Just wanted to sense-check that I’m understanding the structure of Invest Enginer correctly.
I opened a S&S ISA and invested £100 into Vanguard FTSE All-World. The app shows an “ISA portfolios” section with the Vanguard fund inside it, which makes it look like the ISA and the investment are two separate things.
My understanding is that the Vanguard fund is held within the S&S ISA, and that my £50/month savings plan investing directly into the fund is the correct setup if I want all contributions to go to this fund (rather than paying into an ISA cash balance first).
Is that how InvestEngine is intended to work? The hierarchy in the UI isn’t completely clear to me. The UI makes it feel like you have 1) a S&S ISA 2) and separately an investment; rather than an ISA containing an investment.
In that screenshot, you have named an entire portfolio “Vanguard FTSE All World”. The actual investment - the ETF of the same name - is inside that portfolio. It would make more sense to rename that to “ISA Portfolio 1” or something.
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The “ISA Portfolios” section is your S&S ISA ‘wrapper’.
Inside (underneath) that, you can create as many seperate portfolios as you want that all live inside this S&S ISA wrapper.
Within each portfolio are your chosen investments (ETFs).
Eg. You might have a main portfolio for long term wealth building with an All World equity ETF inside it like yours, and a seperate portfolio that has some lower risk ETFs inside because it is shorter term savings for a house deposit that you wish to keep seperated.
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As things stand for your current setup, you have a savings plan set up for that individual portfolio and it will work as you expect (and yes it is inside your ISA wrapper). Your money will go straight into that portfolio and, if you have Auto Invest turned on, will be invested into the ETF that is inside at the next trading window without you having to do anything.
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Have a play around with the UI; If you click on the Create Portfolio button near the top, choose ‘ISA’ again and choose some random ETFs, you can make another portfolio. You don’t have to commit any money and can delete it straight afterwards, but you will possibly better understand the visual hierarchy this way, over reading my long ramble.
