I would appreciate any advice anyone could give me regarding WRAPS.

My wife and I have three ISA which have not performed well.

The one is a Legal and General Flexible ISA Plan I took out about 8 years ago to pay off a mortgage, which is underperforming.

The second one is a UK Index Trust ISA, while the third is a N Tracker Trust.

We have met with a Financial Adviser, who has suggested we transfer these funds into a WRAP which they will administer. There is a 2% fee for setting this up.

I wonder if this is the right thing to do. Or should we cut our losses, and stick the funds in a high paying ISA, or leave them where they are until the markets improve.

Your comments would be greatly appreciated.

Mike

What will the WRAP offer that is more advantageous than the existing plans?

I'd recommend caution, because the person advising is offering a "solution" from which they will directly benefit financially - but so far it has not been spelled out how you will benefit.