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opening a socks & shares ISA
masco1
Posts: 31 Forumite
I have only ever saved in a cash ISA but thought I might use my remaining £5100 allowance and invest in a stocks & shares ISA.
I am a bit unsure as to how to go about this. I can put £1000 per month into this and thought about buying Investment Trust shares, e.g. F&C investment Trust.
Questions:
1) Do I have to open the ISA with F&C and if not, who is the best to do this with?
2) Is it best to save the £5100 and buy all together to save on trading fees/commission? I assume that if the shares are bought regularly each month, this would cost more.
I am a bit unsure as to how to go about this. I can put £1000 per month into this and thought about buying Investment Trust shares, e.g. F&C investment Trust.
Questions:
1) Do I have to open the ISA with F&C and if not, who is the best to do this with?
2) Is it best to save the £5100 and buy all together to save on trading fees/commission? I assume that if the shares are bought regularly each month, this would cost more.
0
Comments
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Investment Trust shares are just like the shares of any other company, so you should be able to hold them inside any ISA. I can't really advise on a good share ISA. As you've mentioned, dealing charges can be a problem.
Another option for small value investors (I'm including myself here) is unit trusts bought through a discount broker such as Hargreaves Landsdown. They're a similar beast to investment trusts, but the number of units isn't fixed, and trading always happens the day after you ask for it. HL refund the initial commission on most funds, and you can invest from £50 per fund per month.0 -
2) Is it best to save the £5100 and buy all together to save on trading fees/commission? I assume that if the shares are bought regularly each month, this would cost more.
Investment trusts can but unit trusts wont.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 -
I know its flippant - and I realise it's only a typo - but I love the idea of investing in 'socks'....... nice woolly ones as the weather gets colder !!
:rotfl::rotfl::rotfl:0 -
The remnants of my HBOS (now LBG) shares would just about kit me out with a few pairs of socks.steveksullivan wrote: »I love the idea of investing in 'socks'....... nice woolly ones as the weather gets colder !!0 -
From a quick look it seems the F&C ISA charges you £60pa1) Do I have to open the ISA with F&C and if not, who is the best to do this with?
Better to set up a S&S ISA with somebody cheaper and just buy it through them.
Having said that my S&S ISA is with X-O but bizzarely although they offer 14 F&C options the main "Investment Trust" is not one of them. Not sure why not.
Try the other cheap brokers (eg iii) but just check they let you buy what you want before signing up.0
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