MSE News: Guest Comment: Don't sweat over stock market falls

darkpool

dunstonh wrote: »

Now there is a blast from the past.... 5% up front that is. Those days are long gone.

surely the fact that investors were charged a standard 5% indicates a culture of ripping off investors?

has that culture changed?

gadgetmind

dunstonh wrote: »

Now there is a blast from the past.... 5% up front that is. Those days are long gone.

Here is a direct quote from an IFA regards a lump sum pension contribution to my SIPP - "an initial charge of 4.5% will be applied to the monies invested plus an annual fund based trail fee of 0.5%."

Nice to see that 5% has come down!

Let's just say that I'll be cutting out the middleman on this one.

dunstonh

Here is a direct quote from an IFA regards a lump sum pension contribution to my SIPP - "an initial charge of 4.5% will be applied to the monies invested plus an annual fund based trail fee of 0.5%."

With the average being 1.8% that means you have some below and some above. Just because one goes higher than that, doesn't mean they all do.

gadgetmind

dunstonh wrote: »

Just because one goes higher than that, doesn't mean they all do.

True, but I still don't feel that "Those days are long gone." was entirely accurate. Yes, IFAs have been forced to compete with low-fee online ISA/SIPP providers, but given half a chance, I'm sure that many would still happily help themselves to 5% of someone's pension savings.

Don't get me wrong; I accept that it's skilled work and that people should be able to earn a decent living doing it, but there are still many "old school" IFAs out there, so people still need to tread carefully.

DiggerUK

bendix wrote: »

Says one of the two posters who never miss an opportunity to post links to spurious commentators saying what a great investment gold is . . .Not that you have any exposure to gold yourself, right Digger?

I have never made "links to spurious commentators"
Put up, or shut up.
..._

kar999

MSE News: Guest Comment: Don't sweat over stock market falls

.....Let's argue about IFA charges instead.

Another hijacked thread alert :cool:

dunstonh

.....Let's argue about IFA charges instead.

Do we have to...again?

Can't we talk about Terrapins and Turtles instead? .

bendix

DiggerUK wrote: »

I have never made "links to spurious commentators"
Put up, or shut up.
..._

Pffffft. Details details.

You and Asheron are interchangeable in my mind. One-dimensional zealots banging away at the same old 'you can't lose money with gold' nonsense tend to be . . .