IFA Annual Fees

dunstonh

scotty4406 said:

Thanks a thanks all for the responses - informative and thought-provoking. I’m not here to be negative, I genuinely wanted views on what tasks an IFA should be carrying out and what level of detail I should expect to see/ get as a matter of routine. Grumpy Chap has set out some interesting information - I need to spend time to learn and understand the key questions I should be asking.
Dunstonh has provided some good examples of the background work which might be going on - I’ll look for info from my IFA around these issues.
Appreciate folks taking the time to respond!

Can you confirm what the actual adviser charge is?  is it 1.5% or was that the total of everything built in?
Is the person actually an IFA?  for example, a lot of SJP funds have an AMC of 1.5% and they don't declare charges in the same way IFAs do.   Over half of people seeing FAs think they are seeing an IFA.  So, that cannot be ruled out unless you check and it may explain the way you have given us the charge info.

scotty4406

dunstonh said:

scotty4406 said:

Thanks a thanks all for the responses - informative and thought-provoking. I’m not here to be negative, I genuinely wanted views on what tasks an IFA should be carrying out and what level of detail I should expect to see/ get as a matter of routine. Grumpy Chap has set out some interesting information - I need to spend time to learn and understand the key questions I should be asking.
Dunstonh has provided some good examples of the background work which might be going on - I’ll look for info from my IFA around these issues.
Appreciate folks taking the time to respond!

Can you confirm what the actual adviser charge is?  is it 1.5% or was that the total of everything built in?
Is the person actually an IFA?  for example, a lot of SJP funds have an AMC of 1.5% and they don't declare charges in the same way IFAs do.   Over half of people seeing FAs think they are seeing an IFA.  So, that cannot be ruled out unless you check and it may explain the way you have given us the charge info.

Definitely an IFA. I'm away from home at the moment, so can't check paperwork to confirm %. I know I pay an annual investment charge and product charge in addition to the IFA fees, so the % is not an "all in" figure.