Suggestions come April 5th

Hi Guys, just after some recommendations or perhaps just an opinion on what I plan to do with my current ISA set up. Feel a little anxious posting this so please don't tear me apart.

I currently have a fixed rate (5%) Skipton Cash ISA which matures in August.

I also have a Coutts S&S ISA (Adventurous High Risk Fund) which I only opened about a year ago when I was far less 'savvy' or just generally educated on investing I suppose, so I understand I'm not getting value for money with the on going charge (0.40%). The minimum suggested investment horizon (obviously) is 5 years however it is up over 8% since opening. I'm not adverse to moving the money but it is performing very well. I'm sure there is a similar 'like for like' investment option out there and I suppose that is the whole point of this post.

I have used my current ISA allowance. 

So here's what I think I'm going to do, but please share recommendations/opinions/advise.

I've recently opened a Dodl LISA which come April I plan to put the full 4K allowance into (I'm 37). I plan on putting it into their 'On Top Of The World' themed investment which I'm pretty sure is just the HSBC FTSE All-World Index Fund (?) the on going charge is 0.13%. 

I have also opened a Dodl S&S ISA and plan to invest the remaining 16K allowance into the same themed fund as above. Once the Skipton ISA matures I was planning on transferring it all* to this ISA.

*I am considering only transferring 75% of what is in my Skipton Cash ISA because that would only leave me with S&S investments. While I am not averse to risk, nor do I need the money anytime soon, is it daft not to have a 'safe' investment in a fixed cash ISA? I understand a long horizon S&S investment isn't necessarily unsafe but I'm just thinking about diversity. And again, the whole point of this post if you will.

Other finance info...

I have a very good work place pension, which I made a thread on that about a month ago, just posted an update in there too actually. I also have a SIPP.

I have a, what I consider a decent emergency fund sat in a Chip account currently at 4.74% gross. I also have a NatWest Fixed Term Savings Account 4.10% gross which matures in June. Literally typing this now I'm thinking why is that money locked in there over the Chip account...

Obviously I want to maximise opportunity and minimise cost but at the same time I'm not immensely bothered about chasing that extra 0.1% saving for the sake of ease and convenience. 

I appreciate this is a big post, much longer than I originally intended but I hope there's enough info there for some constructive suggestions.

Comments

  • RacingDriver
    RacingDriver Posts: 392 Forumite
    First Anniversary Name Dropper First Post
    jay_ftw said:
    is it daft not to have a 'safe' investment in a fixed cash ISA?
    Your cash savings in Chip and NatWest are your safe savings.  They don't have to be in an ISA.

    If you are within your PSA then you should just go for the highest interest rates whether ISA or non-ISA.
  • Albermarle
    Albermarle Posts: 22,081 Forumite
    First Anniversary First Post Name Dropper
    jay_ftw said:
    Hi Guys, just after some recommendations or perhaps just an opinion on what I plan to do with my current ISA set up. Feel a little anxious posting this so please don't tear me apart.

    I currently have a fixed rate (5%) Skipton Cash ISA which matures in August.

    I also have a Coutts S&S ISA (Adventurous High Risk Fund) which I only opened about a year ago when I was far less 'savvy' or just generally educated on investing I suppose, so I understand I'm not getting value for money with the on going charge (0.40%). The minimum suggested investment horizon (obviously) is 5 years however it is up over 8% since opening. I'm not adverse to moving the money but it is performing very well. I'm sure there is a similar 'like for like' investment option out there and I suppose that is the whole point of this post.

    I have used my current ISA allowance. 

    So here's what I think I'm going to do, but please share recommendations/opinions/advise.

    I've recently opened a Dodl LISA which come April I plan to put the full 4K allowance into (I'm 37). I plan on putting it into their 'On Top Of The World' themed investment which I'm pretty sure is just the HSBC FTSE All-World Index Fund (?) the on going charge is 0.13%. 

    I have also opened a Dodl S&S ISA and plan to invest the remaining 16K allowance into the same themed fund as above. Once the Skipton ISA matures I was planning on transferring it all* to this ISA.

    *I am considering only transferring 75% of what is in my Skipton Cash ISA because that would only leave me with S&S investments. While I am not averse to risk, nor do I need the money anytime soon, is it daft not to have a 'safe' investment in a fixed cash ISA? I understand a long horizon S&S investment isn't necessarily unsafe but I'm just thinking about diversity. And again, the whole point of this post if you will.

    Other finance info...

    I have a very good work place pension, which I made a thread on that about a month ago, just posted an update in there too actually. I also have a SIPP.

    I have a, what I consider a decent emergency fund sat in a Chip account currently at 4.74% gross. I also have a NatWest Fixed Term Savings Account 4.10% gross which matures in June. Literally typing this now I'm thinking why is that money locked in there over the Chip account...

    Obviously I want to maximise opportunity and minimise cost but at the same time I'm not immensely bothered about chasing that extra 0.1% saving for the sake of ease and convenience. 

    I appreciate this is a big post, much longer than I originally intended but I hope there's enough info there for some constructive suggestions.
    Nothing immediately obvious you are doing wrong.

    Coutts is a bank noteworthy for only having relatively wealthy customers, so not quite sure why your S & S ISA ended up with them ? Although 0.4% all in is not that high a charge, assuming there are no other charges on top.

