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Standard Life Investment ISA
Mattr780
Posts: 3 Newbie
I have more than 20K in my Santander 123 account so I am looking to transfer some into an ISA, why does MSE not recommend investment ISA's if your not over your CGT allowance? over the last 3 years SL's easy option investment ISA is making 9.8% even if I get taxed this should be well over any cash ISA. I am a 40% tax payer.
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Comments
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There are literally thousands of investment options. Recommendations would require MSE to give advice and with that comes regulatory requirements so it's down to individuals to choose. MSE can't even get the advice for cash ISAs right so it's unlikely they'd be able to get anything as complex as investments covered at the right level.
Investments aren't guaranteed so they are not comparable to a cash ISA and the fund you think is suitable for you is not suitable for everyone - it's certainly not one I'd want for example.
S&S ISAs are a good idea for many people who have built up sufficient cash emergency funds but CGT isn't really a driver for them.Remember the saying: if it looks too good to be true it almost certainly is.0 -
If you are planning this you might want to open it via a cashback site. - £50 for free!
http://www.topcashback.co.uk/standard-life-new-isa/0 -
why does MSE not recommend investment ISA's if your not over your CGT allowance?
it is not authorised to do so. Plus, MSE has got its fingers burnt a bit with regulated investments previously so its kept out of them since.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
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