Spectacular failure of dabbling in the stock market..

6022tivo

Hi Guys

I don't like risking my cash.
Have a full Premium Bonds allocation and 6 x full NS&I Index linked (So glad I kept hold of these with what maybe coming). 

I had some cash come my way and fancied dabling in the stock market myself, looking at funds, buying and sometimes selling. 
the II Interactive Investor cashback caught my eye and went for that. 

So after a year or so, my portfolio is 25% down. 
I'm not too bothered, it is what it is.. Below is what I currently hold, which is terrible to be fair... I have no explanation. 
One of these is down to 0 today!

So I want to get away from II and just let a bank deal with it. 
I remember II saying there is no get out costs, so will let a bank take over this S&S ISA? 

I have a few high street bank accounts, I want a relationship where I have a meeting every year, they smile make me a cup of tea and tell me how well or badly they are doing. 
Any recommendations or thoughts on a decent high street service please?? 


Will they just transfer that portfolio as below, or should I just cut my losses and sell and transfer? 
Not sure of the best way of dealing with it?? 

EDIT - Transfer out is the cleanest option from reading the T&C's. Not sure where to tho.. 

Thanks in advance.. 

eskbanker

6022tivo said:

So I want to get away from II and just let a bank deal wioth it. 
I remember II saying there is no get out costs, so will let a bank take over this S&S ISA? 

I have a few high street bank accounts, I want a relationship where I have a meeting every year, they smile make me a cup of tea and tell me how well or badly they are doing. 
Any recommendations or thoughts on a decent high street service please??

Changing platform is unlikely to be the answer - if you want an ongoing advice service then you'd need to engage a financial advisor.

Thrugelmir

Why not simply use a multi asset investment manager such as Vanguard. Assess your risk profile and invest accordingly.  Keeps the costs down as well. 

We all learn from experience. Don't be too hard on yourself. 

dunstonh

I don't like risking my cash.

Yet you invested in high risk and extremely high risk investments

So I want to get away from II and just let a bank deal with it. 

Banks have an awful track record with investments.   Historically, very basic options, often closet trackers at very high prices.    

Any recommendations or thoughts on a decent high street service please?? 

Any local IFA if you want an advised service. Not an FA.  Not a wealth manager and not a bank guided service.

Voyager2002

Something like Vanguard 60 is likely to be suitable for you.

The kind of service that you say you want is offered by Saint James' Place, but the fees are outrageously high. A bank is likely to offer you something similar to II, but with outrageous fees.

An IFA would offer a managed service, again for a fee. Depending on the size of your portfolio this route might or might not be cost effective for you. Certainly it would have saved you from mistakes like investing in something as exceedingly high risk as Evraz (I hold Evraz only because I was given at as a free share when I signed up for something).

Audaxer

6022tivo said:

Hi Guys

I don't like risking my cash.
Have a full Premium Bonds allocation and 6 x full NS&I Index linked (So glad I kept hold of these with what maybe coming). 

I had some cash come my way and fancied dabling in the stock market myself, looking at funds, buying and sometimes selling. 
the II Interactive Investor cashback caught my eye and went for that. 

So after a year or so, my portfolio is 25% down. 
I'm not too bothered, it is what it is.. Below is what I currently hold, which is terrible to be fair... I have no explanation. 
One of these is down to 0 today!

So I want to get away from II and just let a bank deal with it. 
I remember II saying there is no get out costs, so will let a bank take over this S&S ISA? 

I have a few high street bank accounts, I want a relationship where I have a meeting every year, they smile make me a cup of tea and tell me how well or badly they are doing. 
Any recommendations or thoughts on a decent high street service please?? 


Will they just transfer that portfolio as below, or should I just cut my losses and sell and transfer? 
Not sure of the best way of dealing with it?? 

EDIT - Transfer out is the cleanest option from reading the T&C's. Not sure where to tho.. 

Thanks in advance.. 

When you say you had some cash, how much did you invest in total? If it is not that much, you might be as well putting it all into Vanguard LifeStrategy 80 if you are happy with that level of risk. Probably better than transferring to a high street bank to invest in view of the charges.

redpete

6022tivo said:

<my investments have performed badly...>

So I want to get away from II and just let a bank deal with it. 

That performance has little to do with the platform on which you hold the investments.  They would have performed just as badly somewhere else.

How much do you have invested in these funds?  Are you willing to pay someone for a chance of doing better than you have with your somewhat random set of funds?   If so, how much?  (You say you just want a meeting with a cup of tea each year, no suggestion you want advice.)

One of these is down to 0 today!

Are you sure? That would be something catastrophic, like the fund manager going bust with no protection of investors' money.

6022tivo

Thanks to everyone so far.. 

Looking at @Voyager2002
Vanguard 60

I could just stick to the vanguard options from II possibly? 

I think from previous reading that II with it's monthly cost isn't too bad if the value held is high as the percentage is less? 
If that makes sense.. Like a cut off. 

Or should I just jump to Vanguard Direct? 


If I go for the local IFA @dunstonh route, I just google the local area, or is there a IFA rating and review type site/list. 
I always worry about them being carless or just sales/commission focussed, but I hear that comment a lot on here. I know they are not charity.. 

Sorry for being so basic speaking..

6022tivo

redpete said:

One of these is down to 0 today!

Are you sure? That would be something catastrophic, like the fund manager going bust with no protection of investors' money.

Evraz.....

Something to do with Abramovich owning 29% etc etc... 
Far too much Russian Involvement 

the 0 may be because it was suspended when I looked.. 

Thrugelmir

Without wishing to sound facetious. The sums involved are too small for micro management. Time is an expensive commodity. 

masonic

My goodness! I see you've brought this up before and it is a shame you didn't go with your initial option of HSBC Global Strategy. The suspended share will probably show a non-zero value again once trading resumes, but single companies can go to zero. You could have done worse than -25% with this mix, so, silver linings...

Easiest to sell and reinvest at II if that's what you want to do. The charges are a little higher than would be ideal, but the 0.15% platform fee at Vanguard will catch up to the £10 per month at II over time. You could consider setting a stop loss on the two investment trusts just in case they've now reached their low point and are set to trend upward. I hold JMG and will be topping it up on Wednesday (along with an alternative Japan trust), so chances are it will bounce back just for that!