Claire Cook

Where Do I Invest My Money?

Claire Cook from Talk Money

The interest rates have been so low over the past few years  that  savers have really suffered.  Many are at a loss as to where to invest their money, trawling the high street for higher rates or looking online.  People have become  more astute and inventive, making sure they use their cash ISA allowances each year, carefully spreading their money amongst several banks and building societies.

The providers have become clever with their marketing, offering high rates for a certain balance, or  a certain period of time, but all this needs diligence!  You should be careful of rate end dates or investing over the limit, the terms may not be so attractive.   To keep the best rates for your money is hard work and you need to  keep on the ball.

Sometimes people get a sudden inheritance, or sell a property ending up with a large lump sum.  This is when they can become confused about where to invest.  There are only so many financial institutions, and with a limit of £85,000 with each covered by the Financial Services Compensation Scheme (FSCS), it is easy to get stumped.

This is when many  seek the assistance of an Independent Financial Adviser.  People used to have  unquestioning trust in banks, but with events of the past few years, this is no longer the case.  An IFA can look at the whole market and work out where best to invest your money. Clients I see are often pleasantly surprised that even with a low risk investment, it is still possible to get higher returns for your money than with cash investments.

Some of you may have an IFA already, but having worked in this industry for twenty years, I can confirm that things have really moved on. We now have state of the art systems for managing money, ensuring it is invested with a good number of top fund managers for diversification,  and management of risk.   Not only that our client portal means you can keep in touch with the value of your investment.  Gone are the days of getting a statement once a year!

What areas will an IFA take into account?

Firstly what is your attitude to investment risk?  You may be very cautious with your investments, or you may be happy taking a medium or more adventurous risk.  What do you want your investment to do for you?  Do you want growth or income, or a combination of the two?  What is your tax situation?  Your investment should be tax efficient and work in combination with other income or investments you may have.

If you need advice on investments or any other aspect of financial planning, please call me Claire Cook on 01273 224667.  I offer a free initial consultation and would be happy to help.

Talk Money is a trading style of Best Practice IFA Group Ltd which is authorised and regulated by the Financial Conduct Authority.  The value of investments can fall as well as rise and you may not get back the amount invested.

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