Fidelity's FundsNetwork

h5djr

I am considering investing in a shares ISA and wonder if anyone has any views on using Fidelity's FundsNetwork. Not sure which funds yet but I will be investing £4000 this year and next year for both myself and my wife.

dunstonh

FNW is great if you are using an IFA to provide the servicing but no point on going there direct yourself.

h5djr

Would I be better off using someone like Hargreaves Lansdown?

EdInvestor

h5djr wrote:

Would I be better off using someone like Hargreaves Lansdown?

You would.

monki_man

I was wondering if anyone could guide me to the right places on this site or external sites. Basically I went for a financial review with A&L last week, and was quiet interested in a long term investment. My currently situation is saving for a house to buy in the next year or so, decided that Pension will not be an ideal option.

Right now, I have maxed out my Cash Isa, I have a reg saver with Yorkshire (£500/mth), Lloydstsb(£250/mth), Halifax (£250/mth) and HSBC (£250/mth). No money in any instant savings accounts as I make more from match betting. Once the reg saver in HSBC expires I will transfer this into next year’s Cash Isa. The halifax money could potentially be towards Stock and share ISA.

A&L charge between 0.5-1% for FSTE 100 ISA and plus you get taxed 10% on any profits you make. I’ve heard Jupiter and Invesco Perpetual are good. What is the charge for these? Is A&L any good or should I go to another high street bank?

jamesd

You shouldn't go for any high street bank.

A FTSE 100 investment is very likely to perform poorly compared to other investments wherever you get it from.

Jupiter and Invesco Perpetual have many different funds. Some of those are good, some are bad.

Buying a house in about a year is not a long term investment and you should not use stock market investing for it unless you are a high risk investor who will not mind delaying the use of the money by five years if the market drops substantially between now and then. High instant savings accounts is where most people looking to save for up to 1-5 years should be looking.

If you do wish to go for investing instead of saving, using a mini cash ISA at Hargreaves Lansdown will allow 4000 this tax year and another 7000 (or 4000 if you also use a cash ISA) in the new tax year. Commercial property and corporate bond funds are reasonable risk prospects that might make you money without too much risk of falling precipitously. Note the words "might" and "risk of falling". They are important.

LittleJo

Hi,
One good thing with Fidelity is that you can 'phone them up and switch funds for .25%. Very handy when you get things wrong.
Jo

dunstonh

You can switch online with Fidelity. You dont need the phone. The 0.25% is good and is comparable with Cofunds. Although Selestia dont charge anything. Self trade is expensive on switches.

LittleJo

Hi,
I thought that COFUNDS had to be done through an intermediary?
Jo