As ever - don't depend on a tied agent sales person for independent, professional advice in your best interests.A BOI investment manager advised me to put it into their Evergreen fund for 5 years
Why? Do you understand the nature of such equity based investments and the potential risk/volatility involved? If not why did you choose this investment other than being sold it?I have called them to express concern
No - but they are not incorrect either.but they only say "don't worry, these funds tend to fluctuate".
But surely this is not independent impartial advice?
Do you need the money now? Why did you choose this investment in the first place? What was your investment timeframe? Equity based unit linked funds and deposit accounts are not really directly comparable savings/investment options so to consider a seemingly knee-jerk switch from the former to the latter in the light of short term marke volatility betrays a certain naivety about such issues in my opinion.My main question is should I clear everything out of this fund and transfer it all into my safe and secure RaboDirect a/c?
If you are confused get help from an independent, professional advisor now or next time you are shopping around for savings/investment options best suited to your specific personal needs.By the way I respect those who give the opinion that one should never try to "second guess" how these issues go but, any advice appreciated.
This is not a low risk investment. If you were told that then you were misled. If they wrote it down then you could have strong grounds for a case of misselling. I would imagine that they were not that stupid though.Therefore I wanted it in something low risk with fairly good return. This fund was sold to me in those terms.
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