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Experienced Investors - Help me spend my cash!
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I believe Unbiased is anything but. My understanding is that the FAs and IFAs on there have paid to be prominent on the site.
I use a local independent IFA who is not listed on these sites. They don't need to be and don't need to advertise. Their business has rapidly grown as a result of personal recommendations. They started with just a husband and wife, but now have a small team of people. I would suggest looking for something similar that is local to you. Personal recommendation is probably the best gauge of a company.
Some of the regulars such as @dunstonh will be along shortly to share their expertise.
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I think you'd benefit from the simplicity of a "Boglehead" approach. It removes a lot of the frills and complexities often associated with investing that paralyze many novice investors. One of the simple sample portfolios might be of help.
https://www.bogleheads.org/wiki/Investing_from_the_UK
And so we beat on, boats against the current, borne back ceaselessly into the past.2 -
. I opened a trading account too back in 2008 and was posed to start buying individual shares at the time
Trading in individual shares is the opposite of being risk averse.
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I abandoned that strategy off the bat, although maybe that was a little misguided - The Apple shares I was about to buy (once my account finally opened) in the meantime dropped from £200 to £134. Well, we all know the rest of that story had I just gone ahead with the purchase!
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On another topic, I've been managing my ISAs and accounts by spreading holdings between £120k providers.
With my SIPPs I plan to maintain at least two platforms for different reasons, but are you folk concerned about keep each provider platform under £120k, or not?
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Keeping the amount on each platform to 120k will complicate your life. I have more on a single platform and never worry about it because I use a well known reputable one.
And so we beat on, boats against the current, borne back ceaselessly into the past.0 -
As long as you use mainstream SIPP providers, the risk is negligible.
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The FSCS protection limit is only £120K for cash deposits, not investments or pensions, which remain at £85K.
The reasons for sticking to the limit for cash are different from investments anyway, so the limit is less significant for the latter…
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ok, got it, thank you.
I do wonder about the long term outlook for the free services like investengine and others. I realise that they’re still trying to earn fees from selling other services but how long can I expect to keep my investments with them if they completely change their business model or become unviable over the years
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The usual scenario for these types of companies is to burn cash to build up the business/customers, and then sell out to a bigger competitor.
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