need advice for son

ozzage

My feeling is that you'd be crazy if you DIDN'T see an IFA.

It's easy for people who have a lot of knowledge to say it's not worth it, but since you say yourself that you know very little about banks, ISA and so on then it's probably going to end up costing a lot more than an IFA will charge if you make your own decisions (or listen to some Uncle who "knows about money" or the like).

£45K invested properly for a 16yo can set them up for a nice life.

sabretoothtigger

I wonder if all pensions pay out if the account holder passes away before collecting, never thought of that.

Sounds like a tragic story, I do think your sons interests are best served by some proper advice. This forum is only good for general heads up on things, see the CAB to start maybe and ask their opinion