ISA Investment with Astute

Cecilia66

Could someone please advise on a company called Astute paying 8% on a 3 year ISA? High risk!!

george4064

Advice?

Stay away and invest with a genuine company with a reputation.

jimjames

Cecilia66 wrote: »

Could someone please advise on a company called Astute paying 8% on a 3 year ISA? High risk!!

Funnily enough there was an advert this weekend

https://damn-lies-and-statistics.blogspot.com/2019/02/astute-isa-review-genuine.html

The risk warning is tiny but you really need to see it because it's an unregulated investment where you can lose all your money. Just ask any investor in LCF waiting to hear if they'll get anything back to know how that feels.

Misleading doesn't really go far enough to describe it when it's comparing cash to the amount they're offering which isn't fixed. If they go bust you won't get that or all your money back.

Alexland

I don't know anything about this product but 8% seems to be the sweet spot for most scams to net the most people for any given advertising spend. It's a number big enough to get your serious attention but low enough to be almost believable. As such you should be extremely suspicious. Other people have suffered big losses with similar products.

AnotherJoe

Cecilia66 wrote: »

Could someone please advise on a company called Astute paying 8% on a 3 year ISA? High risk!!

If you are looking for a much riskier investment than the stock market, one with the potential to lose all your money with zero redress, this is the one for you.

DrSyn

The interest rate of 7.5% says it all.

ANYTHING offering almost twice that of the FTSE which is about 4%, is either

(a) if legal, high risk.

or

(b) a scam.

Either way it is best avoided.

webjaved

You do tend to see these type of ads on Facebook. I'd stay away from them.

Crt187

Thank you for the responses.

jimjames

It also appears to be promoted via a site called Savings Explained which fails to point out that this ISA is not savings and that you are at risk of losing all your money should they fail. It might not be a scam but it's against FCA regulations to not mention that capital is at risk in your advertising as LCF found out to their cost.

https://damn-lies-and-statistics.blogspot.com/2019/02/savings-explained-scam-reviews.html