Advice on ISA's and shares pls 30 September 2007 at 4:45PM in Savings & investments 5 replies 798 views

FabDee

Hi all

I could do with some guidance advice please.

I have just opened an Halifax mini cash ISA, and now I'm thinking about a stocks and shares one as well. I know I can only invest upto £4000 in this tax year in the shares one. My question is, which I think will be one of many over the months, would I be wise to use the bank of scotlands shares and stocks one or look else where? I would be grateful for any help at all as new to all this savings.

thanks in advance

D

Aegis

FabDee wrote: »

Hi all

I could do with some guidance advice please.

I have just opened an Halifax mini cash ISA, and now I'm thinking about a stocks and shares one as well. I know I can only invest upto £4000 in this tax year in the shares one. My question is, which I think will be one of many over the months, would I be wise to use the bank of scotlands shares and stocks one or look else where? I would be grateful for any help at all as new to all this savings.

thanks in advance

D

Are you going to invest in shares, funds or some other product?

If you don't know about funds, they're worth looking into for investments because they diversify the risk of simply investing directly in a company.

dunstonh

would I be wise to use the bank of scotlands shares and stocks one or look else where?

Ask yourself this. Do you want to use the BoS ISA which is limited to their own fund range of around a dozen funds if you are lucky or do you want a whole of market provider which will see you having access to around 800-2000 funds and is almost certainly cheaper than BoS?

Aegis comments on type of investment are important as well as an ISA is just a tax wrapper. Its a container to put investments into. What investments are you looking to put in there? Unit trusts, OEICs, SICAVs, Investment Trusts, shares? you are probably looking at UT/OEIC/SICAV but maybe not.

FabDee

Hi

thanks for the replies so far.

I understand what you say about the BoS only having there own range of funds. I think I will look else where. to be honest, I've never stepped into any savings or investments really at all. so does anyone know what is best for someone like me to do first regarding shares and stocks as I;ve no real clue, all I know is that I put the money in and hopefully it goes up.

don't know anything about funds or other things mentioned would appreciate help or point me in the direction of a good site or company that is good. As I said I will be starting to put cash in cash isa every month, don;t know how much yet and would like to use the other £4000 if I can as well.

thanks in advance

D

jem16

You might want to have a read through this thread and then come back with any questions.

http://forums.moneysavingexpert.com/showthread.html?t=416337

cheerfulcat

don't know anything about funds or other things mentioned would appreciate help or point me in the direction of a good site

FabDee, have a look at the Motley Fool and Incademy. The AIC site is worth a visit, as well.