- Want to buy Legal & General shares for exposure to the financial sector?
- Details on where you can buy their shares and what to look for.
- Info about setting up your trade and keeping track of your investment.
Legal & General (LON: LGEN) is a multinational financial service and asset management company. They have a track record of providing consumers and businesses with investment products, lifetime mortgages, annuities, and pensions since 1836.
To buy Legal & General shares, read on for a full guide to where and how.
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Step 1: Pick a share broker
Legal & General are listed on the London Stock Exchange, which your broker will need to have access to if you want to buy shares in the company.
You can compare a number of brokers on Finty. Features to look for include the commission charged, foreign exchange fees on international trades, minimum deposit size, what markets are accessible, and tradable assets. Some brokers have a demo account for you to practice with before depositing money and investing.
Step 2: Fund your account
You’ll need to have cleared funds in your account before you can buy shares. Most brokers will accept bank transfers and debit cards. Some accept credit cards too, but this is less common.
There may be a minimum deposit required, but this is generally quite low for those brokers listed on Finty.
Step 3: Set your budget
Shares are volatile, so you should not invest more than you can afford or would be comfortable with losing.
Step 4: Choose between shares or an ETF
Investing in an ETF with exposure to Legal & General is generally less risky than investing in a single company. This is because ETFs (Exchange Traded Funds) invest in the shares of several different companies. However, while ETFs may suit the passive investor, they may be less appealing to active investors.
Step 5: Decide your type of order
Most brokers have a number of ways to set up an order to buy shares.
The easiest is the market order, which, once submitted, will buy shares at the next available price. Depending on the broker, you may be able to configure other more complex orders, for example, one that invests the same amount of money every month in the same company, or an order that is triggered automatically at a certain price.
Step 6: Place your order
When configured, submit your order to buy Legal & General shares.
The share price of Legal & General is impacted by the economic situation in the markets in which they do business. So, it is worth keeping track of how each of these economic areas is performing. For example, societal level events such as war and recession can affect their earnings and performance.
Reading their official statements, annual results, staff reviews, and press releases can help you to understand what direction the business is moving in. Tracking their competitors in the insurance and investment industry can help broaden your understanding of their performance in context with the wider market. Their direct competitors include AXA (EPA: CS), Aviva (LON: AV), RSA Insurance (LON: RSAB), and Prudential Financial (NYSE: PRU).
Disclaimer: We put our customer’s needs first. The views expressed in this article are those of the writer’s alone and do not constitute financial advice. Advertisers cannot influence editorial content. However, Finty and/or the writer may have a financial interest in the companies mentioned. Finty is committed to providing factual, honest, and accurate information that is compliant with governing laws and regulations. Do your own due diligence and seek professional advice before deciding to invest in one of the products mentioned. For more information, see Finty’s editorial guidelines and terms and conditions.