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Scottish Widows OEICs (Open Ended Investment Companies)
NoOneReally
Posts: 102 Forumite
Hi,
I need a little bit of advice !. My LTSB Financial advisor has advised me to put £50k - £60k into a OEICs (Open Ended Investment Companies), now I have never been told how much this 'Could' make (Or Could Lose), and although this money is in a LTSB savings account making 2.5% at least I can see it and know how much it is making each month !.
So such I invest in this or leave it in a savings account earning 2.5% or find somewhere different to put it ?.
Thanks
I need a little bit of advice !. My LTSB Financial advisor has advised me to put £50k - £60k into a OEICs (Open Ended Investment Companies), now I have never been told how much this 'Could' make (Or Could Lose), and although this money is in a LTSB savings account making 2.5% at least I can see it and know how much it is making each month !.
So such I invest in this or leave it in a savings account earning 2.5% or find somewhere different to put it ?.
Thanks
0
Comments
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find somewhere different to put it ?.
Find somewhere else.
The LTSB sales rep only has SW funds available. They have a few good funds but not enough in all the areas to build a diverse portfolio with quality funds. Plus, the Lloyds tied sales reps cannot portfolio plan so they typically recommend 100% into one fund. Usually one of the portfolio funds. Not where you would really want your money.
You should seek real financial advice and not sales advice (or restricted advice as it will be known as soon). Nothing wrong with the concept but you would effectively be investing at full cost in a basic option.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.0
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