Monzo vs invest engine etc

Alexland

Have you considered how much risk you would want to take with this money? Would you be happy with an entirely stock market investment that could drop around 50% in a bad crash and take a long time to recover or would you prefer a smoother ride by holding a mix of different types of assets including fixed income bonds? Now interest rates have recovered holding a multi asset portfolio (these come as single funds) is looking attractive again but over a long enough time period you might find a 100% equities investment is still likely to do better.

Rebecca01

I think I would prefer a smoother ride. 

I am not dead against risk but a smoother ride would suit me better. 

Alexland

How about something like the Vanguard Lifestrategy fund series at 0.22% pa? IMHO the sweet spot in this series is VLS60 for balanced and VLS80 for adventurous risk levels. They have some UK bias in their equities but nowhere near as much UK as you are currently holding. You can get this fund on Dodl (owned by AJ Bell who are very established) for 0.15% platform fee (£1 pm minimum) so the same low % fee as Vanguard's platform but a £3 pm lower minimum fee. If you switched fund on the Vanguard platform you could then transfer to Dodl without time uninvested.

https://www.vanguardinvestor.co.uk/investing-explained/what-are-lifestrategy-funds

https://www.dodl.co.uk/investment-isa

Another low cost multi asset option would be the HSBC Global Strategy fund series which you can get on their own platform which is entirely percentage charges no minimum. 0.25% platform fee and around 0.2% for the fund management depending on the risk level.

https://www.hsbc.co.uk/investments/products/hsbc-global-strategy-portfolios/

Rebecca01

Thank you so much. I will have a look at these. 

Scunny_Sideup

You've got nothing to lose by trying one or more of the platforms with zero fees such as InvestEngine or Trading 212 before making a commitment. Open a Stocks and Shares ISA account in one or both of these with a trial investment of say, £100 in each and see how you get on with them before making your mind up whether to switch.  Since you're focussing on the long term I would personally be looking at investing into a single, well diversified global index fund such as the FTSE All-World rather than a more UK-centric one. 

cloud_dog

@Rebecca01 have a look at Lars Kroijer "Investing Demystified":

https://www.youtube.com/watch?v=_chiIIxMGl0

There is a book or website if you prefer a different media.  There are plenty of good, clear providers of information out there, but have found this series quite useful in helping others understand how they can focus (or refine) their investment ideas going forward.