Do you / will you use ISAs?


(Harry) #48

Honestly I don’t know how or if this is disclosed/used with other platforms. I don’t actually know who does or doesn’t do this.

I work within a wealth management firm and that is how we do it, it’s disclosed in the fine print we give to clients.

Can’t speak on behalf of others!


#49

It just seems much cleaner and straightforward to have fees taken by direct debit in a transparent way that’s entirely separate from investment moneys.

That’s my 2p, anyway.


(Emma) #50

Random thought, how do dividends work in the ISA? If you invest £20,000 on the 5th April and throughout the year you get £500 dividends, does that push you over the limit?


(JamieP) #51

You don’t need to worry, distributions received from stocks already held within the ISA wrapper do not count as additional subscriptions.


#52

And I can only speak from experience with my own providers! :smile:

So with my providers, the ISA fee is taken from cash sitting in my ISA account.

Note that this cash could also be made up of dividend income I have received (and not withdrawn or reinvested) so the fees might not come out of my actual capital investment.

If your investments generate at least £36 in income, this would cover all the fees.