After managing my own investments for 20 years i'm finding it to time consuming doing all the DD.

crisisinchina

I have £400000 in a stocks and shares ISA and I'm seriously thinking of transferring the money to do-it-for-me platforms as i find it time consuming/sometimes slightly stressful doing my own due diligence and research.

For diversification i am thinking of splitting the money between Vanguard Life strategy, Nutmeg and Wealthify.

Any reason as to why i shouldn't go down this avenue? Any negative feedback on the 3 firms i'm thinking of using?

george4064

Nothing wrong with Vanguard, but I think (as always) you should be conscious of fees.

Does Nutmeg and Wealthify really offer value for money in the robo managed portfolios they offer?

Also, how is your £400k invested at the moment? 

And how have you been managing it over the 20 years? (I’m thinking do you make tactical tilts, rebalancing, how you treat dividends, how often do you review your investments etc).

masonic

Some more options as alternatives to Vanguard LifeStrategy for you to consider: HSBC Global Strategy, L&G Multi Index, Blackrock Consensus. Or a couple of ETFs covering global equities and fixed income.

With £400k, you could also consider use of an IFA.

older_and_no_wiser

You could also consider InvestEngine. They offer both a fee free DIY option and robo for a 0.25% fee. There's also £50 welcome bonus.

If going down the LifeStrategy route, with that high amount of investment, Interactive Investor would be a cheaper platform (£10 a month) as they are fixed fee rather than percentage - and a £100 introduction Cashback.

crisisinchina

george4064 said:

Nothing wrong with Vanguard, but I think (as always) you should be conscious of fees.

Does Nutmeg and Wealthify really offer value for money in the robo managed portfolios they offer?

Also, how is your £400k invested at the moment? 

And how have you been managing it over the 20 years? (I’m thinking do you make tactical tilts, rebalancing, how you treat dividends, how often do you review your investments etc).

I'm ashamed to say I'm probably daft in the sense i'm invested with Hargreaves Lansdown. Mostly invested in the funds they recommend (e.g Neil Woodfords. OUCH!) I always reinvest dividends. I try and diversify as much as possible between sectors/regions which means i hold lots of different funds. Don't rebalance as often as i should. I now just want the whole lot done for me.

With regards to Nutmeg and Wealthify, maybe i'm naive but when i google best robo managed portfolios they always come recommended? 

george4064

swleventhal said:

You could also consider InvestEngine. They offer both a fee free DIY option and robo for a 0.25% fee. There's also £50 welcome bonus.

If going down the LifeStrategy route, with that high amount of investment, Interactive Investor would be a cheaper platform (£10 a month) as they are fixed fee rather than percentage - and a £100 introduction Cashback.

I would personally not move a £400k portfolio to a newcomer platform such as InvestEngine, the company started trading as recently as April 2019, produced a net loss of c. £1.25m for the year ended 31 March 2020.

Not sure how much this £400k ISA is relative to OP’s other assets, but I would imagine a considerable amount. Considerable enough that you wouldn’t want it to get caught up with a firm that may go into administration due to their losses made..

Finally, I highly doubt a £50 sign up reward is going to tempt someone with a £400k portfolio! 0.0125%

crisisinchina

A 400k loss would take me a life time to get over. In fact it would probably cause me to top myself!

dunstonh

I'm ashamed to say I'm probably daft in the sense i'm invested with Hargreaves Lansdown. Mostly invested in the funds they recommend (e.g Neil Woodfords. OUCH!)

Unless you were on their restricted advice service, then HL did not recommend funds.    Woodford was easily avoided by proper due diligence.   It is amazing how many were blinded by the man and ignored the method.

With regards to Nutmeg and Wealthify, maybe i'm naive but when i google best robo managed portfolios they always come recommended? 

Seeing as the robo market is tiny, it is not surprising to see their names pop up. Especially considering the marketing they carry out.       You appear to already have suffered due to marketing in the past with your Woodford investing.   Are you letting marketing drive this decision too?

george4064

@crisisinchina I think you would really benefit from speaking to an IFA (INDEPENDENT Financial Advisor). They will be able to explain everything to you and handhold you through the process to ensure you invest in an appropriate portfolio, both in terms of risk tolerance and suitably diversified.

kuratowski

Agree with others, if you're looking for lower effort your best choice is to use an IFA.  Robo-advice is for people with small pots for whom full advice is poor value, you're in a much better position than that.  You don't mention pensions at all - if you have everything in a S&S ISA, then maybe you are missing a trick on tax relief.
If you decide to stay DIY, presumably for cost reasons, Vanguard LifeStrategy is a multi-asset fund so not comparable to Nutmeg/Wealthify, rather look at the other options mentioned by Masonic, and look to hold via a fixed fee platform.

JohnWinder

If you're tired of due diligence and research, reflect on whether you're over-egging the omelette. There's not a lot that's needed, and it only needs doing once, properly.

Here's Rick Ferri's stages in the education of an index investor:

1. Darkness – get rich quick. What hot stock tip can you get in the doctor’s lounge. This is the pursuit of “hot stock tip that will make me rich quick”
2. Enlightenment – reached by an epiphany that low cost index investing is the way to go.
3. Complexity – rabbit holes such as perfect optimal allocation, products, factor investing paralysis by analysis
4. Simplicity – you realize that none of the complexity matters, it is all about asset allocation. Complexity just provides more money for the financial industrial complex. Be simple to achieve your goals  https://www.fiphysician.com/the-education-of-an-index-investor-an-future-book-by-rick-ferri/

You're well on the way by the sound of it.