Advice, comments please,newbie

Peelerfart

Had meeting with my ifa today, and apparently I'm a medium risk kinda guy not a low. Which is kinda nice!

He has recommended a Prudential stocks shares isa,
Putting in £20k in each year for the next two,as I haven't used my annual allowance yet

Thing is each transaction will attract 3% commission. I know the guy has to make a living but £600x2=ouch!

Is this the norm? Seems expensive to me

chiang_mai

Take his advice under consideration, then get independent advice from a further two or three IFA's, it doesn't cost anything. When all the advice is in, weigh it up and decide which way to go, then........do it yourself.

Alexland

I think you know what to do.... Most people don't need too much advice for a S&S ISA.

Peelerfart

Alexland wrote: »

I think you know what to do.... Most people don't need advice for a S&S ISA.

I'm not without experience in the murky world of numbers. Think I shall read and learn.

Thank you all.

bigadaj

chiang_mai wrote: »

Take his advice under consideration, then get independent advice from a further two or three IFA's, it doesn't cost anything. When all the advice is in, weigh it up and decide which way to go, then........do it yourself.

They won't normally provide advice, of any detail at least, during the free consultation. It's normally an assessment of risk profile and likely needs and a suggestion of how targets might be achieved, they'd normally want some money before making any firm recommendations; and apparently they'd be right to do so.

Peelerfart

Bit the proverbial yesterday and slung £10k into a stocks and shares isa via Charles Stanley. I know it's probably not a great deal to some of the seasoned guys here but.

I came here via the DFW board, the MFW board, and the loans board.
Damn! It's a squeaky bum feeling when you press that button.

Alexland

Have you decided on a investment? I think my younger wife now wants to retire before me...

chiang_mai

What I've suggested is that the OP understands the look and feel of the various approaches and not steal detailed portfolio construction! Who knows, he may come across an IFA with thinking that appeals and the right chemistry, alternatively he may decide he is able to do it all himself which is an approach I would support.

Peelerfart

@alexland, yes I've split the investment into 2, 1 low risk and the other not so low. Just a first toe in the water. I'm gonna sit back and monitor now, see how they do. I can't really comment on your wife's retirement Wannabe status
But it beats the hell out of work ��
@ Chiang Mai, to be fair to your good self it's comments like yours that can strip away any mystery and doubts that a first time investor,like me, had. I'm no expert, but hopefully my choices will be sound and I might put a little more in.

Thanks both

Startup1985

Have you considered putting a small amount into P2P lending? 3-10% is easily achievable on a variety of platforms.