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  • FIRST POST
    • Oasis1
    • By Oasis1 6th Aug 18, 7:56 PM
    • 421Posts
    • 408Thanks
    Oasis1
    Which platform for S&S ISA/SIPPs?
    • #1
    • 6th Aug 18, 7:56 PM
    Which platform for S&S ISA/SIPPs? 6th Aug 18 at 7:56 PM
    About me:
    • 26 years old
    • Have paid into LGPS for two years with current employer and will continue to do so
    • Want to start a private pension pot after transferring in my previous pot to LGPS
    • Has never invested before
    • Trying also to save 500/month towards a house deposit
    Looking for:
    • A S&S ISA or SIPP to drip-feed 50/month initially (leaning towards ISA so it's accessible/not at whim of government changes)
    • Access to investment tracking/trading via an app would be ideal
    • A platform that charges a percentage fee, given small investment
    Tempted by:
    • Interactive Investor
    • Cavendish Online
    My friend uses HL for their SIPP, but the costs seem very high.

    Any considerations would be appreciated before I take my first step into investing. Thanks.
    Last edited by Oasis1; 06-08-2018 at 8:41 PM.

Page 1
    • MallyGirl
    • By MallyGirl 6th Aug 18, 9:04 PM
    • 2,873 Posts
    • 7,877 Thanks
    MallyGirl
    • #2
    • 6th Aug 18, 9:04 PM
    • #2
    • 6th Aug 18, 9:04 PM
    The issue with drip feeding a small amount like this is that the transaction fee to buy shares/funds takes a disproportionately large amount of the amount. Even at 1 per reg invest transaction with interactive investor that is a 2% hit straight away. Can you either make one deposit a year or bump up the amount?
    • Drp8713
    • By Drp8713 6th Aug 18, 9:12 PM
    • 822 Posts
    • 704 Thanks
    Drp8713
    • #3
    • 6th Aug 18, 9:12 PM
    • #3
    • 6th Aug 18, 9:12 PM
    The cost of HL for small investments are not high.

    If you pay 50 a month into a S&S ISA amd buy funds, after a year you will have paid less than 2 in platform fees.
    • dunstonh
    • By dunstonh 6th Aug 18, 9:38 PM
    • 93,877 Posts
    • 61,663 Thanks
    dunstonh
    • #4
    • 6th Aug 18, 9:38 PM
    • #4
    • 6th Aug 18, 9:38 PM
    My friend uses HL for their SIPP, but the costs seem very high.
    On such small amounts, is it worth worrying about such small differences?
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • Triumph13
    • By Triumph13 7th Aug 18, 7:29 AM
    • 1,266 Posts
    • 1,594 Thanks
    Triumph13
    • #5
    • 7th Aug 18, 7:29 AM
    • #5
    • 7th Aug 18, 7:29 AM
    • Access to investment tracking/trading via an app would be ideal
    Originally posted by Oasis1
    Am I the only one for whom this sentence set the alarm bells ringing?
    • Lungboy
    • By Lungboy 7th Aug 18, 7:51 AM
    • 1,452 Posts
    • 1,427 Thanks
    Lungboy
    • #6
    • 7th Aug 18, 7:51 AM
    • #6
    • 7th Aug 18, 7:51 AM
    [*]Trying also to save 500/month towards a house deposit
    Originally posted by Oasis1
    Would a LISA make more sense at this stage,?
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