YOUR PORTFOLIO
Practice makes permanent
9.5 million
– number of active retail investment accounts on UK platforms
It doesn ’ t matter how often you extoll the benefits of investing to your loved ones , many will remain unconvinced about its importance until they see the value of their portfolio begin to appreciate considerably . This represents something of a Catch-22 situation – how can they make any money if they don ’ t invest in the first place ? From this point of view , setting up a practice portfolio for them via a major platform represents a win-win , letting them know “ what they could have won ” without risking loss . For first-time investors , Dzmitry Lipski , head of funds research at interactive investor , recommends the group ’ s Quick-start range of readymade multi-asset portfolios . However , Rob Morgan , chief investment analyst at Charles Stanley , says this approach may represent a missed opportunity . After all , the aim is to pique the interest of a prospective investor – is dumping them in a steady multi-asset fund run by a company they may never have heard of the best way to do this ? “ There ’ s an opportunity to be flexible and build in some interesting holdings that help demonstrate different levels of risk ,” says Morgan .
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