Is this acceptable?

innovate

craftmoney13 wrote: »

I didnt even decide to change things, it was the Halifax asking me to meet with a FA to help my money work better for me (their words).

I think I know what you mean but fact is you did decide - first, you decided to accept their invitation, and second, you decided to buy what they were selling you.

craftmoney13 wrote: »

I will be leaving things as they are now but I just feel that he did this sale for his own good, not looking at the return I had on my original products and I feel that the Halifax have not given me the service I expect from a bank that I have been a good customer of for many years.

You are probably right that the guy had just his own interest in mind - many sales people are just like that. But your expectations look set too high - investments are for the long term and a downturn over a few months doesn't necessarily mean it was a bad decision overall. Most likely you could have made a better decision, but with any investment, you are taking the risk that particularly the short term performance might be worse than you want it to be.

innovate

jackyann wrote: »

..... have just one stocks & shares ISA - with an ethical provider......

How do you define an 'ethical provider', can you name them? What are the stocks and shares in the ISA?

Gromitt

jem16 wrote: »

Still waiting to hear what ROI stands for?

Seriously?

http://en.wikipedia.org/wiki/Return_on_investment

(Also list some other common abbreviations)

craftmoney13

jem16 what I have is a capital protected fund 21 shareclass M accumulation and cautious growth shareclass D accumulation. As advised I need to really look into what I have etc. I thought it was all tax free but not sure if they are both ISA. One is, the other is OEIC whatever that means.

jem16

craftmoney13 wrote: »

jem16 what I have is a capital protected fund 21 shareclass M accumulation and cautious growth shareclass D accumulation. As advised I need to really look into what I have etc. I thought it was all tax free but not sure if they are both ISA. One is, the other is OEIC whatever that means.

I wasn't referring to the investments you took out with Scottish Widows. I was referring to the ISA that you mentioned was performing ok and that you wished you had left as is.

jem16

Gromitt wrote: »

Seriously?

Yes I was serious. I have heard a few definitions of the acronym and wanted to check how it was being used in connection with a final salary pension.

xylophone

sure if they are both ISA. One is, the other is OEIC whatever that means.

OP you seem very confused - an OEIC is simply an Open Ended Investment Company http://www.thisismoney.co.uk/money/investing/article-1583957/Unit-trusts-and-Oeics.html

You can hold units in OEICS within your ISA and outside.

Can you say what exactly you had before taking advice from the FA and what you have now?

dunstonh

how can we be expected to look into all the financial options out there, it's a minefield, yes I took advice from someone who was experienced in his field.

If you cant do the research then you use an IFA. You didnt and used an FA. So, instead of the market place which you call a minefield, you chose a distribution with the quality of a Tesco beefburger from a range of about 10-15 products/funds and Halifax almost have to be congratulated for having so many poor quality options. How they manage to do be so consistently bad is a wonder in itself.

He must have known that Scottish Widows was one of the worst performers but he was just focusing on the commission/sale.

No. He was employed by Scottish Widows (effectively). He was an agent of theirs. It is all he could do.

craftmoney13

What I had was a S+S ISA with Architas and a savings account with Halifax.

atush

Gromitt wrote: »

Seriously?

http://en.wikipedia.org/wiki/Return_on_investment

(Also list some other common abbreviations)

and here i was thinking (not having read your previous post) it stood for the republic of ireland.