1 yr fixed bond & L&G capital growth bond

kjmtoday

Hello all

Advice please. I have today signed for one year on 5.5 % fixed bond 50k and 50 k on L&G capital protection growth bond ( with 5ys guarantee)

Of course very cautious and ifa from A&L where I banked,

Many thanks

dunstonh

ifa from A&L

A&L retail L&G financial services products. Are you sure its an IFA you saw and not a tied/multi-tied sales rep?

Product isnt great. Charges can be easily beaten. Its not very tax efficient for most people and it uses L&Gs With Profits fund. Personally, the only two WP funds worth considering are Pru and NU. The rest should be avoided, including L&G.

If it was an IFA, how did they justify the L&G one over Pru and NU? How did they justify not doing a S&S ISA which is far more tax effcient? Why are they using life funds and not unit trust funds? If its not an IFA, they dont have to justify most of that as they are sales reps for L&G. If its not an IFA and you thought it was, have they misrepresented themselves to you?

kjmtoday

Hi
My mistake looked on business card was A&L financial planning manager. I do have 30 days to cancel so if this was a bad investment then i will.
Thanks for any info

Baldur

kjmtoday wrote: »

Hi
My mistake looked on business card was A&L financial planning manager. I do have 30 days to cancel so if this was a bad investment then i will.
Thanks for any info

If you read through dunstonh's post, you will find that you have probably had the necessary info - no recommendations are made on these boards but, generally speaking, the limited range of products offered by bank/building society 'advisers' is best avoided.

kjmtoday

Pru better

kjmtoday

Where would the best place to put 100k no risk?

ray123

Northern rock. Is it not offering a 100% guarentee on all savings?

kjmtoday

so are they guaranteeing all 100k and whats their interest rates. If I cancel with A&L legal & general will I get any penalty? does the 30 day guarantee mean 100% refund?

Cheers

Baldur

kjmtoday wrote: »

so are they guaranteeing all 100k and whats their interest rates.

The full amount deposited in Northern Rock is currently guaranteed by the Government - check their website for rates http://www.northernrock.co.uk/savings/

If I cancel with A&L legal & general will I get any penalty? does the 30 day guarantee mean 100% refund?

You invested a significant amount and didn't read the Terms & Conditions?

kjmtoday

Yes..30 days right to cancel.