Stocks and shares ISA. how to choose.

Does each financial institution provide their own s&s isa aswell as a normal isa? Do they have different incentives to sign up? Do you need to have a normal isa before with them before you can open a s& s isa?

The money is going to be left for between 10-15 years and I want to save 50m.p/m

Thanks for any advice.

Comments

  • Linton
    Linton Posts: 17,066
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    S&S ISAs are a different market to cash ISAs and have a different set of suppliers. Though the major banks may do both - Halifax do, for example.

    There are usually no incentives to sign up. Different S&S ISA companies will charge different fees. You will need to chose which one offers the facilities you need at the best price. S&S ISAs are completely separate from cash ISAs, you do not have to hold one to open the other. Though the more you put in a cash ISA in a year the less you can put in an S&S ISA in the same year.

    What you will need to do is to educate yourself at least in the basics of investing so you can decide which funds or shares to buy.
  • BLB53
    BLB53 Posts: 1,583 Forumite
    If you are not familiar with dealing in stocks & shares, it can be a bit confusing. If you want to go down the diy route and manage your own investments, you will need to open an account with a broker - I use AJ Bell Youinvest (formerly Sippdeal). Some other popular brokers are Hargreaves Lansdown, TD Direct, Alliance Trust, Charles Stanley.

    As Linton says, best to do a bit of research on the subject first - there's a useful article on how to select a broker on the diy investor site http://www.diyinvestoruk.blogspot.co.uk/2013/04/choosing-your-online-broker.html (check out some of the articles on the 'basics' section while there).

    Also https://www.Monevator.com has a good section on comparing brokers http://monevator.com/compare-uk-cheapest-online-brokers/

    Good luck!
  • dunstonh
    dunstonh Posts: 116,041
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    Does each financial institution provide their own s&s isa aswell as a normal isa?

    do you mean cash ISA when you say normal ISA? If so, no. Most do not. Some do but there are none that you would consider competitive.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
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