You have a considerable choice and range of options available when considering where to save or invest. From relatively low risk building society accounts to higher risk, high yield schemes such as Stocks & Shares Individual Savings Accounts (ISAs), Unit Trusts and Open Ended Investment Companies (OEICs).
Savings
‘Savings’ is typically considered money that is being put away on a regular basis and normally held in accounts with relatively easy access. Banks, Building Societies and National Savings Accounts, for most people, are the most common way to save and ‘savers’ should always expect these accounts to pay interest on the monies held in them.
Investments
‘Investments’ are often considered to be ‘larger’ sums of money, that are Invested for the medium to long term (5 years +). Typically people will invest with a specific goal in mind such as Retirement Planning, Weddings, University Funding, Holiday Homes etc.
When helping you to decide how to save or invest, we will;
- Help to clearly identify your financial goals. For example are you looking for Income, Growth or both?
- Establish your attitude to investment risk to ensure that any current, and new, savings/investments are in accordance with your risk profile.
- Discuss how much you wish to save/invest and for how long.
- Consider your taxation situation now and in the future.
- Advise you of all the costs involved.
- Research the market, considering your aims and views, and provide you with a written report and recommendation.
