Investing with a Power of Attorney

moorett

Can anyone help. I'm looking for a good rate ISA for £3000 for my father's money. I have a properly certified Enduring Power of Attorney but am getting treated as though I have some sort of deadly disease.

Does anyone know of a company I could talk to? For this small amount of money, I begrudge paying fees for an independent financial adviser but am hitting brick walls.

Thanks.

oscarhugo

Nationwide is one of the ones that will let you open accounts under POA. Their 'Members ISA Bond' [or whatever it's called] is fairly competitive. It pays more than their standard cash ISA but you have to give 30 days notice to get your money out [but then if it's your Dad's money you're probably not going to be rate-chasing too much].

(just another thought -- if your Dad's a non-taxpayer then you ought to sign to get interest tax-free on ORDINARY savings accounts - some of the gross rates available are comparable with cash ISA rates).

yorkshire_ria

I had a similar situation for my father in law & it was relatively straight forward with Barclays. There is some info on POA in their help centre on the https://www.barclays.co.uk/personal web site.

If your dad/you're not Barclays customers, you'll need ID (full passport/driving licence/etc) & confirmation of addresses for both of you. Take this with the original or certified copy of a POA to a local branch. They'll complete an application with you & all done.

I'd recommend going to a bigger local branch who will be more familiar with dealing with type of query.