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How to pick a S&S LISA for a beginner
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Remember lots of these new platforms like Nutmeg or Wealthify this and that are running at a loss to attract new business. Whether they will be around in 5 or 10 years is a different matter. Bigger concerns like HL and time served platforms like AJ Bell are well established and arguably more financially secure.2
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Just keep in mind once you are over 40 you cant transfer a LISA..... I have just found out the hard way. I took out a LISA a few days before my 40th then thought I could change latter on..... you cant! you can only transfer LISA's under the age of 40.0
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Just to be clear, the scheme rules themselves do permit LISAs to be transferred to new providers once you're beyond 40, but most providers don't offer this facility for one reason or another, so it is theoretically allowed, but that's obviously not much consolation if unable to find a provider who'll assist!tryingtogetmyheadaround said:Just keep in mind once you are over 40 you cant transfer a LISA..... I have just found out the hard way. I took out a LISA a few days before my 40th then thought I could change latter on..... you cant! you can only transfer LISA's under the age of 40.0
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