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Fidelity warning over top-up fees

The plans for top-up university fees mean that parents and grandparents should start saving for children&#39s education, says Fidelity.

At present, only 6 per cent of 35-54-year-olds investing in an Isa are saving for future education for their children, according to research commissioned by Fidelity.

Only 2 per cent of people of grandparent age are saving to help with further education.

This contrasts strongly with the US, where a third of grandparents make a gift to their grandchild of a US savings bond to help with the costs of going to college.

Fidelity says that in the US, putting funds aside for college education for children is one of the two top savings goals.

It predicts that the cost in the US of a four-year course will be between £56,000 and £152,000 in 2019.

Last week&#39s announcement by Education Secretary Charles Clarke means that universities will be able to charge fees of up to £3,000 a year.

Fidelity executive director Ann Davis says: “Although not quite at US levels, estimates that students in the UK could face significant bills when they leave university may mean that more parents want to help build up a fund to finance their child&#39s education.

“However, they need to start investing for the future sooner rather than later as our figures show a little put away today can really make a difference.”


Predictions of boom in equity release

IFAs believe a boom in the equity-release market over the next five years could increase their income by as much as 20 per cent a year, according to consultancy TillinghastTowers Perrin. Its research found that 80 per cent of advisers predict they will conduct more equity release business in future. One in eight expect their […]

Fidelity Funds – Global Focus Fund

Friday, 31 January 2003 Type: Sicav Aim: Growth by investing in global equities Minimum investment: Lump sum £1,500, monthly £50 Place of registration: Luxemburg Investment split: 100% in global equities Isa link: Yes Charges: Initial 5.25%, 3.25% Isa, annual 1.5% Commission: Initial 3%, renewal 0.5% Tel: 0800 414181

Off-panel advice could be disastrous, says Smee

FSA proposals to allow multi-tied advisers to recommend products outside their usual range is a recipe for disaster and raises serious training and competence issues, claims Aifa director general Paul Smee. The proposals, outlined in the draft rules for depolarisation in consultation paper 166, would allow tied or multi-tied advisers to recommend off-panel products if […]

Clash of the crystal balls

What price property market surveys? Homeowners and buyers are baffled by the clashing lender surveys which not only fail to agree on what will happen to house prices but can&#39t even come to a consensus on what has already happened. There are a multitude of surveys produced by lenders with forecasts for this year which […]


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