where do I start

Barmy76

I watched Martins TV slot on investments and decided I might give it a go.  I have around 10k to invest but other than figuring I need a stocks and shares mixed portfolio ISA from the show,  I have no idea where to start.  Ive tried googling and just get tons of companies who want to charge meloads of money for their advice.   

Bostonerimus1

If you want an ISA go with one of the big firms like Vanguard, Fidelity, H&L, Bell etc and invest in a multi-asset fund like one of the Vanguard LifeStrategy Series. But your first choice for tax advantaged investing should be any company pension that you have and before you invest first pay off any high interest debts and save at least 6 months spending into an easy access bank saving account.  Read this and follow this personal finance flowchart.

https://www.bogleheads.org/wiki/Investing_from_the_UK

https://ukpersonal.finance/flowchart/

Alexland

Scottish Widows Share Dealing (formerly known as iWeb) are owned by Halifax/Lloyds Bank and have no ongoing charge and just £5 to buy or sell fund units and free regular investing on share dealing accounts or S&S ISAs. They are a platform that provides the account wrapper, online login and customer service and like a supermarket gives access to thousands of investment options.

https://www.scottishwidows.co.uk/investing/ways-to-invest/share-dealing-services/share-dealing-account.html

Once you have an account you may wish to consider investing in either the Vanguard LifeStrategy or HSBC Global Strategy fund series which are available at various risk levels and can be bought on Scottish Widows and have ongoing charges of around 0.2% pa. Fund charges are for information only - you don't need to do anything as the fees are automatically deducted within the fund assets. They are multi asset funds which means they blend company shares and fixed income bonds.

https://www.vanguardinvestor.co.uk/what-we-offer/life-strategy-products

https://www.assetmanagement.hsbc.co.uk/en/intermediary/capabilities/multi-asset/hsbc-global-strategy-portfolios

You pick the risk level and if you want the Accumulation or Income version depending if you want automatic dividend reinvestment then trade it on Scottish Widows. If the fund manager automatically reinvests the income via  Accumulation units then you do not pay any reinvestment trade charges to Scottish Widows.

The higher risk ones have no or few fixed income bonds and the potential to drop around 50% in a bad market crash which happens every so often and may take years to recover. If you are happy with that higher risk (not that I would advocate it right now) then you might also consider a buying a global index tracker fund which only has company shares and tend to cost less such as Fidelity Index World which you can again buy via Scottish Widows.

https://www.fidelity.co.uk/factsheet-data/factsheet/GB00BJS8SJ34-fidelity-index-world-fund-p-acc/key-statistics

Or if you want an index tracker that also includes emerging markets (China etc) exposure consider the HSBC FTSE All-World fund which you can again buy via Scottish Widows.

https://www.assetmanagement.hsbc.co.uk/en/individual-investor/funds/gb00bmjjjg09?t=2

Then you just leave it for many years to hopefully grow maybe adding more by setting up a regular investing or doing adhoc £5 trades for new contributions but the growth won't be linear like a savings accounts there will be ups and downs. When you get to the final years before intending to withdraw the money then switch to lower risk levels.

Also consider if it would be more efficient to make higher pension contributions.

Eyeful

1. Savings means cash in the bank/building society

    Investing  means you are putting your money at risk; Think shares, bonds, gold etc.

2. Use tax shelters wherever possible.

Pension : you get a tax rebate (you pay no tax going in but on the way out)

Cash ISA,s (Savings account where you pay no tax)

Stocks & Shares ISA's (an investment account where you pay no tax, at least at for now)

3. Have an emergency savings account to cover at least 6 to 12 months of household bills and car/boiler break downs.
You do not want to sell investments when their price may be low.

4. Any money you know you will need within 5 year should be held in either

(a) NS&I, where it is protected 100% as you are loaning  money to the UK Government. 

(b) Bank or building Society Account on the FSCS list where it will be protected up to £120,000.

5. Before investing make sure you have cleared any high interest debt such as credit cards etc.

6. Investing is for money you know you will not touch for at least 10 years.
The longer the better, this is because your odds off winning will be high.

7.  You can make investing as simple or as complex as you like. I suggest keeping it simple

8. SIMPLE INVESTING IN DETAIL (advantages, easy to understand  & implement)

(a) First watch this: https://www.kroijer.com/

(b) Then read these:

 https://monevator.com/passive-fund-of-funds-the-rivals/

https://monevator.com/best-global-tracker-funds/

9. Anything to do with money will have some form of risk attached.
That includes a low risk savings account covered by the FSCS Savings Protection up to £120,000.
Here the risk is inflation this is where the same amount of money buys less as time goes on.
Example:
Skilled working mans wage in 1960 about £1000 per year.
Skilled working mans wage in 2020 about £25000 per year.

10  Consider drip feeding money into the markets over 12 months in equal instalments, this is called " Pound cost averaging".

Nurse2047

There are some great people on YouTube who have taught me lots whom I would recommend such as https://youtube.com/@damientalksmoney?si=P8q3rQrRZ3Kvule9

Also 

great book is Financial Joy by Ken and Mary - will teach you all you need to know to get started. 

london21

Lower cost index funds.

research.

Alexland

london21 said:

Lower cost index funds.

I agree with you on low cost but suggest they need to consider both multi-asset and index funds depending on how much risk they want to take.

For a new investor with £10k it might be a shock to see that crash to £5k with an index fund (and they may even cut their losses and crystalise the loss which would be awful) so they might prefer a smoother rise with a multi-asset fund especially as fixed income yields are attractive again and US share valuations are looking a little optimistic.

Albermarle

Barmy76 said:

I watched Martins TV slot on investments and decided I might give it a go.  I have around 10k to invest but other than figuring I need a stocks and shares mixed portfolio ISA from the show,  I have no idea where to start.  Ive tried googling and just get tons of companies who want to charge meloads of money for their advice.   

You have made a good move coming to this forum. Suggest you have a good read through it.