Trivial things you don't understand/mildly annoy you

[Barry Scott]

Doing it with ISAs is even more underhanded, in my opinion, as most people use them as a longer term investment.

I'm starting to feel as angry as a Daily Mail reader/JT fanboy in the Champions League thread!

[blah blah]

On a similar sort of note, insurance companies that send a renewal quote 20% higher than the first years cover, then when you phone to cancel because you've moved elsewhere for a cheaper deal, ask you if you would reconsider if they drop their price. No I won't, but I may have reconsidered if you had sent me your best price first time, rather than you banking on me being lazy enough to renew anyway. Cunts.

[Samdy Gray]

I wasn't aware if this shitty practice until now. I'm so fucking angry I've decided that moving every year is the action I'll take. Cashing in on indolence is the new trend it seems.

I've been doing it for years now. With a full cash ISA the difference in interest can be £125+, so it's worth it for that little bit of effort once every year or so.

Nationwide are good in that they let you transfer to the new product to get the new rate, other banks don't meaning you do have to transfer elsewhere.

[mrverve]

Doing it with ISAs is even more underhanded, in my opinion, as most people use them as a longer term investment.

I'm starting to feel as angry as a Daily Mail reader/JT fanboy in the Champions League thread!

It's mrverve to you Barry. 

[Flashheart]

Mondays

[Samdy Gray]

Tell me why.

[Flashheart]

I don't like Mondays

[Bennett]

If you have any cash ISAs, the same applies.  A lot of deals end after 18 months or so when the 'bonus' is withdrawn.  Infact, I have just moved cash from an existing Nationwide cash ISA to another Nationwide cash ISA to avoid getting stung.  The fact that Nationwide don't do this automatically proves the point that they are looking to cash in on inaction.

i look forward to dealing with your complaint

[Bennett]

without turning into nationwide fanboy (the precursor to being one); as sam says you can move money around and at least you earn some interest when your bonus or fixed rate expires. some providers (eg credit suisse) pay nothing once your product ends

[janaage]

Doing it with ISAs is even more underhanded, in my opinion, as most people use them as a longer term investment.

Jesus and for that reason with RDR coming and people taking less financial advice (as they won't want to pay for said advice) the savings of this country is well and truly fucked. Who would want to use a cash ISA as a long term investment vehicle? Well unless you want to guarantee to erode the real value of your investment that is.

[Barry Scott]

Jesus and for that reason with RDR coming and people taking less financial advice (as they won't want to pay for said advice) the savings of this country is well and truly fucked. Who would want to use a cash ISA as a long term investment vehicle? Well unless you want to guarantee to erode the real value of your investment that is.

Well ok mr financial, as a then 25 year old, I considered my 3 year ISA long term. And still do!

I haven't got a clue what else it is you're on about, which I guess proves your point.

[oxford_fan]

Jesus and for that reason with RDR coming and people taking less financial advice (as they won't want to pay for said advice) the savings of this country is well and truly fucked. Who would want to use a cash ISA as a long term investment vehicle? Well unless you want to guarantee to erode the real value of your investment that is.

Who should I go to for some financial advice? I've got a good sum of money to save and it's sitting in my savings and ISA account at the moment, doing pretty much fuck all. Need to get it sorted before I go away at the end of July.

I bank with Co-Op/Smile, would they be worth starting with?

[janaage]

Well ok mr financial, as a then 25 year old, I considered my 3 year ISA long term. And still do!

I haven't got a clue what else it is you're on about, which I guess proves your point.

Barry I wasn't trying to be rude, but I think there's a genuine concern that as a heck of a lot of people don't take advice now (when the cost of advice is basically subsidised for the likes of us smaller investors by the people with 'proper' lump sums) how many people will take advice next year when pretty much every adviser will be charging people up front for giving you advice. Answer? Not many, it's a dig at the FSA more than the people of the UK.

So not only are they doing their best to destroy pensions, by constantly changing the rules, which the general population aren't keen on, investments are next on the list, and it won't be long before protections hit too. Well as things look like panning out.

OF it'd be worth getting hold of a local adviser, as there are other options, however it can depend on how long you'd want to invest the money for. There are some pretty interesting structured deposit accounts available these days (which could kick out a 9% annual return), or stocks and shares ISA's with plenty of funds giving some decent returns at the present time. And with the price of funds being generally low, now is a cracking time to buy. Problem is historically funds are the one thing that people don't like buying at a low price. You don't wait for a car in the garage to be repriced from 8 grand to 10 grand before buying it, but that's in essence what people do with funds, they wait until the price has recovered then they invest, missing out on that initial return.

[janaage]

Oh and banking advisers aren't always the best to go to, if I'm going to be honest, they tend to be order takers or transactional, rather than financial advisers. You'd be better off dealing with a professional who'd want to be involved in your financial future, not someone who just wants to sell you a product.

[Only Me]

You can also look online to do your research, instead of paying a financial advisor, who generally will point you to the best option he can get a good (not best) deal for you as well as the best commission for him