I no longer have an IFA

gadgetmind

BLB53 wrote: »

From what I have seen of your posts here and advice given to others, I would think you know as much if not more than many IFAs in the areas in which you invest.

Coo, I'm blushing!

BTW, the conditional "areas in which you invest" is very important. I know little of structured investments, final salary pensions, the benefits system, and much much more. I've learned (most of!) what I need to know for my own purposes, and have picked up a few other bits along the way.

dunstonh

gadgetmind wrote: »

4% up front and 0.5% annual.

Which indicates transactional. Servicing tends to be much lower upfront. Either a fixed monetary amount of a more reasonable level or around 1% varying on model.

Wobblydeb

gadgetmind wrote: »

He's said bye bye to well over £1k a year in trail. Despite this being a lot to you or I, I'm sure it was small beer to him.

Maybe the real reason he wasn't interested is that he knew that I wasn't putting any more funds his way. At 4% of all contributions paid into pensions and ISAs held via him, is it any wonder I choose to go go elsewhere?

Gosh, I didn't realise trackers paid a trail - is that correct?

gadgetmind

Wobblydeb wrote: »

Gosh, I didn't realise trackers paid a trail - is that correct?

My investments via the IFA were all in his choice of funds, all of which had high fees, some of which went back to him.

Anyway, all of that lot should have been flogged this week and the money should hit my SIPP shortly, perhaps just in time for France to be downgraded.

sweeneytodd

gadgetmind wrote: »

He's said bye bye to well over £1k a year in trail. Despite this being a lot to you or I, I'm sure it was small beer to him.

Maybe the real reason he wasn't interested is that he knew that I wasn't putting any more funds his way. At 4% of all contributions paid into pensions and ISAs held via him, is it any wonder I choose to go go elsewhere?

You're probably right fella you're almost every professional's nightmare.

I note from your other posts that the car tuning industry is also mourning the loss of your custom such is your ability to pick up new skills rapidly;)

Is there any limit to your amazing ability?:T

Have you ever thought of putting your money where your mouth is and starting an advisory business, or perhaps a performance tuning outfit?

gadgetmind

sweeneytodd wrote: »

You're probably right fella you're almost every professional's nightmare.

I'll have you know that I get on great with my accountant; he says he learns something new every time I visit.

I note from your other posts that the car tuning industry is also mourning the loss of your custom such is your ability to pick up new skills rapidly;)

My wife says that I don't have hobbies like other people, more of a series of unfortunate and all-consuming obsessions.

Is there any limit to your amazing ability?:T

Again, my wife has views on this particular subject!

Have you ever thought of putting your money where your mouth is and starting an advisory business, or perhaps a performance tuning outfit?

I'm not a paperwork person, and hate rules and regulations, so the former is out of the window. The latter might be a nice hobby in retirement but I'd probably lean towards designing some of the electronic doohickies (sorry about the jargon) that are required and having them mass produced.

I prefer creating things to doing things as these creations can then keep on generating income with little ongoing effort required. For example, I'm still getting royalty cheques for something I did in 1985! OK, they aren't large cheques but every little helps.