Lump Sum Investment

socrates

My uncle is a basic rate tax payer - he has inherited some money (around £100k)

Followed all the advice on here about instant access accounts (Vantage) etc, cleared all CC's - is under 50 years old and has paid £3600 into a FD Cash ISA.

Leaving around £60k.

He plans to max the ISA in April - are Stocks and Shares ISA's worth looking at - as he is a basic rate tax payer?

If so which Company should he look at?

Any other ideas?

He is happy to put around £30k into something a bit more long term with an element of say medium risk.

Any further information required please let me know.

Many thanks in advance for any suggestions

Jonbvn

Your uncle needs to clarify what (and when) he is saving/investing for and his tolerance for risk.

What is his pension provision like?

Does he have a mortgage and if yes, what is the rate?

An S&S ISA is just a tax-free wrapper. The key is what it will actually contain. Could be stocks, bonds, funds, ETF's etc.

Perhaps consider some index linked savings certificates from NS&I?

Perhaps consider a visit to an IFA - although the sum involved is a bit on the low side for this.

Maypole_FS

Perhaps he could seek the advice of an independent financial advisor, many offer the first discussion as free with no obligation to continue if your uncle is not happy with the advice received. All advice should be put in a report for your uncle to read at his own pace.

socrates

Jonbvn wrote: »

Your uncle needs to clarify what (and when) he is saving/investing for and his tolerance for risk.

What is his pension provision like?

Does he have a mortgage and if yes, what is the rate?

An S&S ISA is just a tax-free wrapper. The key is what it will actually contain. Could be stocks, bonds, funds, ETF's etc.

Perhaps consider some index linked savings certificates from NS&I?

Perhaps consider a visit to an IFA - although the sum involved is a bit on the low side for this.

He does not have a mortgage.

And the comment about the IFA is correct its a bit on the low side.

He does not have any interest in pensions (do not ask me why)

Will get him to look into NS&I

dunstonh

30k is still fine for an IFA. Not so much the employed IFAs or a city IFA maybe but a rural IFA who is self employed or has their own firm. It really depends on their business model. I know some that wont be interested in anything less than £50k whilst others do as little as £5000.