Merryn Talks Money
How to Start Your Investment Journey
Jan 14, 2025
Holly Mackay, Founder and CEO of Boring Money, shares her expertise on starting your investment journey. She discusses how to choose the right investment platform and explains what an investment platform actually is. The conversation dives into selecting robo-advisors for a simpler approach, understanding costs, and reassessing investment risk amidst market volatility. Holly also highlights key factors like user experience and diversification when exploring various platforms. It's a must-listen for anyone looking to make informed investment choices!
28:26
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Quick takeaways
- Investors should carefully compare investment platforms based on fees and performance metrics to maximize their returns effectively.
- Understanding the role of robo-advisors can simplify investing for those who prefer a hands-off approach while still achieving portfolio diversification.
Deep dives
Understanding Investment Platforms
An investment platform serves as a marketplace where individuals can purchase and store their investments. These platforms have seen a rapid rise, with a notable 78% growth over the last five years, particularly among DIY investors. Major platforms like Hargreaves Lansdowne, Interactive Investor, and AJ Bell are well-known, but there are around 35 to 40 reputable choices available. As competition increases, it becomes essential for investors to assess their preferences and level of engagement, whether seeking a hands-off or more involved approach.
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