    Having some cash readily available and some in a longer fixed rate also makes sense, especially as your investments are 100% equity and you have investments in your pensions as well.
  • jay_ftw
    jay_ftw Posts: 156 Forumite
    First Post Name Dropper Photogenic
    edited 26 February at 9:32PM
    jay_ftw said:
    is it daft not to have a 'safe' investment in a fixed cash ISA?
    Your cash savings in Chip and NatWest are your safe savings.  They don't have to be in an ISA.
    Good point, didn't think of it that way. In which case I will now definitely transfer 100% of the Skipton Isa over to Dodl.
  • jay_ftw
    jay_ftw Posts: 156 Forumite
    First Post Name Dropper Photogenic
    edited 26 February at 4:54PM
    If you are within your PSA then you should just go for the highest interest rates whether ISA or non-ISA.
    I'm pretty sure I'm over, but the alternative is to lock money away into my SIPP, right? Which I don't really want to do.
  • jay_ftw
    jay_ftw Posts: 156 Forumite
    First Post Name Dropper Photogenic
    jay_ftw said:
    Hi Guys, just after some recommendations or perhaps just an opinion on what I plan to do with my current ISA set up. Feel a little anxious posting this so please don't tear me apart.

    I currently have a fixed rate (5%) Skipton Cash ISA which matures in August.

    I also have a Coutts S&S ISA (Adventurous High Risk Fund) which I only opened about a year ago when I was far less 'savvy' or just generally educated on investing I suppose, so I understand I'm not getting value for money with the on going charge (0.40%). The minimum suggested investment horizon (obviously) is 5 years however it is up over 8% since opening. I'm not adverse to moving the money but it is performing very well. I'm sure there is a similar 'like for like' investment option out there and I suppose that is the whole point of this post.

    I have used my current ISA allowance. 

    So here's what I think I'm going to do, but please share recommendations/opinions/advise.

    I've recently opened a Dodl LISA which come April I plan to put the full 4K allowance into (I'm 37). I plan on putting it into their 'On Top Of The World' themed investment which I'm pretty sure is just the HSBC FTSE All-World Index Fund (?) the on going charge is 0.13%. 

    I have also opened a Dodl S&S ISA and plan to invest the remaining 16K allowance into the same themed fund as above. Once the Skipton ISA matures I was planning on transferring it all* to this ISA.

    *I am considering only transferring 75% of what is in my Skipton Cash ISA because that would only leave me with S&S investments. While I am not averse to risk, nor do I need the money anytime soon, is it daft not to have a 'safe' investment in a fixed cash ISA? I understand a long horizon S&S investment isn't necessarily unsafe but I'm just thinking about diversity. And again, the whole point of this post if you will.

    Other finance info...

    I have a very good work place pension, which I made a thread on that about a month ago, just posted an update in there too actually. I also have a SIPP.

    I have a, what I consider a decent emergency fund sat in a Chip account currently at 4.74% gross. I also have a NatWest Fixed Term Savings Account 4.10% gross which matures in June. Literally typing this now I'm thinking why is that money locked in there over the Chip account...

    Obviously I want to maximise opportunity and minimise cost but at the same time I'm not immensely bothered about chasing that extra 0.1% saving for the sake of ease and convenience. 

    I appreciate this is a big post, much longer than I originally intended but I hope there's enough info there for some constructive suggestions.
    Nothing immediately obvious you are doing wrong.

    Coutts is a bank noteworthy for only having relatively wealthy customers, so not quite sure why your S & S ISA ended up with them ? Although 0.4% all in is not that high a charge, assuming there are no other charges on top.

    Having some cash readily available and some in a longer fixed rate also makes sense, especially as your investments are 100% equity and you have investments in your pensions as well.

    That's good to hear, any critique on where I plan to move my ISAs from anyone or what I plan on investing in?

    Re:coutts my father in law recommended them and I blindly opened the ISA with them, foolishly not considering anything (charge, investment, platform...) like I said it was a while ago, well before I even knew this forum existed and I was just generally less educated around investing. If there is a like for like ETF or very small group of Indexes (?) that will mirror it's performance (https://markets.ft.com/data/funds/tearsheet/summary?s=GB00BMBWF705:GBP) at a lower cost I'm willing to move it. But you have suggested the cost isn't all that bad and like I said in my original post I'm not too bothered about chasing ultra small percentages. I know they add up over the decades but at the same time I'm still very new to investing so chopping and changing too often does seem a little daunting to me.

    I agree and as the other person replied, I suppose my 'safe investments' (are these actually referred to as investing?) are in the NW fixed and the Chip instant access.
  • jay_ftw
    jay_ftw Posts: 156 Forumite
    First Post Name Dropper Photogenic
    edited 11 March at 12:07PM
    Coming back to this after discussing some options in other threads, next month I plan on...

    Opening IWeb S&S ISA instead of Dodl, investing 16k

    Still proceed with opening Dodl LISA, invest 4k

    Come maturity in August, transfer my Skipton ISA into the IWeb S&S ISA

    Leave the Coutts S&S ISA run

    Come June transfer the Natwest Fixed Bond to Monument (5.11%). Also considering putting money from my chip into that now...

    Any feedback/critique appreciated.
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