Financial Industry think their clients are "muppets"?

darkpool

jem16 wrote: »

Nope

Nope.

why not just say what your IFA flogged you? is it because it's 20 different active UTs?

you happy paying over 5k each year in charges?

StevieJ

DiggerUK wrote: »

Returns come in different forms, interest from savings a/c's, dividends on equities, and increase in value to name a few.

Diversification is no more a guarantee of getting your money returned, than spreading your bets on a roulette wheel. This is why punters get referred to as muppet's by those who own casinos, as well as those in financial services.

Shhhhh, listen to the silence from the usual suspects.
..._

There are no 100% guarantees, but I would fancy a diversified portfolio over a stake in gold over the medium/long term

jem16

darkpool wrote: »

why not just say what your IFA flogged you? is it because it's 20 different active UTs?

jem16 wrote: »

We then had a discussion and built a suitable portfolio which includes a whole manner of asset classes both active and passive.

you happy paying over 5k each year in charges?

I don't though.

darkpool

jem16 wrote: »

I don't though.

it's like drawing teeth with you.

perhaps you could go onto another thread and tell people you use an IFA but don't want to talk about it?

jem16

darkpool wrote: »

perhaps you could go onto another thread and tell people you use an IFA but don't want to talk about it?

Perfectly happy to talk about my experience of using an IFA and have done so many times where it would help people.

You have asked for - and been given - the general makeup of my portfolio. The actual specifics of which funds are a matter between my IFA and myself and no-one else.

I haven't seen you post your actual share choices by the way but do feel free to do so.

darkpool

jem16 wrote: »

You have asked for - and been given - the general makeup of my portfolio. The actual specifics of which funds are a matter between my IFA and myself and no-one else.

ehhhhmm ok, you tell us your portfolio is worth 345k, but you're not happy telling us the passive/ active split.

i think you're not telling us because it's mostly active and you know in your heart of hearts you're paying good money for snake oil.

if you don't have anything interesting to post could you stop posting on this thread. perhaps start up a savings log instead?

jem16

darkpool wrote: »

i think you're not telling us because it's mostly active and you know in your heart of hearts you're paying good money for snake oil.

My head and the facts tell me otherwise.

if you don't have anything interesting to post could you stop posting on this thread.

And let you spout drivel?

dunstonh

f you don't have anything interesting to post could you stop posting on this thread. perhaps start up a savings log instead?

If you followed your own advice, this thread wouldnt even exist.

darkpool

dunstonh wrote: »

If you followed your own advice, this thread wouldnt even exist.

LOL!!! why don't you tell us your secret of making 12% a year over decades?

are you smeagold?

DiggerUK

StevieJ wrote: »

.....I would fancy a diversified portfolio over a stake in gold over the medium/long term

Defying economic reality today is 100% foolish, a 'diversified portfolio' seems more like an attempt to defy gravity.

The red flags are flying over all indicators, and show no possibility of turning green any day soon.
Employment and growth is stagnant, and when you look at the returns on products pumped by the financial services industry, you find few, if any, deliver projected returns. Many either turn in to duds, or give returns less than inflation.
Don't forget after all the fees, charges and commissions on what financial advisers sell you, you need to get a minimum 4% net to be close to beating inflation and staying ahead of the game; many don't return 4% to start with.

What needs to be acknowledged is that this crisis is real, and not something cooked up by the lunatic fringe of the precious metals community.
Financial advisers and 'diversified portfolios' don't acknowledge that simple truth. To stay in business they need the muppet's.
..._