aju
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Post by aju on Nov 5, 2019 8:35:52 GMT
In this months (October 2019) statement email there are some interesting items one of which is Has anyone got this and knows what the options are?.
Myself and Mrs Aju are logging in daily but have not as yet seen anything mind you only got the email yesterday I think
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cb25
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Post by cb25 on Nov 5, 2019 8:49:57 GMT
In this months (October 2019) statement email there are some interesting items one of which is Has anyone got this and knows what the options are?. Myself and Mrs Aju are logging in daily but have not as yet seen anything mind you only got the email yesterday I think I didn't get anything like this when I logged in this morning, though - as you post - it does say "We will be rolling this out to all investors over the coming weeks"
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Post by Deleted on Nov 5, 2019 9:15:10 GMT
I didn't get anything like this when I logged in this morning, though - as you post - it does say "We will be rolling this out to all investors over the coming weeks" As above
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aju
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Post by aju on Nov 5, 2019 9:20:31 GMT
In this months (October 2019) statement email there are some interesting items one of which is Has anyone got this and knows what the options are?. Myself and Mrs Aju are logging in daily but have not as yet seen anything mind you only got the email yesterday I think I didn't get anything like this when I logged in this morning, though - as you post - it does say "We will be rolling this out to all investors over the coming weeks" I'm wondering how they might define the 1 of 4 investor types and especially in my context of having been a P2P investor for over 10 years now, Mrs Aju has been less so but simply since she was still working and the cash we had at the time was not wise to be committing to 2 accounts, also I was not paying tax and she was and ISA's on P2P were not even considered. We are in two P2P companies and with that we are investing in 2 or more products at any one time. I guessing it may be something along the lines of Sophisticated investor (I guess thats me I think) High net worth individual (I'm not quite that I think) Commit to < 10% of free cash Others ? But I'm really curious how that works as well as there cannot just be 4 options and they need clarity too.
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Stonk
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Post by Stonk on Nov 5, 2019 9:55:01 GMT
Hmm, I wonder how they would deal with someone who asserts that they are a "sophisticated investor", yet is demonstrably the exact opposite because they have their account configured to receive Going Rate, the way RS coerces and defaults them to ...
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robski
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Post by robski on Nov 5, 2019 10:03:56 GMT
Hmm, I wonder how they would deal with someone who asserts that they are a "sophisticated investor", yet is demonstrably the exact opposite because they have their account configured to receive Going Rate, the way RS coerces and defaults them to ...
Lol Schrodlingers investor
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Post by propman on Nov 5, 2019 10:05:50 GMT
Being lazy I know, but does anyone here know whether you should include pension investments when calculating whether you are a HNWI? Also, I assume that these categories are applied per person. My wife & I have shared finances, do I really have to give a different category for the 2 of us?
Thanks
- PM
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robski
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Post by robski on Nov 5, 2019 10:07:30 GMT
In general though I think its do with not putting all your eggs in one basket etc
The FCA seemed worried people could over expose and as such they may look to limit your exposure Which would seem odd in the current world of P2P where RS would appear far more robust than some others, particular ones recently departed
I am probably slightly over exposed by some peoples views but its a personal choice. Could i afford to lose 100% of my P2P investment, yes, would I want to, of course not Its a calculated investment, and as an accountant I think I am quite capable of deciding that I want my eggs in a few baskets rather than many.
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corto
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Post by corto on Nov 5, 2019 10:30:25 GMT
Pension investments and any main property are usually left out. Mortgage or debt counts negative. Some see high networth at 100k/y income or 250k+ free to invest. There was a discussion once about what makes one sophisticated; one opinion was at least two previous p2p investments (don't remember where that suggestion came from). Declaring oneself sophisticated may have legal implications.
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robski
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Post by robski on Nov 5, 2019 10:46:13 GMT
I think its worth linking this at this point since its 99% certain this is what the questions will be in regards to www.fca.org.uk/news/press-releases/fca-confirms-new-rules-p2p-platformsKey I think is "As originally proposed, the FCA is placing a limit on investments in P2P agreements for retail customers new to the sector of 10 per cent of investable assets" "Introducing a requirement that platforms assess investors’ knowledge and experience of P2P investments where no advice has been given to them."
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Greenwood2
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Post by Greenwood2 on Nov 5, 2019 11:10:08 GMT
Growth Street have just done one, more than one previous P2P investments makes you sophisticated! But their questions designed to ensure you understand the platform were fairly good.
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upperdeane
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Post by upperdeane on Nov 5, 2019 11:54:55 GMT
I didn't get anything like this when I logged in this morning, though - as you post - it does say "We will be rolling this out to all investors over the coming weeks" I'm wondering how they might define the 1 of 4 investor types and especially in my context of having been a P2P investor for over 10 years now, Mrs Aju has been less so but simply since she was still working and the cash we had at the time was not wise to be committing to 2 accounts, also I was not paying tax and she was and ISA's on P2P were not even considered. We are in two P2P companies and with that we are investing in 2 or more products at any one time. I guessing it may be something along the lines of Sophisticated investor (I guess thats me I think) High net worth individual (I'm not quite that I think) Commit to < 10% of free cash Others ? But I'm really curious how that works as well as there cannot just be 4 options and they need clarity too. Yesterday GS asked me to answer questions at login and I seem to recall they only had 3 choices (sophisticated, hnw, <10%). Maybe RS will be similar but I've not been prompted yet.
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corto
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Post by corto on Nov 5, 2019 12:06:49 GMT
retail plus adviser could be one. too
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Post by propman on Nov 5, 2019 13:23:54 GMT
the guidance refers to "New P2P Investors". IIRC this is < 2 years. Perhaps those of us whose accounts are >2 years will be exempt.
Just logged on, was only allowed to make an offer when I self certified. So if you are not prepared to certify then you will not be able to make any offers (interestingly no category for > 2 years experience).
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pomma
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Post by pomma on Nov 5, 2019 15:57:14 GMT
the guidance refers to "New P2P Investors". IIRC this is < 2 years. Perhaps those of us whose accounts are >2 years will be exempt.
Just logged on, was only allowed to make an offer when I self certified. So if you are not prepared to certify then you will not be able to make any offers (interestingly no category for > 2 years experience).
I've just logged on and put an offer on the 1 year market - no questions asked...
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