Accounting Method

Name: Nguyen Nam Long Unit 9: Investment

Class: CQ49/51.02

Entry 2

10th February

* Reference: http://www.bbc.co.uk/news/business-10604367

* Headline: The dangers of taking investment advice from your bank

* Vocabulary:

+ shrink (v): become smaller or draw together

+ notoriously (adv): to a notorious degree

+ exotic (adj): strikingly strange or unusual

+ prompt (adj): performed with little or no delay

+ incentivise (v): provide (someone) with an incentive for doing something.

* Summary:

It's the fact that investment in bank can bring profits but remains potential dangers. This is because of the advice from the banks. The case of Barclays Bank is a real example. This bank is not getting advice that is suitable for their customers. Sue Murton and Heather Spicer are two of hundreds of customers who lose large chunks of their life savings after receiving advice from in-branch advisers. They finally received compensation, but there are too many victims who are still not taking back the money that they lost. In conclusion, people should be aware when investing in bank.

* Personal response:

From this article, I have seen the potential risk of sending money to the bank. The real cases show that we need to be wary of advice from the bank and consider carefully to avoid losing large amounts of money.

The dangers of taking investment advice from your bank

By Ian Rose and Andy VerityBBC Two, Money Watch

Interest rates for savers are at their lowest levels in history, so many people are turning to investment funds to get their money to work harder.

The problem is they are taking advice from their High Street banks and, in some instances, they are not getting advice that is suitable for them.

Sue Murton, from Aldeburgh, is among hundreds of customers who have complained to the Financial Services Ombudsman, after receiving poor advice from in-branch advisers which led to them losing large chunks of their life savings.

Sue wanted to...