Query about financial advisers and set up fees and Aviva products

Albermarle

The charges look OK . As said before, normally an advisor charge of 0.5% is on the low side for funds < £200K .

Do I need to know about the companies he is proposing to invest in my Aviva ISA? Does anyone have any information on them?

They are all major global investment companies, so nothing to worry about on that score.

My comment would be that considering you do want to access the funds for at least 13 years, and you have the back up of a DB works pension, the mix of funds looks a bit too cautious( in fact they are all cautious ) even for a risk 4 out of 7. 

Tabby026

I do understand what you mean, but I want this part of our money to be safer, as my husband has a Prudential ISA of 42000 and is setting up a higher risk ISA with Aviva for 30,000 making regular contributions into it of £200 a month, I just don’t want to put all our eggs in one basket from a risk point of view. I’m not used to dealing with stocks and shares so feel happier doing it this way. Does that make sense?

longleggedhair

You do realise you could quite easily set up an ISA/General investment account with Aviva yourself and select a cautious fund to invest in. It’s really very simple & will save you thousands of pounds over the years, the fact you have an ongoing charge means that every month money will be flowing out of your account and into the advisors back pocket.

Albermarle

longleggedhair said:

You do realise you could quite easily set up an ISA/General investment account with Aviva yourself and select a cautious fund to invest in. It’s really very simple & will save you thousands of pounds over the years, the fact you have an ongoing charge means that every month money will be flowing out of your account and into the advisors back pocket.

On the other hand the advisors charges in this case are not excessive, and nothing to stop the OP  dispensing with their services after a year or two. She is obviously learning fast !