Thanks Damo! I have opened a Vanguard ISA last year as everyone was saying they were cheap and I trusted the name. I've never been into trading singular stocks, so T212 didn't really interest me. I didn't realise until this video that they had such a cheap ISA structure and will move over to them now! You've been a great help for me, you've helped me change my investments in my work pension, pick the right stuff for my vanguard ISA, and now you're helping me save fees. Making a difference for people for sure
Sounds like you are doing so well! Glad i can be a help and well done for taking ownership of your investing journey. The tweaks and changes you have made will make a massive difference in years to come.
Me too. Thanks Damien, you really are helping educate us on all things financial management. 2 years ago I knew nothing other than my works pension and AVCs with another company partnered with my work pension fund.
Hi Damien, for the Lifetime isa is there any one else you can recommend instead of H&L for buying individual stocks? As 212 doesn't offer this option. Thankyou for your channel, great information 👍
Thanks for your content Damo! I was so unsure what to do with my savings, all I knew was having it in a bank wasn't good enough. You gave me the courage to do the research by breaking down your content into clear, understandable terms. It's because of you I have some decent investments going. I recommend your channel to my mates.
I love how the proposed benefit of the Vanguard platform is " going straight to the supplier" cutting out the middle man. And yet you'll pay more in fees than if you use a middle man. Genius!
Damo, thanks for another great video. I used last year's to select my ISA provider and will do the same this year. Small favour could you do a similar video on SIPP providers and general investment accounts - there is less on TH-cam in respect of both of these and SIPPs in particular are quite important especially for the self employed.
Came here to say the same! I’m with Nutmeg still (some options were closed when I setup a couple of years ago) so would be great to hear if other options could be saving me some money or getting some added value in other ways. Thanks Damo! Another great video with nicely balanced and reasoned opinions 👍🏻 Also, whilst requesting videos - could we have one on NHS pensions please? Love your pension vids, but being in the NHS they don’t really apply and I’m guessing a decent number would like a video since the NHS is the UK’a biggest employer! Please and thank you!
Thanks Damien great video, would love to see a similar video on SIPP providers and your thoughts on them on which are the best ones please, also a video in more detail about transferring an ISA and how it works and if fees apply to do so. keep up the great work i would of never invested my money if it wasn't for you so thank you.
Great video mate 👍 I agree with you about the fund fees for the ETFs on Vanguard. I have three main platforms that I use, T212 (for all individual share purchases), Vanguard (for ETFs) and HL (for the LISA). My T212 has grown to a 6 figure portfolio of individual shares which is why I started investing in Vanguard for my ETFs. Although I can invest in the same Vanguard ETFs on T212 with no fees, for me it's about spreading the risk across multiple platforms. I would happily take the hit on the 0.1-0.2% ETF fees on the Vanguard platform rather than having one big portfolio in one platform. Granted they are all FCA regulated and all that jazz, just the thought of having everything in one platform doesn't sit right with me.
If you buy the etfs on trading 212 for example, you'll still have the underlying etf fees same as on Vanguard platforn. And still no buying or selling fees, just Vanguard's platforn fee of 0.15%
@@fredatlas4396 Ahh yes you're right. I didn't think of this. It doesn't mention it anywhere on the T212 platform but I just opened up the 'Key Information Document' for an ETF and it shows the ongoing charge on there. Now I feel even better about my decision of investing into ETFS directly though Vanguard 👍🏼
Thanks for the great videos. Really helping me as a beginner investor. For those querying the T212 isa agreement referring to a single provider, they had the following response when i emailed them: 'Apologies about this - it's a visual bug from our side. The new regulations are applied on our side too, thus why soon you'll see the amended form.'
I hope you realise how much you're helping people like me who are completely clueless with this stuff, great content. You deserve to make a fuck ton of money mate, keep it up!
Thanks Damien for such consistently high quality content…once my kids are old enough that I can get them to care about investing, your channel is the first place I’m pointing them towards. Just a note on 212, I’ve been waiting for the new tax year to open an ISA but their terms and conditions still state that you can’t subscribe to any other stocks ISA inside the tax year….I’m sure they will update in due course, but currently the terms don’t match the new rules
Thanks Damien! I'm also sticking with Vanguard for now. I really enjoy these videos, really feels like the channel has gone back to its roots. Great stuff.
Thanks Damien, just opened my T212 ISA after this video. I also recently moved my pension onto vanguard after watching your videos. Thank you for the help and keep up the good work
Thanks Damien, I will be sticking with Vanguard due to its reputation in the industry. No point switching if I don't need all the bells and whistles as I prefer long and steady growth with passive investing, albeit with higher fees but I think it's worth it knowing Vanguard will be operating for many years to come.
I feel the same, although Vanguard is slightly more expensive, the security of knowing it’s secure makes me feel much better. I also don’t like the fact that Trading212 is the main sponsor of every video. It worries me.
Great video. It would be helpful to get an explainer on the differences, if any, of investing in index funds vs ETFs. As some platforms offer only the ability to invest in ETFs but not mutual/index funds.
one thing I somehow learned from being on T212 a bit is that you get dividends, and dividends can be re-invested, and things tend to either give dividends or grow, I think?
After watching you for months, I'm finally going to move my ISAs to ones that aren't charging me stupid fees - plus they are going to try and move them without converting to cash - thanks Damien
I have both my SIPP and ISA with Vanguard, but am taking the plunge and opening an ISA to T212 this year, to save on fees and add in a couple of individual stocks😁. I already have a GIA with them and like the platform.
Interactive investor is a good shout too! I am lucky that I have a family member who waives the monthly fee by being in their family plan. With free regular investing, I'm only paying the fee for the fund itself, its great! Thanks for the video, happy new tax year!
@alfonsohorcajada4399 not sure I agree, for instance, to get ftse all world through vanguard cost 0.22% a year. To do the same through interactive investor with an hsbc oeic fund cost 0.12% and only a small fixed fee. So depending what you buy, interactive investor can be significantly cheaper.
