Since the 2008 recession, the Government has looked at several ways to assist first time buyers onto the housing ladder. One of which, was the Help to Buy ISA, (H2BISA), launched in December 2015. However, they are about to be closed to new applicants from November 30th.
‘Investors Being Ripped Off?’ Surely some mistake…
You know by now that we subscribe to the notion of appointing low-cost passive fund managers to improve chances of a successful investment experience. Well, we are seeing more and more defection from the ‘dark side’ of active trading, not least because of the cost. Here, Neil Woodford, one of Britain’s best known ‘star’ fund managers, criticises his industry for charging customers too much…
From July 1 2014 all ISAs will become NISAs. This applies to all existing ISAs and new accounts opened after 1 July. The Government is changing the name to reflect the significantly increased limits and flexibility that will be available to account holders.
The NISA will be more generous and will offer flexibility to save your NISA annual allowance of £15,000 in cash, stocks and shares or any combination of the two. Under the NISA rules you will also be able to transfer previous years’ ISA savings freely between stocks and shares and cash if you wish.
A drum that we have been banging for the last twelve years at Manse is finally being heard in the larger arena of the financial services industry and the associated press that writes for it.
Recently, The Financial Times “FT Money” section ran an article on probably the most important yet deliberately opaque aspect of investing money in this country, “Hidden Costs That Eat Away at the Value of Your Portfolio” by Norma Cohen.
You might have noticed some transactions on your Transact accounts relating to the Legal and General Property Fund. You do not need to take any action in this regard and these movements are nothing to worry about. It is simply an administration exercise relating to some changes within this fund.
When clients are choosing the financial advisory firm with whom they wish to form a relationship, they are understandably keen to interrogate the credentials of the people that will be looking after their wealth.
At this point, it is easy to fall prey to ‘The Big Brand Myth’; commonplace misconceptions of whether clients might be better served by working with a ‘household name’. We discuss the main ones below:
So, relaxations to capped and flexible drawdown from 27th March this year, unrestrained pension drawdown from April next year and an increase in the ISA contribution limit to £15,000 from this July. Quite a package.
How, if at all, does this change the ‘ISA or pension’ choice for investors?
The Budget in March brought in some opportunities for your savings and the key points are briefly summarised below
The proposed April 2015 relaxation permitting unrestricted pension fund drawdown to all regardless of ‘pot size’ has carried some predictions of a flood of requests from ‘pension disaffected retirees’ to draw entire funds to invest into property with a view to generating rental income as a ‘pension’.