This'll make you wince!

shinytop

fronty wrote: »

Do you mind if I ask what funds you invested in?

Not at all. I'm doing it in chunks but the plan is to have about 80% in a combination of HSBC Balanced and VSL60 with the rest in some managed funds and a 100% equity tracker. I also have 2-3 years cash outside the SIPP. It's worth poiting out I also have a decent DB penrion so I can afford to be a bit more adventurous than I might otherwise be. I did have delusions of being able to manage my own multi-asset portfolio but have now faced facts and gone for a low-cost, "fire and forget" approach for the time being.

[Deleted User]

bostonerimus wrote: »

I have no advisor or platform fees as I hold Vanguard funds on the US Vanguard platform. I'm up 13.6% since last November.

Not a meaningful comparison.

Parking_Trouble

Triumph13 wrote: »

????
Prevaricating perhaps?

Exactly what we've been doing with my wife's SL SIPP - prevaricating over dumping the IFA.

However, her SIPP is currently valued at £398k and monthly fees amount to £30 + £135 advisor fees and £148 admin/platform fees.

The OPs advisor charges are a lot higher and the platform fee somewhat lower.

fronty

shinytop wrote: »

Not at all. I'm doing it in chunks but the plan is to have about 80% in a combination of HSBC Balanced and VSL60 with the rest in some managed funds and a 100% equity tracker. I also have 2-3 years cash outside the SIPP. It's worth poiting out I also have a decent DB penrion so I can afford to be a bit more adventurous than I might otherwise be. I did have delusions of being able to manage my own multi-asset portfolio but have now faced facts and gone for a low-cost, "fire and forget" approach for the time being.

Thanks, my investment horizon is about 10 years so I'm also looking at VLS60 and/or HSBC Balanced, although I might try a blend with VLS80 to give me VLS70... not sure yet. I might chuck a few percent into some specific funds too, I like technology and alternative energy (hydrogen, renewables etc).

I too also used to manage my own portfolio via Scottish Equitable but moved it all to a discretionary service with SL Wrap when the wife and kids came along, however I've got a bit disillusioned with the fees and poor performance, so I've finally decided to "take back control".... now where've I heard that before?

I've decided to give low cost passive investing a go, up until now my pension has been "actively" managed but I've now had enough of seeing so much going out in fees every year. I feel a bit like Neo in one of those human pods in The Matrix where he "wakes up"! ;-)

I just need to complete the transfer forms, will probably do it over the weekend. Then see if I get an email or call form my IFA asking "!!!!!! have you done?!?!?" lol

fred246

Getting rid of your adviser. Best thing you'll ever do.

MarkCarnage

fred246 wrote: »

Getting rid of your adviser. Best thing you'll ever do.

A rather sweeping generalisation.....

...for some, that may be the case, but for others it is necessary, at the right price.

[Deleted User]

MarkCarnage wrote: »

A rather sweeping generalisation.....

...for some, that may be the case, but for others it is necessary, at the right price.

I agree, but if the OP really needs an adviser, he needs to find a different one

MK62

https://www.nationwidevehiclecontracts.co.uk/car-leasing/mercedes-benz/c-class/coupe/c200-amg-line-9g-tronic-97


Just sayin.....

Malthusian

The adviser fee is 1% which is the very top of the range. (Anything above 1% is taking the p.)

If the adviser hasn't convinced the OP that they're worth it *hair toss* then they've failed to do the job they're being paid 1% a year for.

The platform fee is on the higher side for a fund of £374k, but pretty standard. The OP could do better but it will make little difference in the grand scheme. Most DIY investors pay more. A few DIY investors pay substantially less as loss-leader fees are more prevalent in the DIY sector.

JoeCrystal

fronty wrote: »

Found a button in my SL Wrap SIPP labelled "Charges"... I've been pontificating too long, it's time to ditch the IFA...[/code]

Ouch! Just out of interest, what does your IFA do for you as ongoing service charge?