Stocks & Shares ISA

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[Deleted User]
[Deleted User] Posts: 0 Newbie
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in Savings & investments
Am posting this on behalf of a friend (who is 63).

She has inherited £100k (lucky so and so!) and, after looking at all her options, she's decided to go for a stocks & shares ISA. Would you advise her to use an IFA or could she do it herself? She's no idea where to start (and neither do I).

Thanks.

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  • dunstonh
    dunstonh Posts: 116,379 Forumite
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    Would you advise her to use an IFA or could she do it herself?

    Its no different to any other task in life. DIY and DIY well and you can save money. DIY badly and it can cost you more money than getting in a professional.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • BLB53
    BLB53 Posts: 1,583 Forumite
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    It is certainly possible to diy but it would be a good idea to read up beforehand to ensure she fully understands what is involved...asset allocation, growth or income, funds or shares, suitable platform etc.

    Maybe take a look at a couple of free websites. Probably the best is Monevator which is widely recommended on these boards
    http://monevator.com/category/investing/passive-investing-investing/

    and also DIY Investor
    http://diyinvestoruk.blogspot.co.uk/p/basics.html

    If she feels diy is not appropriate then it would be either Robo Advisor or IFA.
  • eskbanker
    eskbanker Posts: 31,066 Forumite
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    Corona wrote: »
    She has inherited £100k (lucky so and so!) and, after looking at all her options, she's decided to go for a stocks & shares ISA.
    Just in case it wasn't clear to you or her, it's only possible to put £20K into a S&S ISA in any given tax year, so she'll still need to find a home for £80K.

    However, the ISA is just a wrapper, and the same investments can be selected to be held outside this wrapper as well as within it, if desired....
  • System
    System Posts: 178,094 Community Admin
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    eskbanker wrote: »
    Just in case it wasn't clear to you or her, it's only possible to put £20K into a S&S ISA in any given tax year, so she'll still need to find a home for £80K.

    However, the ISA is just a wrapper, and the same investments can be selected to be held outside this wrapper as well as within it, if desired....
    Unless she also inherited an ISA allowance.
  • dunstonh
    dunstonh Posts: 116,379 Forumite
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    Unless she also inherited an ISA allowance.

    In which case....
    She has inherited £100k (lucky so and so!)

    That wouldn't make her a lucky so and so as it would be her husband that is dead.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • Alexland
    Alexland Posts: 9,653 Forumite
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    dunstonh wrote: »
    That wouldn't make her a lucky so and so as it would be her husband that is dead.

    My wife might find that situation agreeable..
  • dunstonh
    dunstonh Posts: 116,379 Forumite
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    I lined it up and wondered who would take it. ;)
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
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