S&S ISA Beginner Questions!

Haveaheart

AlanP_2 said:

Haveaheart said:

Thanks all - perhaps should have come here first, had read so much and couldn’t make a lot of sense of what these ‘funds’ and various options were, so went ahead and jumped in, and subsequently put the £500 in to see how it all worked... 

I am also looking at a pensions scheme (yes I am a director) but wanted a few variety of options.

Looks like back to the drawing board abs some more reading into some of these recommendations.

best just to leave the £500 invested were it is, or take this out?

I’m not sure I’m able to open another S&S ISA now this year am I? So best to look at the HL options mentioned above?

Leave it in there, it will cost another £12 to sell it.

You can't contribute to a different S&S ISA in this tax year so stick with HL if you want to add to the ISA.

one last point regarding the HSBC ETF i have the £500 in, If I want to re-invest the dividends (i'm sure which will be tiny), will I also have to pay the £12 fee for this or will it just add them in?

Alexland

Haveaheart said:

one last point regarding the HSBC ETF i have the £500 in, If I want to re-invest the dividends (i'm sure which will be tiny), will I also have to pay the £12 fee for this or will it just add them in?

If you keep the ETF and stay with HL you would be better reinvesting the dividends in a fund for which there would be no trade fee. Or just let them accumulate in the cash balance to help towards paying the expensive platform fees.

moneysaver1978

A bit late to this but is it worth transferring to a robo-based platform like Wealthify, Nutmug, or similar?

Alexland

moneysaver1978 said:

A bit late to this but is it worth transferring to a robo-based platform like Wealthify, Nutmug, or similar?

Not really when you can get a similar asset allocation on Vanguard Investor for lower ongoing charges.