Multiple stocks and shares ISA's?

dellboy102

Hi All

I have a stocks and shares ISA account with iWeb and am looking to open one with interactive investor.

I''ve done several trades with iWeb this year but i'm pretty sure i've not put transferred any cash into the account, also when I login it states "Left to subscribe in this tax year: £ 20,000.00", am I correct in thinking I can open a additional stocks and shares ISA with interactive investor without issues as it says 20k left to subscribe this tax year in iWeb?

As iWeb has no annual charges i'm thinking of leaving it open with some of my fund holdings.

Thanks

pip895

You can open a second ISA - Why do you want to?

dellboy102

pip895 said:

You can open a second ISA - Why do you want to?

iWeb is already open and I have a few funds in there, theres no annual charges or ongoing charges (just flat dealing fees), want to try interactive investor as they have a few funds I want to invest in that iWeb do not have , if I can keep iWeb open too that will be a cheaper platform for me to use when they do have the funds I need.

Alexland

dellboy102 said:

iWeb is already open and I have a few funds in there, theres no annual charges or ongoing charges (just flat dealing fees), want to try interactive investor as they have a few funds I want to invest in that iWeb do not have , if I can keep iWeb open too that will be a cheaper platform for me to use when they do have the funds I need.

They had better be good funds to pay £120 pa in platforms fees - eek! Have you tried asking iWeb to add the funds? If it's just for current tax year contributions would it be better to go with a platform with percentage charges?

dellboy102

Alexland said:

dellboy102 said:

iWeb is already open and I have a few funds in there, theres no annual charges or ongoing charges (just flat dealing fees), want to try interactive investor as they have a few funds I want to invest in that iWeb do not have , if I can keep iWeb open too that will be a cheaper platform for me to use when they do have the funds I need.

They had better be good funds to pay £120 pa in platforms fees - eek! Have you tried asking iWeb to add the funds? If it's just for current tax year contributions would it be better to go with a platform with percentage charges?

Yep i've tried that but they said they cannot, I used snowmans spreadsheet and interactive comes out cheapest if I move everything over, I'll do some recalcs based on just part of the portfolio being moved..

Alexland

dellboy102 said:

Yep i've tried that but they said they cannot, I used snowmans spreadsheet and interactive comes out cheapest if I move everything over, I'll do some recalcs based on just part of the portfolio being moved..

It's unlikely to be the cheapest on just current tax year contributions for example Fidelity at 0.35% of £20k would be £70 and give you lots of fund choices or AJ Bell at 0.25% and £1.50 per trade. Is it costing you anything to leave the old contributions with iWeb i.e £5 trade fees to rebalance the portfolio?

I'm generally of the view that if iWeb won't add it then I can probably do without it.