Your questions answered Vol 2 - IM Private Clients

[JulianPH]

PM3 said:

I made this for someone I know ( offline ) so share . I have too much time

[JulianPH]

Just to confirm, the cash facility for the stocks and shares ISA is for transitional purposes only (SImpo - you should not be using it to hold cash!).

It does not pay interest (it can't) and most certainly is not designed to hold cash for any period.

As Adam has said, IM Money Markets is our cash alternative, which is currently yielding 4.5%.

Cheers

[Simpo Two]

JulianPH said:

Just to confirm, the cash facility for the stocks and shares ISA is for transitional purposes only (SImpo - you should not be using it to hold cash!)

Fear not, it will be transitioned into something before too long...

I just need to decide what the something is...

[droopsnoot]

AdamIM said:

droopsnoot said:

Aren't they all S&S ISAs, and therefore "interest rate" isn't really appropriate? Or have I missed them starting a cash ISA?

We offer a Money Market product which currently nets circa 4.5% net.

Regards

Adam

Ah, I see. I keep meaning to look more into the MM product, not least because of the money that I've had in it since PHO closed.

[B9]

I sent BACs transfer on Thursday to go into my ISA as cash as I’d like to use up this years allowance

How long do they usually take to appear, and if there’s a delay (ie doesn’t appear until 6th) does it take into account when the initial transaction request was placed?

[Gallons Per Mile]

Simpo Two said:

Fear not, it will be transitioned into something before too long...

I just need to decide what the something is...

PH Booze 'n Fags. That's where the smart money goes.

[markiii]

Still waiting for PH weapons and drugs

[JulianPH]

I remember sitting in a bar about 25 years ago with an industry mate. Ethical funds were the new thing and we were talking about how a 'vice' fund would be more popular.

It seems the sentiment still lives on!

[Intelligent Money]

B9 said:

I sent BACs transfer on Thursday to go into my ISA as cash as I’d like to use up this years allowance

How long do they usually take to appear, and if there’s a delay (ie doesn’t appear until 6th) does it take into account when the initial transaction request was placed?

Hi B9

It usually appears same day or the following day, It was Bank Holiday on Friday and again on Monday so I would think Tuesday now. Drop me a message at [e-mail] if its not showing on Tuesday

Cheers

Nik

[Intelligent Money]

S6PNJ said:

Hi Nik and Adam,
A few posts up the page was a question about moving GIA invested funds to a pre existing ISA, all with the IM platform - would one of you detail the steps / process please, so we have it from the horses mouth. Oh, and I take it there is still time within this year (23/24) to move funds prior to next year's ISA starting (24/25)?

Hi

I think the process piece has been answered,

A switch typically takes 5-7 working days, dependent on the time taken to sell the assets.


Cheers

Nik

[Simpo Two]

JulianPH said:

I remember sitting in a bar about 25 years ago with an industry mate. Ethical funds were the new thing and we were talking about how a 'vice' fund would be more popular.

It seems the sentiment still lives on!

As does the demand!

That said, one thing in favour of ethical eco green investments is the limitless supply of mugs who will pay double for something with 'eco' written on it so they can declare they're doing their bit to save the planet.

In fact I suspect a fund entitled 'Planet Saver' would do remarkably well regardless of its contents... even dogst is organic

[JulianPH]

Simpo Two said:

As does the demand!

That said, one thing in favour of ethical eco green investments is the limitless supply of mugs who will pay double for something with 'eco' written on it so they can declare they're doing their bit to save the planet.

In fact I suspect a fund entitled 'Planet Saver' would do remarkably well regardless of its contents... even dogst is organic

From an investment perspective, ethical/sustainable/socially responsible cannot be ignored.

We have a generation of consumers for who these things are very important and their purchasing habits are shaped by their perception of where businesses sit in such matters.

Unfortunately this is mainly a box ticking approcash where even the most obviously environmental unfriendly companies can gain high scores by quite simple measures and practicality wins the day most of the time in purchasing decisions.

