Moneyfarm

Voyager2002

msallen wrote: »

I'm nearly 2 months into a similar deal at the moment (£220 cb), and have no intention of keeping the moneyfarm account any longer than required to get the cashback, at which point I will sell up and put the proceeds from the (unwrapped) investment there into my regular S&S ISA. Assuming no change in the value of the investments within moneyfarm (even though it's currently up a couple of %) I will see a return equal to >40% AER on the money I put through them.

I did something similar and it STILL has not tracked on TopCashBack! I wonder how long to wait. (I have put in a missing cashback claim, but sometimes these take more than a year to resolve.)


Do I lose the cashback if I withdraw the money?

msallen

Voyager2002 wrote: »

I did something similar and it STILL has not tracked on TopCashBack! I wonder how long to wait. (I have put in a missing cashback claim, but sometimes these take more than a year to resolve.)


Do I lose the cashback if I withdraw the money?

I haven't got details to hand, but from memory I withdrew from MF a week or two after I had met the requirements. I lost a couple of quid on the investment but still netted over £200 counting the cashback, which was paid out pretty promptly with no need to chase it up or anything. I vaguely remember topcashback advertising it as about 10 weeks and it appearing after about 11, or something like that.

blueball

The fee's you'll be paying over the course of the program would be astronomical. Think about it, over the space of 10 years 40% of your profit would be siphoned off to them in fee's.

You are better off just choosing 10 uncorrelated dividend paying stocks and holding, you'd make a fortune and not have to pay a broker who is essentially going to do the same thing with a bit of portfolio "rebalancing". Pick the top companies in each traditional sector plus put 30% of your portfolio into future markets such as AI, cyber security, defense, biotech, food production, eco-tech and space exploration.

Malthusian

blueball wrote: »

The fee's you'll be paying over the course of the program would be astronomical. Think about it, over the space of 10 years 40% of your profit would be siphoned off to them in fee's.

While it is true that Moneyfarm's charges are eye-watering, this is nonsense. Future growth is unknown and no platform charges a percentage of profits.

You are better off just choosing 10 uncorrelated dividend paying stocks and holding, you'd make a fortune and not have to pay a broker who is essentially going to do the same thing with a bit of portfolio "rebalancing".

10 stocks is an extremely high risk portfolio with a significant potential for permanent loss. There is no such thing as uncorrelated stocks. That might have been considered a reasonably diverse portfolio c. 1872, not any more.

Nobody is going to make a fortune through sensible investment, although if they have a fortune already they can grow it into a bigger one and protect it from inflation.

Pick the top companies in each traditional sector plus put 30% of your portfolio into future markets such as AI, cyber security, defense, biotech, food production, eco-tech and space exploration.

Leaving aside the fact that this portfolio is inefficient, extremely high risk and unsuitable for 99% of retail investors, you told the guy to pick 10 stocks. There are ten traditional industry sectors if you go by top-level SIC codes (and 400+ sub-sectors within those). It is not possible to cover all those sectors with 10 shares.

None of those are future markets. Defence is a 5,000+ year old market, AI and cyber security 90+, biotech 300+, food production 5,000+, and space exploration a relative baby sector at 50+ years old.

Luckily this advice is too impractical and confused for any retail investor to follow it and lose a bunch of money.

dunstonh

Pick the top companies in each traditional sector plus put 30% of your portfolio into future markets such as AI, cyber security, defense, biotech, food production, eco-tech and space exploration.

How would you manage to put 30% of 10 stocks into 7 different areas?
Some of those areas are very high risk.