Investment advice needed please

Albermarle

I might enlist the help of a financial advisor to get me started though, as I've now realised how little I currently know 😬

Normally it is recommended to go to an Independent Financial Advisor , if you feel the need for some hand holding. However an IFA is unlikely to be interested due to the sums involved.

A financial advisor linked to your bank ( for example) might be interested. but they can only recommend their own ( often expensive ) products.

There is a gap in the market for those seeking financial advice for more modest sums . The best option is just to get better informed yourself . The next best option can be to use a Robo advisor platform - In essence these are very simple investment platforms that guide you to an investment via a series of questions . However what they do not do is look at your overall situation and so would not be able to answer your original question of where to put excess funds . In pension, Lisa etc 

misss1234

Yes my pension is through salary sacrifice, so would this be more worthwhile to increase than a LISA because I'd also save in NI?

What sort of questions do they ask when setting up a stocks and shares ISA? Do they expect you to pick a specific company or is it more to do with how comfortable you are with risking your money? If the latter, what are people's thoughts on this? Do they give you an estimated growth percentage forecast based on what S&S you pick? (Assuming it goes to plan of course).

Apologies for all of the questions, and thanks so much for all of the help so far! 😊

Albermarle

Yes my pension is through salary sacrifice, so would this be more worthwhile to increase than a LISA because I'd also save in NI?

Yes the salary sacrifice would tend to tilt things more in favour of the pension ,

What sort of questions do they ask when setting up a stocks and shares ISA? Do they expect you to pick a specific company or is it more to do with how comfortable you are with risking your money?

Presume you are talking about a S&S ISA with a Robo advisor like Nutmeg ?

They will ask you questions about your age , objectives and assess you risk tolerance. Then will suggest a fund from the limited number they have on offer.

Alternatively many ISA providers just offer a basic range of products, with good explanations of what they are . You do have to pick yourself but the charges will be cheaper than a Robo advisor. You could have a look here for example .

Multi Asset Funds | Ready-made Portfolios - HSBC UK