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stocks and shares ISAs are not savings accounts

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Sometimes I think some people misunderstand what stocks and shares ISAs are.

A stocks and shares ISA is a bucket for investments. Not a savings account or a place to hold cash for the short term. They are difficult to compare to each other to find the best buy because they have two elements, the bucket, and the investment.

The most important thing is the underlying investment. You need to choose this to reflect your risk profile, your overall portfolio should be diversified (not all held within one investment), so you aren’t looking for a single fund to cover all your needs. I like index funds, but you should consider what is best for your own circumstances.

You need to buy your investment through a particular provider, and if you have identified your investments these are easier to pick. Essentially you want the cheapest one. I like fidelity and hargreaves lansdown which are funds supermarkets and are usually good value.

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