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Hargreaves Lansdown Financial Advisors
Comments
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How would HL calculate their total fees on a mixed portfolio with management responsibilities.
Dunno, but after they hiked their fees a year or so back, I went elsewhere and am paying <0.5% pa in fees (platform, fund, everything) for a balanced portfolio of bonds, equities, property, etc.
Why pay more?I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
The person who built up the money was a canny investor who as far as I know did it all on his own. There is no advisor to go back to.
That's usually the way. And TBH I doubt the equities and ITs that have been left are even close to train wreck, and doing nothing other than mild rebalancing, topping up ITs, and enjoying the dividends, is called for.
Note that very few IFAs can offer *any* advice on individual equities and ITs as they simply lack the training and experience. They will probably steer things towards high fee funds, as will HL in all probability.
It's a difficult one and I do often muse myself on what advice to leave for after I kick the bucket.I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
Thanks everyone.
We are going to meet any Financial Advisor together with me acting as support and a sounding board. I am attempting a little financial education before then but it is surprisingly difficult and seems to involve so many things. I have explained that it isn't me who needs to be happy with the outcome but that I will try and make sure that the outcome at least makes sense.
Circumstances have conspired (they do that a lot) to create a situation that has problems but at least shortage of money really is not one of them.0 -
gadgetmind wrote: ».................. It's a difficult one and I do often muse myself on what advice to leave for after I kick the bucket.
It really is difficult. You don't know how long you have got, nor for how long you will not be able to manage your funds, nor if something might happen to someone you planned to provide for, nor if taxes will change, nor if values change how much Inheritance Tax will be payable etc etc etc.
I have come to the conclusion that the only thing that you can do is educate those that you love to try and ensure that they understand and can cope after you leave.
I don't think that notes would have helped much here unless they were to recommend someone to sort things out.............er I forgot they did do that...ME!0 -
We are going to meet any Financial Advisor together with me acting as support and a sounding board.
That sounds sensible.I am attempting a little financial education before then but it is surprisingly difficult and seems to involve so many things.
I'd be suggesting that your friend doing something similar. They need to be able to take responsibility at some point otherwise there is a danger they will see you as a continuation of the original investor and 'everything will just work out ok'.
It does certainly raise the question of how best to leave things for those following. I have been thinking about it for sometime, and it is partly the reason why I might use an IFA.
The reality is our monies are split in several different locations from bank accounts to funds and various shares, etc. The missus would not have a clue how to get her hands on it. Worse still she could end up getting bad advice to sort it out which could end up with her losing or being scammed out of heaps of it.
It is something that is certainly on my list of things to do but have not got around to as yet. We do have powers of attorney though so we are part way there.0 -
It does certainly raise the question of how best to leave things for those following. I have been thinking about it for sometime, and it is partly the reason why I might use an IFA.
With the complexities of my pension contributions/periods out of the way, the only vaguely difficult area remaining will be moving unwrapped funds into ISAs, and ensuring it's all relatively tax efficient. I'm sure an IFA could "decorate" it all with some fancy IHT planning, and maybe a few Investment Bonds to give the old fees a boost. However, a few notes explaining target asset allocation at various stages (and how to work out percentages 'cos my wife keeps forgetting!) and it could really all be covered by "steady as she goes".I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
gadgetmind wrote: »However, a few notes explaining target asset allocation at various stages (and how to work out percentages 'cos my wife keeps forgetting!) and it could really all be covered by "steady as she goes".
Well it depends on where the starting point is. My missus ain't good with those percentage thingys either. So, talking about ITs and Funds etc might just be a step too far ....
Its my hobby but for her it would be more than a chore. A few notes won't cover it for sure!!!
But it all depends on circumstances too - in her case she would not need to depend on investment returns etc. Ideally, it would all just be a big pot of moeny somewhere gaining a little above inflation which she can use as a decreasing pot. She can use it to go galavanting or whatever tickles her fancy but mucking about with investments etc would not be wise in her case....0 -
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