Stocks & Shares ISA advice / comparisons?

Jim75

Hi there

I'm fairly new to investing but through my research I've decided that I'd like to invest in a S&S ISA over the long term (10yr +). Reasons being that this will have better returns than sticking the money into a bank account and I'm prepared to take some risk.

I read through the recent article on Investing in Stocks & Shares ISASs on MSE, but found that this advised more on the companies who manage the S&S ISAs (platforms) rather than comparing or giving any choice on the actual ISAs themselves.

I picked out the Evestor platform based on it being good for Newbies like myself but found that I didn't have any choice in terms of the ISA they recommended? It just comes up with the same product / mixture of funds to invest in.

Can anyone offer any advice on choices of S&S ISA product? I have a small amount of £1000 to invest as a lump sum at first and then would look to add to this monthly at around £150/200pm.

Thanks
J

Shashy

It may be worth stepping back and getting to grips with some of the terminology.

An ISA is just a wrapper; think of it as your shopping basket. You can put stuff in it, you can take stuff out, and you don't pay tax on any of it.

The Platform is the supermarket you decide to shop at. You must use that supermarket's shopping baskets; your ISA will be held on the Platform.

What you decide to buy (to put in your shopping basket) is completely up to you, and the choice is huge. Some supermarkets may only allow you to buy their brand, others may allow you to buy a much greater choice. You can buy single shares, funds, and any combination of other products.

The 'better returns' that you mention depend entirely on what you buy and how it performs. The actual ISA and Platform isn't hugely important, especially for a few grand.

dunstonh

I read through the recent article on Investing in Stocks & Shares ISASs on MSE, but found that this advised more on the companies who manage the S&S ISAs (platforms) rather than comparing or giving any choice on the actual ISAs themselves.

There are more than 30,000 conventional investment options and a near infinite number of variations you can have.

Plus, investment recommendations is a regulated activity and websites don't have the regulatory permissions to do such things.

I picked out the Evestor platform based on it being good for Newbies like myself but found that I didn't have any choice in terms of the ISA they recommended?

That is because it is not an investment platform. It is a robo-advice service.

Can anyone offer any advice on choices of S&S ISA product?

That is a regulated activity and only an adviser can do that. People can offer opinions and comments. However, do remember that most people only have experience of one option or two at most. So, they may like their option as they have no experience of others. They may also invest in assets that you are not going to invest in. So, what is right for them may not be right for you.

I have a small amount of £1000 to invest as a lump sum at first and then would look to add to this monthly at around £150/200pm.

In which case, a robo-advice option may not be a bad thing to have.