Compensation cheque recieved - Where to put it?

nokinidea

Yep, the S&S ISA I was thinking about (to make my life easier) was with the same bank so could transfer that fine.
I was thinking of the "Income" fund from this page
www. natwest.com/personal/investments/g1/tax-efficient-investments.ashx
Which appears to spread it about as suggested.

She does have plenty of other "stuff" going on and coming in that didn't go tits up like her investment in Key Data has. That was all organised by an IFA who came round and sorted it all out for her, but after seeing how much of a "cut" he took last time, she's adamant she's not doing that again, so instead rested it on my shoulders (Cheers Mum) :mad:
So immediate access to cash isn't an issue

jimjames

nokinidea wrote: »

Yep, the S&S ISA I was thinking about (to make my life easier) was with the same bank so could transfer that fine.
I was thinking of the "Income" fund from this page
www. natwest.com/personal/investments/g1/tax-efficient-investments.ashx
Which appears to spread it about as suggested.

She does have plenty of other "stuff" going on and coming in that didn't go tits up like her investment in Key Data has. That was all organised by an IFA who came round and sorted it all out for her, but after seeing how much of a "cut" he took last time, she's adamant she's not doing that again, so instead rested it on my shoulders (Cheers Mum) :mad:
So immediate access to cash isn't an issue

I would suggest that a S&S ISA with Natwest isn't the best idea. The fund choice will be limited and the charges high. Curiously the page on their website quoted above doesn't give any information about costs or charges - not exactly a great advert for them!

Something like Hargreaves Lansdown or Best Invest will give a much bigger range. You can then invest in somerthing like the Artemis Income fund which would give 4.1% yield at present. You also have the option for bond funds which may be less risky than share based ones.

agrinnall

I would strongly recommend that you read the MSE Savings pages http://www.moneysavingexpert.com/savings/ to get some idea of the best ISA and non-ISA accounts, none of which are currently with NatWest. Doing an ISA transfer is no more difficult with a different provider than with the same one, they do all the work so you should also research S&S ISAs before simply plumping for a NatWest one.

nokinidea

EDIT*
I can't be bothered with it to be honest.
When I mention transferring the £5100 she's got in her current ISA earning 0.5% into the Principality one earning 2.8% she goes off on one about having never heard of them and storms off.
So I've told her to sort it out her self if she wont take anything on board.

Archergirl

Why does she think people work for nothing?
I have found Nationwide very helpful with investing, but I do agree with you, sometimes parents can be a pain, let just tell her and let her get on with it herself.

Riverdon

Hi I'm looking for any up to date information about key data compensation?

My elderly parents had put most of their savings into a key data account but only found out last year that the company was in difficulty. Their compensation claim is in process and the FSA have been helpful although their financial advisor who set up the investment has been slow to react.

Any advice, guidance or insight from anyone who has gone through this would be helpful. I can pass this on to my parents

Thanks
RD

jamesd

nokinidea, maybe she's heard of NatWest? Their eISA pays more than that and can be operated by phone, though not in the branch.

If she was willing to use the S&S ISA the sort of funds that might be used and their yields include:

9.6% Marlborough High Yield Fixed Interest
7.9% Newton Global High Yield Bond
7.2% Newton Higher Income
6.6% Invesco Perpetual Monthly Income Plus (pays monthly)
6.2% Invesco Perpetual Distribution (pays monthly)
3.9% Invesco Perpetual Income

Those yields are historic and not guaranteed. The capital value varies, by as much as 40% in some of them. She'd use many different funds, not just one.

Merely eight to nineteen times the rate she's getting now. Of course she'd have to use a place like Hargreaves Lansdown, which also accepts instructions in writing and by phone as well as online.