NS&I Index Linked Certs closed for new applications

Hungerdunger

lisyloo wrote: »

I'm not educated (or particualry insterested) in that area, so I let someone esle do it.

Not too hot on proof-reading either

missile

balf wrote: »

As to previous post on financial advisors, it is worth remembering that just as grocers have as a first priority, their profits, so it is with FI's. Some are good, I had a good one for 40 odd years, but even there, when I look back and ballance the winners against the losers, I realise that I could have done better managing my finances alone..

I don't understand this :think:

If you had a good advisor for 40 years, why do you think you could have done better on your own?

Any IFA will propose an investment strategy based on your attitude to risk. If you knew better why did you not tell him invest in x,y,z

lisyloo

Not too hot on proof-reading either

Agree with you hungerdunger :j

Luckily that doesn't affect decades of my retirement.
So it's about working out where to put your efforts n'est ce pas??

balf

missile wrote: »

I don't understand this :think:

If you had a good advisor for 40 years, why do you think you could have done better on your own?

Any IFA will propose an investment strategy based on your attitude to risk. If you knew better why did you not tell him invest in x,y,z

I know I could have done better only with the benefit of hindsight. Advisors exist to sell financial products and that is why they so often lose money for clients. And do most clients fully understand the products they sell..... do most anvisors.
It does not matter what your attitude to risk is a loss is still a loss and is damaging.

David.

Mickygg

balf wrote: »

I know I could have done better only with the benefit of hindsight. Advisors exist to sell financial products and that is why they so often lose money for clients. And do most clients fully understand the products they sell..... do most anvisors.
It does not matter what your attitude to risk is a loss is still a loss and is damaging.

David.

I totally agree - a loss is always damaging. I have over the years seen some shares I would have liked to invest in - some of which are now doing pretty well, but I personally can't and do not want to risk losing my capital - I have worked too hard for it to risk losing it. I could have used an advisor, but I just don't trust them enough.

That's why these ILSC's were good - no risk to the capital sum, but the potential to earn a good return. I hope they bring out another issue relatively soon.

StevieJ

balf wrote: »

I know I could have done better only with the benefit of hindsight.
David.

I think we all could, 20/20 vision from that rear view mirror

eegg7777

Today I registered a formal complaint to NS&I for the withdrawal of their Index-linked certificates.
My reasons: I am retired and, at my age and income level, I cannot afford the risk of investing in shares. And any other safe investment is bound to be eroded by inflation.
I intend to write to my MP as well. NS&I claim that "we aim not to distort the wider savings market." Since when competition became distortion? The banks could easily have products that return inflation+1%. Actually, they routinely do, but, instead of giving the profits back to customers, they keep it to themselves as bonuses.

cvd

Today I registered a formal complaint to NS&I for the withdrawal of their Index-linked certificates.

I seem to remember NS&I used to offer certificates which were only open to people above retirement age. So that is a compromise you could suggest.

dunstonh

Today I registered a formal complaint to NS&I for the withdrawal of their Index-linked certificates.

A waste of time and money.

The banks could easily have products that return inflation+1%.

No they cant. Most of the products that have offered this have been withdrawn as the cost of insurance has become too expensive or unobtainable.

Actually, they routinely do, but, instead of giving the profits back to customers, they keep it to themselves as bonuses.

You need to change your source of news. You sound like someone brainwashed by the Daily Mail.

spike87

How can you complain to NS&I? It's their product, if they want to close it they can!