[Richard Berry]

You should be very careful when moving old pensions just in case, as you say they come with additional benefits in case you lose them. You will need to talk to a professional advisor beforehand. You also need to consider if moving to a cheaper pension provider will compensate for any exit fees you need to pay.

Alex Pugh, Chartered Financial Planner, Partner at Saltus gave this advice:

Consolidating pensions can offer benefits such as reduced paperwork, increased income flexibility, reduced fees, a wider range of investments, and it’s easier to ensure your investments are aligned with your goals. Usually, simplicity is best. However, defined benefit schemes are valuable. Transferring these are high-risk and should only be considered in specific circumstances. Multiple defined contribution schemes can sometimes reduce diversification, because many default funds have similar holdings. Older pensions may have unique benefits, including extra tax-free cash and could incur exit penalties. Transferring could have adverse consequences as well as positive ones. Taking advice prior to consolidating is recommended.

[Richard Berry]

A currency broker will be able to get you the best exchange rates and you will also get more control over the timing of the conversion compared to your bank.

Before you start, make sure you read our guide to preparing for a large currency transfer where you can also compare currency broker exchange rates.

We also reached out to Faye Morris, Business Development Manager at Halo Financial who gave this advice:

Currency brokers like Halo offer more favourable exchange rates than banks. In addition, Halo do not charge transfer fees or commission for their service, ensuring you’ll receive more euros on the other side.

Halo also provide a dedicated account manager, at no cost, who can assist with the timing of your transfer and keep you informed of any significant market movements—particularly helpful if you don’t have the time to track exchange rates yourself.

I highly recommend registering with Halo. It’s completely free, with no obligation, and will give you access to their live trading rates and services.

Philip McHugh who heads up Currencies Direct corporate dealing also said that specialist currency providers typically offer far better exchange rates than banks, and even a small rate difference can mean thousands more in your account. Some charge fees, but others add a margin to the exchange rate.

This type of provider buys currency at the ‘interbank’ rate, not available to consumers, and applies a margin before selling. Some providers also keep you updated on rate movements and offer tools to fix or target an exchange rate, helping you transfer at the right time.

This approach ensures you get a more competitive rate and maximises the amount you receive.

[Richard Berry]

It’s usually the otherway round in that the young can afford to take on more risk becuase they have more time in the market to ride out dips and see their investments grow. The closer people get to retirement the more they lean towards income rather than growth. But if you are interesting in putting your money to work with more risk, Victoria Hasler, head of fund research at Hargreaves Lansdown has provided the following information.

“For investors who have longer timeframes or are happy to accept a higher level of volatility, equity funds can be a good place to start.

Global

Global equity funds provide a good foundation to an investment portfolio focused on long-term growth. Investing in companies across the globe provides diversification in a single fund. An index tracker fund is one of the simplest ways to invest, and could be a good addition to a broader investment portfolio aiming to deliver long-term growth in a responsible way.

The Legal & General Future World ESG Tilted and Optimised Developed Index fund provides broad exposure to a range of large and medium-sized companies in developed markets, such as the US, Japan and Europe, while being mindful of environmental, social and governance (ESG) issues. Responsible investment funds give you the chance to make money in a way that’s in line with your principles.

This fund aims to track the performance of the Solactive L&G ESG Developed Markets Index. It won’t invest in tobacco companies, pure coal producers, manufacturers of armaments or persistent violators of the UN Global Compact Principles.

Asia

Over the years, rapid industrialisation, growing populations, and a desire to succeed have helped transform countries in the Asia region. Domestic consumption is set to be a key driver of growth over the coming years, helped by a young and growing population, and rising wealth. Continued innovation from companies at the forefront of technology based there could also provide exciting growth opportunities for investors. However, younger economies mean the risks are greater and more volatility should be expected. While Asia is home to developed markets such as Hong Kong and Singapore, others, including China and India, are still emerging.

The FSSA Asia Focus is run by a manager and team with a great pedigree of investing in Asia. We like the culture and philosophy at FSSA – the managers view themselves as stewards of investors’ capital, looking after it as though it’s their own. The fund has an impressive track record of picking some of the region’s best-performing companies over the long run.

UK Equity Income

UK equity income funds are a convenient way to invest in a mix of dividend-paying UK companies, and to access one of the highest-yielding stock markets in the world. An equity income fund can be a great addition to an ISA portfolio for different reasons. You can take the pay-outs to supplement your income and have a bit of extra cash in your back pocket. Or if you’re targeting growth and aiming to build your portfolio for longer, reinvesting dividends can help grow your pot thanks to the beneficial effect of compounding.

The Artemis Income fund focuses on companies which can pay a sustainable level of income, regardless of the economic backdrop. The fund mainly invests in large UK businesses, but it can also invest in some medium-sized and overseas companies when the managers find great opportunities.”

[Richard Berry]

Thanks for your question. Mark Glowrey​​​​, Director of Fixed Income Sales at Allia C&C has provided us with the below:

Allia C&C are lead managers of the RCB program and whilst we are unable to provide investment advice or predict future events we can provide some insight on the likely behavior of the borrowers.

As your reader rightly surmises, many of the charities issuing bonds will look to refinance the debt on or before maturity. This has already happened with one issuer, Golden Lane Housing, who issued the first bond on the program in 2014. When the bond matured in 2021 the first bond was repaid from proceeds from newly issued ten-year bond.

Other issuers may choose to re-finance the debt via further bond issuance. Many of the issuers run balance sheets with multiple lenders such as banks, and may chose alternative methods of refinance (largely subject to the relative cost of debt). In some cases, the debt may be repaid from retained earnings.

[Richard Berry]

There is no reliable way for retail clients to automatically trade the forex markets. Be very aware of any system, advert, company or educator saying that you can do so. It will most likely be a scam.

Something claiming they can produce you returns of 15% to 25% a month is almost definitely a scam. For more information on forex scams read our update on the FCA here.

Spread betting on forex is currently free of capital gains tax in the UK.

You can read more on why spread betting is tax-free here.

[Richard Berry]

Hi,

We asked a variety of brokers for a response on this, Saxo Capital Markets responded with:

Should be fine to open an account from Sint Maarten – sounds very exotic! I can’t see it on our exclusion list anywhere

We offer accounts in several base currencies (18 I believe) so having a USD account is not a problem

If buying GBP denominated stocks/ETFs on a USD account an FX conversion will occur automatically. We will apply a currency conversion fee on open and close.

We also offer subaccounts which can be denominated in a different currency from the main account.

Read our Saxo review here

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