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Stocks/Shares ISA - what should I do?
LeeKaz
Posts: 5 Forumite
I've had a Stocks and Shares ISA with Skandia for 5 years. I invest £50 direct debit a month with the companies: Jupiter, Newton Higher and Credit Suisse. Given the current climate, I am anxious to get out of this arrangement.
Can I?
- Transfer to a CASH ISA with another company?
- End the ISA and lift all my money and go elsewhere for a CASH ISA?
Would I still be covered under the '£35,000 invested and under rule' if any of these companies go belly up?
Would really appreciate some advice on where to go from here?
Karen
Can I?
- Transfer to a CASH ISA with another company?
- End the ISA and lift all my money and go elsewhere for a CASH ISA?
Would I still be covered under the '£35,000 invested and under rule' if any of these companies go belly up?
Would really appreciate some advice on where to go from here?
Karen
0
Comments
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No.
Cash ISA --> S&S ISA yes
S&S ISA --> Cash ISA no.0 -
I am anxious to get out of this arrangement.
At a time when its good to be putting monthly payments in?
It may be worth reviewing your fund choice but coming out now after a bear market is a strange decision.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 -
I have no idea what you're talking about? LOL
What is a "bear" market?
I thought it was NOT good to be putting money in S+S at the moment?0 -
I have no idea what you're talking about? LOL
What is a "bear" market?
I thought it was NOT good to be putting money in S+S at the moment?
bear market is when the markets have dropped by more than 20% from the recent high point.
Putting money in when the market drops is the best time to contribute. When it goes back up it will be these units that make the most money. Not the ones you bought when the market was higher. For those paying monthly contributions and not looking to take the money out in the near future, events like this are good news not bad.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 -
Ahhh - that's clearer now. Thanks. I was thinking of taking a lot out of it next June to go towards my trip to Italy0
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Investments should be seen to be slightly longer term than 'next June' - I assume you have no substantial savings?Conjugating the verb 'to be":
-o I am humble -o You are attention seeking -o She is Nadine Dorries0 -
After a bear market? So are you now assuring all your clients that the bear market is over and markets can't fall further? Just as well you're investing someone else's money and not your own.At a time when its good to be putting monthly payments in?
It may be worth reviewing your fund choice but coming out now after a bear market is a strange decision.
Did you advise them all to get out before the fall? No, I thought not because you certainly weren't saying that here at the time.
The story from financial advisers is always the same - that now's a great time to give me your money. They'd much prefer their clients to lose 25% of their savings than for them to lose commission. :rolleyes:0 -
Abuse much?Conjugating the verb 'to be":
-o I am humble -o You are attention seeking -o She is Nadine Dorries0 -
After a bear market? So are you now assuring all your clients that the bear market is over and markets can't fall further? Just as well you're investing someone else's money and not your own.
Dunstonh was clearly saying " after prices have fallen ", not " the bear market is over ". And he's quite right - for the long term investor this is not the time to sell, it's the time to buy.0
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