Which platform for invest and forget ISA.

Lesser_spotted_Catshark

Hi,

I have £40k between myself and my wife to invest for around 10 years from a DB pension lump sum. I'm looking to put it into a S&S ISA's in each of our names. I'm looking for an invest and forget fund such as a Vanguard LS but I've read loads on here that VLS is expensive for fees (although vastly cheaper than the ISA that Wealth at Work wanted to sell me - no thanks). The advertised ongoing charge is 0.22% plus transaction costs which seems quite reasonable to me.

1. What other similar funds are available and how do I find them? I've seen HSBC Global Strategy Balanced being well mentioned.
2. What is the best/cheapest platform to use to hold whichever fund I go for.

Thanks
Roy.

DiamondLil

For platforms / brokers, have a look here:

https://monevator.com/compare-uk-cheapest-online-brokers/

Lesser_spotted_Catshark

DiamondLil said:

For platforms / brokers, have a look here:

<Link removed>

Thanks for the link, lots of other good articles on there. 

If I'm reading it correctly it would be cheaper to open a (currently free) iWeb account and buy into the vanguard LS fund rather than buying through Vanguard as I would avoid the 0.15% platform fee, I'd just have to pay the £5 purchase fee.

ColdIron

Yes, 2 x £5 per year will beat 0.15%

Alexland

For 10 years my choice would be VLS60 or HSBC GS Balanced as global equities have had a good run recently and bond valuations are looking reasonable again so from where we are now it's hard to judge which asset type will do better over your holding period. Might still drop around 25% in a bad market crash.

If you will not be drawing income remember to buy the Accumulation version of the fund to avoid needing to regularly pay iWeb trades to reinvest distributions (dividends) - more efficient for the fund manager to do this.

Lesser_spotted_Catshark

Thanks for the help, I'm fully aware that investments can go down. I have no event that will mean I need the money in 10 years time, just that I know I won't need it in that time span so I can choose to leave it longer if I need to ride out a downturn. If it performs well I'll look to move it into a lower risk investment at around 10 years time.
I do have short term savings 1-5 years in cash and medium term 5-9 years in a DC pension in low risk. To be honest at 58 and retired I have more money than I ever thought possible and will be able to live comfortably.

Alexland

Lesser_spotted_Catshark said:

To be honest at 58 and retired I have more money than I ever thought possible and will be able to live comfortably.

Nice, so it's really about making sure you are in a good position to defend against the damaging effects of compound inflation over such a hopefully long and happy retirement.

Albermarle

but I've read loads on here that VLS is expensive for fees (although vastly cheaper than the ISA that Wealth at Work wanted to sell me - no thanks). The advertised ongoing charge is 0.22% plus transaction costs which seems quite reasonable to me.

I think you might have misunderstood some of the things you read.

0.22% is quite reasonable for a low cost multi asset fund. You can get cheaper but not by much . The HSBC range mentioned in a previous post is 0.2% ( although has performed a bit better in recent times)

If you have the inclination, you could buy separate passive global equity and bond indexes and rebalance them from time to time and maybe save another 0.1% ? Not many will do that though.