Great video. I know it focuses on ISA’s, and this is a more general comment. I hate the high fees of HL. But the linked account feature, app, active savings for below your personal allowance, bond availability and customer service are all spot on. I don’t put all my investments here, but for shorter term investments of less than 5 years I find them hard to beat! So much of money is about behaviour, not percentages, and sometimes (although not by you) I think HL gets absolutely hammered by commentators for very slightly higher fees than the market. I totally agree that fees are important, it’s why I wouldn’t hold my SIPP with them. But in general I don’t think they should be overlooked.
I agree. I have an HL ISA. Yes, the fees are slightly higher, but the access to Funds, including some great passive trackers, that aren't available in T212 has kept me there; even with the fees, I'm seeing great returns. The fact I can now split is a godsend; I will keep HL for funds' long-term growth with little movement (i.e. stay away from the HL dealing fees) and use T212 for the playing around more adventurous stuff. Damien, I know this is a first-world problem, but do you have any advice on using my ISA allowance all upfront, or is it better to drip feed (DCA) through the year? "time in the market is better than the timing of the market"?
@@topper133so HL fees are not mega high ?Iike everyone says ?? And they are just slightly higher than say vanguard ?? Like you I have my 20k ISA allowance at hand ,but don't know whether to put it all in now in one go ( say split between a couple of ETFs or drop feed it in over the next 12 months ( say £1600 a month ) But I did watch a video other day and was saying over the last 50 years lump sum beat dollar cost averaging 80 percent of the time ( guessing the other 20 percent was during the few crashes they has been ) And some so called experts are predicting a crash or possible 20 percent drop on the s and p etc So I still haven't made up my mind to lump sum or DCA
Flexible ISAs vs Non-Flexible ISAs -- how about that as a topic for a future video? Basically what the best flexible ISA providers are. Cheers for the video, really good.
Yeah, I noticed that Vanguard ISAs are flexible whereas Investengine ones aren’t. So if that’s important, it makes Vanguard themselves more attractive.
I also would love you to do a video on transferring ISAs...I am happy with Vanguard but lower costs would be good,as before when I started (thanks to your older videos), I am a bit spooked by moving, especially as for me it is quite a bit of Money. As ever, great video Damo.
opened my account with vanguard today after watching your videos for a while and found them to be very helpful. hope you continue to make these videos!
Damo I would really appreciate it if you did a video on investing for children on which platform is best for S&S junior isa etc. Keep up the great work. 👍
Thanks Damien, great content. I'm reasonably new to investing and watching your videos has helped a lot. Started on HL but opening T212 this year. Keep up the great work.
Can I just say that your channel and Tobys are the 2 single best channels on TH-cam for UK people. Both are excellent. Been watching both for about 6 months now to help myself understand everything etc and started investing in January 2024 and yes I too wish I had started sooner 😂
Hi Damien. I just wanted to say BIG thank you for your advice. Following this post I opened a trading 212 account using your link and my free share was Tesla. Today, less than a week later it as gone up 15% !!!!. So I’ve sold. It was only a small amount as I dipping my toe in the water and I know this was pure chance but a win is a win . I have learnt so much from you and more importantly you have given me the confidence to do something rather than nothing. 👍👍👍
Damien, Im a new sub and I definitely think 2024 is your year! You've helped myself and many others when it comes to financial side of things, your videos help inform us to make better financial decisions. Keep up the good work!
Just moved my ISA from high street bank to platform similar to the one Damo mentioned. Saving a load in fees and with far better choice of funds. Totally pays to be on top of these things. Thanks Damo for keeping us right with stuff like this!
Thanks Damien for a great video! Could you please also cover ISAs provided by UK banks (e.g Lloyd’s, Barclay etc)? What are their pros and cons when compared with brokers that you’ve mentioned in the video? Thanks!
Thanks for all the info! I was holding stuff in cash outside an ISA for way too long. Ever considered a vid on the best GIA, that will also help with annual tax information?
Great video. Any reason interactive investor didn't get a look in? From what I can see if you have a larger pot and are not regularly trading they're superb value!
I was wondering the same. I use them for Sipp, ISA and GIA and with a decent pot, they're very good value. Also, unless I've misread it, you can't buy gilts, OEICs or investment trusts on 212, which was my main reason to go for a one stop shop with II
As someone that works in the industry (and takes advantage of the deal you reference) I'd be a little bit wary of the cross subsidizing. The FCA has made it very clear that product charges need to reflect the cost to provide said service. Zero fee ISAs, covered by profit generating GIAs will no doubt be deemed unsustainable very soon
I was gonna ask the same question....but unsure how transferring from say Vanguard to T212 would work, I mean how anything you have saved over the years is effected etc Seems a bit counterproductive to pay more fees than you need to. But it is like the unknown is a bit scary!! I had that before watching your videos years back now Vanguard ISAs are easy
Cheers Damo, always a pleasure! All comprehensive videos like this ever do is make me second guess, question and doubt everything I'm doing with my ISA/LISA's 😂😭 Ohhhh lorrrrd
Thank you for your videos. So easy to understand. I always wanted to invest but found it so puzzling. Since discovering your channel I've been totally addicted to investing now.
Damo great content, about a year ago you helped me realize that my money sitting in a cash isa was doing nothing for my future, it was a real light bulb moment, I used vanguard and now have 2 years of ftse all cap index fund, I transferred my remain balance to vanguard a few days ago after it taking 1 1/2 months to move, after seeing your video I will transfer half to 212
There's a feature I think many youtuber didn't mention, is portfolio transfer. Trading 212 just now introduced the feature fully so I transfered all my 2022 ISA account from HL to 212. (have enough of HL's stock trading fee and high FX fee)
Hey Damien, long term appreciator of your content. You reckon you could make a video exploring investment options for British expats? Oftentimes it’s difficult for us to use the aforementioned platforms as they require a permanent address in the UK. Not only would I personally appreciate it, but I’m sure there will be a growing number of British citizens moving overseas given the current state of the UK! Cheers
Great video. A few things worth mentioning about T212. 5.2% is great way to dump some cash into an ISA, not pay tax on interest earnt whilst £cost averaging in. Although not FSCS protected.
