CIS mini isa

echo

invested in stocks and shares.i've had it since 2001 but in the last year it has gone down in price by £300 because of the markets.i know it's a long term investment ( they say 5-10 years) but would it be worth taking the money out and investing elsewhere cos the markets might pick up but that could be years away.i don't know owt about the markets but i don't want to keep losing money.any advice will be welcome.i do have a financial adviser from the CIS coming next week but obviously he'll only tell me to leave things as they are/change to another product and i really need independant advice.

Lokolo

How much did you put in there?

echo

initially £1995 and today it's worth £4474

dunstonh

i do have a financial adviser from the CIS coming next week but obviously he'll only tell me to leave things as they are/change to another product and i really need independant advice.

If you need independent advice why are you seeing a tied insurance agent from the CIS?

Your CIS agent isnt a real financial adviser. Indeed, from next year tied agents wont be able to call themselves adviser or give financial advice. So, why not work to those rules now and dump the CIS insurance rep.

Aegis

echo wrote: »

invested in stocks and shares.i've had it since 2001 but in the last year it has gone down in price by £300 because of the markets.i know it's a long term investment ( they say 5-10 years) but would it be worth taking the money out and investing elsewhere cos the markets might pick up but that could be years away.i don't know owt about the markets but i don't want to keep losing money.any advice will be welcome.i do have a financial adviser from the CIS coming next week but obviously he'll only tell me to leave things as they are/change to another product and i really need independant advice.

From what I've seen of them, CIS ISAs suck. However, if you've been paying in since 2001 there would be no sense in losing the tax-free benefits you've accrued, so you might well be better off applying for a better stocks and shares ISA and transferring there instead. If you're willing to do research and a bit of legwork, Hargreaves Lansdown are an excellent self-select fund supermarket with a great stocks and shares ISA available. If you prefer someone else to put a portfolio together, then look for a local IFA on unbiased.co.uk and see if they're willing to take a look.

Do NOT go to another tied adviser, or you'll end up with more of the same!

echo

the reason why i stuck with them is cos they've been ok ( unlike the britannic) and the isa was doing really well.wasn't really sure where else to look and i don't wanna be losing anymore money if i can help it.i don't suppose it'll do any harm him coming and telling me what he THINKS i should do

echo

god that unbiased site is complicated

Aegis

echo wrote: »

god that unbiased site is complicated

Don't tick any of the options, just search for all local IFAs and do a little phone around.

echo

there are all of 2 companies in my area.one of them is a 2 woman partnership affair and when i click to go to the site of the other one it says page has been removed and that leads to another site called mint financial services which is in derbyshire-and miles away from here

dunstonh

postcode only is all you need to put in. Ignore the qualifications filter as its highly flawed. i.e. if you select FPC as the qualification it will ignore all those with CEFA or other equal versions. Or if you select G60 it wont show all those with J05 which is a newer version.

there are all of 2 companies in my area.one of them is a 2 woman partnership affair and when i click to go to the site of the other one it says page has been removed and that leads to another site called mint financial services which is in derbyshire-and miles away from here

Chances are you are using filters. Dont.

echo

all i did was put my postcode in ( didn't tick owt) and those were the results.not much choice i must say