Stocks & Shares N-ISA; investment supermarkets?

bri160356

Anyone have recommendations/advice/experience on using ‘Investment Supermarket’ companies for ISA Stocks and Shares investments?

I would like to invest some, or maybe all, of my NISA allowance for this year but I really don't know to go about selecting a provider. I've only ever held cash ISA's before.

All advice gratefully received.

Your_Hero

There are many supermarkets and it boils down to preference and cost. Maybe have a read on other posts.

What's prompted you to invest now of a sudden if you've not done it before?

ChopperST

http://monevator.com/compare-uk-cheapest-online-brokers/

Specifically look at the section

"Who is this table aimed at?"

It basically boils down to whether you want to invest in funds, ETF's, individual shares etc. or a mixture as to who you should go with.

bri160356

Your_Hero wrote: »

There are many supermarkets and it boils down to preference and cost. Maybe have a read on other posts.

What's prompted you to invest now of a sudden if you've not done it before?

Hi, many thank for the reply.
I’ve had a trawl through other posts but most of them seem to deal with query’s from people apparently already ‘well-seasoned’ to the ins and outs of Stocks and Shares ISA’s. I, on the other hand, am a complete novice and don’t even know how to get onto the first rung of the ladder.

I have a cash ISA of significant value that now earns the princely sum of 1.5% with Virgin Money.

My wife has just moved her entire ISA savings pot (again of significant value) from Virgin Money into the Coventry B.Soc ISA reward account. It pays 2.5% var with no notice/penalties for withdrawals. Unfortunately I don’t qualify for a Coventry ISA Reward account.:(

So, that’s the reason I’ve been considering a Stocks & Shares ISA.

I’d be quite happy to invest some, or even all, of my cash ISA but I’ve absolutely no idea how to proceed.

Archi_Bald

bri160356 wrote: »

I would like to invest some, or maybe all, of my NISA allowance for this year but I really don't know to go about selecting a provider. I've only ever held cash ISA's before.

You shouldn't start with selecting a provider. You should first have a firm idea what you want to invest in, and then find the provider that gives you the best service at the lowest cost.

As you are new to investing, you should first read up about investments. Provider's sites are sales sites, they aren't giving independent information. https://forums.moneysavingexpert.com/discussion/4752194

latecomer

bri160356 wrote: »

So, that’s the reason I’ve been considering a Stocks & Shares ISA.

I’d be quite happy to invest some, or even all, of my cash ISA but I’ve absolutely no idea how to proceed.

In which case you should start by reading - the monevator site linked below is a good starting point. As others have said, you need to know what you want to invest in first, then you can find the best place to buy.

dunstonh

You get adviser platforms, DIY platforms and some adviser platforms that are retailed in the DIY market but lack the functionality that the DIY platforms have (i.e. they try to emulate but dont quite get there).

The platform is just one part of it. If you go for a fund supermarket then you are looking at around 2000 investments. If you go for a wrap then you are looking at nearly 30,000 investments. You are doing this backwards as you normally look at how you want to invest first then who can facilitate that. Not the other way around.

Ainsley1

All the above good especially about cart and horse!

Give us an idea about pot size, investment time period (any future needs that you see possible) lifestyle you wishes/needs (are you close to retirement, do you want it to provide an income, have you mortgage and debts, are you young and can speculate over a long period what your attitude to risk is, family to support, do you have an emergency fund etc.) and I am sure you will get some ideas of what to do with your pot - only you can decide - and then you can address how to go about it.

I presume you would want to keep it inside an ISA (especially if it is considerable in size) and that should not be an issue. When you have ideas of your aims and needs you can then decide as a next step if you want advice or DIY investment routes - all prior to deciding a provider of that fulfills that route.