Misaligned incentives lead to wealth advisors not always acting in their clients best interests. Like the Catholic deadly sins, the wealth management industry is subject to it s own set of seven deadly sins.
How I’d invest £500 per month in a Stocks and Shares ISA starting in 2021 Image source: Getty Images
If I was starting investing in 2021, the first thing I’d do is open a Stocks and Shares ISA. Money held inside an ISA attracts no income or capital gains tax. Furthermore, investing in stocks and shares can produce higher returns in the long run than saving in a Cash ISA.
Compared to when I was starting out, share-dealing costs are cheap these days. Thanks to the rise of online brokers offering Stocks and Shares ISAs, investing relatively small sums is cost effective. So, how would I invest £500 per month in 2021?