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Hargreaves Lansdown

MartialArtMan
Posts: 581 Forumite


So I'm new to stocks and shares but have some excess money I'd like to invest. I've chosen to go with Hargreaves Lansdown as they're a big reputable company that I feel I can trust.
I'd like to know how it works though; I'm thinking that I open a stocks and shares ISA, deposit money into it, then choose with whom I invest my money with ie which shares I buy with the money I deposited?
I'd like to know how it works though; I'm thinking that I open a stocks and shares ISA, deposit money into it, then choose with whom I invest my money with ie which shares I buy with the money I deposited?
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Comments
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You could have a SIPP but this ties up the money as a pension or lump-sum pay out in the long-term.1
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MartialArtMan said:I've chosen to go with Hargreaves and Lansdown as they're a big reputable company that I feel I can trust.
I'd like to know how it works though; I'm thinking that I open a stocks and shares ISA, deposit money into it, then choose with whom I invest my money with ie which shares I buy with the money I deposited?
An ISA is a tax protected investment account.
You put your money in the account.
Then use the money in the account to buy whichever investments you want to buy - e.g. investment funds, or shares in individual companies are both things you could buy, but shares in individual companies are riskier.
The name of the company isn't Hargreaves and Lansdown. So, it would be best to apply more attention to detail when you are researching your investments than you did when you were talking about the investment platform provider that you chose.4 -
The process is as you describe.
I suggest you invest in funds rather than individual shares as you will be spreading your risk over hundreds of individual shares and wont lose a large % of your investment if one company goes bust.3 -
MartialArtMan said:I'd like to know how it works though; I'm thinking that I open a stocks and shares ISA, deposit money into it, then choose with whom I invest my money with ie which shares I buy with the money I deposited?That's it in a nutshell but as a novice you don't want to buy company shares, too risky and requires a lot of research. At this stage you should would be better served with collective investments such as funds and ideally a single cheap multi-asset. Not as exciting but likely to give you the best resultHave a look at this but avoid their in-house ready made portfolios, they are expensive
https://www.hl.co.uk/funds/investing-in-fundsFamiliarise yourself with the charges
https://www.hl.co.uk/investment-services/isa/savings-interest-rates-and-chargesPS There's no and in Hargreaves Lansdown3 -
MartialArtMan said:So I'm new to stocks and shares but have some excess money I'd like to invest. I've chosen to go with Hargreaves Lansdown as they're a big reputable company that I feel I can trust.
I'd like to know how it works though; I'm thinking that I open a stocks and shares ISA, deposit money into it, then choose with whom I invest my money with ie which shares I buy with the money I deposited?
Depends how much money you are putting in and for what purpose. Is this your life savings you were going to buy a house with in a couple of months time, your 16 year olds university fund, a relatively small sum you can afford as a punt, or a long term calculated better way to accumulate wealth over say 20 years?Also, funds are just one form of collective investment there are also ITs and ETFs which may be worth considering.2 -
Yep you've got it. If you want a bit more information, have a look at: https://www.moneysavingexpert.com/savings/cheap-online-sharedealing/
Agreed about buying individual shares; it's like putting it on the roulette table: don't do it with sums you can't afford to lose.
No one has ever become poor by giving1 -
AnotherJoe said:MartialArtMan said:So I'm new to stocks and shares but have some excess money I'd like to invest. I've chosen to go with Hargreaves Lansdown as they're a big reputable company that I feel I can trust.
I'd like to know how it works though; I'm thinking that I open a stocks and shares ISA, deposit money into it, then choose with whom I invest my money with ie which shares I buy with the money I deposited?
Depends how much money you are putting in and for what purpose. Is this your life savings you were going to buy a house with in a couple of months time, your 16 year olds university fund, a relatively small sum you can afford as a punt, or a long term calculated better way to accumulate wealth over say 20 years?Also, funds are just one form of collective investment there are also ITs and ETFs which may be worth considering.
Is it due to costs ( say on a 20K investment) , or on performance?0 -
Both......1
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petelondon said:AnotherJoe said:MartialArtMan said:So I'm new to stocks and shares but have some excess money I'd like to invest. I've chosen to go with Hargreaves Lansdown as they're a big reputable company that I feel I can trust.
I'd like to know how it works though; I'm thinking that I open a stocks and shares ISA, deposit money into it, then choose with whom I invest my money with ie which shares I buy with the money I deposited?
Depends how much money you are putting in and for what purpose. Is this your life savings you were going to buy a house with in a couple of months time, your 16 year olds university fund, a relatively small sum you can afford as a punt, or a long term calculated better way to accumulate wealth over say 20 years?Also, funds are just one form of collective investment there are also ITs and ETFs which may be worth considering.
Is it due to costs ( say on a 20K investment) , or on performance?
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.4 -
petelondon said:AnotherJoe said:MartialArtMan said:So I'm new to stocks and shares but have some excess money I'd like to invest. I've chosen to go with Hargreaves Lansdown as they're a big reputable company that I feel I can trust.
I'd like to know how it works though; I'm thinking that I open a stocks and shares ISA, deposit money into it, then choose with whom I invest my money with ie which shares I buy with the money I deposited?
Depends how much money you are putting in and for what purpose. Is this your life savings you were going to buy a house with in a couple of months time, your 16 year olds university fund, a relatively small sum you can afford as a punt, or a long term calculated better way to accumulate wealth over say 20 years?Also, funds are just one form of collective investment there are also ITs and ETFs which may be worth considering.
Is it due to costs ( say on a 20K investment) , or on performance?3
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