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  • FIRST POST
    • Corona
    • By Corona 17th May 18, 1:47 PM
    • 848Posts
    • 793Thanks
    Corona
    Stocks & Shares ISA
    • #1
    • 17th May 18, 1:47 PM
    Stocks & Shares ISA 17th May 18 at 1:47 PM
    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.
Page 1
    • dunstonh
    • By dunstonh 17th May 18, 2:01 PM
    • 92,613 Posts
    • 59,925 Thanks
    dunstonh
    • #2
    • 17th May 18, 2:01 PM
    • #2
    • 17th May 18, 2:01 PM
    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). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • BLB53
    • By BLB53 17th May 18, 2:04 PM
    • 1,266 Posts
    • 1,047 Thanks
    BLB53
    • #3
    • 17th May 18, 2:04 PM
    • #3
    • 17th May 18, 2:04 PM
    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.
    If you choose index funds you can never outperform the market.
    If you choose managed funds there's a high probability you will underperform index funds.
    • eskbanker
    • By eskbanker 17th May 18, 2:30 PM
    • 7,137 Posts
    • 7,562 Thanks
    eskbanker
    • #4
    • 17th May 18, 2:30 PM
    • #4
    • 17th May 18, 2:30 PM
    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.
    Originally posted by Corona
    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....
    • Economic
    • By Economic 17th May 18, 2:32 PM
    • 249 Posts
    • 227 Thanks
    Economic
    • #5
    • 17th May 18, 2:32 PM
    • #5
    • 17th May 18, 2:32 PM
    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....
    Originally posted by eskbanker
    Unless she also inherited an ISA allowance.
    • dunstonh
    • By dunstonh 17th May 18, 2:58 PM
    • 92,613 Posts
    • 59,925 Thanks
    dunstonh
    • #6
    • 17th May 18, 2:58 PM
    • #6
    • 17th May 18, 2:58 PM
    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). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • Alexland
    • By Alexland 17th May 18, 7:27 PM
    • 2,388 Posts
    • 1,789 Thanks
    Alexland
    • #7
    • 17th May 18, 7:27 PM
    • #7
    • 17th May 18, 7:27 PM
    That wouldn't make her a lucky so and so as it would be her husband that is dead.
    Originally posted by dunstonh
    My wife might find that situation agreeable..
    • dunstonh
    • By dunstonh 17th May 18, 8:11 PM
    • 92,613 Posts
    • 59,925 Thanks
    dunstonh
    • #8
    • 17th May 18, 8:11 PM
    • #8
    • 17th May 18, 8:11 PM
    I lined it up and wondered who would take it.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. 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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