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Q&A; YOUR money queries are answered by PETER RUTHERFORD, senior director of Rutherford Wilkinson Ltd, chartered financial planners.


QI have some money that I want to reinvest. It has just come out of a one-year fixed-rate bond with Barclays. Where can I find independent information about competitive deals? Walking around the high street seems to be a waste of time.

A The best way to keep up to date is by using the internet and there are several sites that can give you the latest deals. The one I tend to use is but there are many others such as or You should be aware that if you invest via some of these sites that they do earn a fee from the deposit taker, so they may not be entirely independent. However, they are a good source of information and will save your legs a lot of work.

QI am now in my 80s and have been living off the interest from my savings for several years.

However, I am finding that I am eating into my capital. Are there any alternatives for me as I need guarantees and do not want to take risks with the stock markets? AI would strongly recommend that you sit down with an independent financial adviser and review your position. There are lower risk investment funds that you could consider that may give you a higher level of income than money on deposit.

Also there are what are known as structured products, which are available from time to time.

Another alternative is a purchased life annuity, which will give you a guaranteed level of income but you would lose access to your capital. The payment is split into return of capital and an interest element and it is only the interest element that is taxed.

The real key, however, is to sit down and discuss this and get an understanding of what is available to you.

QI have cash ISAs in the bank and have noticed that the level of interest I receive is derisory. What options do I have? AThis is a question that continually crops up with clients. It is estimated that there are approximately one million cash ISAs receiving only around 0.1% per annum and it looks as though our low interest rate environment is likely to continue for some time yet. Whatever you do you should try and maintain the tax advantages of your ISAs and therefore you should look to transfer your funds to a new provider. You can either move to a new cash ISA provider or alternatively invest in stocks and share ISAs.

As always it is vital to take independent financial advice that is properly qualified. An adviser will look at your position, ask you questions and then ultimately make a recommendation that should be based upon your feelings about money.

To request a free Investor's Guide and with any questions you would like answered please contact me at Rutherford Wilkinson Ltd, Northumbria House, 21-23 Brenkley Way, Blezard Business Park, Newcastle, NE13 6DS. Website Telephone 0191 217 3340 or email
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Title Annotation:Sport
Publication:The Journal (Newcastle, England)
Geographic Code:4EUUK
Date:Nov 6, 2010
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