Stocks & Shares ISA?

MarkCarr203

I recently opened a stocks and shares ISA with Halifax with £500 but I am wondering whether it is a true stocks and shares ISA and would like some advice.

I assumed that taking stocks and shares will give you the ability to pick and choose which companies you would like to invest in, however my Halifax ISA only lets me pick between funds and nothing relating to specific shares in companies. Is this correct and I have just misinterpreted the information?

Many thanks

Mark Carr

dunstonh

Stocks and Shares ISA allows investments into a range of things, including investments which are not stocks and shares!

You can invest in shares, unit trusts, oeics, sicavs, investment trusts and other things.

The Halifax is a tied agent and only allows investments into their own unit trust/oeic range (which is very poor quality).

If you wanted individual shares, then you need a self select ISA and not a unit trust ISA. You can transfer the ISA from Halifax to your chosen self select ISA if that is the way you wish to go. Although you may find that £500 isnt enough for many of them. Some also only deal with MAXI ISAs and not MINI, so you would need to make sure your research considers that.

cheerfulcat

You need to change your Halifax ISA from a funds ISA to a self-select ISA, then you can buy individual shares.