help... hargreaves lansdown

IPP-Believer

Edwinac

Having looked at the thread again and quoting just part of what I said really has given it a new context.

I am quite new to this board so thanks for alerting me to this trick.

Day_Trader

dougz wrote: »

I just found what HL sent me. They included the words "Our financial practitioners are highly qualified ... offers completely independent advice, considering investment solutions from across the whole market. ... we have a standard tariff so you can be confident ... won't be influenced by commission."

How does that differ from an IFA? If not it seems strange they have chosen a name that does not include independent in their title, I would have thought that would be good selling point.

It's just a title. Works for them as they've had a good year looking at their accounts. See themselves as a financial doctor more than a salesman so they're trying to shake the tag. No bad thing given some of the misconceptions about financial advisers.

margaretclare

I think a lot depends on how old you are, whether you need the money *now*, and what your aims and objectives were in the first place.

I am afraid, I 'chickened' and pulled out my H-L equity ISA about 3 weeks ago, putting it into a building society because I want money to grow. Now? I wouldn't do it now. I'd lose too much. But I'm not sorry I did it then.

dunstonh

dougz wrote: »

I just found what HL sent me. They included the words "Our financial practitioners are highly qualified ... offers completely independent advice, considering investment solutions from across the whole market. ... we have a standard tariff so you can be confident ... won't be influenced by commission."

How does that differ from an IFA? If not it seems strange they have chosen a name that does not include independent in their title, I would have thought that would be good selling point.

Marketing speak perhaps or it could be that because they have IFAs and discretionary investment managers and using the financial practitioner phrase covers them and possibly mortgage advisers and general insurance advisers that they may have in house.

StevieJ

xiox wrote: »

Can you afford to lose more? If you had the money in cash, would you buy now? These are questions you need to answer. I sold last year and am glad I don't have a tracker any more. I sleep better at night! Remember financial advisers have a vested interest in selling you complex financial products.

All my spare cash (and a bit more) went in first thing Friday morning, stocks not funds. I now have to check my cash balance to see if I can go out for a pint.

Jake'sGran

xiox wrote: »

Can you afford to lose more? If you had the money in cash, would you buy now? These are questions you need to answer. I sold last year and am glad I don't have a tracker any more. I sleep better at night! Remember financial advisers have a vested interest in selling you complex financial products.

Yes, I think I would buy now, like Philip Green who has obviously seen an opportunity! Some people made a lot of money last week when they bought large amounts of shares at rock bottom prices then sold a few days later when they had increased by a few £s (but they are the ones in the know). I look at my portfolio every day and feel a bit edgy about the way it has dropped but I'm not selling the funds I have. Over the years I have made money when companies I had shares in were taken over/merged e.g. Exel and with my single company PEP in BG I acquired Centrica, National Grid and United Utilities for nothing.

Re Hargreaves Lansdown; the last I heard is that this company is "execution only" and does not give advice unlike The Share Centre who do, for no charge. I have never used an FA and have done well with fund managers like Fidelity, M & G and Invesco Perpetual. I just hope the funds do well again in my lifetime but meanwhile I am not losing sleep over it.

Wine_Man

Just thought I'd let people know what the FSCS (Financial Services Compensation Scheme, I think) said to me today about the £50k government guarantee scheme. Aparently, as long as the bank or building society is registered for this, you can have as many names as you like under one account and each person would be covered by £50k each. In other words, if you had £1m in one account, under 20 different names, the whole of your £1m would be covered.

Aegis

Yes. It's £50k per person per banking licence.

honeyprimrose

Hello
sorry about the delayed reply,no the money is not needed at this moment in time but looking at the loss of 40k is very sickening :mad:
thanks for your replies