Share dealing
There are many places where you can deal your shares both on-line and off line, but how do you find the best share dealing service? This has been made easier with price comparison sites where you can compare share dealing services but they may not always include all the information you need.
Share Dealing Charges
The key to checking out which will be the best place for you to deal is to check the charges which will apply as they do vary between share dealers. Also when you are investing money into shares keep in mind that you can work on an Execution Only or Advice Basis.
Execution Only Share Dealing
There is no Minimum Investment Amount required when you are working on an Execution only basis.
Share Dealing Advice
To work on an advice basis then you would need at least £20,000.00 to invest in shares.
You must also consider the tax implications with dividends and possibly on the monies you earn from the shares and so if you haven't already used your annual ISA allowance you should consider placing the first £7,000.00 into an ISA as this is tax free.
Share Dealing Accounts
You may choose to open a share dealing account or set up an online share dealing account, and again there are various companies who offer share dealing services such as Halifax and Lloyds TSB, so you should easily be able to find company which you have heard of to assist you. Many do not require a minimum balance and are open to anyone aged 18 or over who is a UK resident.
There is always a charge for share dealing so check the charges involved, online share dealing can prove to be the cheapest and some now charge less than £10 but the dealing charge may not be the only charge applied.
There can also be an administration charge or an inactivity charge so make sure from the start that you are clear on what you should and shouldn't be charged.
Investment Managers
If you feel that you would happier if someone was to manage your investments for you, then there are many Investment Management companies who should be able to assist you.
Investment Managers can usually manage many assets and securities including property, stocks, shares and bonds and goals can be set by you as the investor to which the investment managers work toward achieving. When asking anyone to manage assets on your behalf make sure that you have made a very clear projection as to what you expect and also are clear on time scales, fees and all other terms and conditions.
If you decide that you would like to manage your own shares then ensure that you have done your research or requested financial advice before buying and selling shares to ensure you reach the maximum return.
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