Wealth management performance and charges

JonathanGavin

Thanks O.M.G.
very helpful to get others takes on this. 
Would you care to share your platform?
I would be very interested to compare.

Stubod

..I assume you mean 9% TOTAL of 5 years?...(I would consider 5% PER YEAR net to be a rather good return....especially form SJP!)

JonathanGavin

Yes, 9% overall, over 5 yrs.
Am I confused here or is 5% pa more like very roughly 25% ish over 5yrs?
Maybe my maths is shot?

bostonerimus

JonathanGavin said:

Yes, 9% overall, over 5 yrs.
Am I confused here or is 5% pa more like very roughly 25% ish over 5yrs?
Maybe my maths is shot?

It would be 27.6% as the interest compounds ie (1.05)^5 = 1.276
9% over 5 years must be a very conservative and risk averse portfolio as that's 1.75% return each year.

JonathanGavin

I've been letting them manage it as I've been too busy.
They advise every Yr, what to alter and where they think I should invest.
Returns go up and down,  but on average that's my return.
I think they should do better??

Stubod

..I think 9% over 5 years (equals aprox. 2.2% per yr?), is a very poor return, you need to ditch SJP !!!!!! soon as you can!!

JonathanGavin

Thanks everyone. 
Is anyone gonna point me towards a platform that will provide the service and security with a better return and lower charges??????

Aegis

Stubod said:

..I think 9% over 5 years (equals aprox. 2.2% per yr?), is a very poor return, you need to ditch SJP !!!!!! soon as you can!!

Yeah, that's a very poor return even for the lowest risk investing.  You'd almost be better off in cash.

kuratowski

JonathanGavin said:

Is anyone gonna point me towards a platform that will provide the service and security with a better return and lower charges??????

A platform won't offer advice, and from what you've described, I think you want someone who will advise you?  In which case, you'll probably get better value by looking for an Independent Financial Adviser (unlike the tied Financial Adviser you have at present).

Have a look at https://adviserbook.co.uk/, enter your location, and tick 'confirmed independent'.

OldMusicGuy

JonathanGavin said:

Thanks O.M.G.
very helpful to get others takes on this. 
Would you care to share your platform?
I would be very interested to compare.

The platform I use is Hargreaves Lansdowne, but that is just the platform. I make my own choices about the investments on that platform which drive the returns. It needn't be complicated, I did a bit of reading and adopted a simple strategy using low cost multi-asset funds and the strategy is achieving my goals. No need for any adviser.  I read "DIY Simple Investing: A Guide to Simple but Effective Low Cost Investing" by John Edwards and that was the start of my journey.

If you don't want to do a bit of reading yourself, like others said, it's probably best to use an IFA rather than someone like SJP, who are expensive and offer a very limited choice of investments.