archiesdad
Midfield
My Mrs works for BT and did exactly this.
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Stocks n Shares ISA
- Thread starter Fletch
- Start date
Alchemist
Full Back
Dirty bassas
Harbour Boy
Winger
For a SIPP are these fees decent or could I get better elsewhere?
Platform Fee £11.33 (0.12%)
Fund Fee
£10.39 (0.11%)
Service fee£56.67 (0.60%)
Total annual fee £78.39 (0.83%)
Plan breakdown:
Fidelity Index World Fund 68%
abrdn Global Corporate Bond ScreenedTracker 16%
L&G Global Emerging Markets Index
Fund 12%
Ishares UP to 10 Years Gilts IndexFund UK 4%
Platform Fee £11.33 (0.12%)
Fund Fee
£10.39 (0.11%)
Service fee£56.67 (0.60%)
Total annual fee £78.39 (0.83%)
Plan breakdown:
Fidelity Index World Fund 68%
abrdn Global Corporate Bond ScreenedTracker 16%
L&G Global Emerging Markets Index
Fund 12%
Ishares UP to 10 Years Gilts IndexFund UK 4%
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If it was me, I'd transfer it into a passive global index tracker.
Global index trackers mirror a specific market, which might be for example the 500 leading companies in the US (S&P 500), the 100 leading companies listed in the UK (FTSE 100) etc. They are 'passive', rather than 'active'. This means that there isn't someone at the top making specific calls on buying and selling etc., it just tries to mirror the leading companies and their growth. There are arguments for and against passive vs. active but I'd say that passive is the 'safer' option and definitely cheaper than active, especially when starting out. I've got money in both alongside other different funds.
The good thing about an index is that it naturally gives you access to a wide range of companies and areas. You say you've invested in some sort of renewables fund - an index would probably give you access to this, as well as oil, financial services, tech, healthcare etc. Really if you just paid into a global passive tracker and nothing else for the rest of your life you'd probably do pretty well. For the average and typical investor it's enough and provides relatively little risk providing you're sensible and not taking it out within 3-5 years.
Some options to look for: Vanguard FTSE Global All Cap Index, Fidelity Index World Fund, Vanguard LifeStrategy Funds (the latter gives you scope to choose your risk appetite).
42
Striker
Those fees are on the high side
Trading212 & invest engine are fee free (apart from fund fee). Vanguard has platform fee of 0.15% (but £48 pa min & £375 pa max cap), then platform fees typically 0.2%
Edinburgh Black Cat
Striker
It's for a SIPP though, they look good to me @Harbour Boy.
Trading 212 doesn't have a SIPP yet. Vanguard is fine if you're just wanting their funds, not stocks or other providers. I wouldn't touch invest engine for a SIPP - they're a bit tinpot.
I pay £12.99 per month with II.
Ultimately depends what you plan to put in it and what size your portfolio is (flat fee Vs %).
Edit: To be clear, Vanguard is a decent cheap and secure option if their products suit you.
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Batdad
Striker
Probably already been mentioned but if you don't need to use the money for a good few years then you should be using the stocks and shares LISA to get the governments 25% top up.
You have to be under 40 to start it and can't cash in until you're 60 (or rather, you can, but there re penalties).
Just opened mine with Dodl which has low fees and an app which is straightforward to use. The best fund for "set and forget" is probably HSBC FTSE All-World Index which Dodl call On Top of the World.
You have to be under 40 to start it and can't cash in until you're 60 (or rather, you can, but there re penalties).
Just opened mine with Dodl which has low fees and an app which is straightforward to use. The best fund for "set and forget" is probably HSBC FTSE All-World Index which Dodl call On Top of the World.
burro nunn
Winger
The big but is it's classed as savings if you ever need to claim benefits in the future. So could be forced to withdraw early and pay the penalty.
But it's worth more than a SIPP for basic rate payers as it's tax free when withdrawing, as long as it's still there at 60.
I put £100 a month in a LISA on top of work pension so hopefully have a nice little pot at 60.
Select coaches
Striker
ii fees are now £5.99 if you have < £100k ££14.99 > £100k, decent value and if you can get someone to recommend you I think it’s free for a year, plus they get a kickback as well.
junglist31
Midfield
Are sipps only good for self employed dudes?
Darlo1973
Striker
Nope anyone can set one up in addition to their workplace pension if you have extra money you can put away. They can also be useful for transferring old company pensions into so that you don't end up in your 60s with a dozen difference schemes
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Edinburgh Black Cat
Striker
Not necessarily. They allow you to invest in things that your workplace scheme may not allow - e.g. different funds or individual stocks.
Or as Darlo says, consolidate policies. Watch out with that one though, some older policies may allow you to access funds earlier than new ones.
Sunderland Brand
Full Back
I have been putting money into a HL stocks and shares account for my grandchildren since they were born. Now 11 and 8 years old. Have made a pretty penny - far more than a cash Isa. Policies will mature when they are 18 so plenty of time for further growth.
Darlo1973
Striker
Let's just hope that they don't blow the money on a big holiday or flash car.
I'm managing a trust fund for my nephew and niece and I dread to think what they might do with the money when they turn 18.
FishburnMackem
Winger
Up 12% in total this week. Added GreatLand Resources to my portfolio a few weeks back on the advice of someone on this thread - thanks very much!
1more
Striker
That's a worry.
I've sorted a junior SIPP for my younger daughter through AJ Bell. Just want to get her ahead of the curve and get the magic of compound interest going
Darlo1973
Striker
Yes, Junior SIPPs are are a great idea for kids even if you put some money in at the start and then never touch it again. 50+ years of compound interest and they can't access it when they turn 18.
Barista
Midfield
We did a junior ISA for my daughter, but the thought of tying up money for 60-70 yrs in a junior SIPP did not appeal. She needs the money now when she is in her 20s not in her 60s/70s.
Yes, she could blow the money in her 20s, but trying to plan ahead until the end of this century with all the continuous changes to pension legislation is not something I would rely on.
Select coaches
Striker
Was a big worry for me, shouldn’t have worried, both used the money for uni. If I’d known I’d have put more in.
