Paying down debt is better than increasing investments

Paying back debt is the best risk-free, high yield investment available, according to Tom Elliott, strategist at JP Morgan Fleming. He said that while advisers might not get any commission from offering such advice, it would help maintain the trust of clients still smarting from the fall of the technology, media and telecoms supernova of three years ago. Speaking in Investment Week's sister publication Fund Strategies, Elliott said: 'There are no risk-free savings products that offer a higher yield than the interest charged by credit card companies or the standard mortgage interest rate...