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Hargreaves Lansdown

MartialArtMan
MartialArtMan Posts: 581 Forumite
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edited 26 August 2020 am31 10:03AM in Savings & investments
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? 
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Comments

  • Barny1979
    Barny1979 Posts: 7,921 Forumite
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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.
  • bowlhead99
    bowlhead99 Posts: 12,295 Forumite
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    edited 26 August 2020 am31 9:06AM
    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.
  • Linton
    Linton Posts: 17,941 Forumite
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    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.
  • ColdIron
    ColdIron Posts: 9,642 Forumite
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    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 result
    Have a look at this but avoid their in-house ready made portfolios, they are expensive
    https://www.hl.co.uk/funds/investing-in-funds
    PS There's no and in Hargreaves Lansdown
  • AnotherJoe
    AnotherJoe Posts: 19,622 Forumite
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    edited 26 August 2020 am31 11:08AM
    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? 
    Do listen to the naysayers, they are "sort of right" (especially with HL's readymade funds, steer clear) but There's no reason you can't take a bigger chance and buy shares and it may be a good learning experience for you. People are too risk averse here.

     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. 
  • thegentleway
    thegentleway Posts: 1,047 Forumite
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    edited 26 August 2020 pm31 3:51PM
    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 giving
  • 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? 
    Do listen to the naysayers, they are "sort of right" (especially with HL's readymade funds, steer clear) but There's no reason you can't take a bigger chance and buy shares and it may be a good learning experience for you. People are too risk averse here.

     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. 
    Genuine question about the 'steer clear ' comment on HL's readymade made funds.
    Is it due to costs ( say on a 20K investment) , or on performance?
  • bigadaj
    bigadaj Posts: 11,531 Forumite
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    Both......
  • dunstonh
    dunstonh Posts: 118,602 Forumite
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    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? 
    Do listen to the naysayers, they are "sort of right" (especially with HL's readymade funds, steer clear) but There's no reason you can't take a bigger chance and buy shares and it may be a good learning experience for you. People are too risk averse here.

     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. 
    Genuine question about the 'steer clear ' comment on HL's readymade made funds.
    Is it due to costs ( say on a 20K investment) , or on performance?
    They are higher cost than a portfolio arranged via an IFA under full service.   The whole point of DIY is to save money.  Not pay more.  

    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.
  • green_man
    green_man Posts: 545 Forumite
    Tenth Anniversary 500 Posts Name Dropper
    edited 26 August 2020 pm31 6:41PM
    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? 
    Do listen to the naysayers, they are "sort of right" (especially with HL's readymade funds, steer clear) but There's no reason you can't take a bigger chance and buy shares and it may be a good learning experience for you. People are too risk averse here.

     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. 
    Genuine question about the 'steer clear ' comment on HL's readymade made funds.
    Is it due to costs ( say on a 20K investment) , or on performance?
    Similarly their ‘wealth list’ Should be viewed as a marketing list rather than a best funds list. (Not to say there aren’t some decent funds on there)
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