Fisher Wealth Management

Amanita_2

Christobel wrote: »

I'm new to this site, not an employee of Fisher, but I've recently become a client.
.

What a coincidence!

jem16

Amanita wrote: »

What a coincidence!

Not at all - you're just cynical! Imagine thinking such a thing!

jamesd

It is worth noticing that this discussion is a highly ranked hit in Google for this company, so it's not too surprising if new people show up here.

Christobel might want to compare Fisher fees with those of a global growth ETF and possibly a UK one to match the allocation that Fisher uses.

jem16

jamesd wrote: »

It is worth noticing that this discussion is a highly ranked hit in Google for this company, so it's not too surprising if new people show up here.

No I don't think it is surprising to find new people joining the thread which keeps it high in Google's ranking.

Myrmidon_J

xyy123 wrote:

I'm not going to bother responding to Myrmidon because he has got personal and is way off the topic of the thread.

I've got personal?
What, like:

You are a spammer with nothing substantive to contribute whatsoever.

You're pathetic.
Besides which, as already discussed, the "topic of the thread" is Fishy Wealth Management's spam-tactics.

I'm new to this site, not an employee of Fisher, but I've recently become a client.

Hahahahaha! :rotfl::rotfl::rotfl:
You couldn't make it up...

*Dons tin foil hat*

This is written for the people, like me, who want to know what to do with their money...

Here's an idea: don't listen to a clueless **** spamming FWM!

Why not seek professional advice?
Why not visit an IFA?

marra

I too am thinking about investing with Fisher Wealth but just wonder if investing my savings with the Yorkshire Building Society for 5 years giving 5.2% is the saver bet. Can anyone advise me greatly appreciated.

jamesd

marra, for an amount up to £50,000 the YBS is the safer bet because the Financial Services Compensation scheme protects 100% of the value of the capital, so you won't lose money regardless of what happens.

If the amount is over that then you should be using more than one savings account so that you get the money fully protected by the FSCS.

Longer term it's unlikely that savings accounts will keep much ahead of inflation so you should really be looking to do some investing as well as savings accounts. If you visit unbiased.co.uk you can do a search for local independent financial advisers who should be able to help you with this aspect of it.

marra

Thanks for replying jamesd but I've tried a loyal I.F.A. who invested £100k in unit trusts in 07, recomending them the best thing since sliced bread I'm still waiting to break even. The only one winning just now is him as he still collects his annual commission. Is there anyone out there who has the clients interests at heart and not there own pocket.

jamesd

Marra, there's no reason to believe that unit trusts were the wrong choice long term. Over shorter terms they can and do move up and down a lot. How much they move up and down depends on which ones are used so it's not really possible to say whether the range that IFA used matched your tolerance for up and down movement.

xyy123

Myrmidon_J wrote: »

Why not seek professional advice?
Why not visit an IFA?

Contradiction.

To clarify: IFAs are INDEPENDENT, not IMPARTIAL. Unless you go to an IFA who is FEE-BASED he will most likely be influenced by the COMMISSION from product providers. If you do decide to go for a fee-based IFA, then ask yourself if you're satisfied with 4 hours worth of attention to your portfolio for a year (4x 1 hour reviews)?

marra wrote: »

Is there anyone out there who has the clients interests at heart and not there own pocket.

Try finding an investment manager who does not custody assets and does not receive commission for trading the portfolio. That way every investment they choose and change they make is one which they think will benefit the client (because it will benefit them!). This is FWM's main selling point.


i.e.

• Not a stockbroker, because they will be biased to equities.
• Not an IFA because they recieve commission from fund providers (oh and by the way, if they don't or they rebate the commission, its common practice for them to be wined and dined at lunches and presentations by fund providers, having worked with ex-IFAs myself). Apart from the fact that IFAs are simply not investment experts.
• Not a private bank since they will be tied to or biased towards their own products and they trade off reputation.
• Go for a firm that works solely on an AMC. Its not perfect, but its the best solution that exists right now. Their revenues go up and down with the AUM they have so its in their interests to protect your money and grow it.

You may all wonder why I hate IFAs so much? Here's one reason why. There was someone while I was at FWM who needed to do a (relatively) specialised pension transfer. It involved about 6 hours total work. If FWM had done it for him, it would have been free (part of the service). Instead, his IFA did it for him. The IFA received about £35k commission (pension of £1M+). Let me repeat that - the IFA was paid £35,000 for 6 hours work. This is on top of the AMC the IFA charged to 'manage' his portfolio.

• IFAs are not investment experts and are really for people who don't have enough money to interest a money manager. Most of what IFAs know about products can be discerned with about 10 minutes looking around on the internet.
• They have extortionate fees (ask your IFA the Total Expense Ratio of your portfolio: 1-1.5% AMC for IFA, 1-1.5% AMC on each individual product, upfront fees on the products, dealing charges - if your TER is under 2.5% you've had a result).
• They often go for 'flavour of the month' products.
• They never stick their neck out on the line with a VIEW on the markets.
• They set portfolios up so the client will neither win nor lose (but they'll do alright).

When you have £200k+, you can do better, believe me.