Need advice investing a lump sum

Snowy35

Have about £200k in a managed portfolio with barclays wealth management. stocks and shares bought/sold on my behalf. it costs me £5k a year for this service. This seems expensive and I'm looking to invest else where. Any thoughts, recommendations?

A_T

It is very expensive. Is it in a tax wrapper (ISA or SIPP)?

Snowy35

The statements are complicated but it seems only 15% are in Isa's.
I was thinking of moving from Barclays wealth active portfolio and putting it in a Vangaurd fund with only .0.22 % coutside if I have read it correctly. i'm a novice so not sure what to do

El_Torro

For this amount of money it's probably money well spent to meet with an IFA so they can set you up in a more cost effective and tax efficient way.

You won't necessarily need ongoing support from the IFA if you don't want it.

You can go to a new platform and choose your own funds yourself, but in the long run you may be better off paying a bit more now to an IFA to set yourself up for the future.

WhatBox

I feel it depends on what returns you're getting from Barclays. If it's anything less than the real rate of inflation (about 5-6%) then your investment is losing its purchasing power, especially after charges.

A company I use and am very happy with is Avantis Wealth from Hove near Brighton. They invest in property-related projects and secure deposits through first or second charges. Typical returns are between 12-20% per year.

Another company I have heard good things about and am looking into more closely is Baillie Gifford from Edinburgh.

I also have some of my money in gold and silver, as gold is a good store of wealth. Silver is very competitively priced and with a silver/gold ratio of about 80:1 at the moment could be quite a prudent buy ready for the ratio to fall and exchange for larger quantities of gold for your outlay.

I also look at alternative investments that have good upside potential and that embrace the blockchain as I believe this has the potential to revolutionise the way stocks are bought and traded.

I certainly dislike having all of my eggs in one basket!

20SmthngSver

I don't know about asset management accounts but maybe you can make use of a Cash ISA to shelter some savings tax free, some pension contributions, or look at some Sharia compliant accounts as they pay some higher interest?

I mean, you could open a bucket load of Regular Savers!!!

Alexland

WhatBox wrote: »

A company I use and am very happy with is Avantis Wealth from Hove near Brighton. They invest in property-related projects and secure deposits through first or second charges. Typical returns are between 12-20% per year.

I just looked at this companies website and wouldn't touch them with a barge pole. It would be very concerning if they have taken £45m of retail customer deposits. It would suggest they are well on their way to building a size similar to the recently failed London Capital & Finance scheme.

Edi81

Whatbox - you are hardly a known poster.
OP - seek out an Independent Financial Advisor. You are always going to over pay for Wealth services from
High street banks.

lpgm

The rule of thumb is to avoid any company or service with 'wealth' in its name.

Trumpeter

lpgm wrote: »

The rule of thumb is to avoid any company or service with 'wealth' in its name.

There is a company near me that calls itself a Wealth Manager AND has SJP posters in the window AND has a Porsche with a personalised number plate sat outside.


How wide a berth should I give them?