To set up a regular investing instruction online, you first need to log in to your account and click on an HL Account. Click on the 'Monthly savings' tab followed by the link 'Start a regular savings plan in this account now'. Once you have followed this link you will see an 'Add Fund' button which if you select it will provide you with an option to select a fund manager from the drop-down menu. You are also able to setup a regular investing instruction into FTSE 350 stocks and investment trusts.
There is no charge for investing into funds. The charge for regular investing into shares and investment trusts is just £1.50 per deal.
Once you have selected a fund manager you are then able to select the fund you wish to invest into and the monetary amount. To add another fund you simply need to click on the 'Add Fund' button again and follow the same aforementioned process. Please ensure you have read the fund's Key Investor Information Document (KIID) or Key Features first which is available from the individual fund factsheets on the website.
Once you have made your selections you should then click on the green 'Next' button at the bottom of the screen, whereby you will be directed to a page where you are able to enter your bank details. Once you have entered your bank details you should again click on the green 'Next' button. This will bring up a confirmation of your monthly savings plan.
Before topping up your account please ensure you have read the Key Features.
If you are not yet a client
If you are not yet a client you can open an account and set up a regular investing instruction as part of the application process online.
Simply select the 'Set up regular monthly savings' option from the application screen for your chosen account:
Alternatively, you can open an account and set up regular savings over the telephone with a debit card, or use an application form and cheque, ensuring that you complete the direct debit mandate at the bottom of the form.
This video has various screen captures, along with a voice over. Descriptions of what is shown in the video are described below:
Title: How to set up a monthly saving instruction
"Log into your account using your username, date of birth, online password and three digits from your secure number. (video shows the log in steps)
Now you can see your portfolio showing your accounts (video shows logged in portfolio summary page)
Select the account in which you want to set up your monthly payments, (video shows cursor clicking on a Fund & Share Account as an example) and then select the ‘monthly savings’ tab. (video shows relevant tab which is the 7th option across, in between ‘transaction savings’ and ‘add money’)
Select 'start a regular savings plan in this account now'. (video shows cursor clicking on the link with this name)
(video shows page titled ‘Monthly Savings’) Here you can specify whether you’d like us to purchase an investment with your monthly savings. Click to add a fund or add a share and use the drop down menus (video shows cursor clicking and highlighting these options, once selected three drop down menus appear) to select your chosen investments. If you have chosen to invest in a fund please ensure you have read the relevant key features and key investor information documents.
If you don’t want to make an investment decision at this stage then enter the amount you would like to save monthly into the cash box, once you’re happy with your selections click ‘next’.
(video shows being taken back to the monthly savings tab on the Fund & Share Account page where there is now fields to enter your bank details) Enter your bank details and then select ‘next’.
You will then see a summary of the details you’ve entered, (video shows a page with what is described verbally) and the direct debit guarantee. Read all of this carefully and tick the box confirming you have done so before clicking ‘next’.
(Video shows Monthly Savings page which displays a summary of what has just been set up) We will take the money from your account on the 7th of the month or the next available working day. If you given investment instructions these will be placed on or around the 10th of the month."
This video hopefully helps you understand the process, but it should not be taken as personal advice. Please remember that all investments can fall as well as rise in value, so you could get back less than you invest. This video is just an example, not personal advice.