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Barclays Personal Investment Management
Emerson1
Posts: 2 Newbie
Did anyone invest in a BPIM in 2000 and find that, including interest and dividends, their investment is still less than it was originally even though FTSE 100 is back to where it was at that time?
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Comments
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Bank investment management is expensive. Not just a little expensive but big time.
I have had experience taking over management of a couple of bank portfolios and they charged 1% on top of the normal charges (including initial charges on UTs) and would churn and switch far too frequently. The reporting was weak and the staff turnover was heavy.
Even at sector average performance, a year 2000 sector allocated portfolio should be up around 75% if medium risk. The fact you are still in deficit is alarming.
Are you taking withdrawals?
What risk profile is the portfolio managed to?I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Dear dunstonh,
Attitude to risk is 'Balanced'. Have made no withdrawals, Interest and Divs are about £10k more than charges but portfolio only 93% of original value. BPIM refuse to compensate.
Regards,
Ermerson10 -
Investment returns are not something you can complain about i'm afraid. Although investing outside of your risk profile is.
An average balanced spread (so not picking best funds) invested in Jan 2000 would be about 40% up now. That said I looked at the worst examples possible and that could be as much as 35% down. However, you would have to have had extremely bad luck, bad judgement and bad everything to end up at that level. Even a bog standard, mid table insurance company balanced managed fund returned 15% in that period.
2000 was a very poor time to start investing (with hindsight) and with the heavy charges you pay for using a bank (and i cannot understate how heavy these charges are) and a bit of bad luck, that is why you are in a negative position.
Hopefully, Chrismaths (an investment manager who posts here) will spot the post and make a comment.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
I could set off on a big anti-Barclays rant, but it would be churlish of me to have a go at a company so poor and expensive that ex-barclays and gerrards clients are a large source of new business to us.
Acquaintance of a acquaintance works in one of Barclays sales teams - incredibly low skilled in investment terms, but clearly a good sales woman. They reward them by sending giving them holidays in Bermuda, which probably tells you all you need to know.I'm an Investment Manager. Any comments I make on this board should be not be construed as advice, and are for general information purposes only.0
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