Open a Stocks & Shares ISA

Opening a Stocks & Shares ISA with SCM Direct takes about 15 minutes online. Once accounts are opened, have passed all AML checks and are funded, they are invested within two working days. The minimum to open is £10,000; the 2026/2027 ISA allowance is £20,000. Thereafter, the minimum monthly amount is £200, and setup is easy.

Before you start, have these to hand

Proof of identity (passport or UK driving license)
Proof of address dated within the last three months (utility bill, council tax letter, bank statement)
Your National Insurance number
The bank account you will fund the ISA from (for future top-ups, you can only send money via the account attached to your portfolio)

The five steps

Step 1 — Complete the Risk Analysis Questionnaire. Five minutes online at scmdirect.com/risk-analysis-questionnaire/. Free, no obligation. The result identifies which of the eight SCM portfolios fits your timeframe and risk tolerance.

Step 2 — Choose your portfolio. Eight risk-adjusted portfolios are available, spanning Cautious (Bond Reserve), Balanced (Absolute Return blends), Adventurous (Long-Term Return, Equity), and Ethical (ESG). The questionnaire result is a guide; you make the final choice.

Step 3 — Complete the online ISA application. About 10 minutes. SCM Direct verifies your identity electronically. If electronic verification doesn’t capture sufficient data, SCM may request additional documents.

Step 4 — Fund the ISA. Bank transfer up to the £20,000 2026/2027 annual allowance. You can also transfer an existing ISA from another provider – this option is available during the account opening process.

Step 5 — Watch the portfolio go live. Your investment is allocated to the chosen portfolio within one working day of cleared funds. From there, you can monitor holdings, add funds, and view valuations and quarterly statements in your online dashboard.

What does it cost?

0.85% per year, all-in. That single figure covers SCM Direct’s discretionary management fee of 0.4%, all underlying ETF Ongoing Charges Figures, custody (held by Hubwise Securities Ltd, FCA FRN 6071374), trading and transaction costs. No initial charge, no exit penalty, no performance fee.

What if you change your mind?

The mandate can be ended at any time with one month’s notice. There are no exit penalties. The ISA can be transferred to another provider, withdrawn (subject to ISA rules), or paused.

FAQ

What’s the minimum?

£10,000.

What’s the annual ISA allowance?

£20,000 for the 2026/2027 tax year.

How long until I’m invested?

Typically, two working days from successful application to investment.

Is SCM Direct FCA-regulated?

Yes, FCA Firm Reference Number 497525.

Who holds my money?

Hubwise Securities Ltd, FCA FRN 6071374.

Next step

Begin the Risk Analysis Questionnaire, then the ISA application. To speak to someone first: 020 7838 8650 or enquiries@scmdirect.com.