Hargreaves & Lansdown SIPP for newbie

Confuciusone

dunstonh wrote: »

If you are going to end up with one of those, you may as well get an IFA to do it for you. No point paying that sort of money for a non-advised solution.

Which ready made SIPP portfolio are you refering to?

Managed or Master portfolios - Build your own investment portfolio

dunstonh

Confuciusone wrote: »

Which ready made SIPP portfolio are you refering to?

Managed or Master portfolios - Build your own investment portfolio

Build your own is fine. You make the choices so its part of DIY. However, the ready made or portfolio funds are expensive options. You dont get the cost benefit of going DIY if you use those. You get an option that is typically more expensive than an advised option without the consumer protection of advised. A jack of all trades, master of none style approach.

zagfles

dunstonh wrote: »

Build your own is fine. You make the choices so its part of DIY. However, the ready made or portfolio funds are expensive options. You dont get the cost benefit of going DIY if you use those. You get an option that is typically more expensive than an advised option without the consumer protection of advised. A jack of all trades, master of none style approach.

But if you go advised you might end up with some expensive multi-asset fund with advice fees on top, rather than a sensible mix of funds, because (apparently) the adviser needs to cover their backside and can't trust you not to do something stupid! As discussed here https://forums.moneysavingexpert.com/discussion/5553079

The HL Portfolio+ is quite expensive because they use HL's multi-manager funds, which have an extra layer of charges. But they're still less than the charges the OP of the above thread was paying for simply getting one multi-asset fund!