Please can you give advice

stevie_show

Hi all,
looking for a bit of advice a friend has about £2K to invest cash plus £50 a month, looking to help with university cost in 4 to 5 years thinking about the 5 year virgin, or a isa but I am sure you can do much better .
Any advice very much appreciated,
Thank you in advance.
and all will be thanked

kenshaz

Tax,must be a consideration,therefore with £2000 which is below the limit,a cash ISA or a tracker ISA which offers low fees.Halifax 5% for the cash ISA or Virgin for the tracker, See Martins article on the fountain and saving ,remember,clear your debts first,pointless saving ,when you are paying high interest rates to another

dunstonh

Virgin have a dire fund range giving limited options.

cheerfulcat

Hi,

stevie_show, to be honest I think that with a relatively short timeframe like that and assuming a newbie investor, not to mention the requirement for a more or less fixed sum, your friend would be best off going for a savings account rather than the stock market. There are still many high interest rate regular savings accounts available.

http://www.moneysupermarket.com/savings/SavingsResults.asp

This is only my opinion, of course.

HTH

Cheerfulcat

PBA

stevie_show wrote:

looking for a bit of advice

Then you are looking in the wrong place. Get you friend to book an appointment with an advisor at his bank. They'll go through his tax situation and attitude to risk and recommend suitable plans. Of course they'll only be able to recommend their own products, but after hearing their recommendations he can look at other similar products in the marketplace to see which is the best for him.

dunstonh

Get you friend to book an appointment with an advisor at his bank.

That has to be the worst advice. Why go to a bank tied advisor who is not authorised to discuss portfolio planning or make fund recommendations? - ignoring the fact that it isnt an investment product that is needed.

stevie_show

thanks to all loking at the b+b christmes saver

cheerfulcat

PBA wrote:

Then you are looking in the wrong place. Get you friend to book an appointment with an advisor at his bank. They'll go through his tax situation and attitude to risk and recommend suitable plans. Of course they'll only be able to recommend their own products, but after hearing their recommendations he can look at other similar products in the marketplace to see which is the best for him.

Just in case the OP takes this seriously; this might as well read " get your friend to book an appointment with a spotty youth at the nearest McDonald's ".