QUILTER CHEVIOT WEALTH MANAGEMENT, OR LACK OF?

Fatinvestor

dunstonh said:

My friend's aren't idiots and are being well advised by lawyers re their options moving forward. They just asked me to go onto this forum just to see if there were any other folk who have been having a poor, or bad, experience with Quilter Cheviot. Maybe none of their clients use this forum.

Why would lawyers be involved?    Or is it one of these claims management companies that attempt to put in complaints willy nilly (usually using the FOS)?
If your friends are using lawyers then I suspect they are not as clever as you think.   

I haven't used QC but I am aware of them and there appears to be nothing wrong with their offering in terms of what they do and how they do it.   I wouldn't use them but that is me.

Re lawyers, see comment above in reply to Albermarle. As I said I am confident that my friends aren't idiots and they are defo not dealing with a claims man't firm. 

bostonerimus

Fatinvestor said:

dunstonh said:

My friend's aren't idiots and are being well advised by lawyers re their options moving forward. They just asked me to go onto this forum just to see if there were any other folk who have been having a poor, or bad, experience with Quilter Cheviot. Maybe none of their clients use this forum.

Why would lawyers be involved?    Or is it one of these claims management companies that attempt to put in complaints willy nilly (usually using the FOS)?
If your friends are using lawyers then I suspect they are not as clever as you think.   

I haven't used QC but I am aware of them and there appears to be nothing wrong with their offering in terms of what they do and how they do it.   I wouldn't use them but that is me.

Re lawyers, see comment above in reply to Albermarle. As I said I am confident that my friends aren't idiots and they are defo not dealing with a claims man't firm. 

Plenty of smart people make investing mistakes. If the funds are actively managed then I don't see how poor performance relative some benchmark is any grounds for a law suit. It sounds more like embarrassment at losing money than anything else. Your friends should really know how their money is invested beyond some "risk category" and what sectors/companies they are ultimately buying. There is no promise of performance in an active fund. Now your friends might have a case if they had an index tracker that deviated from its benchmark by more than could be accounted for by costs and expenses. I would have more sympathy if your friends complained when/if their funds also beat the benchmark...

dunstonh

I understand that their portfolios are benchmarked again something called the PIMFA Pivate Investor Balanced Index. Whilst that index has dropped by around 5-6% this year my friends' high value portfolios have dropped by more than 10% this year, and did not do well against the PIMFA benchmark in the last quarter of 2021

Back on this point....

I have looked at that Quilter Cheviot MPS and the only one benchmarked against that is the IDX Balanced

here is the factsheet for that:  https://www.quiltercheviot.com/siteassets/documents/factsheets/qc-mps-idx-balanced.pdf

Here are the returns to 30th April 2022


YTD it has outperformed the benchmark and sector.  As it did over 1 year, 3 years and 5 years.

Markets continued to fall in May.   So, it's a few weeks out of date but the figures indicate a portfolio that generally performance in line with its benchmark.  That is to be expected as it is a portfolio that has over 90% in index tracking funds.
 
The estimated annualised volatility is 9.40%.  Realised 3 year volatility is 10.28%  realised since inception 8.22%.   


So, everything looks in line with expectations and performance has been in line with benchmark.  So, what exactly is this lawyer friend suggesting that Quilter Cheviot have done wrong?   And why do your friends seem to think that the loss they have incurred is Quilters fault?

As it stands, nothing you have said so far and the evidence available suggests no wrongdoing.   Probably just a complete misunderstanding of what they chose to buy.   And without an adviser involved, the provider is not responsible for suitability checks.

It is worth noting that this portfolio is capable of losses of more than double what the current position is (currently its is 75% equity)

The expectation for a portfolio of this risk profile is that you would be down around 10-15% from the peak point of 2021.

Fatinvestor

dunstonh said:

I understand that their portfolios are benchmarked again something called the PIMFA Pivate Investor Balanced Index. Whilst that index has dropped by around 5-6% this year my friends' high value portfolios have dropped by more than 10% this year, and did not do well against the PIMFA benchmark in the last quarter of 2021

Back on this point....

I have looked at that Quilter Cheviot MPS and the only one benchmarked against that is the IDX Balanced

here is the factsheet for that:  https://www.quiltercheviot.com/siteassets/documents/factsheets/qc-mps-idx-balanced.pdf

Here are the returns to 30th April 2022


YTD it has outperformed the benchmark and sector.  As it did over 1 year, 3 years and 5 years.

Markets continued to fall in May.   So, it's a few weeks out of date but the figures indicate a portfolio that generally performance in line with its benchmark.  That is to be expected as it is a portfolio that has over 90% in index tracking funds.
 
The estimated annualised volatility is 9.40%.  Realised 3 year volatility is 10.28%  realised since inception 8.22%.   


So, everything looks in line with expectations and performance has been in line with benchmark.  So, what exactly is this lawyer friend suggesting that Quilter Cheviot have done wrong?   And why do your friends seem to think that the loss they have incurred is Quilters fault?

As it stands, nothing you have said so far and the evidence available suggests no wrongdoing.   Probably just a complete misunderstanding of what they chose to buy.   And without an adviser involved, the provider is not responsible for suitability checks.

It is worth noting that this portfolio is capable of losses of more than double what the current position is (currently its is 75% equity)

The expectation for a portfolio of this risk profile is that you would be down around 10-15% from the peak point of 2021.

????

My friends have never been associated with IDX Balanced.

