baz69birds

Now i know im going to get slatted on here FROM most people,

But im looking for a FIANCAL ADVISER
to give me some hints/tips/pointers & Just general ADVISE

ive got a few question i also need to ask,



Baz


P.s Tiny if you feel this is inapropriate (sp) please delete after people have read it, & so they know im after HELP Baz

Gangsta Smurf

I know we don't see eye to eye on a number of issues baz but if you want any info regarding financial investments/instruments I'd be happy to help out. Feel free to PM me.

I am bound under client confidentiality from CIMA so anything we do discuss is just between us.

Gangsta Smurf

I should add that I am not a specialist on mortgages or anything like that.

What I can advise you on are things like.

Financial Instrument investments. bonds etc.
General FTSE 100 Equity and Future Products as well as Investments in Commodities.
General Investments and financial management issues

Phil

Of course to offer advice you need to be an IFA regulated by FSA

Saying that I am sure Rob can nudge you in the right direction with breaking toooooo many laws

Phil

Phil

sorry off topic

How long you been a CIMA member mate. I assumed you went down the ACA or the CACA route ?

Phil

Phil

Back on topic

If its not investment related I am always happy to help been in financial management for tooooo long

Phil

baz69birds

Sorry Gangsta Mate, its not investments, bonds etc... Sorry
(& we only dont see eye to eye on here, other than that, think we are cool)


Phil may need your advise,
will e-mail you as i have your address

THANK YOU

Phil

Mrs ESC

As long as you dont ask Tiny for advice lol

Your'll end up with more mods on your car than you know what to do with lol.

All joking aside, hope Phillip can help you out.

Andy-C

Sort of on topic.

Does anyone know if I can flog my Standard Life shares (when available), and cash in my with-profits pension. The FA I took the pension out with said I couln't sell it or do anything with it (this was about 4 years ago when he said this), and as it will only pay out about £400 PA, I'd rather get rid

Gangsta Smurf

Phil I will not go into my specifics but I can assure you that I can give advise without breaking any laws. That's how I was able top advise my clients when I working in one of the big 4!!

Being a trader now my specialism is different but my accounting qualification will stand forever and I'll always have to be up to date because of the CPD requirements.

But seeing as certain ***** on here don't believe me it makes no difference anyway.

Andy-C

Gangsta, any ideas

Phil

Rob not doubting your qualifications mate just interested in the CIMA qualification especially if you did it with one of the big 4. When I was a lad [before you were even a twinkle in your mother and fathers eye] the big 4 wouldn't even entertain the CACA exams it was ACA or nowt let alone CIMA. I suppose things move on

As you well know corporate and personal advice is very different and I wouldn't pretend to even know where to start in corporate finance so your job is safe for the time being ...............LOL

I looked at continuing my studying and doing the FSA exams but soon wimped out

Gangsta Smurf

cashing in your shares is easy. If you got given them by a bank then all you need to do is call their brokerage desk and ask to sell them. It will say on the share certificates who the brokerage house is.

With regard to the pension they are worth dick but you can't cash them in. I've got something like £2k sitting in one from a previous job which I can either sit on or transfer into a new pension.

My advice is to transfer the balance into your current pension scheme and then just invest the whole lot in FTSE 100 quoted equities (as you mentioned you don't really care about the pension itself) - the equity option is the most risky but will pay the highest if the equities markets rally.

Phil

You can certainly sell your shares at any time

However you can't cash in your pension policy under current legislation

You can transfer it to another scheme as long as its registered with HMRC

If it isn't then you will incur a 55% tax charge

HTH

Phil

I would partially agree but I would split this between uk and perhaps European, US or even Far East Equities

Covers all bases on the "risky" option

Gangsta Smurf

sorry got the wrong end of the stick.

You are absolutely correct on the big 4 not entertaining a CIMA study programme. However I was able to get myself into a position where I could demand to do CIMA and be allowed to. (basically I was doing a specialised job which required a better knowledge of management reporting rather than regulatory issues and taxation)

I sat my FSA exams a while back too as I knew that my trading break was coming up so needed to pre-empt it

Phil

Fair Play mate didn't fancy them myself

Gangsta Smurf

maybe leave the far east though ... your pension could be vaped very quikely that way.

Although asia is an emerging market the recent removal of state monetary support of the markets is something I would watch for a bit before deciding upon a potential investment

dangerous times

Gangsta Smurf

ACCA/ACA etc etc are good if you want to be an accountant and work in practice. However I never wanted to so always knew that CIMA would give me a better base ground for first getting into a trade accounting specialism and then onto the floor.

Phil

Although I got out of practice back in 1986 and haven't looked back
Can't stand accountancy to be honest but as you quite rightly state its a great grounding for ANY business venture or future career

I spend 95% managing the business these days

Andy-C

Thanks for your help Guys, I'll see if Tesco will allow me to transfer this pension in.

Gangsta Smurf

they should do matey. If not then perhaps consider setting up a private pension which will definitely allow you to transfer the balance in

Gangsta Smurf

with the current starting salary for a qualified accountant at £50-£70k I would put myself out on a limb to say that it's probably the best route into finance possible. Such a good base ground to fall back on. And something I would definitely recommend to any ESC youngsters looking for a break into the city and who don't want to go to university (which is a waste of time for a finance career) ... actually a waste of time in general!

Phil

Don't show those figures to my staff mate

Newly qualified ACCA's aren't earning quite in that league

But I do get your point

however I wish I had done Law at Uni rather than Economics

Gangsta Smurf

I should re-phrase. Uni is a waste of time unless you want to go into law!

The CIMA base salary is crazy really, considering that 4 years ago it was about £30k for a newly qual.

Get into accounts, get qualified, get specialised then get out into industry and advanced banking. That's my advice!!

It's the way to go though ... I'm so glad I didn't listen to the stupid career's advisor at school and went my own way. Otherwise I would have probably ended up as an auditor!

Michaela

I don't think university is a waste of time... I think its a way of establishing and educating yourself further. Degrees are becoming more and more important.

Gangsta Smurf

I'm sorry but that's absolutely not true in the city today. Any financial institution will take a person who has experience over any new uni leaver. A levels and degrees are dumbed down to a ridiculous extent and the only way to differentiate staff is through experience now.

I'm sorry but your statement is totally incorrect ... !

Gangsta Smurf

also most kids go into uni just to experience the culture, they do degrees which have no relevance to what they want to be and routinely get thirds and 2:2s which is crap and mean **** when you waltz into an interview and try to explain to somebody like me why I should hire you over a person who left school at 18 and has been working in the city for 4 years in finance!

I'm not being nasty to you just stating the pure facts on this matter.

This is half the reason why education and further education is such a massive issue to the government at the moment

Phil

Rob

Experiance is very important I will give you that


But Up against a Degree and Experiance then the additional piece of paper will win it

Plus you get to wear a silly hat and gown