Investing 250k

1971graeme

I have 250k to invest. Saw an adviser from Lloyds TSB who is pointing towards an Investment portfolio covering World equities, UK equity, UK property, Bonds and Cash. Looking to invest for the long term, am a cautious investor and for growth prospects only, initial charge would be 1.5% of investment then a yearly management fee.

Does this sound a good option, as new to forum and reading past posts some don't exactly paint advice from High street banks with glory. Or any help of where else to seek investment advice.

dunstonh

Does this sound a good option,

No.

These portfolio funds are designed to be sold by low skilled sales staff to low knowledge consumers. £250k in one fund. Scary really. Even if it is a portfolio fund. Really lazy and ok for £10k but not £250k

reading past posts some don't exactly paint advice from High street banks with glory.

The banks have a dreadful record on providing financial advice. They only provide a minority of the regulated advice but account for the majority of complaints at the FOS.

Or any help of where else to seek investment advice.

An IFA on fee basis should be cheaper and more professional as well as having whole of market access (which includes the Scottish Widows funds if you really wanted them)

property.advert

Largely agreed dunstonh but this investor hasn't a clue and is as likely to be ripped off by a greedy advisor as a greedy bank. The fact that someone is an IFA means nothing if the investor doesn't do some homework himself.

Makes you wonder where the 250k came from, probably a house or inheritance, unlikely to have been "worked for".

Not knocking the OP but seriously, do some work yourself or the sharks will have you for lunch, tied agent or IFA.

dunstonh

Largely agreed dunstonh but this investor hasn't a clue and is as likely to be ripped off by a greedy advisor as a greedy bank.

The stats dont support that. IFAs handle the majority of regulated advice transactions but only have 2% of complaints at the FOS (and only 1/3rd of those are upheld). Bank advisers handle a minority of transactions but have the majority of complaints. That ratio indicates its not as likely. Of course, its still possible but not as likely.

iinvestor

NO WAY. DON'T TRUST THE BANKS INVESTMENT ADVICE.

they are professional con artists, who are only interested in their commission.

be very carefull.