One thing you didn't mention is that the 5.2% interest on the trading 212 platform is actually invested in money market funds and other avenues and you have to enable this interest option. Although the risk is low in money market funds, there is still a risk that it can actually lose value or not perform as advertised.
Vanguard fan here, but I agree that they are starting to look expensive with newcomers snapping at their heels. Just opened a new S&S ISA with Invest Engine. It looks easy to use, cheap (free is always cheap) and for an unsophisticated investor it offers a broad range of ETFs.
I hear the bit about not bothering to move away. I've still got money with HL even though I've been with Vanguard for the last few years. I'm super excited about the multiple platform rule.
Great video Damian and food for thought. Ive got a lots of cash in vanguard and for some reason it feels safer in here for me. Happy to pay slightly higher. The platform fees are annoying but I’m way over 250K now. So May as well stick with them. Easy to use and just works.
I know what you mean about safety but IE keep investors money ring fenced, they’re actually in Nat West, so pretty safe I think the biggest threat is cyber crime. Ignore ALL unsolicited emails, ALL
Great content Damien. Your videos have provided me with the background knowledge (and an understanding of what 'risk' means). When I try to explain to family and friends that investing doesn't mean you have to sit in front of a multitude of screens all day long risking everything you own 'Wolf of Wall St style' they look a me like Ive s#%t in their kettle! Ive downloaded compound calculators and done a shed load of research because of your videos and have identified that if you have many years of investing in front of you, you can invest in indexes that minimise/mitigate short term 'risks' by sticking with the plan. I now look forward to many years of investing and fingers crossed a cracking retirement at around the age 60. Goodbye to regular bank davings accounts and fixed term cash ISAs, and hello to stocks and shares ISAs (100% Lifestrategy). Many thanks!
I've been with Freetrade for about two years now and this was really insightful, thank you. I've never been with any other provider but after watching this I'm considering stitching to 212 or IE but unsure on the process or if it would effect my ISA allowence for the year. Perhaps a video about the transfer process for different providers might be a good idea if one doesn't exist already.
I've recently completed my ISA transfer from one provider to IE. My allowance was not affected. All you have to do is make sure you transfer your ISA by completing the transfer form within IE and they handle everything else. It does take a couple of weeks to complete though.
Yes same here I had an old ISA transferred over from Quilter to Invest Engine. Was very easy to do, once you request it you just wait. But it does take a long, long time. I requested the transfer on 26th Feb, it eventually completed on 4th April… Transfers do not affect your allowance. You can transfer ISAs over and still add your £20k in
Love your videos, always extremely informative. I see you don't talk too much about fidelity? Any reason? I currently use only them as an investment tool for my ISAs. Thanks
Damien - great content. Trading212 S&S cash interest rate is 5.2% - that is an amazing rate compared to the likes of H&L which is tiered around 3.2%. I thought there must be a catch - there is - cash is invested with a QMMF - so there is no FSCS cash protection(that you’d normally get up to £85k). What are your thoughts on this?
That was a really informative yet concise summary- much appreciated. Given the relative complexity of Interactive Brokers, demystifying that site would be a real help if possible. Thanks for your great work.
Cheers Damien. Well played getting this video out so early in the new tax year! Thanks again for everything you do on here, I know you get paid for doing it, but it must be super-satisfying knowing you are helping so many people out. Just read the comments of how you are positively impacting people’s lives. I can honestly say, that by switching out of my default pension fund (because of you sir!) I am literally tens of thousands of pounds wealthier than I was before. So… thank you! And a shout out to the others as well like Ramin, Pete at Meaningful Money, Toby, Chris Bourne et al…
Great video Damo. I've been pretty loyal to AJ Bell as is who provides my LISA but i think for this tax year I'm going to try trading 212 now that i can use multiple ISA providers. This allows me more flexibility.
Great video and informative. I've only recently started investing and used your videos for guidance. Worth mentioning that there's a 0.5% tax on investing in UK companies in the form of stamp duty reserve tax. If you have my mistake. I hear though that there is pressure on the govt to stop this tax or at least reduce it.
Great timing of video with the new tax year coming up, thank you. Would be interested to see a video on the pros/cons of transferring from a GIA to ISA account.
I'm normally a vangaurd diehard. However I have just transferred my ISA to investengine due to the lower fees. As soon as they have got their SIPP transfer ready I'll also do that too. Funnily enough I'll be using T212 as well just like you Damien. What's that saying... Great minds think alike? Haha lol. Great video bud
Great video fella. So interesting around the fees… could imagine the amount you’d have paid HL if you were still with them would be a nice chunk…. Makes a huge difference to the pot.
Thanks for the comparison it helps to see what the other options are. I’m with fidelity UK for the last 2 years now and I find it good to use (even though it might not be the cheapest). Can you include fidelity in your next comparison video please
Surprised you didn’t mention Interactive Investor any reason why not? 4.7 on Trust Pilot and very cheap fees for large sums as they don’t charge a % fee. I believe they are the 2nd largest broker in the UK ?
Great video, thankyou as always for great content, for possible future video would be good to know the process to switch ISA to different vendors, currently using Fidelity which seem ok.
Excellent video Damo! I’ve been saving it until I had time to sit down and listen fully and it didn’t disappoint! Thank you so much for all the work you do researching and pulling this together for us all! I started with Vanguard after seeing one of your earlier videos (The Loft Archives), and now I feel I need to explore Trading212 further, particularly with the rules changes to ISA’S. I’m not sure myself. But have you done a walkthrough video before of T212? E.g. setup and purchasing a share? Like what you done previously with Vanguard. As I say, thanks again for all your hard work: the channel’s growth is testament to all your graft Sir, keep it up! 🙌
Another highly informative video, Thankyou! Always on the pulse with topics that are relevant for right now. Please could you do a video comparing pension options for self employed people? And maybe a JISA comparison too please? Thankyou!
Great video Damien, you’ve answered my question to perfection,👌🏻 so a big thank you from me. Keep up the fab work you do for us that want to invest but get lost along the way.
