Newbie investor - very newbie!

Graham_Devon

I would like to firstly thank Dunstonh for his invaluable input on my stocks and shares ISA question a week or two back.

I've now gone a bit further into shares and funds. I'm now at the stage where I would like to invest in funds (medium-high risk).

I have a practice portfolio which I have been monitoring every day for 2 weeks. I have made £33.80 in 2 weeks across the portfolio on £2000. I have taken into account commisions and stamp duty.

I'm not at a stage where having seen how it plays, and seeing how a loser in your portfolio can effect the total portfolio, where I would like to invest £1000 to start with in 2 different funds.

For ref these are Jupiter Monthly Inc Acc and Neptune Russia and Greater Russia.

I am well aware that I could loose the £500 I put in each within a matter of a few days. But I'm also aware that if I had done it 2 weeks ago, I would be up roughly £16 at the moment (though not up when we include commission etc).

So, where do I go from here? As it's all relatively simple, 2 funds, small amount, can I do it myself? Do I need an IFA for a small 1k starter?

Is there anywhere online where I can just push £500 into each fund, log into my account to cash in or deposit more etc? III maybe?

I'm trying to get to grips with it all as I only ever had savings accounts, but looking at my practice 'monopoly' money portfolio, see what I'm missing out on.

Any help would be extremely gratefully recieved. Am I also right in thinking that I can choose any IFA? They don't have to live on my doorstep?

dunstonh

For ref these are Jupiter Monthly Inc Acc and Neptune Russia and Greater Russia.

I have both of those in my own portfolio. Nice contrast.

So, where do I go from here? As it's all relatively simple, 2 funds, small amount, can I do it myself?

Yes you can. Online providers are very often IFAs with a website. In a way you are using the IFA but on direct offer or execution only basis. That method is also available with face to face advisers as well but in your case, an online offering makes sense. Hargreaves Lansdown would be a good place to start. However, they may have a £1000 per fund minimum. There are others available on the IFA front that do £500 per fund minimum but I dont know if any of the online providers do.

Am I also right in thinking that I can choose any IFA? They don't have to live on my doorstep?

You can choose any you like. Just like any other retail business. You go to the one that gives you the best terms and service that you need.

Graham_Devon

Thanks again. I can put more than 1k in, but I don't want to get burnt straight away. I have learnt from previous mistakes (and not all financial) that it's better to start small, learn a bit more and then work up.

From there, I would look at other funds (maybe more longterm ones) and maybe start looking at shares again, it just seems to me that although I have been told these funds can be volitile, shares seem to be a bit worse unless you go for the major players, or basically, get lucky.

I'll take a look at the website you stated and go from there.