If you are thinking of investing in an ISA for 2019/20 you should do so right now before the deadline on 5 April. Potential investors are warned that applications can take time to process so time is of the essence.
Those thinking of selecting their own funds and stock and shares for their ISA should shop around for the best deals. The tables below should help the process.
Michael Morton, publisher of analysts The Armchair Trader said: “We are approaching the end of the ISA season as a time when stock markets have been sold down to valuations we have not seen in 15-20 years, especially in the case of some leading FTSE 350 shares. Investors are still able to open an ISA now, before the deadline, and keep their cash there until they decide to enter the market. It does not mean you have to buy stocks before the end of the week.”
Morton added: “It is important that traders are aware of how transaction costs can impact your profits, especially if you plan to trade in and out of stocks frequently. The fees associated with an ISA should be an important consideration.”
Self Select ISAs – Funds
|Provider||Yearly platform fee||Min Deposit||Min/mth||Platform Fees||Funds||JISA||LISA|
|Barclays Smart Investor||£40||£50||£25||0.20%||2,000|
|Chelsea Financial Services||£120.00||£1||£10||0.55%||2,500||Yes|
|Legal & General||£122.00||£100||£20||0.61%||45||Yes|
Source: The Armchair Trader
Self Select ISAs – Stocks and Shares
|Provider||Minimum Deposit||Min per month||Shares Platform fee||Buy/Sell Fees||Active Trader Fees||JISA||LISA|
|Barclays Smart Investor (3)||£50||£25||£48||£6.00|
|Interactive Investor (5)||£100||£25||£119.88||£7.99||£6.00||Yes|
|AJ Bell (6)||£500||£25||£30||£9.95*||£4.95||Yes||Yes|
|The Share Centre (6)||£1.00||£57.60||£7.50||Yes|
|Fidelity International (8)||£1,000||£50||£45||£10.00||Yes|
|Willis Owen (11)||£25||£25||£80||£7.50||Yes||Yes|
|Hargreaves Lansdown (12)||£100.00||£25||£45||£11.95*||£5.95||Yes|
|Charlies Stanley (13)||£500||£50||£70||£11.50||Yes|
Source: The Armchair Trader
Notes: (1) Trade 3+ stocks pm for active trader cost of £3.00. Clients holding investments will be charged a platform fee of £8 per month which can be offset against a trade over the period. Platform fee of up to 0.65% on ETF Smart Portfolio’s; (2) Trade from £8 on UK stocks, plus custody fee of 0.12% pa on accounts with open positions (min monthly fee of EUR 5); (3) 0.2% platform fee on funds. £4 pm or 0.1% fee on other investments up to a maximum of £125 pm. Transaction fee of £3 per fund and £6 per other assets; (4) Online rate per trade on shares is £10.99 (frequent trader rate of £5.00 on 20+ monthly trades) and ETFs fee is £9.99 which can be offset against custody fee per annum of £69.96 paid quarterly. Fund management fee of 0.30%; (5) Clients pay a flat fee of £9.99 pm including a credit of £7.99pm to buy or sell any investment (available for 90 days). You can choose from 3 quick start funds; (6) Trade 10+ stocks pm for active trader cost of £4.95. Additional charge of up to £7.50 per quarter on stocks and shares. Up to 0.25% platform fee on funds plus £1.50 transaction cost; (7) Fixed platform fee of £5 pm. Transaction cost of £7.50 for deals less than £750, 1% for £750 and above; (8) £12.50 platform fee for holding an ISA account. 2,000+ funds or three ready-made portfolio’s with a £2,000 lump sum or £100 monthly payment; (9) Platform fee of 0.35% or flat £45 fee for holdings below £7,500. Share dealing costs relate to ETFs and Investment Trusts; (10) No initial fees on Unit Trusts/OEIC’s, no annual fees, no switching fees and no exit fees; (11) Platform fees reduce to 0.2% for ISA transfers over £250,000. No fees for fund transactions. Four ready made portfolios for inexperienced investors; (12) Trade Shares, ETFs and Investment Trusts for £7.50. 2,500+ Funds or ready-made portfolios based on 3 levels of risk; (13) Trade 10+ stocks per month for active trader cost of £8.95 or 20+ at £5.95. Additional charge of up to £45 pa on stocks and shares. No dealing charge for buying or selling funds but a holding fee of up to 0.45% pa; (14) No fund transaction costs but up to 0.35% platform fee. Min £24, max £240 pa to hold shares, ETFs and Bonds plus £11.50 transaction fee. Foundation portfolio’s available to help you get started.
Further reading: Top ISA funds recommended for you to invest in for 2020