It’s that time of year: ISA Season and I want to help you get the best stocks and shares ISA for 2023/24.
Personal finance is personal so I want to try to find out what is most important for you in a stocks and shares ISA for 2023/24, what things do you look for in a stocks and shares ISA platform and to offer some guidance – not advice – on where you might consider investing your hard earned funds for this next financial year.
Of course none of this is financial advice. As with any investment, the value of your investment can go up or down and you may get back less than you put it. Your capital is at risk.
Table of Contents
Regulation and Protection for stocks and shares ISA for 2023/24
For stocks and shares ISAs that means being authorised and regulated by the FCA alongside FSCS protection of your funds up to £85,000 per account.
Every platform that can offer you an ISA has to meet those obligations. Not all investment platforms have to meet that regulation and protection to take your business. However, since we are talking about the best stocks and shares ISA for 2023/24 then that is a given for this list.
Never let anyone suggest to you that proper regulation is a perk or a feature of your ISA platform – as I say, this is the gold standard your platform is required to meet for offering such services.
That being said, you should make yourself aware of the benefits that offers to you as a consumer of these services.
4 things to look for in a stocks and shares platform for 2023/24
Even with regulation there are many products and many ways to invest in a stocks and shares ISA for 2023/24 and how you feel about different aspects of investing will likely affect your choice of platform. So what should you be considering for your next stocks and shares ISA platform.
Costs and fees in invest in a stocks and share ISA 2023/24
Costs and fees can have a significant bearing on your investments over the long term. Fees could be anything from a few pounds for deposit and withdrawal fees, to hefty inactivity fees or foreign exchange fees.
Other costs could include charges per transaction, that is when you want to buy or sell investments. Costs could be ongoing platform fees as a percentage of the amount of money you have invested.
There are lots of ways you could be charged for having a stocks and shares ISA for 2023/24.
Over a long period of time these charges can really eat into your potential profits so it is wise to try to keep these to a minimum.
Take a look at these two tables.
The first shows what investing £500/month might look like assuming a 7% return per year over a period of 25 years. Of course, nothing is guaranteed, this is just for an illustration.
| Year | Deposits & Withdrawals | Interest | Total Deposits | Accrued Interest | Balance |
|---|---|---|---|---|---|
| 0 | £0.00 | – | £0.00 | – | £0.00 |
| 1 | £6,000.00 | £196.29 | £6,000.00 | £196.29 | £6,196.29 |
| 2 | £6,000.00 | £644.22 | £12,000.00 | £840.52 | £12,840.52 |
| 3 | £6,000.00 | £1,124.53 | £18,000.00 | £1,965.05 | £19,965.05 |
| 4 | £6,000.00 | £1,639.57 | £24,000.00 | £3,604.62 | £27,604.62 |
| 5 | £6,000.00 | £2,191.83 | £30,000.00 | £5,796.45 | £35,796.45 |
| 6 | £6,000.00 | £2,784.02 | £36,000.00 | £8,580.47 | £44,580.47 |
| 7 | £6,000.00 | £3,419.02 | £42,000.00 | £11,999.49 | £53,999.49 |
| 8 | £6,000.00 | £4,099.92 | £48,000.00 | £16,099.41 | £64,099.41 |
| 9 | £6,000.00 | £4,830.04 | £54,000.00 | £20,929.45 | £74,929.45 |
| 10 | £6,000.00 | £5,612.95 | £60,000.00 | £26,542.40 | £86,542.40 |
| 11 | £6,000.00 | £6,452.45 | £66,000.00 | £32,994.85 | £98,994.85 |
| 12 | £6,000.00 | £7,352.64 | £72,000.00 | £40,347.49 | £112,347.49 |
| 13 | £6,000.00 | £8,317.90 | £78,000.00 | £48,665.39 | £126,665.39 |
| 14 | £6,000.00 | £9,352.94 | £84,000.00 | £58,018.34 | £142,018.34 |
| 15 | £6,000.00 | £10,462.81 | £90,000.00 | £68,481.15 | £158,481.15 |
| 16 | £6,000.00 | £11,652.91 | £96,000.00 | £80,134.06 | £176,134.06 |
| 17 | £6,000.00 | £12,929.04 | £102,000.00 | £93,063.09 | £195,063.09 |
| 18 | £6,000.00 | £14,297.42 | £108,000.00 | £107,360.51 | £215,360.51 |
| 19 | £6,000.00 | £15,764.72 | £114,000.00 | £123,125.23 | £237,125.23 |
| 20 | £6,000.00 | £17,338.10 | £120,000.00 | £140,463.33 | £260,463.33 |
| 21 | £6,000.00 | £19,025.21 | £126,000.00 | £159,488.54 | £285,488.54 |
| 22 | £6,000.00 | £20,834.28 | £132,000.00 | £180,322.82 | £312,322.82 |
| 23 | £6,000.00 | £22,774.13 | £138,000.00 | £203,096.95 | £341,096.95 |
| 24 | £6,000.00 | £24,854.22 | £144,000.00 | £227,951.17 | £371,951.17 |
| 25 | £6,000.00 | £27,084.67 | £150,000.00 | £255,035.85 | £405,035.85 |
The second shows the same investment of £500/month might look like assuming a 7% return per year over a period of 25 years but this time with a 2% annual charge on the account.
