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Savings and Investments thread
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Not true. As long as you only take the 25% tax-free lump sum then you can continue paying into workplace schemes and/or a private pension. Its just if you take more than the 25% you are then restricted to £4k pa.Rob7Lee said:Sorry, never heard of any of them - I'm sure Golfie can do Zoom etc!?
I think I'm right in saying once you take 25% you'll be restricted to paying in a maximum of 4k a year into pension.3 -
I've often used Royal London for this same reason. Their charging structure means that you shouldn't be paying anymore than 0.45% as long as you stick to their funds - or use their Governed Portfolios, which are risk rated and very popular.HardyAddick said:Not heard of any of them. Just moved my pensions to Royal London via an IFA. Showed me a number of options but Royal London was ok with both of us. Charge is 0.4%pa. Can take drawdown when I want but no need to now. Not taking 25% tax free now as don’t need the cash.0 -
I've heard of True Potential as I think they joined the Network I'm with. Probably not "truly" independent as many Network firms want to keep Compliance to a minimum & so "Restrict" the advisers to a limited number of providers & funds.Showmetheway2gohome said:Looking for IFA now I’ve just turned 54 as Golfie advised before but I’ve held off to now as I plan to look at transferring into a drawdown. Which I couldn’t do to 55I’ve got 2 Frozen pensions £110000 with prudential and £34000 with Aviva which has apparently got 4% guaranteed yearly bonus.Then my work Penision I’m paying into now with prudential. But this only been going 2 years since they froze the previous one because it was outdated.I want to take 25% of my prudential pot or around £25000 next year at 55 hen transfer the rest into the Aviva pension or a new drawdown pension and start paying into it.So I’m looking for an advisor have been looking on unbiased.Looked at 3 firms from there recommendations
1)
True potential wealth management
but they are not totally independent
2)
Fairstone financial
3)
arlo Group
Has anyone had experience with these companies or can recommend someone I’m in Yorkshire so unfortunately out of your area golfie.I tried to check them on the FCA website but could not get any results
Thanks in advance for any advice or recommendations
No idea of the other 2 but that's probably because I imagine they are 'op North...😄.
I'm happy to help @Showmetheway2gohome and as someone said, lots can be done by Zoom and via email/mobile, but I appreciate that you might want someone closer to home or to sit and talk face-to-face.
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I swung my 2 x private pensions and my ISA over to True Potential about 18 months ago and have been very happy with the service, web portal and the most important one of all, the growth.Showmetheway2gohome said:Looking for IFA now I’ve just turned 54 as Golfie advised before but I’ve held off to now as I plan to look at transferring into a drawdown. Which I couldn’t do to 55I’ve got 2 Frozen pensions £110000 with prudential and £34000 with Aviva which has apparently got 4% guaranteed yearly bonus.Then my work Penision I’m paying into now with prudential. But this only been going 2 years since they froze the previous one because it was outdated.I want to take 25% of my prudential pot or around £25000 next year at 55 hen transfer the rest into the Aviva pension or a new drawdown pension and start paying into it.So I’m looking for an advisor have been looking on unbiased.Looked at 3 firms from there recommendations
1)
True potential wealth management
but they are not totally independent
2)
Fairstone financial
3)
arlo Group
Has anyone had experience with these companies or can recommend someone I’m in Yorkshire so unfortunately out of your area golfie.I tried to check them on the FCA website but could not get any results
Thanks in advance for any advice or recommendations
I was with AEGON up to the point of transfer who were also good but the last 18 months have proved the switch was a good move.1 -
The IFA suggested a Governed Portfolio and I completed a risk profile to pick the right one. I don’t have the time or inclination to keep reviewing the markets so the IFA will do it for me on a regular basis. Their online portal is good, something other providers fail at.golfaddick said:
I've often used Royal London for this same reason. Their charging structure means that you shouldn't be paying anymore than 0.45% as long as you stick to their funds - or use their Governed Portfolios, which are risk rated and very popular.HardyAddick said:Not heard of any of them. Just moved my pensions to Royal London via an IFA. Showed me a number of options but Royal London was ok with both of us. Charge is 0.4%pa. Can take drawdown when I want but no need to now. Not taking 25% tax free now as don’t need the cash.What after moving annoyed me was that my previous pension providers failed to produce closing statements showing how the final calculations were made. My IFA said the providers rarely do so!! It’s worse than paying off a mortgage and not being given a closing statement. I won’t let this rest and my IFA won’t either.0 -
