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4:34pm Thursday 24th March 2011
The tragic events of the Japanese earthquake will no doubt have traumatised us all. In much the same way as the Tsunami in Asia on the 26th December 2004 led to an immense impact, the seemingly heartless capitalistic world needed its answers.
4:15pm Thursday 17th March 2011
It's called an ISA season but I don’t know why, as we have all year to invest in our ISAs (Individual Savings Accounts). I assume, as we have a sell by date of the 5th April, most people have the ‘use it or lose it approach.’ But what are the key bits of ISA advice you need to consider before making that last minute investment?
2:12pm Monday 14th March 2011
With profit bonds! Now there is the world's greatest enigma. Not only were they never a good idea, but it is now over ten years since they were really shown to never be a good idea. Yet, today there is over £330bn sitting in such arrangements, fermenting at the expense of the unaware investor.
8:32am Friday 25th February 2011
4:04pm Thursday 17th February 2011
3:01pm Wednesday 2nd February 2011
It's not been a great start to 2011 for the banks in terms of fines for the advice they have given. Barclays were walloped £11m by the FSA but agreed to settle in advance for £7.7m for advice relating to two Aviva funds of the global balanced income fund as well as the Global Cautious Income Fund. £692m was invested across 12,331 people and the FSA has secured £60m in redress for customers. (1) Royal Bank of Scotland and Natwest found themselves on the receiving end of a £2.8m fine for poor complaints handling. The banks' routine handling of complaints was under scrutiny. Of the files checked by the FSA, 53% showed deficient complaint handling and 62% showed a failure to comply with the FSA's requirements on timeliness and disclosure of Ombudsman referral rights. Amazingly, nearly 31% failed to demonstrate fair outcomes for customers. (2) Most people just get an overdraft for January, but to start the year with this sort of wallop is not good reading.
2:29pm Wednesday 26th January 2011
8:02am Monday 24th January 2011
10:18am Wednesday 15th December 2010
I have been contacted by a financial adviser who wants to sell me some shares which apparently are' under the radar of the stock market' and are 'set to fly'. Do you have any thoughts? I can let you know the name of the two shares they have said are well worth it.
2:22pm Thursday 9th December 2010
It used to be really easy to understand the markets. You could read sentiment and marry that with reasonable economic data but today it’s a great big bun fight that makes it suitably complicated for some.
11:32am Wednesday 1st December 2010
8:30am Tuesday 23rd November 2010
9:40am Tuesday 16th November 2010
Long term care is, for definite, one of the biggest threats to the passing down of capital to our children. Unlike Inheritance tax, which is applied as a tax at 40% on transfers over £325,000, your personal estate can be liable for every penny over and above £23,500.
4:11pm Tuesday 9th November 2010
Following on from last week's introduction to structured products/guaranteed products, I'll answer a few questions we have been asked by readers, namely, how transparent they are, what are the charges, and how risky they really are.
11:00am Tuesday 2nd November 2010
9:10am Tuesday 12th October 2010
11:39am Tuesday 5th October 2010
11:54am Friday 24th September 2010
As if banks and their swashbuckling lifestyles, bonuses and irresponsible purchases and lending isn’t enough. Today the chief executive of the British Banking Association (BBA) has announced that the new rules put in place under Basel III will force up costs for borrowers and that the end of cheap credit is nigh. (When did cheap credit exist?).
8:30am Tuesday 7th September 2010
A financial adviser at the bank has told me to take out long term care insurance and I wonder if it’s a bit of a waste of money. My husband died recently but I am worried that my estate might disappear in long term care costs.
1:34pm Wednesday 25th August 2010
I have a business and it seems my invoices are going astray as no one seems to really want to pay them! It's causing quite a bit of cash flow problems so I have looked at factoring as a possible solution. Any thoughts on its suitability.
4:32pm Monday 16th August 2010
I'm not sure if its just my taste of adverts but there is something about that Halifax advert (Ice Ice Baby) that seems to have a negative effect on me. Is it the poor, contrived beginning, or the fact it really tails off in the middle or that the end is just best not talked about.
12:21pm Thursday 5th August 2010
When asked about how stressful the responsibility can be for investing advice for the public, I balance the thought with how stressful my life would be should I not be qualified to make the decisions I do.