| Year | Deposits & Withdrawals | Interest | Total Deposits | Accrued Interest | Balance |
|---|---|---|---|---|---|
| 0 | £0.00 | – | £0.00 | – | £0.00 |
| 1 | £6,000.00 | £139.43 | £6,000.00 | £139.43 | £6,139.43 |
| 2 | £6,000.00 | £453.53 | £12,000.00 | £592.96 | £12,592.96 |
| 3 | £6,000.00 | £783.71 | £18,000.00 | £1,376.67 | £19,376.67 |
| 4 | £6,000.00 | £1,130.77 | £24,000.00 | £2,507.44 | £26,507.44 |
| 5 | £6,000.00 | £1,495.60 | £30,000.00 | £4,003.04 | £34,003.04 |
| 6 | £6,000.00 | £1,879.09 | £36,000.00 | £5,882.13 | £41,882.13 |
| 7 | £6,000.00 | £2,282.20 | £42,000.00 | £8,164.33 | £50,164.33 |
| 8 | £6,000.00 | £2,705.93 | £48,000.00 | £10,870.26 | £58,870.26 |
| 9 | £6,000.00 | £3,151.34 | £54,000.00 | £14,021.60 | £68,021.60 |
| 10 | £6,000.00 | £3,619.54 | £60,000.00 | £17,641.14 | £77,641.14 |
| 11 | £6,000.00 | £4,111.70 | £66,000.00 | £21,752.84 | £87,752.84 |
| 12 | £6,000.00 | £4,629.03 | £72,000.00 | £26,381.86 | £98,381.86 |
| 13 | £6,000.00 | £5,172.83 | £78,000.00 | £31,554.70 | £109,554.70 |
| 14 | £6,000.00 | £5,744.45 | £84,000.00 | £37,299.15 | £121,299.15 |
| 15 | £6,000.00 | £6,345.32 | £90,000.00 | £43,644.47 | £133,644.47 |
| 16 | £6,000.00 | £6,976.93 | £96,000.00 | £50,621.40 | £146,621.40 |
| 17 | £6,000.00 | £7,640.86 | £102,000.00 | £58,262.26 | £160,262.26 |
| 18 | £6,000.00 | £8,338.75 | £108,000.00 | £66,601.01 | £174,601.01 |
| 19 | £6,000.00 | £9,072.35 | £114,000.00 | £75,673.36 | £189,673.36 |
| 20 | £6,000.00 | £9,843.48 | £120,000.00 | £85,516.83 | £205,516.83 |
| 21 | £6,000.00 | £10,654.06 | £126,000.00 | £96,170.89 | £222,170.89 |
| 22 | £6,000.00 | £11,506.11 | £132,000.00 | £107,677.01 | £239,677.01 |
| 23 | £6,000.00 | £12,401.76 | £138,000.00 | £120,078.76 | £258,078.76 |
| 24 | £6,000.00 | £13,343.23 | £144,000.00 | £133,421.99 | £277,421.99 |
| 25 | £6,000.00 | £14,332.86 | £150,000.00 | £147,754.85 | £297,754.85 |
After 25 years there is a different of nearly £107,000! Can you afford to leave that much on the table?
Fees might well be worthwhile and we will talk about fees in the context of what you get for those fees in terms of services on a platform, but it is important to note just how important fees are to growing your wealth.
Cheapest stocks and shares ISA for 2023/24
| Image | Product | Features | Price |
|---|---|---|---|
 |
| Visit InvestEngine | |
 |
| Visit Trading212 |
Assets available on the platform
What you want to invest in is going to be a huge factor on finding the best stock and shares ISA for 2023/24 as far as your strategy goes. All platforms are not made equal. Some offer buying and selling individual stocks. Some offer their own funds. Some offer a mix or a choice. Some will offer ethical investing products and some will not.
