New to this, so please forgive my ignorance! I’ve tried looking on the internet, I think I know the answer, but I just need to be sure I’ve got this right.

I’m thinking of getting one of these, the way I understand it I:
1. Open a stocks and shares ISA with an online platform. Cavendish Online for me.
2. Put some money in.
3. Choose my funds to assign the money to.
4. ???
5. Profit!

Say I choose 10 funds, put in £1000 and split across all of them at £100 per fund. I then put in £1000 per month. Will this then be automatically used to purchase units in each fund every month, or will I have to go in and select how many units in each fund I want to buy?

Thanks for any help!

There will (should) be a function where you can allocate your monthly savings (%ages) to each fund.

Thank you!

Although I’m about to leave them, Cavendish is a good choice = cheapest there is and free to swap funds, which is important for the sums you’re investing. It piggybacks FundsNetwork, not used their regular investing option but would be amazed if it’s not possible to do what you want.

Only drawback is that FundsNetwork doesn’t include Investment Trusts or offshore-registered unit trusts (eg. Lindsell Train’s Global Equity fund), which is one reason why I’m off to III.

You’d be better off putting £1000 into one fund each month and changing the fund every month as you’re normally charged £6ish per transaction.

NB Having tried a few different different fund brokers, Hargreaves Lansdown are miles ahead in terms of website, UI, ease of use and research etc. Although they’re not the cheapest out there.

Not so, there’s no trading charges with Cavendish

Check this out for costs – I’m with Interactive Investor, SIPP too.

http://www.telegraph.co.uk/finance/personalfinance/investing/isas/10611058/Tables-cheapest-fund-supermarkets-for-Isa-investing.html

I’ve no complaints about Charles Stanley.
Trading in funds is free and their platform charge is 0.25%.
Cavendish, I believe, have a very limited range of funds available.

been thinking about this for a while what sort of return are you guys achieving

been thinking about this for a while what sort of return are you guys achieving

Only meaningful to look over several years eg we’re had a 6 year bull run in the UK/US, so right now UK and US stocks are pretty high.

However, Asian stocks are looking good value…

http://www.telegraph.co.uk/finance/12008830/Barclays-bets-on-stock-boom-as-world-money-growth-soars.html

what sort of return are you guys achieving

What level of risk do you want to take??

Read Robbie Burns’ ‘Naked Trader’ (although he won’t have funds in his ISAs).