Cavendish Online

property.advert

Aegis wrote: »

Not even close. Don't want that sort of business, so I'd be deliberately pricing myself out of the market for that type of request!

Just like the recent Which? investigation which saw one IFA request £2500 for making a £5000 investment !

dunstonh wrote: »

Cavendish are IFAs.

I was referring to comments made historically where it was claimed IFAs could offer life assurance quotes which beat those provided through Cavendish.

If Cavendish do it for £35 or so and probably some volume backhander from the insurer, I was intrigued as to how an IFA could possibly do it cheaper overall ?

I mean, once a full or part commission was retained by an adviser or a fee paid, where are these policies which are so cheap ?

Aegis

property.advert wrote: »

Just like the recent Which? investigation which saw one IFA request £2500 for making a £5000 investment !

Something like that, but I'd make it clear that it wasn't good value and that I wouldn't recommend them proceeding. If someone came to me with JUST that as a request, I'd simply decline their business unless I had a good reason to offer them a rate that wasn't truly worth my time.

The Which? study was flawed for that exact reason. The firm charging £2,500 was clearly in the market as a HNW adviser with a minimum fee of £2,500 (hence why the same figure came out for the stakeholder transfer of £5,000 and the ISA transfer of £10,000). No consumer in their right mind would (or should) pay that fee for such a small piece of business, so they were never going to be considered, but they may well have offered extremely good value for money on, say, half a million.

dunstonh

Just like the recent Which? investigation which saw one IFA request £2500 for making a £5000 investment !

There is a regional IFA near us that have a flat £2000 for everything. Whether it be £2000, £200,000 or £20,000,000. It's target market is not the £5000 investment and in reality they would turn it away (as would I and many other IFAs). The problem with the Which? article is that it doesnt say what types of IFA they contacted. There are very many business models.

I was referring to comments made historically where it was claimed IFAs could offer life assurance quotes which beat those provided through Cavendish.

The test was done a few years ago. However, more recently it was done again and found nothing in it. Some were a few pennies more, some a few pennies less.

If Cavendish do it for £35 or so and probably some volume backhander from the insurer, I was intrigued as to how an IFA could possibly do it cheaper overall ?

They are not getting a backhander. They have a "factory line" style of processing that can handle the volume and its a area of business that no advice based IFA would want to go down.

buffman

dunstonh wrote: »

They have a "factory line" style of processing that can handle the volume and its a area of business that no advice based IFA would want to go down.

Which is why it is outstanding value for any investor who requires an execution only service.

matt4504

I was just wondering if anyone has experience of selling funds on Fidelity? It says that the proceeds can take up to seven working days to come back to the bank account. Is it generally this long or is that just a generous estimate to cover themselves?

Hope that makes sense!

Thanks.

Jegersmart

matt4504 wrote: »

I was just wondering if anyone has experience of selling funds on Fidelity? It says that the proceeds can take up to seven working days to come back to the bank account. Is it generally this long or is that just a generous estimate to cover themselves?

Hope that makes sense!

Thanks.

I have sold bits and pieces to cash and it can take up to the specified period. Would this be a problem?

J

jem16

matt4504 wrote: »

I was just wondering if anyone has experience of selling funds on Fidelity? It says that the proceeds can take up to seven working days to come back to the bank account. Is it generally this long or is that just a generous estimate to cover themselves?

Hope that makes sense!

Thanks.

Last funds I sold via Fidelity took exactly one week from date of selling to arriving in my bank account.

matt4504

jem16 wrote: »

Last funds I sold via Fidelity took exactly one week from date of selling to arriving in my bank account.

Cool, Thanks. I appreciate there's nothing I can but i'll just hold tight!