The ISA declaration on trading 212 for this new year seems to imply you cannot have another s&s isa other than them. I’ve messaged them for clarification as it seems to be a copy last job from last year
Don’t want to be a nerd but ‘cutting the fund fee’ ( re vanguard) was kinda outlawed way back following the RDR regs ( ban on rebates at least … with some complex caveats I won’t go in to ) and modern day might raise ‘consumer duty’ questions. I say ‘might’ as CD is so wide it potentially encapsulates everything and anything!! Operationally it’s messy too. Vanguard would be better off lowering other fees to bring the net cost in line with competitors.
Damien - another great video - idea for a follow up video - what happens and what to expect and deal with when transferring from one stocks & shares ISA to another. For example in specie or is everything sold and cash transferred and which of the providers you discussed today offer what options. Helping to understand how to consolidate, or spread providers, especially with the new ISA rules could be helpful.
Will depend very much on the individual providers used. If your moving to a platform that doesn't have shares for example they will be sold with your current provider. Many funds are not on all platforms whether it's because they are less widely traded or only featured on the platform. Otherwise investments in the same funds should be switched to the new provider. I would not entirely be sure that a mixed portfolio wouldn't be sold and then the new provider buy back what it can to match value as close as possible. You might also be charged for leaving but in general a new provider will cover several £100 of fees from your old provider.
Great video thanks. Any chance of a similar up to date comparison of all the different SIPP providers? Maybe at different balance levels, as the best providers for a small pension may not be the best providers for a larger pension.
I think you should make it clear that if you choose the higher interest rate option on Trading 212 you lose FSCS protection. That's potentially a very big issue.
Great video Damien, very well explained.. Like you I started with HL and been with them for a few years.. Its a no brainer to start with trading 212, Ive already set up my account and will start investing.. Just need to decide If i should move my investments over to 212.. Keep up the good work😊
Brilliant content as always I was toying with the idea of having a trading 212 isa alongside my vanguard isa, 100% going to do this now. I like my vanguard isa and dobt want to change things but will use the Trading 212 isa to try the Vanguard All World as i believe with them i can buy it fractionally where I cant on Vanguard (I hope thats correct lol)
I wasn't aware you could do this until now and like you I'll continue to invest into my vanguard isa but this year maybes only give vanguard 10k and put 10k into trading 212 where I could maybes put some into schd or even some individual USA stocks
Do you feel it's a negative that T212 doesn't offer OEICs/Unit Trusts or are you satisfied that ETFs are sufficient? Would love to hear you do a video comparing pros & cons of: OEICs vs ETFs vs Investment Trusts Also, do you feel there is much insolvency risk with these new providers like T212 vs more traditional providers: HL, Fidelity, Vanguard etc. Even with FSCS protection, perhaps there is a risk of being unable to access your money for several months in such a scenario. Thanks Fab video too. I work in finance and really value the content and education you are providing to people. Keep it going! 👏
Love your content. I signed up to your emails, and I've been using the finance spreadsheet you created. My wife and I are trying to find info on whether two people can contribute to one ISA. It's very 50/50. Some say it's fine. Other's say your contributions must be your own.
Thanks Damo! I have opened a Vanguard ISA last year as everyone was saying they were cheap and I trusted the name. I've never been into trading singular stocks, so T212 didn't really interest me. I didn't realise until this video that they had such a cheap ISA structure and will move over to them now!
You've been a great help for me, you've helped me change my investments in my work pension, pick the right stuff for my vanguard ISA, and now you're helping me save fees. Making a difference for people for sure
Sounds like you are doing so well! Glad i can be a help and well done for taking ownership of your investing journey. The tweaks and changes you have made will make a massive difference in years to come.
Me too. Thanks Damien, you really are helping educate us on all things financial management. 2 years ago I knew nothing other than my works pension and AVCs with another company partnered with my work pension fund.
I should probably look deeper into this. So a 20k fund would cost £300pa @.015% which is avoided with t212?
Hi Damien, for the Lifetime isa is there any one else you can recommend instead of H&L for buying individual stocks? As 212 doesn't offer this option.
Thankyou for your channel, great information 👍
@@BenGmanUk£30 not £300
Thanks for your content Damo! I was so unsure what to do with my savings, all I knew was having it in a bank wasn't good enough. You gave me the courage to do the research by breaking down your content into clear, understandable terms. It's because of you I have some decent investments going. I recommend your channel to my mates.
Love this! I am so happy i was able to give you the confidence to do this for yourself. Thank you for sharing the channel
Hi mate,
I invest into the SP500 fund with vanguard, do I need another stocks and share ISA such as with moneybox ?
I love how the proposed benefit of the Vanguard platform is " going straight to the supplier" cutting out the middle man. And yet you'll pay more in fees than if you use a middle man. Genius!
and also a supplier of indexes I mean there is some irony here XD
You can't get VAFTGAG elsewhere though
Damo, thanks for another great video. I used last year's to select my ISA provider and will do the same this year. Small favour could you do a similar video on SIPP providers and general investment accounts - there is less on TH-cam in respect of both of these and SIPPs in particular are quite important especially for the self employed.
Second this, I’m self employed too and need a suitable SIPP. HL isn’t the one….
Hi, Chris Palmer has done an excellent video on the best UK SIPP provider. Well worth watching - Lee
Excellent thank you. If possible a LISA comparison video would be amazing!
Came here to say the same! I’m with Nutmeg still (some options were closed when I setup a couple of years ago) so would be great to hear if other options could be saving me some money or getting some added value in other ways.
Thanks Damo! Another great video with nicely balanced and reasoned opinions 👍🏻
Also, whilst requesting videos - could we have one on NHS pensions please? Love your pension vids, but being in the NHS they don’t really apply and I’m guessing a decent number would like a video since the NHS is the UK’a biggest employer! Please and thank you!
Thanks Damien great video, would love to see a similar video on SIPP providers and your thoughts on them on which are the best ones please, also a video in more detail about transferring an ISA and how it works and if fees apply to do so. keep up the great work i would of never invested my money if it wasn't for you so thank you.
