Killick & Co??

balooney2000

I am considering moving a portfolio from an IFA who has recently become tied and is now only able to offer limited funds.

From what I have read Killick & co are a reputable company but I cannot find any reviews positive or negative about this company. Has anyone used their services and how were they?

Nicholas-bloody-Parsons

There was a few bad stories in the press about them heavily investing their clients money in internet, media and tech shares, at the top of the market, just before the tech crash about 10 years ago.

According to this newspaper, they lost one of their clients £2m. http://www.standard.co.uk/news/tv-tipster-blamed-for-huge-losses-6324224.html

There use to be a website with all the horror stories on http://www.mykillikaccount.co.uk , but its no longer active.

gadgetmind

Is this portfolio and ISA, SIPP or unwrapped?

Are you wanting to manage your own investments or have someone do it for you?

balooney2000

The portfolio is in an ISA. We want it properly managed as we do not have the knowledge to do this.

Our current IFA sold us this service but in 4 years has never advised us to sell anything only to increase our investments, and choosing funds has been a case of him telling us which sector would suit our portfolio and then looking for AAA rated funds, and asking which we fancy! The portfolio has made 1.5% over 4 years - we would have done better in a building society!! We are now looking for an alternative.

gadgetmind

That's an impressively small return to get during one of the strongest bull runs over the last few decades!

As for selling anything, this would normally only be done as part of rebalancing, and ongoing investments can normally do this anyway. I say "normally" as you might buy and sell if you were trying to time the market, which tends to be rather difficult/impossible to achieve.

Your options are -
1) Use another IFA.
2) Setup a self-managed ISA using fairly simple components that mostly rebalance for you.

I used to do (1) but decided to read a book or two so I am comfortable doing (2). I now sleep far more soundly!

balooney2000

Thanks gadgetmind.

Have you used Killick & Co or a similar outfit? We are trying to find out what people who have used this type of service think of it.

gadgetmind

No, I haven't used Killick or similar.

An IFA stuck me into some auto-rebalancing funds on Skandia, and after a few years, I belatedly realised that 0.5% a year is a lot to charge for something a computer is doing automatically!

Jegersmart

balooney2000 wrote: »

The portfolio has made 1.5% over 4 years - we would have done better in a building society!! We are now looking for an alternative.

If you invested before the crash then it is no wonder the fund may only be back to close to break even, but it does depend on how it is invested. There are always going to be times in the stock markets where for a specific period you would have been much better off stuffing your money in your mattress to be fair.

I would think the average IFA would do better than this . I would think many on here would (and have) done much better than this.

There are some sites that offer links to independent financial advisors, perhaps this could be an option?

J

gadgetmind

Jegersmart wrote: »

There are always going to be times in the stock markets where for a specific period you would have been much better off stuffing your money in your mattress to be fair.

True enough, but those who say they can see these coming are best treated with caution.

It would be interesting to know the exact period in question as 2009 to now is just over four years and have been glorious. If it's actually five years ...

Linton

gadgetmind wrote: »

True enough, but those who say they can see these coming are best treated with caution.

It would be interesting to know the exact period in question as 2009 to now is just over four years and have been glorious. If it's actually five years ...

The same thought occurred to me, but then the OP says he has been adding to the ISA in the meantime, so ????

OP - Please can you let us know what funds you have in your portfolio and when they were bought. This 1.5% is interesting.

jayship

Have u thought of Hargreaves Landsdown advisory service although i manage my own via HL. If u have a certain amount their initial advise is free. Give them a ring to get some info.