AVIVA's MVR ate my profit

jem16

darkpool wrote: »

it wouldn't surprise me at all if one of your family was an IFA!!

No IFA in the family.

1.5% TER plus 1% annual dealing costs plus initial fees for a Unit Trust.

Odd that. I very rarely pay any initial fee through my IFA for a Unit Trust, the TER includes his 0.5% annual fee.

What might the 1% annual dealing cost be for considering the TER includes the amc plus associated charges.

Apart from all of this buying the same Unit Trust on a DIY platform such as HL would see you save 0.25% over the cost of using an IFA.

darkpool

jem16 wrote: »

No IFA in the family.



Odd that. I very rarely pay any initial fee through my IFA for a Unit Trust, the TER includes his 0.5% annual fee.

What might the 1% annual dealing cost be for considering the TER includes the amc plus associated charges.

Apart from all of this buying the same Unit Trust on a DIY platform such as HL would see you save 0.25% over the cost of using an IFA.

ehhhmmmm the TER doesn't include dealing costs...... your IFA not tell you that?

jem16

darkpool wrote: »

ehhhmmmm the TER doesn't include dealing costs...... your IFA not tell you that?

I didn't say it did or did not include dealing charges.

I asked you what dealing charges and why you think they would only be applied to buying through an IFA and not through DIY?

darkpool

jem16 wrote: »

What might the 1% annual dealing cost be for considering the TER includes the amc plus associated charges.

you did seem to question the existence of dealing costs in the above thread......

UTs have been known to churn shares held withi the UT. I certainly don't do that.

jem16

darkpool wrote: »

you did seem to question the existence of dealing costs in the above thread......

Sorry you're right - it does read like that. That'll teach me to type too quickly.

I certainly don't do that.

I assume you mean that you buy shares as opposed to funds?

darkpool

jem16 wrote: »

I assume you mean that you buy shares as opposed to funds?

yeah, mostly ftse350

jem16

darkpool wrote: »

yeah, mostly ftse350

No experience of shares apart from the few building society turned banks ones that I held so not going to comment further.

JuicyJesus

I'm only up to page 13 of this absolutely hilarious thread and I can't get enough. So many stupid people who think they, with their "common sense" wisdom, know better than people who actually know what the hell they're talking about. Watching darkpool bang his head against a brick wall repeatedly is incredibly amusing. Not doing anything for his already lacklustre spelling though.

Reminds me of one of my favourite quotes from anything ever:

"Thick people are really good at winning arguments, because they're too thick to realise they've lost." - David Cann/Chris Morris, Jam

darkpool

JuicyJesus wrote: »

I'm only up to page 13 of this absolutely hilarious thread and I can't get enough. So many stupid people who think they, with their "common sense" wisdom, know better than people who actually know what the hell they're talking about. Watching darkpool bang his head against a brick wall repeatedly is incredibly amusing. Not doing anything for his already lacklustre spelling though.

Reminds me of one of my favourite quotes from anything ever:

"Thick people are really good at winning arguments, because they're too thick to realise they've lost." - David Cann/Chris Morris, Jam

i did find your post amusing! you sound like an IFA's dream client.

my family firm uses a lot of professional advisers, sometimes the advice they give is poor i personally have queried what we were being told and as a result i managed to save the family 6 figures in tax does that make me stupid?

you keep investing with an IFA, you sound the type of person that would be lost if you had a lot of money.

magpiecottage

I took some time out yesterday.

Now I come back I see that the Dalek has climbed off the dustbin!

(this is a figure of speech and should not be taken as an indication that I believe EllenGB bears any resemblance whatsoever to the greatest enemy of Doctor Who!)

An interesting point about the dyslexia, though. An IFA (and any other firm) does have a duty to make reasonable accommodations for those with disabilities under the Disability Discrimination Act.

However, they have to know about that disability. If somebody walks into an IFA's office using a dog or a white stick to make sure they do not bump into anything then it is pretty obvious that they will not be able to read.

In that instance, I would not be impressed if the IFA simply said "I gave them the Key Features - its not my fault if they didn't read them". It would be his fault because he would have known that they could not read them.

On the other hand, the IFA is not at fault if he was not, and could not reasonably have been, aware of his customer's disability.

The problem with dyslexia is that there are no obvious signs. The customer may not have read the documents but the IFA is not at fault if they had no reason to suppose that they were unable to do so.

I encountered a similar problem some years ago when we asked a young person to read something and he was unable to do so. It was very distressing for him and the adults organising the activity but his parents had completed a form beforehand which asked for details of any disability and had said nothing about it - so we simply didn't know.