If you need that new organic hemp jumper for the weekend the vast infrastructure and transportation resources of Amazon are going to get it to you far quicker and more cheaply than anything else - and it's come in a recycled box, so all is good!

[Simpo Two]

Absolutely, my point exactly only with more detail

I'd say the mix is about 60% fashion, 30% BS and 10% fact...I'm going to buy my organic hemp jumper on Amazon right now. It's rain-forest friendly fair-trade hemp with a special logo and they use electric vans so I think £250 is a very fair price for my bit to help the environment. Influencers wear them so it has to be good!

Your next mission - investments for the gender fluid...

[markiii]

one that automatically changes funds to something random each day?

[Tony Angelino]

I have an ISA with IM for my son, he turns 18 in the next few months and doesn't know about it at the moment and I would like it to stay that way after his birthday. I think I may have read somewhere that in situations like this when the child turns 18 they are sent a letter by IM advising of any accounts in their name, but there are often 'issues' sending said letters out?

[AdamIM]

Tony Angelino said:

I have an ISA with IM for my son, he turns 18 in the next few months and doesn't know about it at the moment and I would like it to stay that way after his birthday. I think I may have read somewhere that in situations like this when the child turns 18 they are sent a letter by IM advising of any accounts in their name, but there are often 'issues' sending said letters out?

Hi Tony,

If you PM me i'll come back to you via email/phone. I need to ID the account and guessing it's not TA or Philip Pope

Regards

Adam

[superlightr]

Tony Angelino said:

I have an ISA with IM for my son, he turns 18 in the next few months and doesn't know about it at the moment and I would like it to stay that way after his birthday. I think I may have read somewhere that in situations like this when the child turns 18 they are sent a letter by IM advising of any accounts in their name, but there are often 'issues' sending said letters out?

I would think its a legal requirement for IM and not something that can be fudged over. If they are 18 then they are an adult for all the benefits and pitfalls that entails for them and parents.

[Sheepshanks]

superlightr said:

Tony Angelino said:

I have an ISA with IM for my son, he turns 18 in the next few months and doesn't know about it at the moment and I would like it to stay that way after his birthday. I think I may have read somewhere that in situations like this when the child turns 18 they are sent a letter by IM advising of any accounts in their name, but there are often 'issues' sending said letters out?

I would think its a legal requirement for IM and not something that can be fudged over. If they are 18 then they are an adult for all the benefits and pitfalls that entails for them and parents.

How many 18yr olds pick up the post off the doormat……

[superlightr]

Sheepshanks said:

superlightr said:

Tony Angelino said:

I have an ISA with IM for my son, he turns 18 in the next few months and doesn't know about it at the moment and I would like it to stay that way after his birthday. I think I may have read somewhere that in situations like this when the child turns 18 they are sent a letter by IM advising of any accounts in their name, but there are often 'issues' sending said letters out?

I would think its a legal requirement for IM and not something that can be fudged over. If they are 18 then they are an adult for all the benefits and pitfalls that entails for them and parents.

How many 18yr olds pick up the post off the doormat……

I understand the sentiment but its dishonest. At 18 they are legally entitled to do what they wish. If the parent didnt trust their child to spend it wisely then they should not have paid into their ISA and just made a gift of the money as and when they felt the son/daughter was "mature" enough for the parent to then trust them and bend to their wishes.

[2Btoo]

Another 'How Long Does It Take?' question ....

I made a contribution to my ISA last week and looking at the IM dashboard it lists the transaction under 'Contributions' as being 'Approved' with a Start Date of 28-03-2024. It also appears to have caused a slight up-tick on the graphs of the funds it's meant to have gone into (suggesting that it has indeed been contributed.) However I can still see my 'Remaining ISA Allowance' hasn't changed.

I'm guessing therefore that the contribution has been made and invested but that the 'Remaining ISA Allowance' figure is slower to update. Is this correct?

(Given the way that markets are going at the mo I'm keen to be invested as much as possible, hence the slight concern.)

Thanks!