Regular Investing via Interactive Investor
rathernot
Posts: 339 Forumite
I've an account with Interactive Investor that I'll be using for my 2018/19 ISA and a GIA.
Is there anything I need to know about their regular investment option please?
It looks simple enough, choose the funds you want and the amount and sit back and they'll take the money and make the investment for you.
That easy?
Is there anything I need to know about their regular investment option please?
It looks simple enough, choose the funds you want and the amount and sit back and they'll take the money and make the investment for you.
That easy?
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Comments
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Yes, it is that easy, I have been using that functionality for years and it has worked well for me.I've an account with Interactive Investor that I'll be using for my 2018/19 ISA and a GIA.
Is there anything I need to know about their regular investment option please?
It looks simple enough, choose the funds you want and the amount and sit back and they'll take the money and make the investment for you.
That easy?
I've only ever had one issue and that was resolved reasonably quickly, with enough prompting from me, but other people have had more issues, as mentioned elsewhere.
The cost is low and, from others' experience, the customer service can be intermittent,Save £12k in 2023 #17: £19,085/£24,000 (79%)
Save £12k in 2022 #5: £18,007/£18,000 (100%)
Save £12k in 2021 #17: £18,012/£18,000 (100%)
Save £12k in 2020 #25: £15,522/£15,000 (103%)
Save £12k in 2019 #112: £10,963/£10,500 (104%)0 -
Yes, they do!Other platforms do monthly investment options.
I use II (was TD originally), HL and Youinvest.
II and Youinvest are great. You can separate the regular payment, change it whenever you want and you can set the amount to be collected to zero. The amount to be invested can be totally separate from the amount to be collected so that dividends received can be invested other than the investment they were paid but still use the low cost regular investment.
HL dont do this so far as I can see. The amount collected is the same as the amount invested which can be held in cash.
I find II fine - it is the TD platform which I was always happy with but the moving of existing accounts from the old II platform to the TD platform has clearly given them "issues"!
I did Bed & ISAs in both HL and II this morning, it will be interesting to see how they both handle them! TD did it fine last year.0 -
Thank you all. I already have an II account and for the quantity of money and volume of purchases they appear a no-brainer option based on fees.
I'm not very demanding so would hope there's not too much that can go wrong
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I tried regular investing when II was TD, the only issue I had was they couldn't provide a dividend reinvestment option, but since it was regular investment divis just got used up on the regular investment date. So it's not really an issue.
Anyway many years on I just do a lump sum investment on 6th April of £20k, and leave it - buy and hold is my strategy, and it's working nicely.
I've moved i iWeb now, bit left my old portfolio with ii because reinvesting at a £1 a pop suits me, uses up the credit I accumulate each quarter .
You'll find as your portfolio grows, start buying ever larger amounts of equities. It's pointless buying an equity if it only makes up a small %ge of your total portfolio, so inh my case I don't trade in any sums less than £10k.
In a couple of years I guess I'll be using my entire ISA allowance on just a single equity.
The main thing that reduces your returns is trading - don't do it unless you really have to.
The next thing that will affect your long term returns is fees and charges, keep these as low as you can.
It's boring not trading but that's the way it goes - boredom is good.0 -
Investing monthly with II, nice and cheap no problems.0
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greenglide wrote: »I did Bed & ISAs in both HL and II this morning, it will be interesting to see how they both handle them!
ok, i'm a bit intrigued by this. i'm sure you know you can only subscribe new money to 1 S&S ISA in the same tax year. so how do you do 2 bed-and-ISAs, with different providers, in the same tax year?0 -
You ensure you have free cash in at least one of the ISAs before you sell the unwrapped shares outside the ISAs and buy them back within those ISAs.grey_gym_sock wrote: »ok, i'm a bit intrigued by this. i'm sure you know you can only subscribe new money to 1 S&S ISA in the same tax year. so how do you do 2 bed-and-ISAs, with different providers, in the same tax year?
For one of the ISAs, the funding can come from the cash proceeds of sale of the unwrapped shares, contributed as a subscription of new money within your 2018/19 allowance that you got today. For the other, as you can't put new money into it during 2018/19 due to feeding the first one instead, you will have to already have the funding available inside the ISA (perhaps by putting cash into the LISA earlier this week to use up some of your 2017/18 ISA allowance, or perhaps sitting around from other disposals).
Bed and ISA is just the term for disposing of shares and - around the same time - buying the same type of shares inside an ISA wrapper where they would not get matched to the disposals for CGT because the tax man can't see those purchases. It doesn't necessarily mean the proceeds of the share sales get subscribed into the ISAs involved; you might already have plans for the money outside the ISA and be making the purchases with spare ISA cash. Such as proceeds from maturing cash ISAs, or just idle previously-unspent cash that has been sitting around in the S&S ISA wrapper ready to buy these particular shares once you have sold your unwrapped holding of them.0 -
yes, i could think of various scenarios in which it's possible to do 2 bed-and-ISAs. i was more wondering what situation greenglide has that makes it them want to do it.0
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Husband and wifegrey_gym_sock wrote: »yes, i could think of various scenarios in which it's possible to do 2 bed-and-ISAs. i was more wondering what situation greenglide has that makes it them want to do it.0
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