Help with Stocks/Shares ISA

Maggiemay12

Hi,

I wondered if someone could give me a basic starting position on a stocks and shares ISA please? I have already used my allowance for a cash ISA this year and have £5,000 to invest in a stocks and shares. Having had an hour or so browsing I am really confused as to whether it is something I will have to manage myself or whether I can just put the £5,000 in and let it be managed by the company. I nearly clicked with VirginMoney but started reading this forum and got completely confused...

Thanks

Archi_Bald

You shouldn't do this in a rush since you are making investments when you put money into a S&S ISA.

You need to therefore know about investments. Spend some time to read up - suggested readings here https://forums.moneysavingexpert.com/discussion/4752194

I wouldn't touch any pre-packaged S&S ISA such as the Virgin one because they typically chose from a tiny, in-house, selection and are hugely expensive. Specifically, the Virgin S&S ISA has historically performed very poorly.

bigadaj

It's all personal choice and preference really but broad tracker funds that invest ina range of asset classes are often a good basis for a portfolio, particulalry where the sums are relatively small.

Something like vanguard lifestrategy or black rock consensus offer a geographic sspread and mix of bonds and shares. Nothing guaranteed but a good start fro most.

You'll learn as you monitor and continue your investments and the options available now are far better than they were even five years ago.