Got cash LISA bonus, ready to move to S&S LISA

juGGaKNot

Hello.

Just got my LISA bonus for last year and I am ready to move to S&S. I'm looking at aj bell but I want to ask what would be best for me :

I have a cash LISA with moneybox, 5000 pounds.

I will deposit 4000 pounds once a year, every year.

What I want is low maintenance, lowest fees, basically transfer in, set a fund, and deposit 4000 pounds once a year.

So what provider would be best and what fund should I choose?

Cheers.

Albermarle

There is limited choice of S&S LISA providers .

A J Bell and Hargreaves Lansdown both offer a similar service and huge range of possible investments . The former's charges are a little less.

Nutmeg and Moneybox are simpler for inexperienced investors , with a more limited choice of investments , only three choices in the case of the latter . Charges are slightly higher for both .

Presumably as you are looking at a S&S LISA , you must be under 40 and looking to keep it long term . In which case a higher risk , potentially higher growth investment is usually recommended. As by keeping it long term it will have the time to ride out any shorter term ups and downs.

eskbanker

Albermarle said:

There is limited choice of S&S LISA providers

The choice is even more limited for those (such as OP) wanting to transfer in an existing LISA, basically AJ Bell if wanting to move from Moneybox:

https://forums.moneysavingexpert.com/discussion/comment/79162566/#Comment_79162566