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IFA Recommendations - Comments
Comments
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What's the strategy for mixing Income and Accum. funds?
availability most likely. Not all funds are available in INC units. I dont know if that is the case here but it probably doesnt matter if capital withdrawals are being planned for future rather than natural income (which can be more tax efficient as the capital withdrawals can come under the annual CGT allowance and natural income reinvested to buy more units or be reflected in the unit price).I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Since there's no plan to take an income I (not an IFA) would choose accumulation funds until there's some need for income. At least one fund - Invesco Perpetual High Income - is available in both income and accumulation versions. The IFA might be trying to avoid switching funds later or might have some other reason for wanting income to be paid, can't say which it is.
Since the money is in an ISA there won't be any CGT to pay so that can't be a reason.0
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