Can one of you guys who work in the City tell me what on earth is going on with the Experian share price? Huge falls for the last few days, down 10% this week and all for no reason that I can see.0
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It's a company share repurchase programme - commenced on 1 January and ends today.Fortune 82nd Minute said:Can one of you guys who work in the City tell me what on earth is going on with the Experian share price? Huge falls for the last few days, down 10% this week and all for no reason that I can see.1 -
Most of the banking stocks up around 50% over the last year - are they worth continuing to hold? Presumably interest rate rises will have an effect....0
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I don't think interest rates have much to do with the value of banking stocks tbh.hoof_it_up_to_benty said:Most of the banking stocks up around 50% over the last year - are they worth continuing to hold? Presumably interest rate rises will have an effect....0 -
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Was always led to believe profit margins were better as rates rose - possibly a myth.golfaddick said:
I don't think interest rates have much to do with the value of banking stocks tbh.hoof_it_up_to_benty said:Most of the banking stocks up around 50% over the last year - are they worth continuing to hold? Presumably interest rate rises will have an effect....0 -
You're quite right, interest rates have a huge effect on banking stocks.hoof_it_up_to_benty said:
Was always led to believe profit margins were better as rates rose - possibly a myth.golfaddick said:
I don't think interest rates have much to do with the value of banking stocks tbh.hoof_it_up_to_benty said:Most of the banking stocks up around 50% over the last year - are they worth continuing to hold? Presumably interest rate rises will have an effect....
As they go up, they can make wider interest margins between what they borrow and lend, which boosts net interest margin (NIM), one of the most important valuation metrics for a bank. The reason they are struggling to make money is that NIMs have been narrow for so long, they struggle to cover operating costs and credit risk and still make a profit.2 -
Think I'll hang onto my Lloyds shares for now.WishIdStayedinthePub said:
You're quite right, interest rates have a huge effect on banking stocks.hoof_it_up_to_benty said:
Was always led to believe profit margins were better as rates rose - possibly a myth.golfaddick said:
I don't think interest rates have much to do with the value of banking stocks tbh.hoof_it_up_to_benty said:Most of the banking stocks up around 50% over the last year - are they worth continuing to hold? Presumably interest rate rises will have an effect....
As they go up, they can make wider interest margins between what they borrow and lend, which boosts net interest margin (NIM), one of the most important valuation metrics for a bank. The reason they are struggling to make money is that NIMs have been narrow for so long, they struggle to cover operating costs and credit risk and still make a profit.0 -
Yup. And, as far as I know, not one major bank or building society has yet raised its savings rates in response to the last interest rate rise even though their mortgage rates were put up straight away!WishIdStayedinthePub said:
You're quite right, interest rates have a huge effect on banking stocks.hoof_it_up_to_benty said:
Was always led to believe profit margins were better as rates rose - possibly a myth.golfaddick said:
I don't think interest rates have much to do with the value of banking stocks tbh.hoof_it_up_to_benty said:Most of the banking stocks up around 50% over the last year - are they worth continuing to hold? Presumably interest rate rises will have an effect....
As they go up, they can make wider interest margins between what they borrow and lend, which boosts net interest margin (NIM), one of the most important valuation metrics for a bank. The reason they are struggling to make money is that NIMs have been narrow for so long, they struggle to cover operating costs and credit risk and still make a profit.3 -
Standard rates on credit cards are pretty high.Fortune 82nd Minute said:
Yup. And, as far as I know, not one major bank or building society has yet raised its savings rates in response to the last interest rate rise even though their mortgage rates were put up straight away!WishIdStayedinthePub said:
You're quite right, interest rates have a huge effect on banking stocks.hoof_it_up_to_benty said:
Was always led to believe profit margins were better as rates rose - possibly a myth.golfaddick said:
I don't think interest rates have much to do with the value of banking stocks tbh.hoof_it_up_to_benty said:Most of the banking stocks up around 50% over the last year - are they worth continuing to hold? Presumably interest rate rises will have an effect....
