Been advised to invest with Hartford - Anyone got experience

rlfan82

We have inherited a fair chunk of money and have ben advised to invest. Is now a good time and does anyone have any expereriences, good or bad?

dunstonh

I'm not impressed with the Hartford product. It smacks of having all the right sound bites but when you cost them up and compare against alternatives you realise how expensive those options are.

Plus, they only offer their product in the life assurance tax wrapper and that may not be the most appropriate tax wrapper. (note the use of "may" as there are plenty of times it can be but more when it isnt).

rlfan82

Ta for the reply, Could you expand at all?

We initially had the idea of paying off our mortgage, but the advice we were given was to invest, as the money would be working harder for us.

dunstonh

Potentially, the reasoning to invest is correct. I could clear a chunk off my mortgage but i still invest and I am still running returns at more than double the rate of interest on the mortgage as average. However, it depends on your risk profile and tax position as to whether you should do it or not. Using up the £7200 (each) ISA allowances can be more important than clearing the mortgage as the long term benefit of the ISA can outweigh the short term gain of clearing the mortgage (ISA being a use it or lose it allowance).

I assume the recomendation included fully utilising your ISA allowances (it would be a mis-sale if it didnt).