‘Review your ISA’ fixed Isa 7% - scam?

dunstonh

Crt187 wrote: »

Hi. There is a post in Facebook offering a 3yr fixed rate isa with Astute. I've spoke to a chap who says it is '100% Asset backed for investor capital protection'. Is this also a scam please?

MSE gets worried if we use the word scam. Indeed, they will often completely remove the post losing any other useful information that goes with it.

So, we cant say its a scam.

However, we can say that it has no FSCS protection and you have 100% loss potential. It is a very high risk unregulated investment. Far higher risk than investing in a FTSE index fund for example. If you woudlnt do that, then you wouldnt use this.

londoninvestor

dunstonh wrote: »

However, we can say that it has no FSCS protection and you have 100% loss potential. It is a very high risk unregulated investment. Far higher risk than investing in a FTSE index fund for example. If you woudlnt do that, then you wouldnt use this.

Can we say it's a Bargepole Bond?

Seriously OP - have a look at the "London & Capital Finance" thread on the Savings & Investments board, and you'll see where this kind of product can get you.