Simple S&S ISA

[TofuTuesday]

Hi / does anyone use Wealthify? I have a stocks and shares isa with a high street bank and it’s an off the peg one but I’ve had so many hassles with my direct debit being cancelled etc I want to change.
i want one that is off the peg.
Santander for example was too complex for me to understand.

Try Vanguard or AJ Bell. Both pretty easy to set up I think.

Interesting. I've been with wealthify for years and it has been hassel free with good returns.

AJBell Dodl is their lower cost option with a smaller choice of funds. If you hold funds in your current ISA and want to transfer in specie then it may not be right for you if they don't offer the same fund(s). If you don't mind selling, transferring in cash and then reinvesting in a different fund then would recommend them.

What does ‘in specie’ mean? I just want to transfer my current one and then pay a regular amount in for the next 15 years

It means transferring without selling them.

Ah ok thank you. I think I just want one where it is like a savings account, maybe wealthify would be better.

If you want to transfer it you would need to sell the current holdings, transfer the cash, invest in the new ISA. If you want to transfer without selling your new ISA manager needs to offer the same funds and you can transfer the funds without selling aka in specie transfer. This means you keep invested in the stock market.

The fees on Dodl will be less than Wealthify unless you only have a very small amount invested and there are managed funds available to suit various risk profiles.

Thank you, I think I’ve figured it out now!

I get better returns from Vanguard Global all equities, than with Wealthify.

I still have a nominal sum in Wealthify, so I can see.

When you set up a new one request to transfer over your old one through your new ISA provider. If you withdraw the money and move it yourself it will count as this year’s ISA allowance.

I ended up cashing it, it was impossible to find the Lloyds readymade isa on the site and none of the addresses matched. It wasn’t a huge sum so I’m going to start again.