Best Option for Cash Lump Sum

DoneWorking

Obviously not going to get anything done before new year

I've decided that I have two options

 Stick with savings and bonds and accept that my funds will depreciate over time by inflation less returns

Go with savings/bonds plus investment option and accept risks plus ifa fees

Under this option I may do better than above option 
However I may also do worse

I'd appreciate your final comments

dunstonh

I've decided that I have two options 
Stick with savings and bonds and accept that my funds will depreciate over time by inflation less returns
Go with savings/bonds plus investment option and accept risks plus ifa fees

Actually, you have a third option. A combination of the two.

DoneWorking

Thanks all

I'm still waiting to make a decision on this matter

Is it a valid option to wait until the end of this year and take the hit on inflation 
This will give me time to make the right decision

As an alternative plan

Could I just ask Hargreaves and Lansdown or St James Place to set up a series of simpler investment options such as Vanguard style investments plus Bonds and Savings Accounts

Or ditto via an IFA

dunstonh

Could I just ask Hargreaves and Lansdown or St James Place to set up a series of simpler investment options such as Vanguard style investments plus Bonds and Savings Accounts
Or ditto via an IFA

HL is a DIY platform.  You can pick what you like when you DIY.   They do have an advice service but their own brand funds are expensive.  SJP has no low cost options. They are one of the most expensive.     An IFA is an advised service. They take instructions from you so if you say you don't necessarily want what may be considered the best option for you but you want the cheapest then they can do that.  However, the IFA costs you money.  

If you DIY well, you can save money.  If you DIY badly, it can be a costly mistake.

DoneWorking

Thanks for reply Dunstonh

I just feel I do not want to rush into making the wrong decision

I realise if I wait a year I will lose value on my  money due to inflation compensated a little by whatever I can generate through interest on my funds

I must say I am struggling to find an IFA I feel I can trust at an overall cost which meets your suggested costs

Is 1% of funds ok for providing the proposals

Is just under 1% ok for looking after the investment proposal

Is 0.5 to 0.75 % ok for the platform and other costs

A few other comments

Can I water down my desire to use fully ESG investments
IE Compromise

What do I do about an IFA who is intending to retire in five years time

This would surely mean starting all over again

Are there any other options for Vanguard style investments with fairly reasonable costs including advice

Albermarle

DoneWorking said:

Thanks for reply Dunstonh

I just feel I do not want to rush into making the wrong decision

I realise if I wait a year I will lose value on my  money due to inflation compensated a little by whatever I can generate through interest on my funds

I must say I am struggling to find an IFA I feel I can trust at an overall cost which meets your suggested costs

Is 1% of funds ok for providing the proposals. Yes but there should be a cap of say maybe £5K 

Is just under 1% ok for looking after the investment proposal 0.5% to 1 % is normal depending on the size of your pots.

Is 0.5 to 0.75 % ok for the platform and other costs ( like fund costs) Yes

A few other comments

Can I water down my desire to use fully ESG investments
IE Compromise

What do I do about an IFA who is intending to retire in five years time

This would surely mean starting all over again

Are there any other options for Vanguard style investments with fairly reasonable costs including advice

See comments in bold . 
There is nothing special about Vanguard investments and there are plenty of similar alternatives .
If you go to an IFA , they will suggest what they think is best /preferred. 

You could go to a robo advisor - they ask a few questions and suggest an investment portfolio . However it is very basic advice .
Otherwise Vanguard , HL and Fidelity are all platforms that also have a financial advice arm . Would probably be cheaper than an IFA but the service offered seems to be a bit more stripped down/less personal .

DoneWorking

Thanks Albermarle

Looking like a fairpriced IFA is my best option

My only concern is that after all fees are taken I may not generate enough surplus to beat inflation

Is unbiased.co.uk best option for finding a local IFA

Do I need a local IFA

Or could everything be done on zoom

Albermarle

DoneWorking said:

Thanks Albermarle

Looking like a fairpriced IFA is my best option Also an IFA can offer you more than just investment advice , they can advise on tax , family finances , inheritance tax issues etc 

My only concern is that after all fees are taken I may not generate enough surplus to beat inflation That is always a possibility however you approach it . You could do without an IFA but make a pigs ear of it . Lots of different opinions on if IFA costs are worth it or not. 

Is unbiased.co.uk best option for finding a local IFA Don't know 

Do I need a local IFA

Or could everything be done on zoom. Probably better if you meet someone personally and documents can be dropped off at a local office etc but it is not necessary ( or even feasible in Covid times )

Another point is that some iFA's do the initial work on your situation but delegate the actual investing to a DFM .
This adds extra cost as they have a charge as well. Something to look out for .

DoneWorking

Thanks Albermarle
I've noticed that a few of the IFAs I spoke to were using another company for the investments

The IFA was a bit lower but there was a significant cost for the investment co

ChilliBob

It's a, direct fund suggestion, an active one at that, so it should be far from the majority of the portfolio, but Trojan Ethical has been a popular choice. It sits in the ethical/esg and wealth preservation space, might be worth a look too?

Whatever you decide investment wise can be changed at fairly low costs if you change your mind - for example if you go more general and feel comfortable there would be no harm in taking a more esg focused approach a bit further down the line. 

Also, bit of a random one, if if you have any under 18s in your family pethsps you could use a JISA and gift them some money. As I say, a totally different thought, likely to be useless, but you never know!