Hargreaves and Lansdown Stocks&Shares ISA

Andrew2010

It seems these can be started with only £1000 online compared to say £3000 in Barclays (IIRC). But do you have to invest yourself in funds/bonds etc? In Barclays I believe a fund manager does it for you.

Lokolo

You seem to be confusing things. A fund manager is incharge of a fund. With either Barclays or HL you have to choose the fund.

Person A in charge of Fund A
Person B in charge of Fund B etc.

You still choose either Fund A or Fund B with HL or Barclays.
Barclays will have a limited number of funds in comparison though.

Andrew2010

I thought with HandL you had to choose a portfolio of investments within the ISA?

Lokolo

Andrew2010 wrote: »

I thought with HandL you had to choose a portfolio of investments within the ISA?

You do... but you'd also have to do the same with Barclays.

http://www.barclays.co.uk/BarclaysInvestorZone/Ourinvestmentproducts/P1242560079321

For example:

Theres a number of funds on this page on Barclays. You can see that there are 10 funds to choose from. HL has a lot more than this.

dunstonh

I think the op is assuming that the tied sales rep at barclays will choose the funds. Whereas HL is all DIY. That said, a tied sales rep will just hint in a certain direction or show you a limited range to pick from. Its IFAs that will actually pick the funds for you. Although on small amounts its not really cost effective to use an IFA (although it would probably be cheaper than Barclays).

Andrew2010

Presumably though, if you're only investing £1000 and many of the funds require this as a minimum then you're only going to be able to invest in one?

Lokolo

Andrew2010 wrote: »

Presumably though, if you're only investing £1000 and many of the funds require this as a minimum then you're only going to be able to invest in one?

You can do it monthly, so minimum £50 per month per fund. Set it up, do it for X amount. Then cancel it.

Mikeyorks

Andrew2010 wrote: »

It seems these can be started with only £1000 online compared to say £3000 in Barclays (IIRC). .

If it's a new ISA and you're funding directly rather than by monthly subscription ........ HL also ask for £3000 initially :

http://www.h-l.co.uk/investment-services/isa/frequently-asked-questions

(14th question from the top)

Andrew2010

Lokolo wrote: »

You can do it monthly, so minimum £50 per month per fund. Set it up, do it for X amount. Then cancel it.

You mean like invest in 20 funds £50 each? Wouldn't it be better to invest elsewhere?

Lokolo

Andrew2010 wrote: »

You mean like invest in 20 funds £50 each? Wouldn't it be better to invest elsewhere?

You don't have to do £50, you can do £100 over 10 funds etc. £50 is just the minimum.

Not sure I get what you mean by investing elsewhere?

Andrew2010

Put the whole lot in a single high yield fund for example.