Great video mate 👍 I agree with you about the fund fees for the ETFs on Vanguard. I have three main platforms that I use, T212 (for all individual share purchases), Vanguard (for ETFs) and HL (for the LISA). My T212 has grown to a 6 figure portfolio of individual shares which is why I started investing in Vanguard for my ETFs. Although I can invest in the same Vanguard ETFs on T212 with no fees, for me it's about spreading the risk across multiple platforms. I would happily take the hit on the 0.1-0.2% ETF fees on the Vanguard platform rather than having one big portfolio in one platform. Granted they are all FCA regulated and all that jazz, just the thought of having everything in one platform doesn't sit right with me.
If you buy the etfs on trading 212 for example, you'll still have the underlying etf fees same as on Vanguard platforn. And still no buying or selling fees, just Vanguard's platforn fee of 0.15%
@@fredatlas4396 Ahh yes you're right. I didn't think of this. It doesn't mention it anywhere on the T212 platform but I just opened up the 'Key Information Document' for an ETF and it shows the ongoing charge on there. Now I feel even better about my decision of investing into ETFS directly though Vanguard 👍🏼
Thanks for the great videos. Really helping me as a beginner investor.
For those querying the T212 isa agreement referring to a single provider, they had the following response when i emailed them:
'Apologies about this - it's a visual bug from our side. The new regulations are applied on our side too, thus why soon you'll see the amended form.'
I think you are bloody brilliant! I have taken financially beneficial steps based on your content. Just want to say THANKS 😊
You legend thank you so much very generous
Thanks Damien. It would be great to do another video but with a focus on SIPPs 😎
I hope you realise how much you're helping people like me who are completely clueless with this stuff, great content. You deserve to make a fuck ton of money mate, keep it up!
Thanks Damien for such consistently high quality content…once my kids are old enough that I can get them to care about investing, your channel is the first place I’m pointing them towards. Just a note on 212, I’ve been waiting for the new tax year to open an ISA but their terms and conditions still state that you can’t subscribe to any other stocks ISA inside the tax year….I’m sure they will update in due course, but currently the terms don’t match the new rules
I’ve used trading 212 for a year now, love it and will be sticking with it
Thanks Damien! I'm also sticking with Vanguard for now.
I really enjoy these videos, really feels like the channel has gone back to its roots. Great stuff.
Thanks Damien, just opened my T212 ISA after this video. I also recently moved my pension onto vanguard after watching your videos.
Thank you for the help and keep up the good work
You are very welcome! Thanks for taking the time to comment
Thanks Damien, I will be sticking with Vanguard due to its reputation in the industry. No point switching if I don't need all the bells and whistles as I prefer long and steady growth with passive investing, albeit with higher fees but I think it's worth it knowing Vanguard will be operating for many years to come.
I feel the same, although Vanguard is slightly more expensive, the security of knowing it’s secure makes me feel much better. I also don’t like the fact that Trading212 is the main sponsor of every video. It worries me.
I get this completely! It’s why I keep sipp there
I hope vanguard reward our loyalty and continue to improve the website/cut fees.
I'm in the same boat. Well said.
Huge fees on anything but small portfolios . Wait until you are older, you may change your mind.
@@user-fv1576not really mate, it’s 0.15% and capped at £375 per year for accounts over £250,000. I think I will be alright.
I switched my ISA and SIPP to ii a few years back and have been really happy. Surprised they don't get a mention.
That's why I asked a few minutes ago. I think ii is a great choice. Customer Service is great for me.
Great video. It would be helpful to get an explainer on the differences, if any, of investing in index funds vs ETFs. As some platforms offer only the ability to invest in ETFs but not mutual/index funds.
Yep, that would make for a good video 👍
one thing I somehow learned from being on T212 a bit is that you get dividends, and dividends can be re-invested, and things tend to either give dividends or grow, I think?
Of course I'm only going to open my new ISA in Trading 212 annnnnnd get the hubby to do the same - your advice is always on point thank you Damien!
Love you Mel and your hubby! 😂
After watching you for months, I'm finally going to move my ISAs to ones that aren't charging me stupid fees - plus they are going to try and move them without converting to cash - thanks Damien
I have both my SIPP and ISA with Vanguard, but am taking the plunge and opening an ISA to T212 this year, to save on fees and add in a couple of individual stocks😁. I already have a GIA with them and like the platform.
Interactive investor is a good shout too! I am lucky that I have a family member who waives the monthly fee by being in their family plan. With free regular investing, I'm only paying the fee for the fund itself, its great! Thanks for the video, happy new tax year!
If you remove the monthly fee then great but for the rest or humans II is overpriced
@@alfonsohorcajada4399it’s not overpriced if you have a large portfolio of over 100k. The larger the portfolio the more you save with ii.
@alfonsohorcajada4399 not sure I agree, for instance, to get ftse all world through vanguard cost 0.22% a year. To do the same through interactive investor with an hsbc oeic fund cost 0.12% and only a small fixed fee.
So depending what you buy, interactive investor can be significantly cheaper.
Great video. I know it focuses on ISA’s, and this is a more general comment.
I hate the high fees of HL. But the linked account feature, app, active savings for below your personal allowance, bond availability and customer service are all spot on.
I don’t put all my investments here, but for shorter term investments of less than 5 years I find them hard to beat!
So much of money is about behaviour, not percentages, and sometimes (although not by you) I think HL gets absolutely hammered by commentators for very slightly higher fees than the market. I totally agree that fees are important, it’s why I wouldn’t hold my SIPP with them.
But in general I don’t think they should be overlooked.
I agree. I have an HL ISA. Yes, the fees are slightly higher, but the access to Funds, including some great passive trackers, that aren't available in T212 has kept me there; even with the fees, I'm seeing great returns.
The fact I can now split is a godsend; I will keep HL for funds' long-term growth with little movement (i.e. stay away from the HL dealing fees) and use T212 for the playing around more adventurous stuff.
Damien, I know this is a first-world problem, but do you have any advice on using my ISA allowance all upfront, or is it better to drip feed (DCA) through the year? "time in the market is better than the timing of the market"?