As they go up, they can make wider interest margins between what they borrow and lend, which boosts net interest margin (NIM), one of the most important valuation metrics for a bank. The reason they are struggling to make money is that NIMs have been narrow for so long, they struggle to cover operating costs and credit risk and still make a profit.0 -
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As always. More predictable than us losing to the SpannersFortune 82nd Minute said:
Yup. And, as far as I know, not one major bank or building society has yet raised its savings rates in response to the last interest rate rise even though their mortgage rates were put up straight away!WishIdStayedinthePub said:
You're quite right, interest rates have a huge effect on banking stocks.hoof_it_up_to_benty said:
Was always led to believe profit margins were better as rates rose - possibly a myth.golfaddick said:
I don't think interest rates have much to do with the value of banking stocks tbh.hoof_it_up_to_benty said:Most of the banking stocks up around 50% over the last year - are they worth continuing to hold? Presumably interest rate rises will have an effect....
As they go up, they can make wider interest margins between what they borrow and lend, which boosts net interest margin (NIM), one of the most important valuation metrics for a bank. The reason they are struggling to make money is that NIMs have been narrow for so long, they struggle to cover operating costs and credit risk and still make a profit.0 -
I have a number of banks shares and have all done very well the last 6 months. I'll keep them as I think in the main they'll go up.0
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PS, don't forget to get in your FTSE 100 predictions.0
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Cashed in my Barclays shares this week.hoof_it_up_to_benty said:
Think I'll hang onto my Lloyds shares for now.WishIdStayedinthePub said:
You're quite right, interest rates have a huge effect on banking stocks.hoof_it_up_to_benty said:
Was always led to believe profit margins were better as rates rose - possibly a myth.golfaddick said:
I don't think interest rates have much to do with the value of banking stocks tbh.hoof_it_up_to_benty said:Most of the banking stocks up around 50% over the last year - are they worth continuing to hold? Presumably interest rate rises will have an effect....
As they go up, they can make wider interest margins between what they borrow and lend, which boosts net interest margin (NIM), one of the most important valuation metrics for a bank. The reason they are struggling to make money is that NIMs have been narrow for so long, they struggle to cover operating costs and credit risk and still make a profit.
Kept my Lloyds in the vain hope they'll carry on upwards.0 -
Correct.WishIdStayedinthePub said:
You're quite right, interest rates have a huge effect on banking stocks.hoof_it_up_to_benty said:
Was always led to believe profit margins were better as rates rose - possibly a myth.golfaddick said:
I don't think interest rates have much to do with the value of banking stocks tbh.hoof_it_up_to_benty said:Most of the banking stocks up around 50% over the last year - are they worth continuing to hold? Presumably interest rate rises will have an effect....
As they go up, they can make wider interest margins between what they borrow and lend, which boosts net interest margin (NIM), one of the most important valuation metrics for a bank. The reason they are struggling to make money is that NIMs have been narrow for so long, they struggle to cover operating costs and credit risk and still make a profit.1 -
Down another 76p today despite some really good results being announced. Down 15% now in about a week.bobmunro said:
It's a company share repurchase programme - commenced on 1 January and ends today.Fortune 82nd Minute said:Can one of you guys who work in the City tell me what on earth is going on with the Experian share price? Huge falls for the last few days, down 10% this week and all for no reason that I can see.
All very strange.0 -
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Tech stocks have had a disastrous start to the year and it's continuing. I am a bit too heavy in this area, mainly US but also via Baillie Gifford, so I've seen my profits reducing in the past few weeks. I've held in anticipation of an upturn at some point and there's no point selling low.Annoyingly I was about to take some profit on my largest tech holding just as the market started to go down but the downward trend started literally on the day I put my sell order in and has just continued downwards ever since.1
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Hitting my pension funds - hopefully the selling stops at some point.Bangkokaddick said:Tech stocks have had a disastrous start to the year and it's continuing. I am a bit too heavy in this area, mainly US but also via Baillie Gifford, so I've seen my profits reducing in the past few weeks. I've held in anticipation of an upturn at some point and there's no point selling low.Annoyingly I was about to take some profit on my largest tech holding just as the market started to go down but the downward trend started literally on the day I put my sell order in and has just continued downwards ever since.0 -
With further inflation and rate hikes expected, it really isn't going to be a pretty year for markets (esp growth). Most BG funds are down very heavily over the past 3/6 months performance.0
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Bought into ADV last week, 30% up till today’s disastrous RNS, now down 81%, fooking hell.0
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7717 please mate for meRob7Lee said:PS, don't forget to get in your FTSE 100 predictions.0 -
In the same boat ...Daarrzzetbum said:Bought into ADV last week, 30% up till today’s disastrous RNS, now down 81%, fooking hell.0
https://youtu.be/AJuIjabQPdE
