Like a family heirloom gathering dust, many people hold onto old shares without giving them a second thought. Maybe you inherited some, or bought them a while back and just left them there. A review could help you decide if it's time to sell or switch them. Stockbrokers can certainly assist, but for a small number of shares, an internet search of your options might be enough. At Beacon, our in-house investment team use software that provides insights from around 30 different broker views, helping decide whether to buy, hold, or sell.
Do you know where your old pensions are, and – crucially – what they might offer you? Pensions from decades ago might still have valuable ‘extras’, such as final guarantees or high annuity rates. They should be reviewed anyway to see how their performance and charges compare.
These were popular at one time, but many of the older ones need close attention. Cash ISAs and National Savings Plans have struggled to offer competitive returns for some time. Shares ISAs, Unit Trusts and Investment Trusts should all have great potential, but can also be disappointing in terms of returns charges and tax.
Many of these traditional plans used to come with annual bonuses. But now, many of these bonuses have either fallen dramatically or stopped altogether. The plans may still have value – some could be sitting on a final bonus or a minimum guaranteed value.
All the above can be reviewed and repaired where necessary, with missing elements added or existing ones tweaked if they show signs of wear and tear. The repairs needed may not be as obvious as when you’re watching a piece of furniture being restored on The Repair Shop, but they are no less important.
If you have existing plans you wish to have reviewed, you can ask a qualified adviser to write you a report of your situation. Make sure you receive a clear recommendation from them of what you should do, and be wary of those offering to write you such a report free of charge.
To speak with our local experts, please call us on 01480 869466 for a free initial, no obligation chat. For more information and useful content, visit our Insights & News page on our website.
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