Where to invest money?

daughter1_2

Hi,

My mother has alot of money to invest. Her bank manager and the fiancial guy are trying to persuade her to invest £100.000 into all sorts of stocks and shares etc and coming down hard on her. After her commision we think!:mad:

Where should she invest it? I'm not happy with the shares route as I think she could lose it all. She does has more than the above amount also.

Any help would be greatly appreciated.:j

Thank you:rotfl:

Lokolo

I would go and see an IFA and see her options. Gambling on the stock market is very iffy at the moment as the FTSE is going to be all over the place (even so more than usually is).

daughter1_2

Thank you.

She had a meeting today with her BM and IFA. She felt they were like salesmen trying to take her money. She told them that waht they were talking about was going way above her head and that she did'nt really understand. The BM said that he does'nt understand photocopiers and so that is why he goes to a photocopying shop so they can do it for him. She said to him I think this is a bit different.

Can we really trust these people??

Thanks
D1

Aegis

daughter1 wrote: »

Thank you.

She had a meeting today with her BM and IFA. She felt they were like salesmen trying to take her money. She told them that waht they were talking about was going way above her head and that she did'nt really understand. The BM said that he does'nt understand photocopiers and so that is why he goes to a photocopying shop so they can do it for him. She said to him I think this is a bit different.

Can we really trust these people??

Thanks
D1

Is the financial adviser really independent? If he's working in a bank, then the chances are that he's actually a tied adviser. Ask your mother if you can take a look at the initial disclosure document that they supplied her with as part of the appointment. If they didn't supply this, they have contravened FSA regulations and you should look elsewhere. If they have supplied it and have any box other than "We can supply products from the whole of market", then they're not independent and you should probably look elsewhere.

Check https://www.unbiased.co.uk for a local IFA, who will be able to match suggestions to your mother's objectives and risk profile.

Bazn

dont do it - bank advisers are often sly salespeople that you should be very cautious about. i agree it is totally different to the photocopier analogy.

as a simple rule, with any investment that you actually care about:

if you don't fully understand it, then don't do it.

feel free to extract as much info as you can from advisers or anyone else, but until you understand something (be it shares, bonds, vintage cars or classic violins), you shouldn't invest in it

easiest thing to do is stick it in a savings account

jem16

Bazn wrote: »

easiest thing to do is stick it in a savings account

Might be easiest but not necessarily the best option. Inflation will soon eat into the amount and could open up all sorts of tax implications.

See a proper IFA as Aegis has suggested. Investing isn't all about shares.

dunstonh

dont do it - bank advisers are often sly salespeople that you should be very cautious about.

Thats harsh. A better generalisation is that they are low skilled salesmen or trainee advisers.

She had a meeting today with her BM and IFA.

Highly unlikely she had a meeting with a bank manager and an IFA. The bank manager wouldnt want an IFA involved as they IFA would rubbish the bank products. The bank manager would have used their own in house tied insurance rep.

Bazn

dunstonh wrote: »

Thats harsh. A better generalisation is that they are low skilled salesmen or trainee advisers.

sorry yes i was harsh.... low skilled salesman is a more accurate description. apologies... i have had recent bad experiences with mobile phone salesmen and unfortunately i have let that tar my image if all salespeople!

jem16 wrote: »

Might be easiest but not necessarily the best option. Inflation will soon eat into the amount and could open up all sorts of tax implications.

See a proper IFA as Aegis has suggested. Investing isn't all about shares.

i didn't say best! definitely easiest though.

ok yes seeing a proper IFA sounds a good idea, but i would still be unwilling to risk my life savings unless the IFA explained things fully enough for me to understand...