What will a financial adviser do for me?

Options
12467…22

Comments

  • badger09
    badger09 Posts: 11,211 Forumite
    First Post First Anniversary Name Dropper
    Options
    jimjames wrote: »
    I think you'll be disappointed if you expect a cash ISA to be any different!

    Cash ISA was suggested only as a way for OP to secure this year's ISA allowance without having to rush into opening S&S ISA in the next couple of weeks;)
  • Jon_W
    Jon_W Posts: 108 Forumite
    Options
    badger09: would you go down the S & S ISA route rather than passive funds?

    Also, Smarter Investing has finally lost me towards the end of Chapter 9. Can anyone recommend any STARTER investor books?

    I'm looking at these:

    1. The DIY Investor - Andy Bell https://www.amazon.co.uk/DIY-Investor-Investments-Financially-Financial/dp/129200066X/ref=pd_sim_14_2?_encoding=UTF8&psc=1&refRID=15AFS10SVA7798TFEQTB

    2. FT Guide To ETFs and Index Funds - David Stevenson

    3. Effective Investing - Mark Dampier https://www.amazon.co.uk/Effective-Investing-simple-wealth-investing/dp/0857194674/ref=pd_sim_14_34?_encoding=UTF8&psc=1&refRID=15AFS10SVA7798TFEQTB
  • dunstonh
    dunstonh Posts: 116,379 Forumite
    Name Dropper First Anniversary First Post Combo Breaker
    Options
    badger09: would you go down the S & S ISA route rather than passive funds?

    That is a bit like asking whether you would buy a car or petrol.

    The S&S ISA is a tax wrapper. One of a number available in the UK. It is not an investment. It doesnt make or lose money. You can place investments within the tax wrapper (or other tax wrappers) or hold them unwrapped.
    Also, Smarter Investing has finally lost me towards the end of Chapter 9. Can anyone recommend any STARTER investor books?

    I think you are beginning to over think it and over complicate it. You dont have a large amount to invest. You are in multi-asset territory rather than bespoke portfolio. You dont want an adviser (and an adviser would likely use multi-asset in your situation). So, why not just stick with multi-asset funds?
    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.
  • justme111
    justme111 Posts: 3,508 Forumite
    First Post First Anniversary Combo Breaker I've been Money Tipped!
    Options
    Just follow my dummy investment post and read some basic stuff online. I must say I was a bit surprised that book got mentioned so much , I did not like it either.
    Dunston, I do not even think he overcomplicates it , he just does not understand the basic vocabulary and actions so getting confused.
    I will use another comparaci!n- investments are like food, can be served in bowls (in ISAS, ISAS can also hold water -cash), in plates - pensions (SIPPs - in a buffet like place where you can pick from huge selection and as a set menu- private pensions) and just scattered on the table (unwrapped investment, just investment). To make investment (eat food) you would need all those vessels to be placed somewhere on the surface - that is your platform. There are any different platforms for people with specific requirements or belonging to specific eating places but in your case, as it is mainstream, there are just a couple most suitable where you could go and pick that food (multi asset fund) from either bowl or plate. Everything else is confusing you and splitting hairs at this stage , as long as you understand investments can basically half in value. N
    The word "dilemma" comes from Greek where "di" means two and "lemma" means premise. Refers usually to difficult choice between two undesirable options.
    Often people seem to use this word mistakenly where "quandary" would fit better.
  • LHW99
    LHW99 Posts: 4,219 Forumite
    First Anniversary Name Dropper First Post
    Options
    You could try a free course from the OU:
    https://www.futurelearn.com/courses/managing-my-investments

    There's one starting on 20th March
  • Jon_W
    Jon_W Posts: 108 Forumite
    Options
    justme111 wrote: »
    Just follow my dummy investment post and read some basic stuff online. I must say I was a bit surprised that book got mentioned so much , I did not like it either.
    Dunston, I do not even think he overcomplicates it , he just does not understand the basic vocabulary and actions so getting confused.
    I will use another comparaci!n- investments are like food, can be served in bowls (in ISAS, ISAS can also hold water -cash), in plates - pensions (SIPPs - in a buffet like place where you can pick from huge selection and as a set menu- private pensions) and just scattered on the table (unwrapped investment, just investment). To make investment (eat food) you would need all those vessels to be placed somewhere on the surface - that is your platform. There are any different platforms for people with specific requirements or belonging to specific eating places but in your case, as it is mainstream, there are just a couple most suitable where you could go and pick that food (multi asset fund) from either bowl or plate. Everything else is confusing you and splitting hairs at this stage , as long as you understand investments can basically half in value. N

    This post is correct dunstonh - not so much over-complicating as not knowing my posterior from my elbow!

    Yes, I know they can fall (markedly); I'm in it for the long haul.

    Thanks, I'll look for that post.
  • mollycat
    mollycat Posts: 1,475 Forumite
    Name Dropper First Post First Anniversary Combo Breaker
    Options
    dunstonh wrote: »
    That is a bit like asking whether you would buy a car or petrol.

    The S&S ISA is a tax wrapper. One of a number available in the UK. It is not an investment. It doesnt make or lose money. You can place investments within the tax wrapper (or other tax wrappers) or hold them unwrapped.



    I think you are beginning to over think it and over complicate it. You dont have a large amount to invest. You are in multi-asset territory rather than bespoke portfolio. You dont want an adviser (and an adviser would likely use multi-asset in your situation). So, why not just stick with multi-asset funds?

    Like I noticed back in post #12 :)

    OP, have you looked at Monevator yet?
  • Snakey
    Snakey Posts: 1,174 Forumite
    Options
    LHW99 wrote: »
    You could try a free course from the OU:
    https://www.futurelearn.com/courses/managing-my-investments

    There's one starting on 20th March
    Intriguing. I could definitely do with a crash course. But I note that "[t]he course is up-to-date and covers the current reforms to UK pensions due to be rolled out in 2015..." - I don't want to waste my time on out-of-date legislation.

    Have you done this course? Is it any good? (Is it just the blurb that hasn't been updated, or is the whole course 3-4 years old?) What do you spend your three hours a week doing - is it reading, or watching somebody talk, or what?
  • Jon_W
    Jon_W Posts: 108 Forumite
    Options
    LHW99 wrote: »
    You could try a free course from the OU:
    https://www.futurelearn.com/courses/managing-my-investments

    There's one starting on 20th March

    Thanks, I'll have a look at that!! :beer:
  • Jon_W
    Jon_W Posts: 108 Forumite
    Options
    mollycat wrote: »
    Like I noticed back in post #12 :)

    OP, have you looked at Monevator yet?

    Sorry Molly, I missed that point. Thanks, just looking at it now. On the first page is 'what is a share?' I feel this is my level! :p;)
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.2K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.7K Spending & Discounts
  • 235.3K Work, Benefits & Business
  • 608.1K Mortgages, Homes & Bills
  • 173.1K Life & Family
  • 247.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards