Mis-sold ISA

RedFraggle

bigadaj wrote: »

It's a reasonable point to debate and the irrelevant point about a formal apology has offset the topic.

Given that the investment doesn't seem to match her risk profile or needs then it seems an obvious solution, cash out now and take the additional profit that has accrued from the investment. Though logically she should be taking the lower value as that would match her risk profile in terms of not investing.

However it sounds as though she is very risk averse and so the realistic options for the monies is either a series of current accounts to get 3-5% interest with checking of terms and conditions and direct debts etc or 1-1.5% on normal savings accounts, ns&i being the easiest option.

Thank you, that's very helpful.

G_M

Why does nobody these days take any responsibility for their own actions and decisions?

It's common sense that before signing a contract, buying a product, whatever, you first ask yourself "Is this what I want?"

And to answer that question for yourself, you first have to understand what the product is.

Might as well ask for your money back, and an apology, because you bought a brand new moped but nobody warned you it would take 8 hours to drive from London to Oxford and you couldn't use the motorway.

IronWolf

If she is not comfortable with the possibility of losses with the product then she should cash out now. She's fortunate enough that it is now worth more so I'd just leave it at that, not worth the extra hassle of complaining about them really.

rpc

RedFraggle wrote: »

Given that the money has already been sat there for a few years and she doesn't need immediate access to it is she best to leave it in for another 3 years rather than moving it? She can't really afford to lose it though so the fact that it's investment worries me a little.

You (she) have ~£20k. Forget where it is at the moment, but you have that much cash. Is this product where you would invest it now?

If this £20k was sitting around in a poor bank account, where would you choose to invest it? The answer to this question is where she should put it...