@@topper133so HL fees are not mega high ?Iike everyone says ?? And they are just slightly higher than say vanguard ??
Like you I have my 20k ISA allowance at hand ,but don't know whether to put it all in now in one go ( say split between a couple of ETFs or drop feed it in over the next 12 months ( say £1600 a month )
But I did watch a video other day and was saying over the last 50 years lump sum beat dollar cost averaging 80 percent of the time ( guessing the other 20 percent was during the few crashes they has been )
And some so called experts are predicting a crash or possible 20 percent drop on the s and p etc
So I still haven't made up my mind to lump sum or DCA
Flexible ISAs vs Non-Flexible ISAs -- how about that as a topic for a future video? Basically what the best flexible ISA providers are. Cheers for the video, really good.
Yeah, I noticed that Vanguard ISAs are flexible whereas Investengine ones aren’t. So if that’s important, it makes Vanguard themselves more attractive.
I also would love you to do a video on transferring ISAs...I am happy with Vanguard but lower costs would be good,as before when I started (thanks to your older videos), I am a bit spooked by moving, especially as for me it is quite a bit of Money. As ever, great video Damo.
if / how to transfer an ISA, pros and cons would be really interesting, I agree
Damo, you're a brave lad flashing your lights in Tesco car park at this time of day. Will give this a watch later, have a good weekend mate.
Haha mate i am always there flashing my lights lad. Happy to have a meal deal anytime
🐕
Thank you for the insight, your content has been invaluable for me over the last couple of years, all the best.
opened my account with vanguard today after watching your videos for a while and found them to be very helpful. hope you continue to make these videos!
Damo I would really appreciate it if you did a video on investing for children on which platform is best for S&S junior isa etc. Keep up the great work. 👍
Fidelity and HL for JISA can be good no-fee options. Fidelity for Junior SIPP. With Fidelity stick to funds to avoid buying/selling charges.
Thanks Damien, great content. I'm reasonably new to investing and watching your videos has helped a lot. Started on HL but opening T212 this year. Keep up the great work.
Let me know how you get on!
Can I just say that your channel and Tobys are the 2 single best channels on TH-cam for UK people. Both are excellent. Been watching both for about 6 months now to help myself understand everything etc and started investing in January 2024 and yes I too wish I had started sooner 😂
Hi Damien. I just wanted to say BIG thank you for your advice. Following this post I opened a trading 212 account using your link and my free share was Tesla. Today, less than a week later it as gone up 15% !!!!. So I’ve sold. It was only a small amount as I dipping my toe in the water and I know this was pure chance but a win is a win . I have learnt so much from you and more importantly you have given me the confidence to do something rather than nothing. 👍👍👍
Damien, Im a new sub and I definitely think 2024 is your year!
You've helped myself and many others when it comes to financial side of things, your videos help inform us to make better financial decisions.
Keep up the good work!
Just moved my ISA from high street bank to platform similar to the one Damo mentioned. Saving a load in fees and with far better choice of funds. Totally pays to be on top of these things. Thanks Damo for keeping us right with stuff like this!
Glad it is working out for you! While they are not everything fees are the only thing we can control as investors so 100% worth focusing on.
Thanks Damien for a great video!
Could you please also cover ISAs provided by UK banks (e.g Lloyd’s, Barclay etc)? What are their pros and cons when compared with brokers that you’ve mentioned in the video?
Thanks!
Barclays fees are high and I disliked the fact that it's not immediately clear what the fees are, without wasting your time reading their marketing.
Thanks for all the info! I was holding stuff in cash outside an ISA for way too long. Ever considered a vid on the best GIA, that will also help with annual tax information?
Omg thank you for mentioning the spread inflation thing at the beginning - this has been my fight for years.
I see it everywhere mate! Its like a conspiracy haha
Great video. Any reason interactive investor didn't get a look in? From what I can see if you have a larger pot and are not regularly trading they're superb value!
I was wondering the same. I use them for Sipp, ISA and GIA and with a decent pot, they're very good value. Also, unless I've misread it, you can't buy gilts, OEICs or investment trusts on 212, which was my main reason to go for a one stop shop with II
I am a newbie, and was wondering the same.
great honest informative vid, 50/50 with IE and t212 just max funded both.. roll on 25/26 tax year
As someone that works in the industry (and takes advantage of the deal you reference) I'd be a little bit wary of the cross subsidizing. The FCA has made it very clear that product charges need to reflect the cost to provide said service. Zero fee ISAs, covered by profit generating GIAs will no doubt be deemed unsustainable very soon
Great video as always! A detailed video on isa transfers would be great. Currently thinking of moving from HL to a lower fee platform 👍
I was gonna ask the same question....but unsure how transferring from say Vanguard to T212 would work, I mean how anything you have saved over the years is effected etc Seems a bit counterproductive to pay more fees than you need to. But it is like the unknown is a bit scary!! I had that before watching your videos years back now Vanguard ISAs are easy
Cheers Damo, always a pleasure!
All comprehensive videos like this ever do is make me second guess, question and doubt everything I'm doing with my ISA/LISA's 😂😭
Ohhhh lorrrrd
Thank you for your videos. So easy to understand. I always wanted to invest but found it so puzzling. Since discovering your channel I've been totally addicted to investing now.
Great video, mate -- extremely helpful! Will you do a similar thing for best SIPP provider?
Like you, I had a very smooth and seamless transfer from another provider to Vanguard, with no issues whatsoever 😊
Damo great content, about a year ago you helped me realize that my money sitting in a cash isa was doing nothing for my future, it was a real light bulb moment, I used vanguard and now have 2 years of ftse all cap index fund, I transferred my remain balance to vanguard a few days ago after it taking 1 1/2 months to move, after seeing your video I will transfer half to 212
There's a feature I think many youtuber didn't mention, is portfolio transfer. Trading 212 just now introduced the feature fully so I transfered all my 2022 ISA account from HL to 212. (have enough of HL's stock trading fee and high FX fee)
Hey Damien, long term appreciator of your content. You reckon you could make a video exploring investment options for British expats? Oftentimes it’s difficult for us to use the aforementioned platforms as they require a permanent address in the UK. Not only would I personally appreciate it, but I’m sure there will be a growing number of British citizens moving overseas given the current state of the UK! Cheers
Great video. A few things worth mentioning about T212.
