Scottish Life Endowment

absolutebounder

EdInvestor wrote: »

The best thing any investor can do is inform himself as much as possible in advance about investment issues .This applies whether he uses an advisor or not. Read threads and ask questions here, look at other websites.Take your time and don't be intimidated.

The more you know the more likely you are to be able to monitor any advisors for "commission bias" and general incompetence - of which, sad to say, there is a lot - as is obvious from the very large number of misselling cases involving products too numerous to list.

This applies with your car, your home your electical goods, your boiler and gas cooker, your garden etc
Take Edinvestors advice and you can become a jack of all trades. As Joe says use an execution only service at your peril. Investment is a complex business that requires a lot of understanding of all financial products. Even the best investors get it wrong sometimes.

EdInvestor

absolutebounder wrote: »

Investment is a complex business that requires a lot of understanding of all financial products. Even the best investors get it wrong sometimes.

You'd think all advisors were required to get PhDs, wouldn't you? Ever seen the "exams"? They are a real joke

It's not rocket science.Much of the so called knowledge advisors have is related to helping them make money, rather than you. Much of it can be ignored.

As can 90% of the rubbish financial products out there.There are 1,400 funds for instance, yet investors would only be interested in the top 10 in each category. There are probably around 14 categories, so absolute max 140 funds worth looking at ( these are usually listed on the H-L site as they do this preliminary "weeding out" for you ).

Then of course you won't be interested in all investing categories probably only half a dozen at most. Now we're down to 70 funds.Since you would only really look at the top 5, that's 35 funds you have to scan in any detail.

Starts to look a lot easier, doesn't it?

This website is useful:

www.citywire.co.uk/Funds/Home.aspx.

Top funds rated in each category.Check over differing time periods for consistent long term performance.


And of course you pay much less if you do it yourself via someone like HL.It wouldn't be a problem if paying an advisor guaranteed - or even made it strongly likely - that you made good money. But as so many know to their cost, advisors may have little more grasp of the investment issues than their clients, but rather know all too much about the stealthy extraction of the client's money for other purposes.

dunstonh

You'd think all advisors were required to get PhDs, wouldn't you? Ever seen the "exams"? They are a real joke

Have you sat and passed them?

It's not rocket science.Much of the so called knowledge advisors have is related to helping them make money, rather than you. Much of it can be ignored.

All the regulars know your anti adviser bias. There is no need to confirm it although the newer forum members can see your colours now.

There are probably around 14 categories, so absolute max 140 funds worth looking at ( these are usually listed on the H-L site as they do this preliminary "weeding out" for you ).

HL are IFAs. If IFAs are useless, why you are suggesting people refer to this IFA?

Then of course you won't be interested in all investing categories probably only half a dozen at most. Now we're down to 70 funds.Since you would only really look at the top 5, that's 35 funds you have to scan in any detail.

Now we can see why you wouldn't make a good adviser.

And of course you pay much less if you do it yourself via someone like HL.

Any IFA can undercut HL if they wanted to. Remember HL are taking commission for not giving advice. They are not some free of charge service.

But as so many know to their cost, advisors may have little more grasp of the investment issues than their clients, but rather know all too much about the stealthy extraction of the client's money for other purposes.

A little bit of knowledge is a dangerous thing. You criticise advisers yet your suggestions are woefully off the mark at times and if followed cost people a fortune. There are no one size fits all solutions yet you operate on that basis. That means you may be correct 75% of the time but what about the 25% when you are wrong?

absolutebounder

EdInvestor wrote: »

Then of course you won't be interested in all investing categories probably only half a dozen at most. Now we're down to 70 funds.Since you would only really look at the top 5, that's 35 funds you have to scan in any detail.

Starts to look a lot easier, doesn't it?

Er No in the various sectors how many funds that were in the top 5 15 yrs ago are still there

This website is useful:

www.citywire.co.uk/Funds/Home.aspx.

Top funds rated in each category.Check over differing time periods for consistent long term performance.

Is it not true that past performance is no guide to future performance?


And of course you pay much less if you do it yourself via someone like HL.It wouldn't be a problem if paying an advisor guaranteed - or even made it strongly likely - that you made good money. But as so many know to their cost, advisors may have little more grasp of the investment issues than their clients, but rather know all too much about the stealthy extraction of the client's money for other purposes.

This is complete rubbish around 16 yrs ago the Pearl and vco-op with profits funds were top of the tree over 10 and 15 yrs where are they now?
How much do you make from investments?

JoeK_3

EdInvestor wrote: »

You'd think all advisor's were required to get PhDs, wouldn't you? Ever seen the "exams"? They are a real joke

It's not rocket science.Much of the so called knowledge advisors have is related to helping them make money, rather than you. Much of it can be ignored.

As can 90% of the rubbish financial products out there.There are 1,400 funds for instance, yet investors would only be interested in the top 10 in each category. There are probably around 14 categories, so absolute max 140 funds worth looking at ( these are usually listed on the H-L site as they do this preliminary "weeding out" for you ).

Then of course you won't be interested in all investing categories probably only half a dozen at most. Now we're down to 70 funds.Since you would only really look at the top 5, that's 35 funds you have to scan in any detail.

Starts to look a lot easier, doesn't it?

This website is useful:

www.citywire.co.uk/Funds/Home.aspx.

Top funds rated in each category.Check over differing time periods for consistent long term performance.


And of course you pay much less if you do it yourself via someone like HL.It wouldn't be a problem if paying an advisor guaranteed - or even made it strongly likely - that you made good money. But as so many know to their cost, advisors may have little more grasp of the investment issues than their clients, but rather know all too much about the stealthy extraction of the client's money for other purposes.

Sorry EdInvestor but it's not the exams that make an IFA, that's only the start. It's years of learning and experience of getting it right and wrong and slowly and honing one's experience and abilities.

It's certainly not taring everyone with the same journalistic recommendations.

You should be aware that each person needs to be treated as an individual and it's important to ask questions and then listen to the individual answers.

Sadly there are bad people in all walks of life but the financial adviser has been hit heavily by retrospective legislation that can't be avoided, unless you have a cristal ball.

JoeK

JoeK_3

Pobby wrote: »

I don`t need the endowment to pay off the mortgage.SL say that I cannot transfer into another fund.

What about your health and do you need the life insurance?

JoeK