ISA: Tips on choosing a platform

Read on to get tips on how to properly choose your ISA platform.

16:33 16 March 2013

ISA season is just around the corner. If you haven’t started yet, the first thing that you need to do is to choose a platform. Here are some tips on how you can make that happen.

Study and research several platforms

The first step is to check all the platforms available to you to easily pick the one that caters to your investment strategy not just this year but also in the future. Some platforms only cover funds while others offer broader range of investments, which includes bonds, shares, exchange traded funds, and gilts. Choose the one that suit your taste.

Check the charges

Charges are some of the most important things that you need to consider when choosing a platform. Know the fees and understand how much it will cost you to run your ISA portfolio. However, keep in mind that cheapest isn’t always the best.

Difference in share dealing charges

Some platforms will charge you each time you buy or sell shares while others offer flat charge. Determine how often you might buy or sell shares in a given period of time to know the best option.

Look for additional services

Some platforms are more expensive than others because they offer value-added services. For example, some include research and guides to help you easily pick you investments or teach you how to properly manage your portfolio. Although these services will cost you more, they are definitely worth it as they can help you grow your wealth easily.