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s&s isa
wisey2
Posts: 15 Forumite
Hi
I currently have regular monthly investments with iii for stocks and shares isa - have 20 different funds currently paying £50 each month into each one .
Is this too many ? Would i be better concentrating on 4/5 funds with higher monthly contributions ?
I currently have regular monthly investments with iii for stocks and shares isa - have 20 different funds currently paying £50 each month into each one .
Is this too many ? Would i be better concentrating on 4/5 funds with higher monthly contributions ?
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Comments
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I'd say most likely yes.Stephen Covey once said that "when you teach once, you learn twice". That is the primary reason for my participation on the forums as an IFA.
Although I strive to provide accurate information in my posts, there may be the odd time when I fail. Yes I know it's hard to believe but even Your Hero can make mistakes. Apologies in advance.0 -
I suspect you already know the answer to this.0
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Paying £50pm each into 20 funds would suggest that there is no structure to your portfolio. You are in effect investing pretty much randomly which is not quality investing.
20 funds is massive overkill under your portfolio is in the millions.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.0 -
Assuming you are paying the £1.50 regular investor charge, you are effectively paying a 3% initial charge on each fund. Change this to £200 into 5 funds and the charge would be 0.75%.0
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What is your plan regards asset allocation? Does this plan really need 20 holdings?
Our SIPPs and ISAs tend to have around 10 holdings, and even this is far more than we'd have for smaller pots.I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0
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