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MOVING STOCKS & SHARES PROVIDER
Hello,
I have had a SS ISA with H&L for many years, some shares with Carnival (used to do a few cruises) also Royal Mail (which I just see have been sold. Probably my fault because I rarely check my emails). I also invested £100 recently in iShares physical Gold (self managed) I am looking to put them all into one (I also opened an account with 212 which I have not used) mainly because I have no clue what I am doing so am struggling to work out how to even 'buy gold', and because I hear H&L are expensive. Ideally just one provider for all investments and probably not self managed so I don't have to do anything! Any advice will be appreciated, thank you Debz
Comments
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Go for it. We've all been tempted to fiddle with things but usually come to the realisation that we can't beat the experts. Once you've decided on a platform for everything, initiate an ISA transfer with them, and they will contact your previous providers and move your ISAs all into one place. If there are any assets not in an ISA they will need to be sold and re-bought if you want them inside the ISA.
Will you be making additional contributions, or are you just looking to hold your existing investments?
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It depends on which "expert" you choose. I've been regularly beating Terry Smith of Fundsmith.
And so we beat on, boats against the current, borne back ceaselessly into the past.2 -
So true! 🤣
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I'm really not an expert myself but I'm very impressed with Trading212. You just pick a pie (some have a minimum investment such as £50/month). Some are higher risks but most spread the risk around. It's monitored by AI (and I think, the pie maker(?)). Using regular bank transfers avoid charges you would get if you used bank cards over £1k.
A couple of pies I've started are at around 20% gains after just a few months.
"Beer. Now there's a temporary solution." Homer (Simpson)2 -
That's fine as long as you know the ingredients in the pie and the reason they are part of the recipe.
And so we beat on, boats against the current, borne back ceaselessly into the past.4 -
Make sure you allow enough time for the dough to rise. 😉
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Thank you, I plan to make additional contributions. I listened to Martins podcast yesterday and read his stuff for stocks and shares newbies. I am looking at maybe moving to wealthify. Has anyone experience of them and do you know if I can get the same no fee for a year if I transfer rather than open a new account?
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Thank you, I was thinking of Trading 212, however I think it was on the list of 'self managed' when I read Martins information on Stocks and Shares for newbies yesterday afternoon.?
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You should be able to check the terms and conditions for the offer - sometimes offers like this are just for opening an account, in which case you're fine, sometimes they depend on adding a certain amount. But the Ts & Cs will say.
Absolutely Trading 212 is very much on the self-managed side of things - you are restricted to exchange traded assets only, but you get exposure to several exchanges and it's actually quite hard to get access to the right information sometimes and it's not very consistent in it's presentation of information. I wouldn't recommend it unless you're comfortable doing some research outside of the app as well.
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The difficulty is that there isn't one "best" platform. It depends very much on the amount of funds you have, or will have, to invest; and it depends on the needs and experience of the investor.
You might like to look at the Which? report at . It's free to read and there are lots of other articles that you might find useful.
The one they say is "Recommended" and "Great Value" is InvestEngine, and for someone who wants to invest as easily as possible, I'd agree. It's very similar to Wealthify, which you mention, but likely to be better value with lots of help for people with less experience of investing. If you use a link from someone with an account then both you, and they, get £50 to start, at least I'm fairly sure they still have that offer.
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