Is there any restriction on having multiple accounts?
I donāt mean having and ISA and a basic account, I mean a completely separate sign-up?
Of course there will be restrictions, I wonāt be able to have 2 ISA accounts for example.
I contemplate creating a totally separate account to meet my different investment needs, e.g. I might have my āseriousā account and then another āplayā account.
So very true - I invested last September, just before market dropped loads, has taken me all year to get back to my initial stake, now its time to start compounding!
Iām having a think about my investment strategy and was wondering how it might work in the app.
My initial thought is that I might want to have a small number of different investment strategies (some investment for dividend income, some market tracking ETFs and maybe a few shorter term individual stocks to gamble (in an informed way!) on bigger returns). It struck me that something like Monzo pots* would be a good model here to allow me to segregate them into nice buckets.
From what Iāve seen so far it looks like thereās no way of doing that. Is that right? Would buckets of investments be helpful to anyone else (weāll need a better term, though!)?
*Iād also like to see each of these portfolios in Monzo as pots, but thatās another story!
I saw on Monzo android slack a few weeks ago that thereās an investment pot behind a feature flag. Be interesting to see who thatās with but I doubt itāll be Freetrade as Monzo would want to make money from it.
Segregated investments sounds good, maybe as categories rather than pots but iāll reserve judgement til I see the app in action
I wonder whether search (possibly combined with Emmaās categories suggestion) could be a way to give you a similar outcome - so the search results would give you the kind of summary that you want, for a group of stocks / ETFs?
I guess the search functionality would have to be quite powerful, in order to give you enough variables to filter your results to get to exactly the results you wanted so maybe not..
Iām actually agnostic about presentation, but different views/filters/something to help me remember what my strategy is for each investment, and breakdown return, income etc is what I think Iād like.
(Again, this is all from a position of ignorance, so really looking forward to seeing how Freetrade tackles the problem!)
If they could be a bit more colourful and you could select one youād used before, instead of just text and having to remember what youād used before.
Guess youād have auto complete or show recently used tags. But saying that most people wonāt have many. Things like dividend probably will be filterable, as you might want to see dividend > 1%
Colour is always good. Reminds me of Trello and labels, you can name and colour code them.
Iām sure Freetrade will come up with something thatās really intuitive.
I would definitely find having some type of tagging system useful as I expand my investment, however, until that happens we still have the good old book and pen which I can record my strategy on.
Bump for this! Iāve got a few stocks Iād like to group together and track their collective performance on (like my own really amateur index) to help me test a theory. Some sort of grouping/pot functionality would be ideal for this
Itās really helpful that the lastest version of the app sorts the investments in order but I donāt find the top 6 investments below the portfolio graph useful now that I have a lot more than 6, either it should show all or summarise as groups like ETFās / Individual stocks (initially).
Then by making fully customisable pots/portfolioās like the reminders list app on the iPhone - where each investment is aligned to one chosen list and you can move the order of lists around as well as the order of items in the list.
Would it be possible to create multiple portfolios and bucket your shares / ETFs into those and name according to, lets say your āstrategyā or āgoalsā?
e.g.
Bond Portfolio Strategy
ETF only Strategy
Moderate Growth Strategy
Aggressive Growth Strategy
It could be your goals too e.g.
āMercedes C-Class goal 2025ā
Been trying to find this idea around the community, but i donāt think anyone has brought it up, or i might be blind!