It’s important to have a think about how you want to invest, why you are getting into investing in the first place and where it is you will be happy dropping your money and letting it work for you.
From that point of view you might be interested in considering index investing compared to picking your own assets in this article or the video below.
For me, I’m all about long term investing in cheap index trackers. Generally speaking I’m not interested in buying specific shares or trying to trade anything. Set and forget is the best approach for my style and so this strategy has led me to find the best stocks and shares ISA for 2023/24 for my personal circumstances.
Best choice of assets for stocks and shares ISA for 2023/24
Trading 212 has a huge range of assets to choose from. As does Hargreaves Lansdown. Trading 212 is a a cheaper option, but perhaps still a relatively new-comer compared to the established H&L.
| Logo | Platform | Features | Link |
|---|---|---|---|
|
| Visit Trading212 | |
 |
| Visit Hargreaves Lansdown |
Self managed or managed investments
There is a lot of information out there about what might make the best stocks and shares ISA for 2023/24. There is a lot of good advice (in my opinion) and there is a lot of bad advice.
Many will tip particular companies, whether they be long established powerhouses or some will suggest trading shares of smaller more volatile establishments.
The truth is when trying to put together a portfolio for a stocks and shares ISA the information can be overwhelming and it’s often hard to discern between the folks who are offering genuine insight based on experience or those just shilling their favourite stocks and shares.
Managed Investments
You might be in the position of knowing that you want to invest but not quite sure how to invest. Managed investments let you leave assembling the best stocks and shares ISA for 2023/24, catered specifically for you, to other people.
This might be in the form of investing in a managed fund, where you simply invest into a pot and leave the buying and selling of assets to the fund manager. These typically charge a higher fee than self managed, but nonetheless, those fees might be worth it. We touched on it earlier… fees aren’t always bad if the service is right.
A good fund manager might save you from making some big mistakes if you don’t know what you’re doing, or you just want a hands off approach for your stocks and shares ISA for 2023/24.
Best managed stocks and shares ISA for 2023/24
Rather than tailored personal investments, I have opted to list a few of the best RoboAdvisors out there.
This is where the platform will ask you questions about your risk tolerance, how long you want to invest, how much, etc. With this information they will suggest a product and then manage that product for you. These suggestions are not tailored advice and it’s important you are comfortable with making financial decisions.
Generally speaking they work pretty well, giving due attention to the customer’s answers and creating a portfolio to match their preferences.
| Image | Product | Features | Price |
|---|---|---|---|
 |
| Visit &me | |
|
| Visit MoneyFarm | |
|
| Visit InvestEngine |
Self managed investments
If you know what you want from your stocks and shares ISA then there is probably no need to go for the managed route. Often the simplest strategies are the best. I’ve seen folks invest in an all world tracker and just leave it at that.
One ETF tracking the world’s markets and just adding to the pot for that one.
Such a simple strategy doesn’t need a fund manager. Just a good ETF like VWRL from Vanguard.
Others like to pick their own stocks and shares and look after all the buying and selling themselves.
That’s great – there isn’t a single correct way to do it.
It’s a personal thing.
To get the best stocks and shares ISA for 2023/24 it must be built up to your tastes and to align with your goals. Costs, choice and management are all big decisions.
Best self-managed stocks and shares ISA for 2023/24
| Image | Product | Features | Price |
|---|---|---|---|
|
| Visit InvestEngine | |
|
| Visit Trading212 |
Reputation
When it comes to investing and money in general, reputation goes a long way. Investors want to know their money is safe. As I mentioned before all ISA providers have to toe the line in terms of their regulatory obligations. The regulators and the guarantees will kick in when something goes bad, like your platform going under for example.
However, we still don’t want that to happen to your stocks and share ISA obviously!
So there is some merit in trusting a provider who has been providing stocks and shares ISA services for long periods of time.
I’m talking decades of investing experience.
You would hope that the big and long established brands are going to be around for a long time to come. Solid platforms that have stood the test of time. Profitable companies that know what’s going on.
As a result, this will hopefully translate to a good product and good investing experience for you.
Most reputable stocks and shares ISA for 2023/24
| Logo | Platform | Features | Link |
|---|---|---|---|
 |
| Visit Vanguard | |
|
| Visit Hargreaves Lansdown |
So which factor is the most important for your ISA?
The best stocks and shares ISA for 2023/24 is the one that suits you the best.
I would strongly urge you to consider the four factors above when coming to settle on a platform for your stocks and shares ISA for 2023/24.
The links on this site are not the only options available, but the ones that impressed me most in the various categories. To see how I am investing right now, check out this article next.
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