3:59pm Tuesday 27th July 2010
9:32am Wednesday 21st July 2010
I was looking at the best methods of mitigating Inheritance tax immediately. My father is elderly but although he is in reasonable health I have just found out that his wealth will disappear as we will pay 40% tax (£212,000 to be exact) on everything he has over £325,000.
11:43am Friday 9th July 2010
11:44am Tuesday 15th June 2010
7:00am Tuesday 8th June 2010
I have an endowment policy and I am wondering if I should encash it. I took it out for a mortgage and I no longer have that mortgage so I thought about just keeping it for a savings plan. Is that a good idea?
4:13pm Tuesday 1st June 2010
2:39pm Tuesday 25th May 2010
It is widely believed that we will find ourselves with capital gains tax increased from the current 18% to as much as 40-50%, with the gain added to income. This will have two possible impacts on the housing market.
12:36pm Tuesday 18th May 2010
I had the joy of having to review each and every manifesto from an economic perspective pre the election. There was more detail in a pint of milk, yet one, in fact two parties actually got in. That is confusing.
2:49pm Tuesday 20th April 2010
As with most of the financial services industry, the need to be cynical with ethical investing is encouraged. The minute we were told that gases from our fridges were hurting the environment our bank accounts began the unleashing of the taxes the like of which we have never seen before. Easy come.
10:40am Tuesday 6th April 2010
4:25pm Monday 29th March 2010
2:30pm Tuesday 16th March 2010
10:58am Wednesday 10th March 2010
11:50am Tuesday 2nd March 2010
I am hoping that twelve years after writing my first column on with profit bonds that this will be one of my last. I faced heavy criticism from many about the initial articles, but thankfully the basic natural laws brought this contrived rip off 'investment' crashing to its knees.
7:00am Tuesday 23rd February 2010
11:28am Friday 19th February 2010
4:08pm Tuesday 9th February 2010
3:03pm Tuesday 2nd February 2010
9:00am Tuesday 26th January 2010
9:40am Tuesday 19th January 2010
Cautious investors could easily become fooled by some of the investment options available on the high street; and judging by the millions poured into so called 'guaranteed products' investors must clearly be reading information I am not.
3:17pm Thursday 14th January 2010
A new year, a great year? Unfortunately not. This column accurately predicted the inevitable back in 2007, and how that would run out in time for an election, and the very real potential of a hung parliament. (By the way prepare for lots of media coverage on that subject).
3:45pm Tuesday 5th January 2010
Is there really that much difference in performance between investment funds or are they all much of a muchness as I have some investments and pensions and I have no way of knowing whether or not I am getting the best performance for my money or not.
9:30am Tuesday 15th December 2009
My bank is telling me that it is still very active in lending in the commercial market but they are not supporting me and my commercial finance broker is struggling to assist me with my business finance. Are banks really being more relaxed with their lending or is this all hype?
5:24pm Wednesday 9th December 2009
2:40pm Tuesday 1st December 2009
‘Oil sharks sit off Brixham coast’. ‘Dear oh dear’ I thought as I passed the newsagent window. And like most of these things I yawned and resigned myself to that old saying ‘it’s like that déjà vu all over again’.
1:47pm Tuesday 24th November 2009
3:59pm Tuesday 17th November 2009
£45.5 million. That surely is a good Saturday morning reading when you pick up your lottery winnings. But it isn’t all plain sailing as some of you might think! Consider the problems Les and Samantha, the lottery winners now have. There may be some mild sarcasm to follow.
11:54am Tuesday 10th November 2009
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If you have a financial query call Peter McGahan on 0845 230 9876 or e-mail email@example.com.
Peter McGahan is an Independent Financial Adviser and the Managing Director of Worldwide Financial Planning Ltd who are authorised and regulated by the Financial Services Authority. The FSA does not regulate Credit Cards, Will Writing and some forms of mortgage and Inheritance Tax Planning. Information given is for general guidance only, and specific advice should be taken before acting on any suggestions made. The above represents the personal opinions of Peter McGahan. All information is based on our understanding of current tax practices, which are subject to change. The value of shares and investments can go down as well as up.