Self select ISAs provide investors with a ISA account in which investment decisions are down to them. They're an option for the more confident investor to consider.
James Caldwell, Director
Most people who put money into an investment ISA are happy to allow someone else - a fund manager - to choose their investments for them. For those who are new to investing or are too busy to manage their own investment portfolio, it can be reassuring to hand the day-to-day responsibility for your investments to someone else.
However, some people prefer to manage their own portfolio. For those who are sufficiently risk-aware and are prepared to accept the extra work that comes with managing their own funds, a self select ISA can offer real freedom of choice.
A self select ISA essentially involves taking your existing ISA allowance and choosing either individual shares or a combination of funds to go in it. You can select from a number of investments, including managed funds such as unit trusts, open-ended investment companies (OEICs) and investment trusts, as well as individual equities, gilts and bonds. However, Alternative Investment Market (AIM) shares cannot be included in a self select ISA.
In summary - if you're planning to build a large portfolio of shares and are in the higher-rate tax band, then a self select ISA can offer a good balance of investment freedom and tax efficiency.
See below for a selection of self select ISA accounts:
|Provider||Account||Trade From:||Online||More Info|
|Stocks and Shares ISA||Up to £10 per trade||Apply Now >|
|Stocks and Shares ISA||£9.95 per online trade||Apply Now >|
|Self Select Stocks and Shares ISA||£11.95 per UK online trade||Apply Now >|
The value of investments and any return from them can fall as well as rise and you may not get back the full amount invested. Please ensure that you read the Important Risk Information below.
Important Risk Information:
This website contains information only and does not constitute advice or a personal recommendation in any way whatsoever. The value of investments and income from them can fall as well as rise and you may not get back the full amount invested. The tax efficiency of ISAs is based on current tax law and there is no guarantee that tax rules will stay the same in the future.
Different types of investment carry different levels of risk and may not be suitable for all investors. Please ensure that you read the Important Risk Information for further details. Prior to making any decision to invest, you should ensure that you are familiar with the risks associated with a particular investment and should read the product literature. If you are in any doubt as to the suitability of a particular investment, both in respect of its objectives and its risk profile, you should seek independent financial advice.