Wise investment

h59elmer

Hi I have 90000 to invest from savings and ISA's that I hold. HSBC have offered to invest it for a basic some of 2.75% into a moderate investment portfolio is this a wise move or just a run of a mill for their investment adviser. Any sensible advice would be greatly appreciated.

maxsteam

Anything promising 2.75% pa is likely to be a scam. Are you sure it's HSBC? Is 2.75% the fee or the promised return? Is there any reason why you are not happy with where the money currently is?

jimjames

maxsteam said:

Anything promising 2.75% pa is likely to be a scam. Are you sure it's HSBC? Is 2.75% the fee or the promised return? Is there any reason why you are not happy with where the money currently is?

It sounds like that's the fee for advice not the predicted return. Investments should do considerably better than 2.75% over the long term but that's quite a high fee to pay out initially.

Audaxer

h59elmer said:

Hi I have 90000 to invest from savings and ISA's that I hold. HSBC have offered to invest it for a basic some of 2.75% into a moderate investment portfolio is this a wise move or just a run of a mill for their investment adviser. Any sensible advice would be greatly appreciated.

If you have gone directly to a bank for investments, it usually is expensive. If you want to invest in an HSBC fund, they have a range of Global Strategy low cost multi, globally diversified multi-asset funds, which you could consider as a better alternative. They can be invested in via most mainstream investment platforms,

london21

Why not leave where it is or invest in low cost tracker funds. 

MX5huggy

It’s HSBC’s advice service https://www.hsbc.co.uk/investments/products-and-services/financial-advice/

Avoid avoid it’s expensive and not whole of market.

Alistair31

h59elmer said:

HSBC have offered to invest it for a basic some of 2.75%

Daylight robbery 

Apodemus

...and make sure that the portion that is currently in an ISA, stays in an ISA product!

h59elmer

jimjames said:

maxsteam said:

Anything promising 2.75% pa is likely to be a scam. Are you sure it's HSBC? Is 2.75% the fee or the promised return? Is there any reason why you are not happy with where the money currently is?

It sounds like that's the fee for advice not the predicted return. Investments should do considerably better than 2.75% over the long term but that's quite a high fee to pay out initially.

Its at the Bank, report fee £430 if I invest the money it's £2475 which will nullify the report fee. 
Moderate investment risk.

Albermarle

Audaxer said:

h59elmer said:

Hi I have 90000 to invest from savings and ISA's that I hold. HSBC have offered to invest it for a basic some of 2.75% into a moderate investment portfolio is this a wise move or just a run of a mill for their investment adviser. Any sensible advice would be greatly appreciated.

If you have gone directly to a bank for investments, it usually is expensive. If you want to invest in an HSBC fund, they have a range of Global Strategy low cost multi, globally diversified multi-asset funds, which you could consider as a better alternative. They can be invested in via most mainstream investment platforms,

You can invest directly in HSBC funds , including Global strategy , on the HSBC investment platform . Although not the very cheapest, it is quite competitive and easy to use .

OP - you can do the above directly , without the need for expensive advice , as long a  you are a HSBC customer .

  Multi Asset Funds | Ready-made Portfolios - HSBC UK

cattie

I'm invested in one of the HSBC Global Strategy funds on the iweb platform. It's £100 flat fee to open an account at iweb now, but was £25 when I opened my isa. It's one of the cheaper platform for large sums invested & just £5 for each deal you do & if you don't intend to deal very often then you'll have very little outlay.

I'm not sure of how this compares to investing via HSBC funds direct.