold them.

The OP is not using new money to fund the S&S Isa's ( transferring from a cash ISA), Is he still restricted to only opening one new S&S ISA in a tax year ? In any case he only needs one really .

Regarding the charges there are small differences in charging structures between different providers but the differences are insignificant when you think your actual investments could gain or lose the same amount in a single day.

eskbanker

Albermarle said:

eskbanker said:

FinancialIdiot said:

Ok, thanks. I think I've got it now (at last). So I should possibly avoid opening an ISA with Vanguard (as it has so few funds) and instead maybe open it with Cavendish Online and add the two funds I want (including VLS60). I presume I could still open separate ISAs with Vanguard and HSBC for each of the two funds if I wanted to but it possibly isn't worth the extra effort? Or would it actually result in higher charges as I'd be paying two different ISA providers?

No, you can only pay into one S&S ISA in any tax year, so the point Albermarle was making was that you can hold Vanguard and HSBC funds within the same ISA, not that you'd use multiple ISAs to hold them.

The OP is not using new money to fund the S&S Isa's ( transferring from a cash ISA), Is he still restricted to only opening one new S&S ISA in a tax year ? In any case he only needs one really .

Oops, I hadn't gone back to the start of the thread and forgot that it was old money, so that can be paid into multiple S&S ISAs, although there's still no obvious reason to do so....

RyanHello

Sorry I did mean to say only one Stocks and Share ISA can be opened a year. I was just comparing Vanguard to HSBC.
With a stocks and share ISA you can invest up to £20000 a year tax free. There's a lot of ready made cautious portfolios to invest in. 

Swipe

Good luck opening an HSBC ISA investment account with an existing cash ISA transfer and not depositing an initial amount. It wouldn't allow me. After some phone calls I gave up and transferred to a different provider.