Is my NISA account also a brokerage account

[Moneymatters]

Hi,
This is probably a rather silly question.

I have just opened an SBI NISA account. Although it appears to effectively be an SBI brokerage account with NISA capability attached to it.

E.g. It seems I can purchase things outside the scope of NISA. Obviously these will have cap gains exposure.

1/ Is my above understanding correct and is there anything else I should watch for when investing outside the NISA scope?

2/ Is SBI suitable to be my sole brokerage account?

I’m not planning to be very hands on and my beginner level brain makes me think SBI have all the products I might want. I have no plan to invest in individual stocks.

Thanks in advance.

[RetireJapan]

Yes, brokers will ask you to open a regular taxable investment account alongside a NISA account.

One thing to consider is what kind of taxable account you have (if you are going to use it). There are three types:
-tax-reporting and tax deducting (recommended for most amateur investors): 特定講座（源泉徴収あり）this account will calculate and pay your capital gains and dividend taxes for you
-tax-reporting: 特定講座 this account will calculate your taxes but you have to declare and pay them yourself
-ordinary: 一般 this account will not calculate your taxes so you should do it yourself

[Moneymatters]

Many thanks!

We actually did select the first option as I didn't want to worry about forgetting or misreporting.

Just need to decide where to invest this money now.
Thankfully 自粛GW is giving my time to read up on the various investment vehicles out there.
Although I also realize I've just set out on a journey The Proclaimers might be better suited for.

[StockBeard]

Ben pretty much already replied but I wanted to add my 2 cents

1/ Is my above understanding correct and is there anything else I should watch for when investing outside the NISA scope?
2/ Is SBI suitable to be my sole brokerage account?

1) I think your understanding is accurate (Ben already replied). One thing I recommended my wife to do is to have the funds that generate the most dividends be in the NISA as much as possible, since it's tax free. And the rest goes more in the taxable account if she goes over the NISA allowance on a given year.

2) I'd say yes? I mean, longer term you might want to distribute some of the risk e.g. if you believe that SBI could go bankrupt and somehow your funds would get lost in the process, but these events are covered by pretty comprehensive insurance as far as I know... ? More of a question than an answer, to be honest. But I'm a huge proponent of simplicity in investments, and to me that also means reducing the number of financial institutions/accounts I have to deal with.

[Moneymatters]

Ben pretty much already replied but I wanted to add my 2 cents


1) I think your understanding is accurate (Ben already replied). One thing I recommended my wife to do is to have the funds that generate the most dividends be in the NISA as much as possible, since it's tax free. And the rest goes more in the taxable account if she goes over the NISA allowance on a given year.

2) I'd say yes? I mean, longer term you might want to distribute some of the risk e.g. if you believe that SBI could go bankrupt and somehow your funds would get lost in the process, but these events are covered by pretty comprehensive insurance as far as I know... ? More of a question than an answer, to be honest. But I'm a huge proponent of simplicity in investments, and to me that also means reducing the number of financial institutions/accounts I have to deal with.

Thanks for those top tips! SBI permitting, we'll have his'n'hers SBI accounts sometime soon.
Just the thought of having to navigate two different Japanese Broker sites is making me a bit nauseous.