Best take your rod elsewhere hun x 

bostonerimus

Are your friends maybe getting notification of falls in individual funds that make up their portfolio? You might see large drops in the value of individual funds that have a far smaller influence on the overall portfolio performance.

Notepad_Phil

Fatinvestor said:

dunstonh said:

I understand that their portfolios are benchmarked again something called the PIMFA Pivate Investor Balanced Index. Whilst that index has dropped by around 5-6% this year my friends' high value portfolios have dropped by more than 10% this year, and did not do well against the PIMFA benchmark in the last quarter of 2021

Back on this point....

I have looked at that Quilter Cheviot MPS and the only one benchmarked against that is the IDX Balanced

here is the factsheet for that:  https://www.quiltercheviot.com/siteassets/documents/factsheets/qc-mps-idx-balanced.pdf

Here are the returns to 30th April 2022


YTD it has outperformed the benchmark and sector.  As it did over 1 year, 3 years and 5 years.

Markets continued to fall in May.   So, it's a few weeks out of date but the figures indicate a portfolio that generally performance in line with its benchmark.  That is to be expected as it is a portfolio that has over 90% in index tracking funds.
 
The estimated annualised volatility is 9.40%.  Realised 3 year volatility is 10.28%  realised since inception 8.22%.   


So, everything looks in line with expectations and performance has been in line with benchmark.  So, what exactly is this lawyer friend suggesting that Quilter Cheviot have done wrong?   And why do your friends seem to think that the loss they have incurred is Quilters fault?

As it stands, nothing you have said so far and the evidence available suggests no wrongdoing.   Probably just a complete misunderstanding of what they chose to buy.   And without an adviser involved, the provider is not responsible for suitability checks.

It is worth noting that this portfolio is capable of losses of more than double what the current position is (currently its is 75% equity)

The expectation for a portfolio of this risk profile is that you would be down around 10-15% from the peak point of 2021.

????

My friends have never been associated with IDX Balanced.

Best take your rod elsewhere hun x 

Hmmm, very nice reply to someone who with minimal information from you is trying to give some context on your post.

So why not let us know what they're invested in - you seemingly know enough to know what it's benchmarked against so presumably you know what investment it is or can find out if you don't (though surely you do know as you say it's not the fund dustonh thought it was).

DoublePolaroid

Pretty clear OP came here in search of some confirmation bias. 

The internet, in a nutshell. 

dunstonh

Fatinvestor said:

dunstonh said:

I understand that their portfolios are benchmarked again something called the PIMFA Pivate Investor Balanced Index. Whilst that index has dropped by around 5-6% this year my friends' high value portfolios have dropped by more than 10% this year, and did not do well against the PIMFA benchmark in the last quarter of 2021

Back on this point....

I have looked at that Quilter Cheviot MPS and the only one benchmarked against that is the IDX Balanced

here is the factsheet for that:  https://www.quiltercheviot.com/siteassets/documents/factsheets/qc-mps-idx-balanced.pdf

Here are the returns to 30th April 2022


YTD it has outperformed the benchmark and sector.  As it did over 1 year, 3 years and 5 years.

Markets continued to fall in May.   So, it's a few weeks out of date but the figures indicate a portfolio that generally performance in line with its benchmark.  That is to be expected as it is a portfolio that has over 90% in index tracking funds.
 
The estimated annualised volatility is 9.40%.  Realised 3 year volatility is 10.28%  realised since inception 8.22%.   


So, everything looks in line with expectations and performance has been in line with benchmark.  So, what exactly is this lawyer friend suggesting that Quilter Cheviot have done wrong?   And why do your friends seem to think that the loss they have incurred is Quilters fault?

As it stands, nothing you have said so far and the evidence available suggests no wrongdoing.   Probably just a complete misunderstanding of what they chose to buy.   And without an adviser involved, the provider is not responsible for suitability checks.

It is worth noting that this portfolio is capable of losses of more than double what the current position is (currently its is 75% equity)

The expectation for a portfolio of this risk profile is that you would be down around 10-15% from the peak point of 2021.

????

My friends have never been associated with IDX Balanced.

Best take your rod elsewhere hun x 

So, what one are they in then?

If it is their MPS version then again, that is in line with benchmark too and the same applies.



Or are these so-called friends imaginary and it is you?

Because_I_Can

I was previously with Quilter and had an FA/DFM arrangement (see my previous posts). 

I imagine the OP doesn’t have an MPS investment arrangement but a bespoke portfolio put together by their Quilter Investment Manager based on their risk profile and financial objectives. 

My portfolio was also benchmarked against the MSCI PIMFA Private Investor Balanced Index as that was the closest index to compare my portfolio against although I understood that it wasn’t quite like for like as I had a bespoke portfolio.

This year, I decided to drop the DFM element and move away from Quilter, primarily because of the higher fees I was paying but also because I wanted to simplify my portfolio. 

Performance was also a factor as they came in slightly under the benchmark but I’d certainly not be seeking any form of legal recompense as a result - that’s just ridiculous.

I see the OP has also raised the same question via the Citywire Investing forum. Can’t quite work out if this is all just a wind up but I’m also intrigued to see what legal basis any claim would be made under!!

We’ll see……….

dunstonh

I was previously with Quilter and had an FA/DFM arrangement (see my previous posts). 
I imagine the OP doesn’t have an MPS investment arrangement but a bespoke portfolio put together by their Quilter Investment Manager based on their risk profile and financial objectives. 

Was yours Quilter or Quilter Cheviot?