Junior S&S ISA 4 December 2021 at 11:20AM in ISAs & tax-free savings 20 replies 354 views

ispookie666

I recently transferred my daughters cash ISA into her ongoing HL S&S ISA.  Whilst HL is good, it is a right pain to change monthly subscription for regular investing for Junior ISA and not enjoying the 0.45% fees. The only option is to keep adding extra funds, unlike the normal S&S ISA.   I have mainly invested in Index Tracking funds - Fidelity FTSE, iShares Pacific and L&G US Index as regular investing.  

Any other options for Junior ISA which will allow monthly changes in subscription for regular investing?    

Albermarle

Not sure about the monthly subscription issues, but Fidelity have zero fees on their platform for JISA's.

eskbanker

I'd have thought that all (discounted) regular investment plans would involve committing to a fixed monthly amount, but happy to be corrected?  If you're looking for something more variable, perhaps you could set a lower fixed amount and top up on an ad hoc basis as and when you wish to go above that?

HL's fees are clearly shown on their site, as are all others (by regulation) so they shouldn't be a surprise - which alternatives did you consider when choosing HL and on what basis did you eliminate the others?

cloud_dog

Albermarle said:

Not sure about the monthly subscription issues, but Fidelity have zero fees on their platform for JISA's.

Not like for like as the JISA is elsewhere (at no cost), but Fidelity are likewise a pain for changing the regular amount or investing options in the junior SIPP, all done by paperwork.  I'm unsure if this is SIPP related or relevant to the junior products.

They (obviously) allow you to make whatever as-hoc contributions/investments you wish.

I know @Alexland holds JISAs with them so tagging them to see if they can confirm.

ispookie666

@eskbanker HL has been active for good few years. I have only recently looked at other options.  
@Albermarle @cloud_dog I did look into fidelity, they do not have a platform fees.  But they do charge for each fund purchase as part of regular investment which ends up being more expensive in the long run.    

Albermarle

ispookie666 said:

@eskbanker HL has been active for good few years. I have only recently looked at other options.  
@Albermarle @cloud_dog I did look into fidelity, they do not have a platform fees.  But they do charge for each fund purchase as part of regular investment which ends up being more expensive in the long run.    

They only charge for buying 'exchange traded investments '- means shares , ETF's . IT;s
For regular OEIC funds there is no charge .

cloud_dog

ispookie666 said:

@Albermarle @cloud_dog I did look into fidelity, they do not have a platform fees.  But they do charge for each fund purchase as part of regular investment which ends up being more expensive in the long run.    

This is a common misunderstanding and one in which Fidelity really do not help themselves, e.g. it really is not obvious/clear to people reviewing for a first (or second) time.  I have previously messaged Fidelity to let them know they need to change how the represent the information.

Albermarle

cloud_dog said:

ispookie666 said:

@Albermarle @cloud_dog I did look into fidelity, they do not have a platform fees.  But they do charge for each fund purchase as part of regular investment which ends up being more expensive in the long run.    

This is a common misunderstanding and one in which Fidelity really do not help themselves, e.g. it really is not obvious/clear to people reviewing for a first (or second) time.  I have previously messaged Fidelity to let them know they need to change how the represent the information.

Yes, there should be a clear statement that there is no charge for fund purchases.

ispookie666

That is promising.  I guess Fidelity it is then!  
Any idea if HL charge exit fees from Junior ISA if you have transferred to them recently.  

masonic

HL made quite a big thing of dropping their transfer out charges. If you are in any doubt, check out the 'other charges' section: https://www.hl.co.uk/investment-services/junior-isa/savings-interest-rates-and-charges

I don't see any 'recently transferred' exceptions

MFW2026

I moved from fidelity to vanguard due to having to fill in about 30 pages if wanted to amend the fund or increase monthly automated payments. Vanguard can amend within 1 minute online and automatically changes, no completing mountains of forms and sending in post.