Investing - 'Funds Network'

[simpo two]

I have some money to invest and plan to put it into a number of funds.

My IFA has recommended they be managed under an outfit called 'Funds Network' - apparently this enables me to track the funds over the internet and switch money around/in/out instantly on-line. Rather like an on-line bank account in fact.

It seems a great idea to me; has anyone else tried it?

All comments welcome!

[PetrolTed]

I use Fidelity's system to do that. Much like online banking but with your investment portfolio instead.

[simpo two]

Thanks Ted. They mentioned that too, but didn't offer it - maybe they're not signed up with them...?

Anyway, when can I put £1M into PH Futures

[jacobyte]

If your IFA is registered with Fidelity, then you can do it all over the web. Your IFA can also register with Cofunds or Skandia, which are alternatives to Fidelity, and also offer an online service.

[simpo two]

jacobyte said:

If your IFA is registered with Fidelity, then you can do it all over the web. Your IFA can also register with Cofunds or Skandia, which are alternatives to Fidelity, and also offer an online service.

Thanks Jacobyte - do you know if there any extra charges for the online service? I think Funds Network was 0.25%.

[toppstuff]

Funds Network is a good platform.

CoFunds does much the same thing.

Skandia's is a little different as you have to use a Skandia pension or life policy to get access to the funds platform. So you are investing in funds through Skandia, rather than directly into the funds themselves.

[john75]

You can put up two £10k into an ISA tax free

Other options would include Property, Boat, Classic Cars think I might start a post on Investments

[simpo two]

john75 said:

You can put up two £10k into an ISA tax free

It was £7K last time I looked??

[john75]

Had a feeling Gordon rasied the amount to £10k today in the budget.

Also where you invest would depend on whether you are looking for Income from the captial or Capital Growth or a combination of the two.

[simpo two]

john75 said:

Had a feeling Gordon rasied the amount to £10k today in the budget. .

Ah, thanks! However I'm just about grab an ISA for 2004/5. When does the £10K start?

[john75]

Not sure have a feeling it is in Tax Year 05-06 but you will need to check

[jacobyte]

simpo two said:

jacobyte said: If your IFA is registered with Fidelity, then you can do it all over the web. Your IFA can also register with Cofunds or Skandia, which are alternatives to Fidelity, and also offer an online service. Thanks Jacobyte - do you know if there any extra charges for the online service? I think Funds Network was 0.25%.

Not sure of the differences - it depends on the IFA and what discounts they want to give. Try www.tqonline.co.uk/content_page.asp?id=299 if you want discounted rates.

I know that FundsNetwork charge considerably more than Cofunds for a fund switch.

Please note, I'm not an IFA, so can't give advice. I just work with IFAs in technology, so know what's available.

>> Edited by jacobyte on Thursday 17th March 12:42

[jacobyte]

john75 said:

Had a feeling Gordon rasied the amount to £10k today in the budget.

No.

From a budget report out this morning:
"The current individual savings account (ISA) limits of £7,000 for the overall maximum and £3,000 for the cash component will continue until 5 April 2010"

[kojak]

jacobyte said:

john75 said: Had a feeling Gordon rasied the amount to £10k today in the budget. No. From a budget report out this morning: "The current individual savings account (ISA) limits of £7,000 for the overall maximum and £3,000 for the cash component will continue until 5 April 2010"

The maximums are:-

£7000 Maxi ISA

or

£3000 Mini Cash ISA, £3000 Mini Stocks and Shares ISA, and £1000 Life assurance Mini ISA...or combinations of all three, but not exeeding the individual amounts. These can be with different companies.

Originally, the cash limit was £1000, but this was increased to £3000.

>> Edited by kojak on Thursday 17th March 16:22



>> Edited by kojak on Thursday 17th March 16:23