Investment Management & Fees

oldbill1969

Looking for some advice on investment management fees for an inheritance of £300,000. I have no experience in this area and I have been quoted the following -  £1,500 for a full initial investment report, 1% placement fee for monies invested with an annual ongoing charge of 1% which covers all administration, ongoing advice and meetings throughout the year.
Just need a little assurance that the above is okay and I am getting value. Thanks for any advice

Albermarle

The advice on here is that you should always work with an IFA ( Independent Financial Advisor) rather than an advisor tied to a bank ( or similar) or Wealth management companies. So presuming you have done that . The initial fees look OK but considering the amount involved you should push for a lower annual ongoing fee - say 0.7% .

dunstonh

If it is £300k being invested, then 1% ongoing is high. You should be in the 0.5 to 0.75% ballpark with that amount.  1% is fine for small values but there ought to be some tapering or cap for decency.  Many firms do taper and/or cap their fees.