Hi, we would like to open a fully managed Stocks and Shares ISA with a lump sum, and a drip feed of approx £30 month. Any suggestions for first time investors?
Many thanks, Sally
When you say you want a fully managed Stocks and Shares ISA, I assume you mean you want an option where you don't need to pick and mix all the individual investments. Instead you want an easy option where someone has done all the heavy lifting for you.
This would typically mean you should look at what we call a robo advisor.
Most of these will let you set up regular direct debits and drip feed in relatively small amounts each month. This can be a very sensible way to invest at times of great volatility, such as the times we find ourselves in today.
Most recently Wealthify has just won our reader voted awards and was the most popular Online Investment Service with our readers. They're quite easy to use and the site is relatively straightforward. Another popular option is Nutmeg which also does all of the investment work on your behalf. These are both relatively small and new businesses which you may be comfortable with.
If you prefer the idea of going with a more globally established name, then Vanguard is a huge American option which is known for its low cost investments. Its site is not as easy to use as Wealthify's or Nutmeg's, but they are a very robust option. Their LifeStrategy funds will offer you the ready-made option you prefer. The only annoying thing about Vanguard is that their monthly top-up minimums are £100, so this may put them beyond your budget.
All of these will be decently priced robust options, so I suggest you start here.
Good luck and I hope this helps!
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