Time to sell all non-cash Investments ?

macca1974

it does seem a very odd move by the IFA. nobody know which way the vote will go and what the market reaction will be. As has been said very odd to see an IFA try to time the markets.

Having said that if he's right and everything falls 30% in a couple of months time and he gets all of his clients to pile back into the market then he will look like the greatest fund guru in the world (and vice versa of course). But its not really what you pay an IFA for!

coyrls

I wouldn't act on my own "real bad feeling", let alone somebody elses.

HappyHarry

My IFA has a real bad feeling about the European In/Out vote, and thinks I should put ALL my investments into cash until the hullabaloo is over.

Last year, before the general election, you were moving £30,000 of your funds from Invesco Perpetual to a Skipton Cash ISA as you were expecting a market crash.

Have you really found an IFA that agrees with your strange investment strategy, or is this your own strategy which you are not admitting to?

https://forums.moneysavingexpert.com/discussion/5221580

How did it work out for you last time?

Glen_Clark

There's always something to worry about with every asset class.
So just diversify and chill

BLB53

One of the advantages of a good IFA is that they protect investors doing silly things based on irrational fears.

Sounds like this one is the opposite - think about giving him/her the boot!

Stubod

..selling everything, buying food, and moving into my shelter as we speak.....

sjw11

HappyHarry wrote: »

Last year, before the general election, you were moving £30,000 of your funds from Invesco Perpetual to a Skipton Cash ISA as you were expecting a market crash.

How did it work out for you last time?

That was his idea too !
Some of it went into Infrastructure Inv Trusts, but the rest remains in cash. The original Inv Perp UTs have been mixed, but have generally fallen over that 12 months.

macca1974 wrote: »

As has been said very odd to see an IFA try to time the markets.

He isnt really trying to time the market, or suggesting a panic sale, just saying that the risk of significant falls is high, and switching out in the next couple of months could mitigate those losses.

He berates me for holding some investments, saying I should not feel any loyalty to them just because you have held for several years

BananaRepublic

To be honest he sounds like a charlatan. I wonder if had you followed his advice, and lost a lot of money, would you get any joy by complaining to the relevant authorities? My cynical mind thinks not. Does he get commission when you buy unit trusts etc?

And why do you listen to him if you say his investment advice has not been particularly great?

My fear on Brexit is that we will stay in, for short term gain, and long term loss.

jimjames

sjw11 wrote: »

He isnt really trying to time the market, or suggesting a panic sale, just saying that the risk of significant falls is high, and switching out in the next couple of months could mitigate those losses.

He might say that but buying and selling based on predicted events IS trying to time it. So for most of the last 2 years his advice has been to remain in cash?

sjw11 wrote: »

He berates me for holding some investments, saying I should not feel any loyalty to them just because you have held for several years

It's true you shouldn't feel loyalty to investments but that's no reason to sell out of a well balanced portfolio that presumably he recommended in the first place!

AnotherJoe

sjw11 wrote: »

That was his idea too !
Some of it went into Infrastructure Inv Trusts, but the rest remains in cash. The original Inv Perp UTs have been mixed, but have generally fallen over that 12 months.

So maybe the problem is those trusts rather than this silly time the market stuff ?

sjw11 wrote: »

He isnt really trying to time the market, or suggesting a panic sale, just saying that the risk of significant falls is high, and switching out in the next couple of months could mitigate those losses.

That is the definition of trying to time the market ! And if "sell everything" isn't a panic sale, I've no idea what is. Sell the wife and kids perhaps?

sjw11 wrote: »

He berates me for holding some investments, saying I should not feel any loyalty to them just because you have held for several years

True but nothing to do with the matter at hand.