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ISA Lost £3K in 6 Months - Stick or Switch ?
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So originally you spoken with this IFA and he adhised you this platform with 2.7% charge?The word "dilemma" comes from Greek where "di" means two and "lemma" means premise. Refers usually to difficult choice between two undesirable options.
Often people seem to use this word mistakenly where "quandary" would fit better.0 -
So originally you spoken with this IFA and he adhised you this platform with 2.7% charge?
Yes it was all in a document she handed to me and she did explain the charge if I didnt take any of the offerings - I dont have any recourse there I know. What she did tell me is that their offerings are just as good as an IFA's even though they had a limited number of funds by comparison, she also sold me the fund managers success record and that stochastic modeling did the rest.
The way she sold the fund she selcted to me despite the projection being 20K less than my current portfolio was that it more secure due to it being invested outside of the UK.0 -
File under MRDA:RocketRonnieRadox wrote: »What she did tell me is that their offerings are just as good as an IFA's even though they had a limited number of funds by comparison
https://en.wikipedia.org/wiki/MRDA_(slang)0 -
So was "she" an IFA?The word "dilemma" comes from Greek where "di" means two and "lemma" means premise. Refers usually to difficult choice between two undesirable options.
Often people seem to use this word mistakenly where "quandary" would fit better.0 -
2.7% charge? :eek:Save £12k in 2019 #154 - £14,826.60/£12kSave £12k in 2020 #128 - £4,155.62/£10k0
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Definitely move to global funds but given that you have already lost some value now might not be a good time to rebalance. May be wait some time until markets are a bit more stable?Marriage is hard. Divorce is hard. Choose your hard.
Obesity is hard. Being fit is hard. Choose your hard.
Being in debt is hard. Being financially disciplined is hard. Choose your hard.
Communication is hard. Not communicating is hard. Choose your hard.
Life will never be easy. It will always be hard. But you can choose your hard.0 -
After careful consideration I am taking the general advice givin in this thread and moving to the IFA who initially set up the portfolio that I have and not going with the HSBC advisor.
The original portfolio has performed at 71% since we started it some 12 years ago which is not at all bad.
The charges for the new platform the IFA has recommended are significantly lower and his advice fee is a flat rate of £425 as opposed to the £2300 odd with HSBC.
He has recommended a multi asset fund which is well diversified between some top funds such as Lindsell Train, Invesco and artemis.
Main driver - whole market exposure as opposed to limited HSBC product.0
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