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What shall I do with this money?

29 replies

abstractzebra · 10/01/2020 21:26

Hi all,
I've just been made redundant and have received a large payment (really long service).
I saw a couple of financial advisors and settled with one who was going to send me a plan based on what we had talked about.
However, the report never turned up and despite following up with an email, no reply!
This person was highly recommended and the company has a great reputation, so absolutely no idea what has happened but that's a side issue.
What should I do with the money until I can resolve the issue? Maybe just short term.
The only thing I can think of is to use my maximum cash ISA amount (for what it is worth these days).

OP posts:
VanGoghsDog · 20/01/2020 13:11

I'm still trying to work out why the financial advisor has ghosted me!

Because you are a very very very small customer for an IFA.

Write to them and ask them to delete all your details under data protection laws.

abstractzebra · 20/01/2020 14:28

But in the face to face appointment said she was more than happy to help!
The other company I approached are much larger and they were more than happy to help and send information.
Their fees were too high so I didn't go with them.
I will write and ask for it all to be deleted though.

OP posts:
Lightsabre · 21/01/2020 17:42

If your investment is under £100K then it's small fry to an IFA probably. They will prioritise their million plus clients. Have you looked on the Money Saving Expert site? There is an investment forum on there packed with financial advisers. No substitute for researching yourself though via magazines etc.

Panicovereveryone · 21/01/2020 18:35

Unfortunately it’s true. £500k or more is where many of us operate. The compliance is prohibitive and the value add for the client isn’t in that end of the market.

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