Fidelity Multi Manager Growth / Income funds

jem16

EdInvestor wrote:

Exactly so. You'tre not located in Scotland by any chance, are you?

Meaning what exactly?

GeoH_2

Yes i am?

Makes a difference?

EdInvestor

There is a Scottish advisor called Alan Steel that I find quite impressive.I have no experience of his work personally but he has long stood up in public for customers against the bad behaviour of providers ( eg Equitable Life).He is often called for comment by bodies like the Commons Treasury Committee when it investigates problems in personal finance.

He has a reputation for honesty and fair dealing, and also seems to know his stuff on investment issues.

http://www.alansteel.co.uk

Have a look at his website and see what you think.

si1503

Just as well you explained that, your original comment came accross quite differently.

jem16

si1503 wrote:

Just as well you explained that, your original comment came accross quite differently.

Ah it wasn't just me who thought that Ed seemed to be suggesting that bad service was only to be found in Scotland.

GeoH_2

EdInvest
Thanks
I will check this out

Ta

EdInvestor

Is it just me or do some (possibly Scottish) people appear to be a touch, err, defensive? :huh:

I note that Geo however did not seem to take my remark the wrong way.

Disclaimer: EdInvestor has a Scottish mother.

jem16

EdInvestor wrote:

Is it just me or do some (possibly Scottish) people appear to be a touch, err, defensive? :huh:

It's just you

Disclaimer: EdInvestor has a Scottish mother.

You should know better then.

kedj

dunstonh wrote:

Its not low in monetary value but low in commercial value for old model basis advisers. ....Dont think that we all feel the same.
.

Thanks for clarifying.

As per DIY-ers overstating the risk position, I think this might often be the case too. As a DIY-er myself it is tempting to go for "exciting" funds. But I have been able to learn this lesson on smaller amounts. Thats a reason I suggested I would be more inclined to look for an IFA if I was starting with a bigger portfolio. You dont want to go through a steep learning curve with your life-savings!

I can see benefits to a MM fund. After all, if I think I can look after my own investments and pick my own funds better than a half-hearted IFA.. then if a major investment house appoints a professional fund manager to do the same then I think he should be able to do a pretty good job of that. But, I would see a MM fund as an alternative to using an IFA... I think you're paying the IFA for nothing if he gives you a MM fund. But I suppose Fidelity couldnt advise that you dont need to take independent advice!

dunstonh

I would see a MM fund as an alternative to using an IFA... I think you're paying the IFA for nothing if he gives you a MM fund.

I would agree with you there.

Just for a bit more clarification on the commercial value of the investment, an IFA taking full commission at 3% would get £60pm on a £2k pm contribution. If that IFA is employed and the firm keeps 70% of the commission for themselves and just 30% goes to the IFA then he/she just gets £18. If there is a network, then 10% can go to the network. Plus employed IFAs often do not get the trail commission. For an NMA IFA, the trail commission is king and not the initial commission. So, an adviser that may end up with around £15pm may view that it isnt worth their while spending 10 or so hours on the work required to make a full and proper recommendation with sector allocation etc. The MM funds take care of it for them.