GEB / GIB or something else

markizok

Hi

I have maxed my isa allowance wondered where i would be best putting 10K - dont really want to put it away for more than a year, and i would ideally like to add / put away £500 per month.

Can anyone suggest decent products or accounts - i dont really trust HSBC's financial advisors!

dunstonh

Read many of the threads on how we all hate GEBs. AWFUL AWFUL AWFUL. unless you are a provider or operate a sales tied force.

Simple product to sell, rubbish product to own.

markizok

What about sticking it all in ING then?

dunstonh

ING isn't investing though. It's saving. Do you want to invest or save?

carnet

As the OP says that he/she doesn't want to put it away for more than a year, "investing" is not really an option.

Deposit is the only place for such a relatively short-term.

dunstonh

Good spot on the 1 year bit carnet. I missed that because of the mention of GEBs which tend to be 5-6 years.

tomstickland

I've been looking into this. If you want to invest then I suggest buying into a range of funds via an online internet broker. The Bestinvest website contains a lot of general advice, but they don't offer commission refunds, so I'd buy elsewhere.

Martin's article on it: http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1080463348,20132,

I'm favouring Cavendish myself at the moment.

carnet

tomstickland wrote:

If you want to invest then I suggest buying into a range of funds via an online internet broker. The Bestinvest website contains a lot of general advice, but they don't offer commission refunds, so I'd buy elsewhere.

As mentioned above, the OP doesn't want to put the money away for more than a year, so investing into funds is simply not appropriate.

PS. Not only do Bestinvest not offer any renewal commission kick-backs, their IC discounts on many funds tend not to be as generous as can be obtained elsewhere.