Evestor, Nutmeg or Wealthify S&S ISA

dunstonh

An ISA because that's what I read about the best way of starting out with stocks & shares. e.g. 
"Investing in an ISA should ALWAYS be your first port of call"
www.moneysavingexpert.com/savings/stocks-shares-isas/#doitforme

That is incorrect.     However, I couldn't find that quote on that link.

S&S ISAs are a tax wrapper.   The UK has about 13 tax wrappers.    ISA is certainly one of the most popular but it is not the best option in every scenario.   As mentioned, the pension tax wrapper is more effective than S&S ISAs when saving for retirement.   And Lifetime ISAs can be better than S&S ISAs and sometimes pension.

In respect of the robos, most of them have not been around a long time and are loss making.  Some appear to be set up to try and generate some scale (rather than profit) in the hope that a white knight or big name will buy them out to move those people onto their own proposition.    They are a great option for small amounts.  Although some are more expensive than full advice arranged options.     Going with a platform and picking a low cost multi-asset fund would be cheaper in most cases.

moi

Thank you each of you for all the information.

Sorry, my link for the ISA advice should've been this page: https://www.moneysavingexpert.com/savings/investment-beginners/

To be honest, the ISA reason I was focussing on a S&S ISA is because I was just understanding it to be a simpler way to start out, not because the tax aspect is crucial. Also because there were preselected choices. With savings rates so low (I currently have cash in various 0.6-1.1% accounts), my taxable income won't even reach the starting 20% tax band.

I do take the points about risk, or volatility (helpful phrase!), over the longer term, so maybe I'll start with a few thousand sum in a vanguardinvestor.co.uk robo at medium risk, just to get a feel of how they work... and in time look at other things you all mention where I have to make more choices.  

Alexland

Yes investing a few grand into something like Vanguard LifeStrategy 60 should give you a feel for how this all works while you do more research and decide what asset allocation, tax wrappers, funds and platforms you want to use for any other money you want to invest.

R_P_W

How old are you ?  What is your intention for the investment?  What timeframe are you looking to invest over? 5, 10, 15, 20 years plus?  What are your expectations on a return? 

A S&S ISA is just the wrapper, you can generally invest in the same funds as you can in a GIA or a pension.

granta

dunstonh said:

S&S ISAs are a tax wrapper.   The UK has about 13 tax wrappers.    ISA is certainly one of the most popular but it is not the best option in every scenario.   As mentioned, the pension tax wrapper is more effective than S&S ISAs when saving for retirement.   And Lifetime ISAs can be better than S&S ISAs and sometimes pension.

Re: tax wrappers, I can only think of: ISA, LISA, pension.
What are the 10 I've missed? 

eskbanker

granta said:

dunstonh said:

S&S ISAs are a tax wrapper.   The UK has about 13 tax wrappers.    ISA is certainly one of the most popular but it is not the best option in every scenario.   As mentioned, the pension tax wrapper is more effective than S&S ISAs when saving for retirement.   And Lifetime ISAs can be better than S&S ISAs and sometimes pension.

Re: tax wrappers, I can only think of: ISA, LISA, pension.
What are the 10 I've missed? 

Not sure what granularity is being used, but it doesn't make sense to me to single out LISAs in particular - either ISA is one generic wrapper or it's four/five specific ones (cash, S&S, IFISA, LISA, [Junior])....

moi

Alexland said:

Yes investing a few grand into something like Vanguard LifeStrategy 60 should give you a feel for how this all works while you do more research and decide what asset allocation, tax wrappers, funds and platforms you want to use for any other money you want to invest.

At this very moment a feel for the simplest of S&S options is what I want, & i appreciate all the opinions & information. I'll think about larger sums & pensions for 20+ years time in due course.

dunstonh

granta said:

dunstonh said:

S&S ISAs are a tax wrapper.   The UK has about 13 tax wrappers.    ISA is certainly one of the most popular but it is not the best option in every scenario.   As mentioned, the pension tax wrapper is more effective than S&S ISAs when saving for retirement.   And Lifetime ISAs can be better than S&S ISAs and sometimes pension.

