Financial advisor?

dunstonh

Squids_in wrote: »

Just checked out HSBC global strategy as an option and it says the annual charge is 0.48 or 0.49%... has this increased as I’ve read elsewhere that it’s only 0.19%?

I’m tempted by this option as it means I can at least sit down and meet with someone to discuss the various options on offer.

The in-house HSBC sales staff sell a more expensive version.

If you want to discuss it with someone, use a local IFA. Not a sales rep from a bank.

Squids_in

That’s what I originally thought as I don’t have the time or the brain power to work this out myself.
I have small amounts of savings in a few places and just need to get on top of it, especially as I now feel slightly more adventurous than in recent years.
Could an IFA could get me back on track with a few things; pensions, savings, investments, child savings/investment etc?

Squids_in

Quick update (seeking reassurance from anyone really!)...just opened a VLS80 with a £1k lump-sum and £100/month direct debut just to get started.
Hopefully over time i’ll add to it with other investments and I also plan to alter my existing S&S with HSBC and may change it to the global strategy fund with a similar risk level to the VLS.
I’ll also continue paying in to a basic savings account as a backup.
Any advice appreciated.

cattie

No advice for you but well done on taking the plunge with the Vanguard LS fund. I've recently switched some isa holdings in other funds into Vanguard following some advice & reading posts on this very helpful & knowlegeable forum.

I was going to go direct via Vanguard to buy, but one of the posters here kinldy advised me that with the value of my isa, it would be much cheaper to go via iweb, so this is what I've chosen to do.:)

enthusiasticsaver

Squids_in wrote: »

Quick update (seeking reassurance from anyone really!)...just opened a VLS80 with a £1k lump-sum and £100/month direct debut just to get started.
Hopefully over time i’ll add to it with other investments and I also plan to alter my existing S&S with HSBC and may change it to the global strategy fund with a similar risk level to the VLS.
I’ll also continue paying in to a basic savings account as a backup.
Any advice appreciated.

Sounds like a good start. I did not start investing until my 50s so you are ahead of me. I found having other savings other than pensions gave us more options for early retirement.

I think at the level you are talking about an IFA is not needed. Definitely do not go to a high street bank. They are notoriously poor value and not independent. My advice would be read as much as you can about the funds you are investing in - Vanguard is a good diversified multi asset fund with a solid reputation. I have the VLS60 myself but am older than you. Maybe educate yourself on pensions, track down old ones and make sure you know what type of benefits you will receive and get some forecasts.


Do make sure first and foremost though that you are not investing beyond your risk profile and that you have sufficient cash reserves for you not to need this money in the next 5-10 years.