Money

[henry1938]

i came across this site
willow wealth management
offering very good monthly income for 10k
anyone heard of them

[fiction-factory]

Yes, but I'd look very carefully at what they are offering, what guarantees there are and what risks. What income are they offering and is it an annuity- i.e. will they keep your £10000 and just give an income.

[Baldric]

To be fair they don't seem to have many online reviews yrneh, which would make me wary of them.

[gingejbee]

...I'd be wanting to know exactly HOW they can give a "very good monthly income" on £10k.....

[henry1938]

they are offering 7 percent on 10 k

[gingejbee]

As I said....just HOW can they offer that? ....

[woofgang]

if it looks too good to be true, it IS too good to be true

[Gizmonster]

7% on £10k - where do I sign up??

Oh hang on - I've just read woofgang's comment ..... damn :(

[Buenchico]

Looking through the firm's website
http://www.willow-wealth.uk/
it quickly becomes clear that it's actually a one-man business, run by a financial adviser (Paul Adair) from his home in Northern Ireland. So he's not actually providing any investment products, simply advising upon them.

Most of what's on the website seems 'kosher' to me but I am concerned that he claims to be a Chartered Financial Planner. That title can only be awarded by the Chartered Insurance Institute but neither his own name, nor that of his business, appear on the CII's directory:
http://www.cii.co.uk/web/app/charteredtitle/FSSearch.aspx

Given that the products offered through Willow Wealth Management will be available elsewhere, I'd advise finding another adviser.

(PS: I've emailed the Chartered Insurance Institute to let them know that either their database isn't up to date or else Mr Adair is using a title which he isn't entitled to).

[fiction-factory]

Yes. I agree with Buenchico (and others). Some banks can afford to subsidise loss leaders such as Santander with their 3% on current account (soon to fall to 1.5%) but the only way a wealth management firm can get anything above 3%, never mind 7%, is to invest in riskier assets/products such as shares, peer to peer lending, OICS, property- and there is always a risk your fund may fall in value.
If your health is not good you could try getting a quote for an annuity over say 10 years

[henry1938]

ta for all the brill info