Recommend me an S&S ISA

MoneySaver2011_2

I did a search on the forum and found a really useful thread listing all the different Stocks and Shares ISA providers, and their benefits/drawbacks.

That thread is now out of date as it was for 2011/2012 I believe? Is there/will there be a similar one for this upcoming tax year?

If not, can someone recommend me an Stocks and Shares ISA provider? I'm a total beginner with this sort of stuff and I'm just being overwhelmed with choice.

I don't know whether to choose a tracker, a Fund from a supermarket or one where everything is managed for me etc.

If this helps, I'm usually fairly cautious and risk adverse when I try something new. My knowledge of the stock market isn't great, but I'm willing to spend the next few weeks before the new tax year researching and learning as much as I can.

I have a pot of around £2000 to invest which is currently sitting in a cash ISA.

I have done a bit of research so far and I'm torn between Alliance Trust Savings (which seems fairly reputable and has won awards) and several Funds from the FUnd supermarket.

Thanks

innovate

The first few posts of https://forums.moneysavingexpert.com/discussion/3153942, although originating from 2011, are being kept up-to-date. These are just lists of platforms, not the portfolios you can have on those platforms.

You would normally start with selecting your portfolio. http://monevator.com/category/investing/passive-investing-investing/ might be of help with that. When you know your portfolio, you can then select the most appropriate platform.

It is important that you decide the composition of your portfolio yourself, rather than having a few names thrown at you by a bunch of strangers on the internet.

BLB53

My knowledge of the stock market isn't great, but I'm willing to spend the next few weeks before the new tax year researching and learning as much as I can.

Its probably worthwhile to take a little time to become a bit more familiar with investing.

There are several good (free) sites - www.fool.co.uk also www.retirementinvestingtoday.com has some useful articles, also www.miserlyinvestor.com - as well as Monevator.

Also worth reading a couple of books - see RIT books tab but 'Slow & Steady Steps..' will give you the basics (and is cheap!)

So far as brokers, I personally use Sippdeal for both isa and sipp and would recommend them.

Good luck!

xmodz

Iv tried both iwebsharedealing and share centre for the isa account.

share centre have a good format for their website and their customer service is excellent,

iweb is cheap and efficient,

jimjames

I recommend Hargreaves Lansdown for their excellent web interface for inexperienced investors and Cavendish for more confident investors or web users prepared to navigate the more clunky site to get the best discounts.

Unlike cash ISAs the availability & recommendations for S&S ISAs generally do not vary by tax year.

MoneySaver2011_2

Thanks for the responses so far. All very helpful. The Hargreaves and Lansdown offer looks very attractive, especially with the platform they use and amount of funds you can invest in.

I've also been looking at the Co-Funds platform that MoneySupermarket use. Can anyone feedback on this?

MoneySaver2011_2

Just doing further research. As a newbie to all this, my best route is probably to go for a Multi-manager fund. Highly diversified (lower risk) and most of the work done for me by the manager of the fund. Would I be right in saying this?

innovate

Deleted_User wrote: »

Just doing further research. As a newbie to all this, my best route is probably to go for a Multi-manager fund.

Sorry, not sure how you got to that conclusion?

Multi-manager fund means you pay multiple managers. Is this what you want to do? Not saying that this would be wrong, but why would you?

MoneySaver2011_2

I probably worded that wrong, but as an individual who prefers lower risk, surely a highly diversified route is the way forward? Understandably this would mean more costs incurred for the reasons you said though.

innovate

jimjames wrote: »

I recommend Hargreaves Lansdown.......

JJ, what association do you have with HL?

I am a HL customer myself, just don't feel compelled to recommend the HL platform at every conceivable moment. The crucial decision is what you invest in, not how (the 'how' being the likes of HL). HL might have been the right platform for me at the time. It may or may not be now, for me, or for anyone else.

There are plenty of platforms out there. The best choice of platform very much depends on what your portfolio looks like. HL or whoever are just the vehicle for your investment, they do not add any intrinsic value to you investment.

Also, you shouldn't let your platform provider to influence your choice of portfolio. E.g. the HL "Wealth 150" isn't necessarily anything that works in your favour, but you would ask yourself why HL keep promoting it.

dunstonh

As a newbie to all this, my best route is probably to go for a Multi-manager fund. Highly diversified (lower risk) and most of the work done for me by the manager of the fund. Would I be right in saying this?

There are multi-manager funds across the risk profile. Just by being MM doesnt make it lower risk.

Also, be careful what MM you go for. Look at the TER, not the AMC as some have big differences. Also, there are different types of MM. They are not all the same in how they build their list. Some can be very focused on limited sectors.