Portfolio changes

johnnyren

 Hi 
        Just had my porfolio review with my ifa which has resulted him in recommending a number of changes  now proposing , 
14.29 brewin dolphin mps income 
14.29 fei hybrid standard life risk level 2 medium term
14.29 hsbc global asset mgt conservative portfolio c acc
14.29 lion trust fund passive moderate s acc
14.28lion trust fund sustainable future defensive managed 2 Inc
14.28 rlum (cis) Ltd sustainable managed growth trust c acc
14.28 vanguard investments life strategy 40% equity a acc
The sipp is sitting at 470 000,       any views on how it looks appreciated 
        Thanks 

BritishInvestor

johnnyren said:

 Hi 
        Just had my porfolio review with my ifa which has resulted him in recommending a number of changes  now proposing , 
14.29 brewin dolphin mps income 
14.29 fei hybrid standard life risk level 2 medium term
14.29 hsbc global asset mgt conservative portfolio c acc
14.29 lion trust fund passive moderate s acc
14.28lion trust fund sustainable future defensive managed 2 Inc
14.28 rlum (cis) Ltd sustainable managed growth trust c acc
14.28 vanguard investments life strategy 40% equity a acc
The sipp is sitting at 470 000,       any views on how it looks appreciated 
        Thanks 

It looks like a postman service where your postie delivers various reports and attempts to show value by shuffling funds. Did you manage to stay awake?

johnnyren

BritishInvestor said:

johnnyren said:

 Hi 
        Just had my porfolio review with my ifa which has resulted him in recommending a number of changes  now proposing , 
14.29 brewin dolphin mps income 
14.29 fei hybrid standard life risk level 2 medium term
14.29 hsbc global asset mgt conservative portfolio c acc
14.29 lion trust fund passive moderate s acc
14.28lion trust fund sustainable future defensive managed 2 Inc
14.28 rlum (cis) Ltd sustainable managed growth trust c acc
14.28 vanguard investments life strategy 40% equity a acc
The sipp is sitting at 470 000,       any views on how it looks appreciated 
        Thanks 

It looks like a postman service where your postie delivers various reports and attempts to show value by shuffling funds. Did you manage to stay awake?

Long enough for him to say it will do ok,     you don't agree ?

[Deleted User]

Did he explain his logic? What are the allocations to assets, regions and industries within this portfolio? Why is it suitable for you? How did he pick these particular funds? What are the costs? Why an income fund? Why so much fixed income? Are you retired? 

This will be your family’s future financial success (or not). Not your adviser’s.  You need to understand and agree with his advice before proceeding.  Hopefully he said more than “it will do ok”. 

johnnyren

I'm 56 hoping to retire at 60 ,   the previous portfolio was mainly invested in pru fund growth series a ,     he wasn't happy with it performance ,  ( neither was I ).    and recommended the changes     I am as you can probably gather at around level 4 out of ten in the risk category ,    

Stargunner

How did it perform over the last few years

johnnyren

I transferred on June 17 ,   he took 8000 for the permissions and I've withdrawn 8000,    I'm sitting with just under 458 000 at present ,      so not very well 

dunstonh

this is a duplicate thread. i have answered on the other but wont on this one.

Stargunner

johnnyren said:

I transferred on June 17 ,   he took 8000 for the permissions and I've withdrawn 8000,    I'm sitting with just under 458 000 at present ,      so not very well 

I noticed on your other thread that you started off with £466,000 in June 2017. Your IFA took £8000 and you have withdrawn £8000 so that leaves £450,000. So in 3.5 years you have made around £8000 which is around 0.5% a year. Surely that can’t be right otherwise you could have saved yourself the £8000 fee to your IFA and earned £1000’s more by putting it in a savings account.

johnnyren

Stargunner said:

johnnyren said:

I transferred on June 17 ,   he took 8000 for the permissions and I've withdrawn 8000,    I'm sitting with just under 458 000 at present ,      so not very well 

I noticed on your other thread that you started off with £466,000 in June 2017. Your IFA took £8000 and you have withdrawn £8000 so that leaves £450,000. So in 3.5 years you have made around £8000 which is around 0.5% a year. Surely that can’t be right otherwise you could have saved yourself the £8000 fee to your IFA and earned £1000’s more by putting in a savings account.

I'm afraid it is ,   I must have lost 30 000 in the pandemic 

Stargunner

Most stock markets have recovered and are now higher than they were before the pandemic started. Even passive global funds are higher than they were before the crash in February. I can’t believe that you are still trusting your IFA with your pension pot.