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  • FIRST POST
    • johnD17
    • By johnD17 13th Nov 17, 2:32 PM
    • 41Posts
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    johnD17
    Investment ISAs Advice - independent or not?
    • #1
    • 13th Nov 17, 2:32 PM
    Investment ISAs Advice - independent or not? 13th Nov 17 at 2:32 PM
    Hi all - I have a chunk of money (dad's inheritance) that I need to invest for my mum (including her savings too).

    I had some free advice from what I thought was an ifa - but understand it may not be independent. They recommended using an investment ISA with at James place, however they are part owned by them.

    I also tried to find a local IFA but it went through to the same company.

    Quick search and I found a post on here pouring scorn on a recommendation to invest a big chunk of money exclusively in one at James place bond.

    I looked into Harvey landsdown for self investment but I don't know enough about choosing the fund/funds myself for such a chunk of money. I was trying to find a similar fund (conservative low risk, similar past performance figures) and came up with more questions (which I may pick up seperately - OEIC Vs unit trust, funds Vs portfolios, ready made and managed etc)

    My concern is paying an initial advice fee and a chunk of the returns percentage of this advice didn't consider whole of market and is influenced by pushing their own products.

    From working within FS I know a few people to ask, but they are split between paying an ifa and picking shares themselves (which I wouldn't want to do) via Halifax share dealing.

    Thanks in advanced.
Page 1
    • johnD17
    • By johnD17 13th Nov 17, 2:39 PM
    • 41 Posts
    • 0 Thanks
    johnD17
    • #2
    • 13th Nov 17, 2:39 PM
    • #2
    • 13th Nov 17, 2:39 PM
    St James place - not At place ! Stupid auto correct
    • eskbanker
    • By eskbanker 13th Nov 17, 7:22 PM
    • 5,815 Posts
    • 5,707 Thanks
    eskbanker
    • #3
    • 13th Nov 17, 7:22 PM
    • #3
    • 13th Nov 17, 7:22 PM
    Hi all - I have a chunk of money (dad's inheritance) that I need to invest for my mum (including her savings too).
    Originally posted by johnD17
    Why would your mum be looking to invest her savings as well as the inheritance money? It's always recommended to have (and retain) cash-based savings before thinking about investing.

    From working within FS I know a few people to ask, but they are split between paying an ifa and picking shares themselves (which I wouldn't want to do) via Halifax share dealing.
    Originally posted by johnD17
    How big is the unspecified 'chunk of money'? If it's large enough to warrant engaging an IFA then this makes more sense if you aren't confident enough to handle investment decisions yourself....
    • DrSyn
    • By DrSyn 13th Nov 17, 7:23 PM
    • 423 Posts
    • 198 Thanks
    DrSyn
    • #4
    • 13th Nov 17, 7:23 PM
    • #4
    • 13th Nov 17, 7:23 PM
    I think you should have posted this on the main Savings & Investment forum than this sub-site.

    The IFA you mentioned are considered by some on this site to have expensive charges.

    1. Before you ever see any IFA then I suggest that you look at the following website it should answer a number of your quires:-

    https://www.citizensadvice.org.uk/debt-and-money/getting-financial-advice/#h-how-much-will-the-advice-cost


    2. The following sites may be of interest to you:-

    https://protected.fscs.org.uk/about-fscs/

    https://www.moneysavingexpert.com/savings/safe-savings

    https://www.youtube.com/watch?v=_chiIIxMGl0

    http://monevator.com/how-to-chooose-total-world-equity-trackers/

    https://www.moneysavingexpert.com/advanced-search.php?q=investing&searchtype=guides


    3. Before others can make any helpful suggestions a number of questions need to be answered. Some of these are:-

    How old are you and your mother?
    What is the state of health of you both?
    How much money are you talking about investing?
    What is the amount of risk that you both are willing to take with that money?


    I hope the above will be of some help to you.
    Last edited by DrSyn; 13-11-2017 at 10:54 PM.
    • dunstonh
    • By dunstonh 13th Nov 17, 7:39 PM
    • 89,599 Posts
    • 56,079 Thanks
    dunstonh
    • #5
    • 13th Nov 17, 7:39 PM
    • #5
    • 13th Nov 17, 7:39 PM
    I had some free advice from what I thought was an ifa - but understand it may not be independent. They recommended using an investment ISA with at James place, however they are part owned by them.
    Not an IFA as mentioned. SJP are a tied salesforce who only sell their own product and investments. They are damned expensive.

    I also tried to find a local IFA but it went through to the same company.
    Is this company telling porkies about their advice status? SJP firms must not refer to themselves as IFAs. It would be a regulatory breach if they did.

    I looked into Harvey landsdown for self investment
    Sorry, that made me chuckle.

    My concern is paying an initial advice fee and a chunk of the returns percentage of this advice didn't consider whole of market and is influenced by pushing their own products.
    Which is why you should either only use IFAs or DIY. All other options should be off the table.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
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