Good IFA needed - any on here?
Discussion
I need a couple of pointers from a good financial advisor after taking poor advice for years 
Other than a couple of years of cash ISA's and some VCT that are doing, well, less than fantastic, I've cashed everything else in at the ripe old age of 40 and am now sitting on a pile of cash in my savings account (awful interest as you'd expect) and want to know what to do with it in this 'interesting' climate.
Whilst there will doubtless be plenty of funny suggestions, I need a couple of sensible ones to go with them
Any good IFA's here who can help a fellow PH'er?
NL
Other than a couple of years of cash ISA's and some VCT that are doing, well, less than fantastic, I've cashed everything else in at the ripe old age of 40 and am now sitting on a pile of cash in my savings account (awful interest as you'd expect) and want to know what to do with it in this 'interesting' climate.
Whilst there will doubtless be plenty of funny suggestions, I need a couple of sensible ones to go with them
Any good IFA's here who can help a fellow PH'er?
NL
Not sure why you cashed your cash ISA's in before you've decided what to do with the money. You've now lost the 'tax free' status of your investment. You've also lost the option of transfering the 'cash ISA' over to a 'stocks and shares' ISA if you decided on taking more of a risk with your money and still keeping it in a tax free investment vehicle.
put £3,600 into a fresh ISA
pay off your high-interest debts, bearing in mind that 2% is ave. for plain savings and inflation is near 0% Anydebts you have above 5% must be paid off.
bonds look ok for mid term yield
perhaps 10% of the money into a stocks and shares ISA if you fancy a flutter (would have been better a few weeks ago)
don't tie much of the money up as we are in unstable times and interest rates will be sure to rise.
I'm not an IFA, I have an IFA, I just thought you might like another posting
pay off your high-interest debts, bearing in mind that 2% is ave. for plain savings and inflation is near 0% Anydebts you have above 5% must be paid off.
bonds look ok for mid term yield
perhaps 10% of the money into a stocks and shares ISA if you fancy a flutter (would have been better a few weeks ago)
don't tie much of the money up as we are in unstable times and interest rates will be sure to rise.
I'm not an IFA, I have an IFA, I just thought you might like another posting
kojak said:
Not sure why you cashed your cash ISA's in before you've decided what to do with the money. You've now lost the 'tax free' status of your investment. You've also lost the option of transfering the 'cash ISA' over to a 'stocks and shares' ISA if you decided on taking more of a risk with your money and still keeping it in a tax free investment vehicle.
He didn't cash in his cash ISA's.He cashed in everything else.
OP - what exactly are you after?
Guaranteed capital?
Guaranteed returns?
A mix? - A portfolio approach that covers major asset classes?
I have a range of these on my books - how aggressive do you want to go?
One of my portfolios has gone up over 50% this year - took a kicking last year and is highly volatile, but the numbers are there to show sustained positive performance. Would I invest in it personally? Not unless i could afford to wave goodbye to the cash for two to three years and wait on the returns if it fell again.
Have another option guaranteeing 4.6% minimum return over next 6 years. If the underlying funds do more than that then the returns are higher. They probably will. How much by? If I knew the answer to that I'd be able to retire.
As I said.
Define good.
davemac250 said:
kojak said:
Not sure why you cashed your cash ISA's in before you've decided what to do with the money. You've now lost the 'tax free' status of your investment. You've also lost the option of transfering the 'cash ISA' over to a 'stocks and shares' ISA if you decided on taking more of a risk with your money and still keeping it in a tax free investment vehicle.
He didn't cash in his cash ISA's.It all depends on how big your pot of money is and what sort of risk you want to take, timescales etc. I would certainly have some of your money invested in the stock market to take advantage of the upturn.
Edited by kojak on Wednesday 2nd September 08:13
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