Hello.
A friend has a Capital Protected Individual Savings Account that has matured and so they have 8,000 that they need to do something with as it is now receiving a paltry rate of interest (2.5% below base rate).
They are not very investment savvy and didn't seem to realise that this bond (as they call it) was invested in stocks and shares. As I understand it their options would be to take the money as cash (and so lose the tax free benefits) or transfer it to another stocks and shares ISA.
Are there any other options available e.g. can it be put into a cash ISA? I don't think they have used their cash entitlement for this year.
If not, any good recommendations for a stocks are shares ISA provider/fund/product in these turbulent times? The investor is decidedly risk averse.
Thanks in advance.