store first

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  • Honesty1302
    Honesty1302 Posts: 1 Newbie
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    CannySaver wrote: »
    Hi

    I've been offered the Store First investment and did quote a bit of research into it. I concluded the following:

    1. The investment isn't a scam, it does exist, and is clearly based here in the UK unlike many of these alternative investments, however I didn't invest

    2. Why didn't I invest? Because I didn't Feel comfortable that the returns would be there in the long term. I was pretty convinced about the short term returns because of the way the scheme is set up and monies ring fenced to provide the guaranteed income in the first couple of years, however after that its just projections. I was also uncomfortable with the illiquid nature of the investment, when I want out I have to find someone to buy me out, that might be a tough as

    3. RE the OP's specific cicrumstances, whilst they don't say which Final Salary scheme they are a member of speaking generally why on earth would you want to come out of a scheme which provides (a.) a guaranteed income with no investment risk and (b.) an index linked pension. There is no now possible way this is a good idea (imho)

    Be careful of the people who peddle these schemes, they are generally unregulated and if a transfer is made there is no comeback to anyone whatsoever.

    This takes me onto a wider point though, I believe that some people in Final Salary or Defined Benefit schemes don't understand how good the benefits are. Having a guaranteed, index linked pension, with no investment risk is massive and can rarely be beaten outside of that environment. Yes, at retirement there might be the odd case were they are better taking benefits in an alternative way rather than from the scheme and I have friends who have transferred out to buy commercial property and have done well. But for the vast vast majority sticking with the scheme is much better and some members need educating of this...........

    I shall now descend slowly from my soap box! ;)

    The Canny Saver

    I have invested in Store First after taking advice from my Financial Advisor who is also a good friend and would not advise me to invest in anything that may be "dodgy". I also spoke to my SIPP trustee who had also approved the investment. I was invited to the Head Office and I was taken on a tour of the sites too.I know other people that have also invested and are happy with their investments. There are always scaremongers when a business appears to be successful.The only issue that I can see is the cold calling from some of the Agents who are not Store First employees and are out to sell as much as they can.This happens in many fields of business these days and I would never consider even listening to their sales spill.These are the cowboys in this investment,not Group First!
  • dunstonh
    dunstonh Posts: 116,384 Forumite
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    edited 29 December 2013 at 3:53PM
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    I have invested in Store First after taking advice from my Financial Advisor who is also a good friend and would not advise me to invest in anything that may be "dodgy".

    No adviser worth their salt is going to recommend anyone invest in an unregulated scheme unless they are someone with a large amount of assets to invest and dont mind putting a very small amount of that into an unregulated scheme that has no consumer or regulatory protection. That is unless the adviser isnt a real adviser in the regulatory sense or is a dodgy one or just a rubbish one.

    So, if this investment is say around 5% of your overall investments and you can afford to lose 100% of it then that would be fair enough. One assumes you got a full written report from that adviser and the adviser also completed full due diligence on the scheme as they are required to do and showed you this? (e.g. the legal opinion the adviser obtained and details of the accounts etc)

    You tend to find those advising these schemes are unregulated. I recently had to initiate a complaint on something similar and it turned out the adviser wasn't actually an investment adviser at all but a mortgage adviser. Yet the person thought they were an adviser
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • mania112
    mania112 Posts: 1,981 Forumite
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    Honesty1302 wrote: »
    I have invested in Store First after taking advice from my Financial Advisor who is also a good friend and would not advise me to invest in anything that may be "dodgy". I also spoke to my SIPP trustee who had also approved the investment. I was invited to the Head Office and I was taken on a tour of the sites too.I know other people that have also invested and are happy with their investments. There are always scaremongers when a business appears to be successful.The only issue that I can see is the cold calling from some of the Agents who are not Store First employees and are out to sell as much as they can.This happens in many fields of business these days and I would never consider even listening to their sales spill.These are the cowboys in this investment,not Group First!

    I don't believe you.
  • sheffield61
    sheffield61 Posts: 11 Forumite
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    I invested 100K from my SIPP into Storefirst [All now at Livepool airport], over 3 years ago. Since then I have had x2 £8,000 and x1 £10,000 safely paid back into my SIPP account. I shortly expect a further £10,000 to be paid into my SIPP by Storefirst on my 4th year of ownership. If somebody can tell me where I can make more than £36,000 in just 48 months of ownership I am all ears!?....... :smiley: I :iloveyou: Storefirst!?.......
  • dunstonh
    dunstonh Posts: 116,384 Forumite
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    sheffield61 wrote: »
    I invested 100K from my SIPP into Storefirst [All now at Livepool airport], over 3 years ago. Since then I have had x2 £8,000 and x1 £10,000 safely paid back into my SIPP account. I shortly expect a further £10,000 to be paid into my SIPP by Storefirst on my 4th year of ownership. If somebody can tell me where I can make more than £36,000 in just 48 months of ownership I am all ears!?....... :smiley: I :iloveyou: Storefirst!?.......

    Madoff investors got their income for years. It was being paid for by investors.

    Try and find out how much you will get and how long you will have to wait to get the money. The early ones may get lucky but those left in at the end or at an inconvenient time that suffer.

    as for 36% in the last four years, that is easy. Most equities have performed better than that in that period. Even simple investments, like invesco perpetual distribution which has made 44.90% in the last 4 years. (Uk index trackers have made just under that at 44.12%) Plus, they are liquid and you can have your money in cash in days as well as having consumer protection.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • bigadaj
    bigadaj Posts: 11,531 Forumite
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    sheffield61 wrote: »
    I invested 100K from my SIPP into Storefirst [All now at Livepool airport], over 3 years ago. Since then I have had x2 £8,000 and x1 £10,000 safely paid back into my SIPP account. I shortly expect a further £10,000 to be paid into my SIPP by Storefirst on my 4th year of ownership. If somebody can tell me where I can make more than £36,000 in just 48 months of ownership I am all ears!?....... :smiley: I :iloveyou: Storefirst!?.......

    Have you tried selling these units on, if the money is guaranteed as you seem to assume then surely someone would be willing to purchase these from you at well above your initial value given the indicated yield.
  • jamesd
    jamesd Posts: 26,103 Forumite
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    edited 8 January 2014 at 3:52PM
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    sheffield61 wrote: »
    If somebody can tell me where I can make more than £36,000 in just 48 months of ownership I am all ears!?
    Major stock markets, you did badly compared to them over the last four years, achieving only 8% annualised.

    Outside a pension: isePankur P2P lending to people in Estonia. I've achieved in excess of 25% a year on money lent via them, over the last year plus. Of course there's no guarantee that this will continue, except for the loans that have already been made. Or several Venture Capital Trusts, where tax relief of 30% on the money invested, capped at the tax paid in the year, would have turned your £100,000 to £142,857 and you'd have been able to get 8-9% a year tax free in dividends.
  • sheffield61
    sheffield61 Posts: 11 Forumite
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    bigadaj wrote: »
    Have you tried selling these units on, if the money is guaranteed as you seem to assume then surely someone would be willing to purchase these from you at well above your initial value given the indicated yield.
    Thanks for all the comments, it's in the contract that they guarentee to buy back at the purchase price at year 5 and that's what I am intending to do at the moment.....
  • bigadaj
    bigadaj Posts: 11,531 Forumite
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    sheffield61 wrote: »
    Thanks for all the comments, it's in the contract that they guarentee to buy back at the purchase price at year 5 and that's what I am intending to do at the moment.....

    Ok, please report back at that stage.
  • sheffield61
    sheffield61 Posts: 11 Forumite
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    OK, I will, cheers.....
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