Re: tax wrappers, I can only think of: ISA, LISA, pension.
What are the 10 I've missed? 

unwrapped (ok, not technically a wrapper)
S&S ISA
Cash ISA
Lifetime ISA
Junior ISA
Innovative Finance ISA
Help to buy ISA
Onshore Bond (Whole of Life Assurance )
Offshore Bond
Endowments (single or regular)
Industrial Branch policies
Friendly Society savings plans (TESPs)
Stakeholder pension
Personal Pension/SIPP
Executive pension plan
Section 226 RAC
Section 32 buy out bond
hybrid pensions (a catchall for all the types that used to exist before 2006 -  such as the B&CE LSRB but so many more as well.  They still exist for existing money but cant be used for new)
SSAS
EIS / SEIS
VCT

Some of the above are legacy where new money cant go into them but existing money already in them can be retained.  There are others.

MDMD

dunstonh said:

granta said:

dunstonh said:

S&S ISAs are a tax wrapper.   The UK has about 13 tax wrappers.    ISA is certainly one of the most popular but it is not the best option in every scenario.   As mentioned, the pension tax wrapper is more effective than S&S ISAs when saving for retirement.   And Lifetime ISAs can be better than S&S ISAs and sometimes pension.

Re: tax wrappers, I can only think of: ISA, LISA, pension.
What are the 10 I've missed? 

unwrapped (ok, not technically a wrapper)
S&S ISA
Cash ISA
Lifetime ISA
Junior ISA
Innovative Finance ISA
Help to buy ISA
Onshore Bond (Whole of Life Assurance )
Offshore Bond
Endowments (single or regular)
Industrial Branch policies
Friendly Society savings plans (TESPs)
Stakeholder pension
Personal Pension/SIPP
Executive pension plan
Section 226 RAC
Section 32 buy out bond
hybrid pensions (a catchall for all the types that used to exist before 2006 -  such as the B&CE LSRB but so many more as well.  They still exist for existing money but cant be used for new)
SSAS
EIS / SEIS
VCT

Some of the above are legacy where new money cant go into them but existing money already in them can be retained.  There are others.

Here’s some more (some pushing the definition of a wrapper a little)….

National Savings Index Linked Certs*
National Savings Fixed Interest certs*

Premium Bonds
SAYE
EMI
CSOP
SIP
Employee shareholder shares
rent a room 
BPR
Trading allowance
Property allowance
dividend “allowance”
Personal Savings “allowance”

even classic cars if you know what you are doing

*reinvestment only

granta

MDMD said:

dunstonh said:

granta said:

dunstonh said:

S&S ISAs are a tax wrapper.   The UK has about 13 tax wrappers.    ISA is certainly one of the most popular but it is not the best option in every scenario.   As mentioned, the pension tax wrapper is more effective than S&S ISAs when saving for retirement.   And Lifetime ISAs can be better than S&S ISAs and sometimes pension.

Re: tax wrappers, I can only think of: ISA, LISA, pension.
What are the 10 I've missed? 

unwrapped (ok, not technically a wrapper)
S&S ISA
Cash ISA
Lifetime ISA
Junior ISA
Innovative Finance ISA
Help to buy ISA
Onshore Bond (Whole of Life Assurance )
Offshore Bond
Endowments (single or regular)
Industrial Branch policies
Friendly Society savings plans (TESPs)
Stakeholder pension
Personal Pension/SIPP
Executive pension plan
Section 226 RAC
Section 32 buy out bond
hybrid pensions (a catchall for all the types that used to exist before 2006 -  such as the B&CE LSRB but so many more as well.  They still exist for existing money but cant be used for new)
SSAS
EIS / SEIS
VCT

Some of the above are legacy where new money cant go into them but existing money already in them can be retained.  There are others.

Here’s some more (some pushing the definition of a wrapper a little)….

National Savings Index Linked Certs*
National Savings Fixed Interest certs*

Premium Bonds
SAYE
EMI
CSOP
SIP
Employee shareholder shares
rent a room 
BPR
Trading allowance
Property allowance
dividend “allowance”
Personal Savings “allowance”

even classic cars if you know what you are doing

*reinvestment only

Thanks both! There is no limit to my financial education on the this Forum.