Looking for a do-it-for-me or off-the-shelf S&S LISA

SMcGill

My mother wants to open one for my daughter with £4k this year and ad hoc contributions in future years. I’ve started looking into this but hoped to shortcut the process by asking here if anyone can recommend a provider? My daughter isn’t up for managing her own investments and from what I’ve found so far this limits her choice of providers.

cloud_dog

No matter who your daughter goes with she will need to make investment decisions.  Even with the robo-type platforms you need to consider and select your risk tolerance, in order for them to suggest an investment.  If you can do that then there isn't really a huge leap to actually selecting a fund (other than it all possibly being an unknown to you/your daughter). 

I would suggest Dodl (AJ Bell's new platform) as one of the cheapest S&S LISA providers (assuming more than £5k).  The platform is aimed at trying to make choices simple, although you are still making the choices and it is not like using a robo-platform. Have a look and see what you / your daughter thinks.

The only reason I am not in favour of the robo-platforms is simply about cost, but if they offer what you need then they will be the platform to choose.

Albermarle

If it a LISA for long term retirement income ( not available until 60) then you should not be too cautious when picking the investment(s). Over the long term it is better to go for higher risk solutions, as long as it is a mainstream investment and not Bitcoin or similar.
If it is for a potential first time house purchase, then it depends to a large extent, what sort of timescale is involved .

eskbanker

SMcGill said:

My mother wants to open one for my daughter

LISAs are adult products, so, assuming she has mental capacity, your daughter would need to open one herself.

SMcGill

LISAs are adult products, so, assuming she has mental capacity, your daughter would need to open one herself.

I understand what you mean by that, but the way I first read it made me laugh out loud. She’s 32 and quite capable of doing this herself but she knows I’ll enjoy it more

Thanks for the comments and suggestions, I hadn’t come across the Dodl offering but I’d already found the AJ Bell funds and agree about not being too cautious