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Investing £30,000 and €20,000
Hi, I would like to invest £30,000 and €20,000 (or the roughly £17,500) for long-term growth.
Last year I invested some euros with Trading212 which was suggested in the forum. A relative helped me choose what shares to buy, but now it's not possible.
I don't want to use a platform where I need to decide myself how to invest and on what. I'd rather go for a company that can manage it. Can you suggest any? I'm aware there would be a commission, but it would be fine if the service is good. Hargreaves Lansdown? Fidelity?
And what do you think of ready-made some companies/banks offer? Thanks!
Comments
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Why do you have different currencies? Where do you hold the money? Where do you pay tax? We'll need more information.
And so we beat on, boats against the current, borne back ceaselessly into the past.2 -
Platforms like HL and Fidelity, do not manage your investments, you have to do that yourself.
However ( like other platforms ) they offer low cost funds/ready made funds that are are 'fire and forget' , So once you have chosen the fund, there is not anything else to do. Maybe just monitor it occasionally.
There are robo advisors, who on the basis of a few questions will suggest a suitable investment fund, but they cost a bit more.
If you want someone to properly manage your investments, you need to pay. Probably minimum £1000 for a basic service.
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I live here in the UK and I pay tax here. The amount in euros is a family gift. Will exchange into pound according to what I'll be advised to do by the company.
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I thought HL did manage one's investments. Got it wrong already!
I don't feel comfortable in choosing the fund myself. I'll have a look at the Robo.
But as I said I'd rather go for a company that can manage the investments, that's what I need advice on.
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It's primarily an execution only stockbroker but investment advice is an option Hargreaves Lansdown offers.
https://www.hl.co.uk/financial-advice
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I'll check if it's worthy for people with ''only'' around £50K.
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Will you be living in the UK for the foreseeable future? If so then your first place to invest would be with your workplace DC pension plan and make sure you understand what specific investment funds you are buying inside the pension and why. This is of course after you have paid off all high interest debt like car loans and credit cards and saved at least six months spending into your bank saving account. Then look at opening an ISA and invest in similar funds to what's inside your DC pension.
And so we beat on, boats against the current, borne back ceaselessly into the past.0 -
They and other platforms, have investment funds that are ready made for people in certain situations. For example for people who will retire on a certain date. These investments funds are managed, and there is guidance about what to do, but in the end you have to decide.
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They charge 1%, with a minimum charge of £995.
Fidelity offer the same, minimum £100K of funds. Or as I have already said they and other platforms offer free guidance.
Investing for beginners | How to start investing | Fidelity
Principles for good investing | How to invest money | Fidelity
Choosing the Right Investment Account for You | Fidelity
From the Moneyhelper website
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I had to look up "workplace DC pension plan" sorry... I've always been self-employed, and in the last ten years I earned below the taxable amount and didn't have to pay any tax and or NI 4.
From what I understand I haven't got a retirement savings scheme and will only get the status pension.
My saving will be enough for several years, and in the future they will increase following inheritance.
Now that some deposits matured and I received a financial gift I have around £50,000 that I would like to invest for 5-10 years. I need advice and management for investment and fund (I'm cutting and pasting here, not sure it makes sense).
Is it possible to find a list of potential ones somewhere?
Hope what I'm saying makes sense...
Thanks.
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