My Brother lives in New York, and has done for 3 years. He is a chef and if you know the industry they don't get a lot of time off, In fact he works 13 hour days at least 6 days a week. So all that money he is making out there is sitting in his account doing nothing. He is not too sure how long he will staying the US, but he would guess at least another year or so. But Understands that he will be locking it away for a period of time and is fine with that.
He has so far built up £20k which he would like to invest , He will also be keeping about £5000 in his current account. And also keeps at least a few thousand dollars in the US bank account.
His house is valued at about £70k, with no mortgage on it(He is renting the property out, while he is away)
I approached a guy I know who works for Legal and General who said he couldn't invest it because he was not ordinarily resident in the UK.
He is looking for something which protects his capital, but gives the potential to get some growth. He is not afraid of the stock market, but does not want to take major risks.
The L&G bond was keeping the capital secure and he got 70% of the growth of the FTSE over 5 years (He understands that could be no growth at all)
Is he going to get this reaction from most companies?
Anybody any suggestions for the money? I thought about some on-line account for him, but he thinks that it is a good time to invest with markets low