Well it’s that time of year and I have a decision to make today but I’m interested in other peoples views just to help form my own. I’m pretty sure the choice will seem quite obvious but le
I currently have a SIPP and LISA with the AJ Bell platform which is a great platform for people with smaller portfolios and savings.
I have 2 choices in regards to my stocks and shares ISA for 2020 / 2021
Open a S&S ISA with AJ Bell for a greater variety of funds/stocks/trusts (at a cost) and use a basic account on Freetrade for additional investments
Open a S&S ISA with Freetrade and carry out all investments on the platform commission free but have less stocks, shares and funds to choose from
In both scenarios I will not exceed the £20,000 limit, in fact, it’s likely I will only accumulate approx £12,000 into the ISA over the course of the coming financial year. Also, other than OEIC funds, I don’t think I’m truly missing out on much just sticking with Freetrade.
In fact, I’d love to bring my SIPP and LISA over to Freetrade at some point.
So I’m leaning towards option 2, does anyone think I should go with option 1? If so, why??
e.g. in both scenarios I will not exceed the capital gains threshold (with or without an ISA on Freetrade).
P.s. I’m following a dividend growth strategy to get the best of both worlds