should I move my cash ISA

chrisstevo79

I'm by no means a financial expert but have a basic understanding of financial services.

Over a year ago I was invited in to my local branch of halifax to speak about setting up an ISA investor. I informed the financial advisor that I only planned to keep my savings for about a year and a half as I was saving for a mortgage.

He recommended an ISA investor and I started putting in a few hundred quid a month. As the market has been consistently poor peforming I now find myself at a point where I'm near to having to take the money out and I am significantly out of pocket.

I arranged a meeting with the said financial adviser recently and he stopped further payments on my request, gave no explanation or apology for bad advice and had me out the door within 3 minutes.

I have since sought advice from 2 separate independent financial advisors and have been informed that I should never have been advised to take up that product given my circumstances and now feel very let down.

I have complained to Halifax and they are 'investigsting'.

Has anyone else suffered at the hands of Halifax with similar rubbish advice?

penelopea

Heres a thing.
I have my ICESAVE CASH ISA money washing around (thankyou Gordon for saving it for me ). Can I transfer this into a STOCKS AND SHARES ISA.Is it possible to move cash isa money into stocks and shares ISA?

nrsql

chrisstevo79 wrote: »

I'm by no means a financial expert but have a basic understanding of financial services.

Over a year ago I was invited in to my local branch of halifax to speak about setting up an ISA investor. I informed the financial advisor that I only planned to keep my savings for about a year and a half as I was saving for a mortgage.

He recommended an ISA investor and I started putting in a few hundred quid a month. As the market has been consistently poor peforming I now find myself at a point where I'm near to having to take the money out and I am significantly out of pocket.

I arranged a meeting with the said financial adviser recently and he stopped further payments on my request, gave no explanation or apology for bad advice and had me out the door within 3 minutes.

I have since sought advice from 2 separate independent financial advisors and have been informed that I should never have been advised to take up that product given my circumstances and now feel very let down.

I have complained to Halifax and they are 'investigsting'.

Has anyone else suffered at the hands of Halifax with similar rubbish advice?

You should post this on a new thread.

Your salesman (not advisor) sold you a product that maximised his commission - nothing to do what woud beefit you. You should be due compensation.
Don't let it drop.

nrsql

penelopea wrote: »

Heres a thing.
I have my ICESAVE CASH ISA money washing around (thankyou Gordon for saving it for me ). Can I transfer this into a STOCKS AND SHARES ISA.Is it possible to move cash isa money into stocks and shares ISA?

Yes (it is possible now).

rb10

nrsql wrote: »

You should post this on a new thread.

Look at the date it was posted

Then go to chrisstevo79's profile and see when he last logged in: 7 minutes after making that post.