We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Stocks and Shares ISA
Options
Hillwalker
Posts: 62 Forumite
I've used my 3K cash ISA allowance and I'm now looking at investing 3 to 4K in a Shares based ISA. Never done this before so don't know how to get started. I've read all Martin's stuff but have to admit I'm still confused.
I keyed some basic information into a web site "AWDmoneyextra" and they recommended a JP Morgan fund and directed me to Fidelity.co.uk where I would be able to apply. I then got nervous and bombed out.
I'm prepared to invest circa 3 to 4K
In termes of risk based on Conservative, Ballanced, Speculative and very Speculative I would choose Speculative.
Any advice would be most welcome......
I keyed some basic information into a web site "AWDmoneyextra" and they recommended a JP Morgan fund and directed me to Fidelity.co.uk where I would be able to apply. I then got nervous and bombed out.
I'm prepared to invest circa 3 to 4K
In termes of risk based on Conservative, Ballanced, Speculative and very Speculative I would choose Speculative.
Any advice would be most welcome......
0
Comments
-
I use squaregain for my stocks and shares isa, works great and was easy to setup and administer online.
You can choose your own funds and shares from their website once you get your login. I've made 24% since I started mine about this time last year so it has been well worth it
Save save save!!0 -
Squaregain dont exist anymore and are not part of Selftrade. Selftrade is expensive on funds but cheap on shares.I've made 24% since I started mine about this time last year so it has been well worth it
With respect, that has nothing to do with an ISA. It has to do with your chosen investments.
Some comments on your risk:
Never done this before so don't know how to get started.
but have to admit I'm still confused
I then got nervous and bombed out
I would choose Speculative
Do you actually know what that means? Your comments dont suggest speculative. Most new investors who dont know what they are doing and are looking to put all their money into just one fund that is speculative usually end up losing a lot of money and then swearing never to invest in the stockmarket again.
Speculative - if your £4000 dropped to £1200 would you accept that?I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Don't buy direct froM Fidelity or any of the other places that operate the funds. Instead sign up with a fund supermarket liek Hargreaves Lansdown. Then you'll save most of the initial charge and some of the annual charge, while also being able to more cheaply and easily move the investments between different fund management companies.
Speculative investing means that you'll accept a large year on year drop without being greatly worried about it because you know that you're in it for the long term. Pick the drop you'll tolerate for one year and that'll give some idea of how much volatility you'll take.0 -
Selftrade is expensive on funds but cheap on shares.
I have a Selftrade account, and seem to recall them advertising that they weren't charging for funds in an ISA up until the end of May or something? It should be on their web site.
If you do decide to join Selftrade then they were doing referrals which could net you £50, which helps towards any charges. Worth checking the referrals board.Debbie0 -
£1000 fund switch would be £25 with self trade. It costs nothing to £2.50 with other fund supermarkets. A portfolio of 4 funds being rebalanced (vital with speculative funds) could see a charge upto £100.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
-
DOH .... now gone from Speculative to very Conservative..
basically I'll have to accept defeat there just seems to much jargon (dealers, brokers, fund managers) and I don't understand the charging mechanisms either.
Why is so complicated .....:mad:
anyway many thanks for your response..:DSome comments on your risk:
Never done this before so don't know how to get started.
but have to admit I'm still confused
I then got nervous and bombed out
I would choose Speculative
Do you actually know what that means? Your comments dont suggest speculative. Most new investors who dont know what they are doing and are looking to put all their money into just one fund that is speculative usually end up losing a lot of money and then swearing never to invest in the stockmarket again.
Speculative - if your £4000 dropped to £1200 would you accept that?0 -
Why is so complicated .....:mad:
Its not complicated. Its knowledge and ability.
Everybody knows their own jobs and bits of others. I bet you find your job easy but others wouldnt.
What is the maximum drop in a given you would feel acceptable before getting cold feet? -10%, -20% -40% etcI am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Yes I meant selftrade and they do have a special promotion on this month with no fee on buying funds which is great.
Its not complicated at all, I just put my allocation into some of the bigger funds that had a good history during the 3 years when the stock market went down(not saying this is the best way to do it, but it worked for me).
Start small, don't throw all your money into it at once or you will get burned.Save save save!!0 -
Interesting post, I've been thinking about this sort of thing too, and today I had an appointment with Abbey about their multimanager fund. I have several years' worth of cash Isa, a tracker isa (which is doing ok) and now I'm thinking I would quite like to wrap up £1K in a higher risk, more exciting sort of fund. i don't know much but I'm keen to learn, and as I'm on the internet every day I'd like to be able to follow shares and maybe have some input. However the multimanager doesn't let you do this, but it does sound quite good. That's why I'm watching this thread with interest.
I think I might let the experts do it for me this year then have a stab at it myself next year.
I know just what you mean though about the jargon. Why are there so many terms for everything???[SIZE=-4]MF date: Dec [STRIKE]2028[/STRIKE] 2019. Overpayments in 2007=£900, 2008=£1200 2009=23400[/SIZE]0 -
I had an appointment with Abbey about their multimanager fund.
Oh dear. Dont get your advice from a bank. They are tied agents and have limited investment knowledge and ability and product range.
I wouldnt rule out a fund of funds for smaller investors but your bank salesperson is not an expert. Tied agents are not allowed to portfolio build which is why you are getting the multi manager recommended.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.2K Banking & Borrowing
- 253.2K Reduce Debt & Boost Income
- 453.7K Spending & Discounts
- 244.1K Work, Benefits & Business
- 599.2K Mortgages, Homes & Bills
- 177K Life & Family
- 257.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards