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Oh I see!
So am I right in thinking to stay away from trackers and management funds until everything has all been rolled out. Then take a look at these next year once all the changes are complete?
RDR is from January 2013 but the Platform Review is not till January 2014.Are ITs effected by RDR changes at all too?
Everything is affected. The whole idea is that all investment will be explicity charged and that fees for advice and platform will be the same no matter which investment you buy. The only thing that will be different will be the cost for the product itself.0 -
I would say go now with the platform that provides the interface and service you need (but not much more) and pay the appropriate charges. For a year or two differences in charging approaches wont make a lot of difference. It isnt known when the charging changes will happen and what precisely they will be. However, when the dust settles competition should ensure that charges across all online providers are pretty similar.
In that case, would it be ok to go with some-one like HL or Cavendish but to not invest in trackers as the fees are likely to go up in the near future?
Or is it best to go with someone who has already put their platform fees up for trackers like iii (and still don't invest in trackers!)?0 -
RDR is from January 2013 but the Platform Review is not till January 2014.
Everything is affected. The whole idea is that all investment will be explicity charged and that fees for advice and platform will be the same no matter which investment you buy. The only thing that will be different will be the cost for the product itself.
So I guess in the meantime, I should just go with whichever provider I feel the most comfortable with - but ensuring that their are free transfer fees for just in case!
Oh, and to stay away from trackers!0 -
So I guess in the meantime, I should just go with whichever provider I feel the most comfortable with - but ensuring that their are free transfer fees for just in case!
I think you need to look at which provider will offer you the funds you want and the service you want, rather than get too stuck on charges.0 -
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After hours of trawling through the Net Trust Site, the HL site and just Googling, I have now got my investment list down to the following funds:
- Invesco Perpetual Distribution
Mixed 20-50% shares based in mainly UK plus US & Europe.
Is taking a defensive stance
Concerns: the effects if Europe breaks up but if I take a long term view, Europe is bound to recover no matter what happens.
- Jupiter Strategic Bond
Global fixed interest with a focus on Australia
It is taking a defensive stance
- Newton Global Higher Inc
Global securities concentrating on technology and healthcare
Concerns: this is a slightly volatile investment so need to take a very long term view with this one.
- Newton Asian Income
Securities in Asia excluding Japan
Concerns: this is a volatile investment so need to take a very long term view with this one.
There are a number of other investments that I am keen on. Mainly though, it is just bad timing with yields currently giving less than the yearly fees or wanting to wait to see what happens politically ie. Europe over the next year or so.
If anyone thinks any of these are a bad idea or you think this portfolio is unbalanced, I would welcome any suggestions.0 -
Forever, the Nationwide (L&G) platform is, as you have been told, expensive as you do not get any of the fees rebated (the initial investment fee being paid explicitly and the ongoing fees being "opaque" as they are included in the unit price/NAV rather than being charged "properly"). However, the selection of funds they offer seems to be reasonable (as in, the funds they have picked seem to be rated quite well by Morningstar using their Gold/Silver/Bronze/Neutral/Poor scale), so it may be reasonable as a guide to ones that "look OK".
Have you run your portfolio through an X-Ray tool to see if your over-weight in any areas?
Some sites, such as RPlan, Hargreaves Lansdown, etc, offer sample portfolios. Maybe it's worth looking at one of those for ideas?
http://www.hl.co.uk/funds/master-portfolios
https://www.rplan.co.uk/modelportfoliobuy
https://select.bestinvest.co.uk/fund-research/select-portfolios/selectfunds#SelectFunds
(depending on how cynical you are, the platform providers may have a vested interest in recommending certain funds over others)I'm also not quite sure how he can say there is no product bias as it's L&G that he must receommend.0 -
crittertog wrote: »I read it as they're not being encouraged to have bias towards any one fund in the list they can offer..?
I dare say it is but with a closed list of funds it's at least tied if not biased. To me not biased means that you can choose from anywhere.0 -
crittertog wrote: »Forever, the Nationwide (L&G) platform is, as you have been told, expensive as you do not get any of the fees rebated (the initial investment fee being paid explicitly and the ongoing fees being "opaque" as they are included in the unit price/NAV rather than being charged "properly"). However, the selection of funds they offer seems to be reasonable (as in, the funds they have picked seem to be rated quite well by Morningstar using their Gold/Silver/Bronze/Neutral/Poor scale), so it may be reasonable as a guide to ones that "look OK".
Have you run your portfolio through an X-Ray tool to see if your over-weight in any areas?
Some sites, such as RPlan, Hargreaves Lansdown, etc, offer sample portfolios. Maybe it's worth looking at one of those for ideas?
http://www.hl.co.uk/funds/master-portfolios
https://www.rplan.co.uk/modelportfoliobuy
https://select.bestinvest.co.uk/fund-research/select-portfolios/selectfunds#SelectFunds
(depending on how cynical you are, the platform providers may have a vested interest in recommending certain funds over others)
Hi crittertog, I have found a couple of potential platforms now where there is either no upfront fees or minimal fees for a fund. So I am very happy with this thanks.
With regards to my selection, I could go with what I had with the Nationwide but when I have checked them on Trustnet and on HL, I have found that there are other similar funds which appear to be better overall or better fits with my idea of where we are heading economically. You have to remember that the Nationwide only offer 20 funds which are selected in February after all. On the other hand, I still do have one of their funds listed above so I am not ignoring their brochure either.
With regards to looking at example portfolios, I did look through the ones on HL but I didn't find any that suits my economical viewpoint. This is because I don't want to heavily invest in UK equity at the moment for two reasons: a) the uncertainty of whether the Euro zone will break up over the next year and b) I believe that western countries like the UK will not grow much but Asia and some emerging economies over the next decade will.
Anyway, my current portfolio are covering funds which are:
- mixed (UK/Intl),
- bonds (Intl which still have decent yields),
- equity (global) and
- equity (Asia)
The only downside with my current portfolio that I can see is that it is not very strong for fighting inflation. But I have the idea in mind of seeing if Europe does break up over the next year. Then when the UK based equities go down in value, I am going to be gobbling them all up :rotfl:
With regards to the xray machine to double check that I am not heavy in one area, can you advise where I can find it? I've tried googling and unfortunately, I couldn't locate it.0
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