as of 25/03/2020 at 5:30 pm
A safe, solid global player which has recently improved its website for investors. Recent changes include improved share dealing services and performance reporting. If you have more than £7,500 the admin fee is 0.35% a year, so you’ll probably pay about 1.1% a year all-in (although depends on which investments you pick). If you have less than that you'll pay £45 a year for an ISA, which looks pricey for small portfolios.
Google their PathFinder range if you need help in picking the investments to sit inside your ISA or DIY SIPP. If you really want it drilled down they offer one ‘Greatest Hits’ simple fund – the Select 50 Balanced fund which is their investment ready meal for choice-haters! There are also loads of funds from other groups available.
Their performance tool compares your overall portfolio to a benchmark of your choice. It’s a nice thought – but they do use a proxy benchmark (for me it was UK large cap shares) which is a bit odd when I have a portfolio of lots of global funds too. I overlooked the nuance for now as I’m smashing it against the benchmark (!) but it feels a touch more gimmicky than useful?
Large firm: administering £bns on behalf of investors and financial advisers
|Minimum amounts:||£50 minimum monthly amount
£25 minimum initial amount
|12 month indicative performance:||
A medium risk active fund returned 9.2% in 2017, after charges.
"I have about £100,000 invested in an ISA with Investec Click and Invest. They are closing their Click and Invest accounts and I have to find somewhere else to invest the money. Which are some providers of a similar nature, i.e. a managed ISA fund, preferably ones which can be set up and monitored online? I am considering either medium risk or high risk accounts."
10/06/2019Read our reply
"My wife and I invested our full 2019/20 ISA allowance with Investec's Click and Invest offering and were very sad to learn recently that the service was to be closed. We're now in the position of looking for a new ISA provider. I'd prefer to stick with a managed service, such as the one offered by Click and Invest, where our portfolios would be managed by experts, but will consider the DIY option if that proves to be the best on offer. Which platforms are well regarded ISA providers? I'd rather not go with a digital start-up offering, but a more established player with a track record of good performance. I suppose this sounds like I'm asking for advice, which I'm not, just a steer in the right direction as we were not anticipating to be in this position so soon after investing this year's ISA allowance. We actually opted for the Click and Invest service in part, because of the 5 star recommendation on this site; of which we are fond and value the content."
Mr & Mrs S., Sussex
30/05/2019Read our reply
"I've been reading about Beaufort Securities, and how potentially the administrator could have used investor money to cover their costs. What is the best way to avoid the same thing happening to my Stocks and Shares ISA?"
Jenny, Greater Manchester
29/04/2019Read our reply