Nat west stocks and shares ISA..Should I carry on with it?

steveengland

Hi all,
I currently have a Nat West investment funds ISA which I started two years ago and to be honest the return for what I have paid in has been £12 quid more that the actual amount I have paid in!!!!!
I did cancel the payments last month and was wondering if I should re start paying into it?
I am self employed so I thought it was a way of paying less tax at the end of the year by paying into an ISA...is this correct?
Should I stop as it's such a pants return so far or is there some other better options such as an ISA thats not linked to stocks and shares?

Regards

Aegis

steveengland wrote: »

Hi all,
I currently have a Nat West investment funds ISA which I started two years ago and to be honest the return for what I have paid in has been £12 quid more that the actual amount I have paid in!!!!!
I did cancel the payments last month and was wondering if I should re start paying into it?
I am self employed so I thought it was a way of paying less tax at the end of the year by paying into an ISA...is this correct?
Should I stop as it's such a pants return so far or is there some other better options such as an ISA thats not linked to stocks and shares?

Regards

ISAs linked to stocks and shares are quite a good idea for investing. ISAs linked to stocks and shares which are sold to you by banks are not such a good idea!

If you have a reasonable amount, see an IFA. If you want to go it alone, then transfer (NOT withdraw) the existing balance to a self-select ISA and get into some good investment options.

PokerPortal

Aegis wrote: »

ISAs linked to stocks and shares are quite a good idea for investing. ISAs linked to stocks and shares which are sold to you by banks are not such a good idea!

If you have a reasonable amount, see an IFA. If you want to go it alone, then transfer (NOT withdraw) the existing balance to a self-select ISA and get into some good investment options.

Why are ISAs linked to stock and shares which are sold to us by banks not such a good idea? I assume they charge a higher fee/commission? Or are they not as knowledgable?

After a period of investigating I've decided to top up my pension with shares and stocks ISAs. I don't know anything about investing like this at all. Can I just see a local IFA and ask them to do it for me? I don't have the knowledge to go for a self-select ISA (yet).

dunstonh

Why are ISAs linked to stock and shares which are sold to us by banks not such a good idea?
I assume they charge a higher fee/commission? Or are they not as knowledgable?

Bank funds tend to be poor performers. Plus, tied agents do not portfolio plan in the same way an IFA does. So, they tend to stick all your money in just one or two funds. And their skills and knowledge are usually weaker.

Do you want to get advice from an insurance rep who has between 4 and 10 funds available typically or an adviser who has the whole of market where 2000 odd funds are available (although that is usually reduced to 1000 when you remove the chaff).

Bank products are typically more expensive as well.

Can I just see a local IFA and ask them to do it for me?

yes