5.2% is great way to dump some cash into an ISA, not pay tax on interest earnt whilst £cost averaging in. Although not FSCS protected.
One thing you didn't mention is that the 5.2% interest on the trading 212 platform is actually invested in money market funds and other avenues and you have to enable this interest option. Although the risk is low in money market funds, there is still a risk that it can actually lose value or not perform as advertised.
Any chance you could do a video about who is best this year for a SIPP :) quality video yet again
Damien, Please consider doing a video of the pros and cons of investing in Berkshire Hathaway in an ISA and SIPP for UK investors. Thanks
Used your link last week to set up a new T212 Isa
Vanguard fan here, but I agree that they are starting to look expensive with newcomers snapping at their heels. Just opened a new S&S ISA with Invest Engine. It looks easy to use, cheap (free is always cheap) and for an unsophisticated investor it offers a broad range of ETFs.
I hear the bit about not bothering to move away. I've still got money with HL even though I've been with Vanguard for the last few years. I'm super excited about the multiple platform rule.
Great video Damian and food for thought. Ive got a lots of cash in vanguard and for some reason it feels safer in here for me. Happy to pay slightly higher. The platform fees are annoying but I’m way over 250K now. So May as well stick with them. Easy to use and just works.
I know what you mean about safety but IE keep investors money ring fenced, they’re actually in Nat West, so pretty safe
I think the biggest threat is cyber crime.
Ignore ALL unsolicited emails, ALL
Great content Damien. Your videos have provided me with the background knowledge (and an understanding of what 'risk' means). When I try to explain to family and friends that investing doesn't mean you have to sit in front of a multitude of screens all day long risking everything you own 'Wolf of Wall St style' they look a me like Ive s#%t in their kettle! Ive downloaded compound calculators and done a shed load of research because of your videos and have identified that if you have many years of investing in front of you, you can invest in indexes that minimise/mitigate short term 'risks' by sticking with the plan. I now look forward to many years of investing and fingers crossed a cracking retirement at around the age 60. Goodbye to regular bank davings accounts and fixed term cash ISAs, and hello to stocks and shares ISAs (100% Lifestrategy). Many thanks!
th-cam.com/video/u3XkcbZW_DM/w-d-xo.html
Great. I’ve signed up to trading 212 via your link. Thanks.
I've been with Freetrade for about two years now and this was really insightful, thank you. I've never been with any other provider but after watching this I'm considering stitching to 212 or IE but unsure on the process or if it would effect my ISA allowence for the year. Perhaps a video about the transfer process for different providers might be a good idea if one doesn't exist already.
I've recently completed my ISA transfer from one provider to IE. My allowance was not affected. All you have to do is make sure you transfer your ISA by completing the transfer form within IE and they handle everything else. It does take a couple of weeks to complete though.
Yes same here I had an old ISA transferred over from Quilter to Invest Engine. Was very easy to do, once you request it you just wait. But it does take a long, long time.
I requested the transfer on 26th Feb, it eventually completed on 4th April…
Transfers do not affect your allowance. You can transfer ISAs over and still add your £20k in
I transfered an ISA to IE; just compleated a simple IE online form, they transfered an ETF in specie, in a week or two.
Brilliant run-through, Damien! I'll be doing the same as you: IE and T212. Hard to see why I'd use anyone else!
Love your videos, always extremely informative. I see you don't talk too much about fidelity? Any reason? I currently use only them as an investment tool for my ISAs. Thanks
You’ve saved me tons of time researching all this. Thanks! 😊
Damien - great content. Trading212 S&S cash interest rate is 5.2% - that is an amazing rate compared to the likes of H&L which is tiered around 3.2%.
I thought there must be a catch - there is - cash is invested with a QMMF - so there is no FSCS cash protection(that you’d normally get up to £85k).
What are your thoughts on this?
This is a very important point
Another consideration to make is whether you want the ISA to be flexible, as not all are. I know for instance Vanguard is but not sure about the rest.
That was a really informative yet concise summary- much appreciated. Given the relative complexity of Interactive Brokers, demystifying that site would be a real help if possible. Thanks for your great work.
Cheers Damien. Well played getting this video out so early in the new tax year!
Thanks again for everything you do on here, I know you get paid for doing it, but it must be super-satisfying knowing you are helping so many people out. Just read the comments of how you are positively impacting people’s lives.
I can honestly say, that by switching out of my default pension fund (because of you sir!) I am literally tens of thousands of pounds wealthier than I was before. So… thank you!
And a shout out to the others as well like Ramin, Pete at Meaningful Money, Toby, Chris Bourne et al…
Great video Damo. I've been pretty loyal to AJ Bell as is who provides my LISA but i think for this tax year I'm going to try trading 212 now that i can use multiple ISA providers. This allows me more flexibility.
If you are investing over £100,000 then go for ii. A fixed fee is better than a %age fee.
Zero fee at T212 is even better.
@@george6977depends what you’re doing. Even a small %fee you’re just compounding a fee over time
@@george6977 I think a larger, more well-established company trumps it, though.
I started on T212 since last month and gotta say, its a lot easier than i expected.
Great video and informative. I've only recently started investing and used your videos for guidance. Worth mentioning that there's a 0.5% tax on investing in UK companies in the form of stamp duty reserve tax. If you have my mistake. I hear though that there is pressure on the govt to stop this tax or at least reduce it.
Great timing of video with the new tax year coming up, thank you. Would be interested to see a video on the pros/cons of transferring from a GIA to ISA account.
There are no cons, only pros, it’s a no brainer unless you enjoy paying tax on gains and dividends
Time out of the market is the con. Pros are having investments in a tax wrapper.
Awesome video and great timing ! Can you do an in depth of Trading 212 they sound like my cup of tea !
