Ready Made Investments (as offered/advertised by High St banks)

NoMoneyNoWorries

I'm talking about those ready Made Investments (as  advertised by the high street banks)  aimed at people like me who don't have time or simply don't want to investigate individual bonds/stocks etc.
I now have 3 of these (one each with Lloyds, Halifax, and Barclays) - the gains are far superior to any ISA or fixed rate accounts.
However the oldest one I have is only 2 years old.

Do any of you have any of these investment accounts?
I assume if you want to take money out of them  then  some form of tax will be payable.

GeoffTF

NoMoneyNoWorries said:

I'm talking about those ready Made Investments (as  advertised by the high street banks)  aimed at people like me who don't have time or simply don't want to investigate individual bonds/stocks etc.
I now have 3 of these (one each with Lloyds, Halifax, and Barclays) - the gains are far superior to any ISA or fixed rate accounts.
However the oldest one I have is only 2 years old.

Do any of you have any of these investment accounts?
I assume if you want to take money out of them  then  some form of tax will be payable.

If they are not in a tax shelter, there will be tax to pay if you exceed your allowances.

eskbanker

NoMoneyNoWorries said:

I'm talking about those ready Made Investments (as  advertised by the high street banks)  aimed at people like me who don't have time or simply don't want to investigate individual bonds/stocks etc.
I now have 3 of these (one each with Lloyds, Halifax, and Barclays) - the gains are far superior to any ISA or fixed rate accounts.
However the oldest one I have is only 2 years old.

Do any of you have any of these investment accounts?
I assume if you want to take money out of them  then  some form of tax will be payable.

When you say 'any ISA', are you meaning 'any cash ISA'?  Clearly S&S ISAs can and do hold a wide variety of investments, and it would be shocking if a bank-managed portfolio could be guaranteed to beat all of these!

dunstonh

However the oldest one I have is only 2 years old.

And the cycle is usually around 15-25 years.  So, you have barely started and you did so after a negative year.

Do any of you have any of these investment accounts?

No.   But they are not aimed at me.

NoMoneyNoWorries

eskbanker said:

NoMoneyNoWorries said:

I'm talking about those ready Made Investments (as  advertised by the high street banks)  aimed at people like me who don't have time or simply don't want to investigate individual bonds/stocks etc.
I now have 3 of these (one each with Lloyds, Halifax, and Barclays) - the gains are far superior to any ISA or fixed rate accounts.
However the oldest one I have is only 2 years old.

Do any of you have any of these investment accounts?
I assume if you want to take money out of them  then  some form of tax will be payable.

When you say 'any ISA', are you meaning 'any cash ISA'?  Clearly S&S ISAs can and do hold a wide variety of investments, and it would be shocking if a bank-managed portfolio could be guaranteed to beat all of these!

I meant cash ISAs

masonic

I've just looked at the Lloyds one, and I'm quite surprised to see that it actually looks ok. Fund fees are very low for multi-asset at 0.1% and platform fee of £3pcm is also low if you have a sufficient sum invested (say >£20k). The adventurous option has performed more or less in line with other multi-asset funds so far, adjusting for it's slightly higher % equities. So this option has bucked the trend we normally see of investment products being offered by banks being expensive and low quality. Based on the information on the Lloyds site, the Barclays one has considerably higher fees.

You can invest in these via a S&S ISA to avoid tax implications, and I'd strongly suggest you do. Outside of an ISA, not only do you need to consider capital gains tax when you sell, but also dividends (whether or not you see this income).

QrizB

Lloyds scheme here, I think this is what we're looking at:

https://www.lloydsbank.com/investing/ways-to-invest/ready-made-investments.html