Are Standard Life Funds any good or is it worth me switching?

Jack_Griffin

Andydiff wrote: »

It's interesting to hear both points of view here but my financial adviser simply set my pension up in 4 different funds spread across various sectors and then left them there for a decade. He didn't move funds around regularly 'whenever needed' and so I'm wondering if any FA does this. I didn't think that FA's constantly look at all of their customers pensions changing them around when they see fit. Do they have to tell you each time they do this?
Mine even forgot who I was!

Was he taking a trail commision all this time for sweet fanny adams?

If he is doing nothing for you then perhaps you should write to SL and say he is no longer your adviser, so they stop paying him for doing nothing.

lentrix92

jem16 wrote: »

What were you looking at with HL's SIPP that is less than 0.7% amc?

Their vanguard 80/20 sipp is 0.32% +£2 p/m.

But that means as im only putting £50 p/m in (financial constraints atm) I have to put it into that fund i cannot have any other funds - as mentioned - it is min of £50 perf fund.

At stan life i can split to £50 across several funds

mania112

Andydiff wrote: »

It's interesting to hear both points of view here but my financial adviser simply set my pension up in 4 different funds spread across various sectors and then left them there for a decade. He didn't move funds around regularly 'whenever needed' and so I'm wondering if any FA does this. I didn't think that FA's constantly look at all of their customers pensions changing them around when they see fit. Do they have to tell you each time they do this?
Mine even forgot who I was!

If you agreed for him to only set the pension up then that's fair enough (although he should have an easily accessible record of who you were!).

But if he is still clipping the pension for commission and not actually providing an ongoing service, then that's wrong - and why many people have a dim view on IFA's.

Hopefully, as RDR was set-out to do, IFA's will now be perceived to have more professionalism and regulation. What you pay for WILL BE what you get from now on.

kidmugsy

mania112 wrote: »

I'm just of the mind that 'mechanics fix cars', 'painters paint walls' and 'Finance Professionals grow wealth'.

You may have left a "y" off the end there.

Jack_Griffin

kidmugsy wrote: »

You may have left a "y" off the end there.

LOL :p:p:p:p:p:p:p

jabbahut40

Andydiff wrote: »

Hence I have now taken it into my own hands to invest my money in various funds in SL which may or may not be a good idea.
I'll let you know in 14 years!

Out interest what SL funds did you switch from and did you recieve any penalties/loose bonus's? I currently have two SL pensions which hold:

Standard Life Managed Pension Fund
Standard Life International Equity Pension Fund
Pension With Profits Fund
Pension Millennium With Profits Fund
Standard Life Property Pension Fund

Thanks,

Jabba

Carpi09

Sorry if this comes across as hijacking but I didn't want to start a new thread.

If I am putting in £80 per month into a sipp, would I be better of going with a fund with a fee of 1.5% pa or a fund like VLS with a £2 pm fee?

I chose invesco income fund because the £2 sounded excessive for only £80 per month? I hope this makes sense.

dunstonh

If I am putting in £80 per month into a sipp, would I be better of going with a fund with a fee of 1.5% pa or a fund like VLS with a £2 pm fee?

Depends on what your investment strategy is. The VLS funds are good but the lower equity ones can be a bit limited in investment areas and fixed interest bonds are an area where managed funds can offer some benefit over trackers. So, a fund heavy in fixed interest bond trackers may not be ideal.

The £2pm needs to be relative to fund value. You mentioned your £80pm contribution but what is the existing fund value?

Also, remember that the VLS funds do suffer an initial charge through a dilution levy. Not a big deal but ought to be factored in when comparing charges.

I chose invesco income fund because the £2 sounded excessive for only £80 per month? I hope this makes sense.

Invesco perpetual have many funds.

Carpi09

dunstonh wrote: »

Depends on what your investment strategy is. The VLS funds are good but the lower equity ones can be a bit limited in investment areas and fixed interest bonds are an area where managed funds can offer some benefit over trackers. So, a fund heavy in fixed interest bond trackers may not be ideal.

The £2pm needs to be relative to fund value. You mentioned your £80pm contribution but what is the existing fund value?

Also, remember that the VLS funds do suffer an initial charge through a dilution levy. Not a big deal but ought to be factored in when comparing charges.



Invesco perpetual have many funds.

Thank you, it's the Invesco Perpetual Income fund.

I currently have £5640 in a S&S ISA with the VLS 80 fund but thought I would choose the Invesco for the sipp because I thought the £2 is quite high for a £80 pm contribution but what do I know?

I set up the SIPP yesterday and there is nothing in it but I will be making regular payments of £80 pm.

dunstonh

I set up the SIPP yesterday and there is nothing in it but I will be making regular payments of £80 pm.

It would be silly to use the VLS funds on a nil value starting point and a small contribution. Indeed, using a SIPP full stop is not ideal.

£80pm is £960 a year. £2pm equates to 2.50% p.a. charge against £960 fund value. It will get less every year but it will take very many years for that to become average value, let along good value. I would suggest that the SIPP is not the product you should be using with a small contribution and certainly not the VLS funds.