Woodford Funds latest?

dunstonh

Aged said:

Malthusian said:

In that particular case, the client had 85% of his pension in Woodford. The adviser didn't tell him to switch out because they lost contact. Oops!)

When exactly was it that advisers were advised to advise their clients to move out of Woodford? PS sorry for all the 'advises'!

FAs didnt tend to advise anyone to leave the fund as they are tied to the instructions from their employer/provider.    IFAs are by definition independent and each IFA makes their own decisions based on their own research.  That typically means buying in that data from outside sources as the typical IFA doesn't have the resources or clout to carry out that sort of research internally.   The company we use for due diligence issued a warning back in September 2017 (two years before it failed) saying that we shouldn't use Woodfords Income fund because the level of illiquid assets was too high for a UK equity income fund.       It is clear that not all IFAs got that warning from their own due diligence supplier.