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Suggestions for Stocks and Shares ISA

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Hi,
For a variety of reasons we have too much of our savings in cash, and also haven't yet used our 2022/23 ISA allowances.  So I'm considering opening a S/S ISA, transferring in my existing cash ISA and adding this year's allowance.

I am not familiar with the providers.  I am aware of Hargreaves Lansdown, and Redmayne Bentley but just because I have had dealings with them on other matters.

So any suggestions welcome.  Would look for one that has a chance of performing, and has easy account management.

Thanks,

Comments

  • Albermarle
    Albermarle Posts: 28,058 Forumite
    10,000 Posts Seventh Anniversary Name Dropper
    Would look for one that has a chance of performing,

    A S&S ISA does not perform, it is the investments that you pick to sit within the ISA that perform.

    The same investment with two different ISA providers, will perform exactly the same.

    Hargreaves Lansdown are well known. Good service, good website, but relatively high platform fee ( this is for running the S&S ISA, but for the investments which have their own fee. They also have a huge range of investments, as do providers like Fidelity, A J Bell etc . I have never heard of Redmayne Bentley. A quick look at their website shows you can not invest in OEIC funds with them, which is by far the most popular way of investing. They do offer ETF's but with an undisclosed stockbroker charge .

    Vanguard have a low platform fee, but  only offer their own investments

    Robo providers, have a limited range of investments and will guide you towards one of them. The platform fees are a bit higher though.  Here is an MSE review of providers. Stocks & shares ISAs: find the best platform - MSE (moneysavingexpert.com)

    If you are investing for your retirement, then a pension is usually better due to the tax relief.

  • Qyburn
    Qyburn Posts: 3,638 Forumite
    Fifth Anniversary 1,000 Posts Name Dropper
    Thanks. I know of Redmayne Bentley because they hold an investment account for a charitable trust that a family member is involved with. They are offering an S&S ISA on a "Discretionary Investment Management Service".

    I'll look through the MSE page as suggested.

    The aim here is for investment during retirement, I already have separate plans to max out tax relief for personal pension in this tax year.
  • Albermarle
    Albermarle Posts: 28,058 Forumite
    10,000 Posts Seventh Anniversary Name Dropper
    They are offering an S&S ISA on a "Discretionary Investment Management Service".

    That means on top of the normal fees, you will be paying for someone managing your ISA. So most likely total fees will be well North of 1 % , which would be a drag on your earnings.

    In any case if you have a separate pension, then it would make sense  to coordinate the investments in both pension and ISA., especially as they will both be used for retirement purposes. So you should either manage both yourself, or have both managed by a financial advisor. Although Redmaybe Bentley look a bit Top Dollar, and you would probably be better off seeking the help of a local IFA, if that is the route you wanted to go down. 

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