Deferred IFA

bigadaj

orwen wrote: »

Hi,

Also have a SIPP with Hargreaves Lansdown and other investments. In comparing this month's total with last August I notice the overall amount in my account has gone down. My SIPP has increased slightly though.

Is there a window at my HL page which will explain - as opposed to just chart - rises and losses? I am curious about whether losses are due to HL fees or the vagaries of the stock market, or a combination of the two (or more) please?

Thanks.

HL are relatively expensive but variations in the value of your sipp will largely be due to changes in stock markets, bond values and anything else you have invested in. Markets performed poorly last year, I don't use hl but you can often use the chart to show how the value has varied, alternatively put them into trustnet or Morningstar as a portfolio and get that info plus things like weightings according to sectors, geography etc

orwen

Okay thanks,

The IFA I spoke to several days ago seemed to think HL were 'not too bad' yet others say they are expensive (fees). I am going to have to do some serious research into what is going on with my HL investments.

maximumgardener

what size of fund are you managing ?

is it all self managed or is your IFA fully involved (ongoing management and annual appraisals etc)?

HL seem most cost-effective with portfolio less than £40k.
it is widely reckoned.

most likely its the funds you picked with HL that need reviewing . you know that already.

dunstonh

The IFA I spoke to several days ago seemed to think HL were 'not too bad' yet others say they are expensive (fees).

They are more expensive but also not too bad. There are higher charges and there are lower chargers.

jem16

orwen wrote: »

Okay thanks,

The IFA I spoke to several days ago seemed to think HL were 'not too bad' yet others say they are expensive (fees).

If you want some opinions on here, then perhaps post the fees suggested by the IFA you're looking at along with the total amount of your portfolio as suggested.

orwen

Thanks,

Think I only need advice with pensions and investments. The initial IFA was trying to give me a finance plan for absolutely everything which - at this stage - I don't feel I need.

maximumgardener

Thats Great.
what a good idea you had to concentrate on your pensions and investments.

maybe you should visit 2 or 3 IFA's and explain exactly what you want and then pick one that you want to work with? (generally they will give you first consultation free till you decide your way forward)

orwen

Thanks, but I got a lot of help from Jem Hopefully I'm just beginning to see my way forward, fingers crossed.

maximumgardener

Good .....Jem is very knowledgeable. well done getting your head round this stuff.

orwen

A new IFA has suggested 1.5 to 2% to advise, but given no more details. They spoke for 2 hours to me about caps, tax wrappers and allowances, giving me the impression I could expect to benefit from these with professional guidance, but I've been left with nothing definite. Frustrating :-|

The IFA would not comment on my preference for pension / investment guidance - steered away - wanted to know value of my home and so forth, so presumably everything would be included in the 2% figure. I have to say I was not given a single chance to say what I wanted. When I asked for details of the client portfolios envisaged this was met with 'it's all too early to say', so after 2 hours of listening and attempting to take notes I am not that much the wiser.

All I want at this stage is basic advice on a budget and some investment guidance.