share accounts- which one for me?

Sapphirecruz

Hi, 

Hoping someone can help me, I have very little experience with shares.  I received some shares from my employer, but when I leave their employment 8 years ago the shares moved to an account in my name. The company was the share centre, it's now Interactive Investor.  I don't trade and I just want somewhere to hold my shares and maybe buy more shares with my dividends.  They are charging me £10 per month and I just leave them from year to year. 

I'm assuming I'm on the wrong type of account or with the wrong company.  I contracted the last year and they said they couldn't advise me, so I'm not sure where I can get assistance.  I no nothing about share or accounts for holding shares, are there different types?  is there a website that compares best platforms for types of needs of customer?  Any assistance would be appreciated. 

Thanks

eskbanker

Sapphirecruz said:

is there a website that compares best platforms for types of needs of customer?

Yes: https://monevator.com/compare-uk-cheapest-online-brokers/

ColdIron

Having all of your investments in the shares of a single company is quite a high risk strategy. You don't even have the kudos of supporting your employer any more

If you didn't own them today would you buy them now to the exclusion of any other company shares or other type of investment? If the answer is no you might consider selling them and investing in something more diverse, which may also pay dividends

Beddie

Just in case you want a nice simple answer, Hargreaves Lansdown do not charge to hold shares in their trading account.

https://www.hl.co.uk/investment-services/fund-and-share-account

Yes, there are lots of alternatives, but to just hold some shares it's as good as any other.

Although as Coldiron above says, you could consider selling and investing in something like a unit trust.But that's another story.

Audaxer

Sapphirecruz said:

I'm assuming I'm on the wrong type of account or with the wrong company.  I contracted the last year and they said they couldn't advise me, so I'm not sure where I can get assistance.  I no nothing about share or accounts for holding shares, are there different types?  is there a website that compares best platforms for types of needs of customer?  Any assistance would be appreciated. 

Thanks

It is very risky holding shares in a single company. You would be better holding a low cost globally diversified index fund or a multi asset fund, which as well as shares holds bonds and can also hold property. 

Before making any decisions it is best to learn about investing on sites like Monevator, as well as browsing through this forum and the Pensions forum, searching topics like for example: index funds, multi asset funds, risk tolerances, platforms, S&S ISAs and SIPPs to name a few.