I have maxed out my S&S ISA for this year. I will do the same next April. My question is, is it better for me to add my £20k to my existing portfolio next year or create a new portfolio? In other words, is it better to have two or three ISA’s or just one large one.
Six and two threes.
I imagine that one ISA is easier to manage.
I would have thought that if you were wanting to keep the same proportions then you may as well just add to your existing portfolio.
However, if you wanted to invest in different sectors or you felt that adding to your existing portfolio would over expose you to those investments then you could open a new portfolio.
Of course, if all the investments were in the same account then that gives you the flexibility to could mix and match. So have some of next year’s funds in some of this year’s investments and so in new investments. Although, obviously, you could replicate some of this year’s investments in next year’s account.
I suppose that ultimately it is just an administrative thing. For example, a new account might give you access to a bonus which you would not get by staying in the same account.