S&S ISAs - paying fees

tigerspill

Hi,
I am just wondering how people manage their fees in their S&S ISAs.
To date, I have kept a bit in cash, and topped this up when necessary.  But doing this across ISAs on multiple platforms seems a real pain.
Is there any downside to holding the full ISA in funds and letting the platform sell as necessary each month to pay the fees?  Maybe this is the norm for others?
Thanks

eskbanker

Impractical to generalise as they won't all handle cash shortfalls in identical ways - some allow fees to be taken from non-ISA general accounts, while some may charge for enforced sales.  Holding inc units rather than acc ones is a potential source of cash that can ease an admin burden, but best check the Ts & Cs for each of your platforms and decide which is the best approach for each....

dunstonh

But doing this across ISAs on multiple platforms seems a real pain.

Don't have multiple platforms then.  Its rarely needed to spread around if you are using a highly capitalised platform that is profitable and isn't heavy in illiquid assets.

Is there any downside to holding the full ISA in funds and letting the platform sell as necessary each month to pay the fees?  Maybe this is the norm for others?

Have a cash float of around 1-2% within the ISA.  Or the GIA or cash account if the option to do it externally exists.

If a platform doesn't do something the way you want then change platform

Alexland

tigerspill said:
I am just wondering how people manage their fees in their S&S ISAs.

Our S&S ISAs are with iWeb who have no ongoing fees

Chickereeeee

With my accounts at AJ Bell, they just deduct it from dividend income: they seem happy to wait for the next divi if there is no spare cash in the account when due.

For iWeb: as above, no ongoing charges.

Alexland

Bit risky not having enough cash with AJ Bell as they have a disinvestment charge for if they decide to sell holdings to pay fees.

whatstheplan

I'm just starting out on my investment journey (currently with Vanguard) and I've elected to have fees deducted from a designated bank account via direct debit.

jimjames

Alexland said:

tigerspill said:
I am just wondering how people manage their fees in their S&S ISAs.

Our S&S ISAs are with iWeb who have no ongoing fees

Same here, I was struggling to understand the question initially

DireEmblem

I would think if possible, you want the fees charged or paid for 'outside' the ISA.

colsten

tigerspill said:

Hi,
I am just wondering how people manage their fees in their S&S ISAs.
To date, I have kept a bit in cash, and topped this up when necessary.  But doing this across ISAs on multiple platforms seems a real pain.

Why do you have several ISAs?

Alexland said:

tigerspill said:
I am just wondering how people manage their fees in their S&S ISAs.

Our S&S ISAs are with iWeb who have no ongoing fees

Same for me

Costabit

Depending on your platform process etc but as I like to have the maximum of £20K invested , it makes sense for me to pay the charges from outside of the ISA