Brewin Dolphin (LSE: BRW) is one of the biggest wealth management firms in the UK. They provide financial planning and investment management for private individuals, charities, and companies.
They can trace their origins back to 1762 when John Dawes, who was also a founder of the London Stock Exchange, founded the company.
Scroll down for more details on buying shares in Brewin Dolphin.
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Step 1: Get a share trading account
Brewing Dolphin is listed on the London Stock Exchange, which your broker needs access to if you want to buy some of their shares.
Things to think about when choosing the right broker: what commission they charge on trades and the foreign exchange fee incurred when investing in overseas assets, what tradable instruments and market access they offer, whether they allow fractional share investments, and the general user-friendliness of their platform.
Step 2: Fund your trading account
To buy shares from Brewin Dolphin, you'll require cleared funds in your trading account.
You can make a deposit using a debit card or bank transfer. Your broker may also accept credit cards, although many don’t.
Although it varies between brokers, funds are typically available to use immediately when deposited with a debit card.
Step 3: Decide how much money to allocate
Things can change rapidly in the stock market, which is why you shouldn't invest more money than you can afford to lose.
If you want to invest in shares regularly over time, you're less prone to the volatility in the markets. This is a strategy known as pound cost averaging.
Step 4: Choose whether to invest in shares or an ETF
ETFs (Exchange Traded Funds) are a form of managed, diversified investment. Each is comprised of shares of several companies, usually in a specific sector or market. The name of an ETF indicates the subject matter it is focused on. It’s easy to see what share holdings an ETF has online.
Step 5: Set up your order
A market order is the easiest way to buy shares. When submitted, the broker will buy shares in Brewin Dolphin at the next market price. However, there can be some variance between the price quoted and the price paid.
Most brokers offer the ability to set up an order to execute automatically when the share price hits your target. Trigger orders can be configured to buy or sell and are widely used to protect profits by selling when the price falls.
Step 6: Buy
Once you’ve configured your order, submit it to buy your shares.
Once you have invested in Brewin Dolphin shares, keep track of the price. Do this whether you are planning to make a long or short-term investment.
Actively watch what Brewin Dolphin is doing. Take an interest in anything new they announce to the market. Whether positive or negative, press stories can impact the stock price.
Tracking their competitors, such as Royal London Asset Management, Oakham Wealth Management, and Cantab Wealth Management, will help you place Brewin Dolphin’s performance in context with their industry peers.
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