I'm normally a vangaurd diehard. However I have just transferred my ISA to investengine due to the lower fees. As soon as they have got their SIPP transfer ready I'll also do that too. Funnily enough I'll be using T212 as well just like you Damien.
What's that saying... Great minds think alike? Haha lol.
Great video bud
InvestEngine reigns supreme 💪🏻
Damo you manage to make this topic interesting. Incredible content. Will you be reassessing global index funds soon in a new video?
o7. Can you do a vid on GIA, bed to isa and tax implications. ❤
Really helpful to breakdown and really bring forward the value of the newer cheaper alternatives.
Great video fella. So interesting around the fees… could imagine the amount you’d have paid HL if you were still with them would be a nice chunk…. Makes a huge difference to the pot.
Hey Damien! Love your content recently switched from Fidelity to Trading212 for 2024
Thanks for the comparison it helps to see what the other options are. I’m with fidelity UK for the last 2 years now and I find it good to use (even though it might not be the cheapest). Can you include fidelity in your next comparison video please
0.35% at Fidelity vs 0.15% at Vanguard...
Surprised you didn’t mention Interactive Investor any reason why not? 4.7 on Trust Pilot and very cheap fees for large sums as they don’t charge a % fee. I believe they are the 2nd largest broker in the UK ?
Great video, thankyou as always for great content, for possible future video would be good to know the process to switch ISA to different vendors, currently using Fidelity which seem ok.
Yeah, waiting for this one
Excellent video Damo! I’ve been saving it until I had time to sit down and listen fully and it didn’t disappoint! Thank you so much for all the work you do researching and pulling this together for us all! I started with Vanguard after seeing one of your earlier videos (The Loft Archives), and now I feel I need to explore Trading212 further, particularly with the rules changes to ISA’S. I’m not sure myself. But have you done a walkthrough video before of T212? E.g. setup and purchasing a share? Like what you done previously with Vanguard. As I say, thanks again for all your hard work: the channel’s growth is testament to all your graft Sir, keep it up! 🙌
Thanks for the info! Literally had a new vanguard ISA set up directly to start next week! 212 it is
Thank you!
Woke up looking for isa info and you read my mind 😊
Another highly informative video, Thankyou! Always on the pulse with topics that are relevant for right now. Please could you do a video comparing pension options for self employed people? And maybe a JISA comparison too please? Thankyou!
Great informative content as always! 😁
Great video Damien, you’ve answered my question to perfection,👌🏻 so a big thank you from me. Keep up the fab work you do for us that want to invest but get lost along the way.
These are great & informative videos. Keep posting 💪🏻
The ISA declaration on trading 212 for this new year seems to imply you cannot have another s&s isa other than them. I’ve messaged them for clarification as it seems to be a copy last job from last year
Let us know their reply
They’ve amended the clause now and should have sent out a notification!
Don’t want to be a nerd but ‘cutting the fund fee’ ( re vanguard) was kinda outlawed way back following the RDR regs ( ban on rebates at least … with some complex caveats I won’t go in to ) and modern day might raise ‘consumer duty’ questions. I say ‘might’ as CD is so wide it potentially encapsulates everything and anything!! Operationally it’s messy too. Vanguard would be better off lowering other fees to bring the net cost in line with competitors.
Vanguard could abolish the platform fee for DIY investors to compete with T212 and IE.
Thank you for this video. Very interesting for someone who has no idea and researching
Damien - another great video - idea for a follow up video - what happens and what to expect and deal with when transferring from one stocks & shares ISA to another. For example in specie or is everything sold and cash transferred and which of the providers you discussed today offer what options. Helping to understand how to consolidate, or spread providers, especially with the new ISA rules could be helpful.
Will depend very much on the individual providers used. If your moving to a platform that doesn't have shares for example they will be sold with your current provider. Many funds are not on all platforms whether it's because they are less widely traded or only featured on the platform.
Otherwise investments in the same funds should be switched to the new provider. I would not entirely be sure that a mixed portfolio wouldn't be sold and then the new provider buy back what it can to match value as close as possible.
You might also be charged for leaving but in general a new provider will cover several £100 of fees from your old provider.
Great video thanks.
Any chance of a similar up to date comparison of all the different SIPP providers? Maybe at different balance levels, as the best providers for a small pension may not be the best providers for a larger pension.
Another great video Damo. Any chance of doing a video on your favourite world index funds?
I think you should make it clear that if you choose the higher interest rate option on Trading 212 you lose FSCS protection. That's potentially a very big issue.
Great video Damien, very well explained.. Like you I started with HL and been with them for a few years.. Its a no brainer to start with trading 212, Ive already set up my account and will start investing.. Just need to decide If i should move my investments over to 212..
Keep up the good work😊
Brilliant content as always
I was toying with the idea of having a trading 212 isa alongside my vanguard isa, 100% going to do this now. I like my vanguard isa and dobt want to change things but will use the Trading 212 isa to try the Vanguard All World as i believe with them i can buy it fractionally where I cant on Vanguard (I hope thats correct lol)
I wasn't aware you could do this until now and like you I'll continue to invest into my vanguard isa but this year maybes only give vanguard 10k and put 10k into trading 212 where I could maybes put some into schd or even some individual USA stocks
What are you investing into VG? I have VAFTGAG but wanted to start a 2nd index on T212
Do you feel it's a negative that T212 doesn't offer OEICs/Unit Trusts or are you satisfied that ETFs are sufficient? Would love to hear you do a video comparing pros & cons of: OEICs vs ETFs vs Investment Trusts
Also, do you feel there is much insolvency risk with these new providers like T212 vs more traditional providers: HL, Fidelity, Vanguard etc. Even with FSCS protection, perhaps there is a risk of being unable to access your money for several months in such a scenario. Thanks
Fab video too. I work in finance and really value the content and education you are providing to people. Keep it going! 👏
Love your content. I signed up to your emails, and I've been using the finance spreadsheet you created. My wife and I are trying to find info on whether two people can contribute to one ISA. It's very 50/50. Some say it's fine. Other's say your contributions must be your own.