Do you have cash in an 投資するing account? Beware 会社/堅いs pinching your 利益/興味, says SYLVIA MORRIS
Leaving 貯金 languishing in a High Street bank account is asking for trouble, as I 定期的に remind readers.?
There is a strong chance your cash is in a default 平易な-接近 account 支払う/賃金ing a fraction of what you could earn どこかよそで.
But stingy banks are not the only 危険 to savers. Some 投資 壇・綱領・公約s are up to 類似の tricks ― and this has finally got the attention of the 財政上の 監視者.
Yesterday, the 財政上の 行為/行う 当局 (FCA) 警告するd that 壇・綱領・公約s are typically 保持するing a 抱擁する 50 per cent of 利益/興味 earned by 顧客s on their 貯金 for themselves.
These 壇・綱領・公約s are a popular way to 投資する cash in Individual 貯金 Accounts (Isas) or Self 投資するd Personal 年金s (Sipps) and there are around ten million accounts in the UK.
Helping themselves: The 財政上の 行為/行う 当局 has 警告するd that 投資するing 壇・綱領・公約s are typically 保持するing 50% of 利益/興味 earned by 顧客s on their 貯金 for themselves
They 申し込む/申し出 a 広大な/多数の/重要な way to 投資する for the 未来 and keep tabs on how your 投資s are 成し遂げるing.
But the problem lies in how some of these 壇・綱領・公約s 扱う/治療する their 顧客s’ cash 貯金.
率直に, I think some 壇・綱領・公約s are taking the mickey, by 収入 healthy 利益/興味 率s on their 顧客s’ 貯金 and pocketing most of it themselves instead of passing it on.
The fact that the Bank of England base 率 has risen 14 times in the past two years seems to have all but eluded them.
Hargreaves Lansdown 支払う/賃金s 2.75 per cent on up to £10,000 in a 在庫/株s and 株 Isa, 3.45 per cent in Sipps or 1.5 per cent in a 基金 and 株 account.
Interactive 投資家 支払う/賃金s 1.75 per cent on the first £10,000 of cash held in an Isa, Junior Isa or 貿易(する)ing account and 2.75?per cent on the same 量 in a Sipp.?
AJ Bell yesterday upped its 率s ― just hours after the FCA 告示 (what a coincidence).?
支払う/賃金ing measly 利益/興味 率s is a lucrative 商売/仕事. Hargreaves Lansdown 得るd £269 million from this practice in the year to the end of June.
Yesterday, the FCA wrote to the 42 長,指導者 (n)役員/(a)執行力のあるs of 投資 壇・綱領・公約s and Sipp providers 警告 that they may not be 供給するing fair value if the 量 of 利益/興味 that they cream off savers ‘意味ありげに 越えるs’ the cost of looking after their cash.
The FCA also 警告するd against a second dastardly practice, which it labelled ‘二塁打 dipping’.
This is when 壇・綱領・公約s not only swipe chunks of the 利益/興味 earned from savers’ money ― they also 告発(する),告訴(する)/料金 them for 持つ/拘留するing cash. That means 壇・綱領・公約s 利益(をあげる) twice. Outrageous!
The FCA has told 会社/堅いs 有罪の of 二塁打 dipping to 中止する. ‘If they don’t, we’ll 介入する,’ said Sheldon Mills, (n)役員/(a)執行力のある director of 消費者s and 競争 at the FCA.
会社/堅いs will need to make any changes by February 29, 2024.
Good. I’m relieved the regulator is finally taking 活動/戦闘.
Here’s how not to be a sitting 的?
In some ways, failing to pass on higher 利益/興味 率s to savers is even more 背信の when done by 投資するing 壇・綱領・公約s than by High Street banks.
That is because, if you are getting a low 利益/興味 率 on your 貯金 account, my advice to you would be to shop around and get a better 取引,協定 どこかよそで.
But this 戦略 is much いっそう少なく straightforward if you 持つ/拘留する some cash on an 投資するing 壇・綱領・公約.
Many now 申し込む/申し出 貯金 壇・綱領・公約s that have 競争の激しい 利益/興味 率s. But these 率s cannot be 接近d within 在庫/株s and 株 Isas or Sipps. You cannot easily 転換 your cash from a 在庫/株s and 株 Isa or Sipp to get a better 取引,協定 without losing its 税金-解放する/自由な 避難所.
You could 移転 your Isa or Sipp to a different provider, but people tend to choose their 投資 壇・綱領・公約 based on many 質s other than how much 利益/興味 they 支払う/賃金 on cash ― such as their other 料金s and 評判 for good 顧客 service.
Put 簡単に, 年金 and Isa savers who 持つ/拘留する cash with 投資 壇・綱領・公約s are sitting 的s. And since 投資 壇・綱領・公約s themselves seem in no 急ぐ to 削減(する) off this lucrative 歳入 stream by 支払う/賃金ing savers a more 競争の激しい 率, the regulator has to step in.
Let’s hope the 壇・綱領・公約s 答える/応じる quickly.