Anyone who wants to invest for the first time – or who is considering the step of changing their existing provider – faces some potentially bewildering choices.

Picking the investments themselves is hard enough (although we have plenty of help on this website). But there is also the question of which company you choose to manage your Isa.

Although some fund managers allow you to invest with them directly, you get a wider choice of funds and shares, plus easy switching and administration, at a "fund shop" – also known variously as investment shop, fund supermarket or platform. Examples include Hargreaves Lansdown, Interactive Investor, AJ Bell and Fidelity Personal Investing.

Most providers give you access to a very wide range of funds and let you make your own decisions. This is known as do it yourself (DIY) investing.

"Some also offer ideas, or suggested fund lists, while a subset offer even more help by helping you understand how much risk you’re happy to take and then providing ready-made investment solutions that match that risk level," said Mark Locke of the Lang Cat, a consultancy firm.

Working out which will be cheapest and which is right for you can be complicated, as they don't all charge in the same way and advice differs from one provider to the next.