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any alternative to the HSBC?
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FannyPenrice
Posts: 1 Newbie
We've had a portfolio of approx £500k run by the HSBC for about 20 years. Their level of service has been dropping and the perks are irrevalent to our lifestyle.
Also about 35% is in passive funds. It seems odd that we are paying them to manage a passive fund, but our advisors say that it's quite normal.
So, is it normal, and can anyone recommend someone that would provide a better service.
Also about 35% is in passive funds. It seems odd that we are paying them to manage a passive fund, but our advisors say that it's quite normal.
So, is it normal, and can anyone recommend someone that would provide a better service.
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There are many thousand registered advisers who can run investment money, plus a fairly significant number of discretionary fund managers who can offer similar services to what you're probably getting from HSBC already (are you in their PIMS service, by any chance?). If you look around you're almost certain to find someone who's happy to have a chat about more closely aligning the service you get with what you want to achieve.I am a Chartered Financial Planner
Anything I say on the forum is for discussion purposes only and should not be construed as personal financial advice. It is vitally important to do your own research before acting on information gathered from any users on this forum.0 -
Also about 35% is in passive funds. It seems odd that we are paying them to manage a passive fund, but our advisors say that it's quite normal.
it is normal. Over 50% of most of ours is in passive funds at this time.So, is it normal, and can anyone recommend someone that would provide a better service.
Most IFAs. Using a bank tied service or bank DFM is just a waste of money and has limitations that can restrict your portfolio.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
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