Tilneys, brewin dolphin etc - investment

johnadams7

Hi,

I am looking for recommendations about these two firms or others. I have all my affairs in order, and have money to invest. I have looked long and hard and cannot find an IFA I trust. 

Therefore i'm looking at the big boys - quite frankly if they are a bit more expensive I don't care - if it is for peace of mind. 

Can anyone share experiences with the above, or can anyone recommend a similar company. St James place is definitely off the cards.

Thanks

dunstonh

I am looking for recommendations about these two firms or others. I have all my affairs in order, and have money to invest. I have looked long and hard and cannot find an IFA I trust. 

What is your criteria that would make you trust an IFA?
Why are you referring to IFAs when the firms you have mentioned are DFMs?

What exactly are you after as DFMs and IFAs are different things.

johnadams7

dunstonh said:

I am looking for recommendations about these two firms or others. I have all my affairs in order, and have money to invest. I have looked long and hard and cannot find an IFA I trust. 

What is your criteria that would make you trust an IFA?
Why are you referring to IFAs when the firms you have mentioned are DFMs?

What exactly are you after as DFMs and IFAs are different things.

An IFA, that is recommended to me - someone i feel trustworthy, rather than throwing numbers around. A St James guy - came with what the opened the account with in X year and its current value now. I.e not looking for a salesman. 

I feel a company offers more protection as multiple people will be involved - for example if i choose a balanced portfolio, they will have researched it, and my understanding the portfolio is ready made. 

If I went to an IFA, he or she would choose the funds which are in a balanced portfolio. 

For example https://professionals.tilney.co.uk/media/1390/tap-tilney-balanced.pdf

I've just seen charles stanley offers something similar. To answer your question, I want to invest my money somewhere sound. I don't mind paying a bit extra for personal advice. But i'm not paying 5% upfront for St James Place then their yearly amount. 

jimjames

johnadams7 said:

dunstonh said:

I am looking for recommendations about these two firms or others. I have all my affairs in order, and have money to invest. I have looked long and hard and cannot find an IFA I trust. 

What is your criteria that would make you trust an IFA?
Why are you referring to IFAs when the firms you have mentioned are DFMs?

What exactly are you after as DFMs and IFAs are different things.

An IFA, that is recommended to me - someone i feel trustworthy, rather than throwing numbers around. A St James guy - came with what the opened the account with in X year and its current value now. I.e not looking for a salesman.

Not sure a recommendation from a random stranger on the internet would be something you can put a lot of store in. It might be entirely genuine but then it might not. SJP are definitely salesmen so you made the right choice there.
What about HL? They're one of the biggest and have their own IFA team.

dunstonh

. A St James guy - came with what the opened the account with in X year and its current value now. I.e not looking for a salesman. 

SJP are not IFAs. They are FAs and are sales reps of their company.

An IFA, that is recommended to me - someone i feel trustworthy, rather than throwing numbers around

Inevitably,  numbers are going to come into it.

I feel a company offers more protection as multiple people will be involved - for example if i choose a balanced portfolio, they will have researched it, and my understanding the portfolio is ready made. 

it doesn't.   Advice gives you an extra layer of consumer protection. Whereas going direct to a DFM cuts out the adviser and you get no advice protection.

All firms have to carry out due diligence on their portfolio recommendations.  There are no small firm exemptions.  Indeed, regulation is rather daft on that front as small IFA firms have to do the same regulatory tasks as those with 1000 advisers.

To answer your question, I want to invest my money somewhere sound. I don't mind paying a bit extra for personal advice

in which case, you should use an IFA and not a DFM.

What about HL? They're one of the biggest and have their own IFA team.

Not any more.  They went restricted and use their own brand stuff now.

Eyeful

There is a difference between an Independent Financial Adviser (IFA) and a Financial Adviser (FA) which you do not appear to understand. Maybe reading the following may be of some help:
 https://www.which.co.uk/money/investing/financial-advice/how-to-find-a-financial-adviser-affjl6z26bl4
https://www.citizensadvice.org.uk/debt-and-money/getting-financial-advice/#h-how-to-find-a-financial-adviser

I do not know what you want financial advice on, or how much money you have to invest. It could be that you may not have enough money, for the adviser to want to take you on as a client.

The following may be of interest of interest to you. 
https://www.kroijer.com/

Albermarle

If I went to an IFA, he or she would choose the funds which are in a balanced portfolio.

This is a misconception that the only job of an IFA is to pick funds for you, using just their own expertise/experience ( or lack of it).

The IFA is there to make an analysis of you and your finances. What your objectives are, when do you want to retire, what is your risk appetite, family involvement etc etc Plus of course figures on all you current investments, pensions, debts, savings etc.

Then they will recommend a course of action that is designed to meet these goals, also in a tax advantageous way. The picking of the actual investments is the easy/straightforward bit and they have access to lots of research/recommendations etc . and the same sort of info and access to investments that any expensive wealth manager would have .

If you do not want any of the above, then you can easily buy a low cost balanced fund off the shelf yourself, and save yourself the money.

wjr4

What exactly are you looking for? As mentioned above, IFAs do not concentrate on investment management.

johnadams7

Eyeful said:

There is a difference between an Independent Financial Adviser (IFA) and a Financial Adviser (FA) which you do not appear to understand. Maybe reading the following may be of some help:
 https://www.which.co.uk/money/investing/financial-advice/how-to-find-a-financial-adviser-affjl6z26bl4
https://www.citizensadvice.org.uk/debt-and-money/getting-financial-advice/#h-how-to-find-a-financial-adviser

I do not know what you want financial advice on, or how much money you have to invest. It could be that you may not have enough money, for the adviser to want to take you on as a client.

The following may be of interest of interest to you. 
https://www.kroijer.com/

Thanks, I'm well aware of the differences - well if they don't want a mid 6 digit sum that is their loss. 

johnadams7

Albermarle said:

If I went to an IFA, he or she would choose the funds which are in a balanced portfolio.

This is a misconception that the only job of an IFA is to pick funds for you, using just their own expertise/experience ( or lack of it).

The IFA is there to make an analysis of you and your finances. What your objectives are, when do you want to retire, what is your risk appetite, family involvement etc etc Plus of course figures on all you current investments, pensions, debts, savings etc.

Then they will recommend a course of action that is designed to meet these goals, also in a tax advantageous way. The picking of the actual investments is the easy/straightforward bit and they have access to lots of research/recommendations etc . and the same sort of info and access to investments that any expensive wealth manager would have .

If you do not want any of the above, then you can easily buy a low cost balanced fund off the shelf yourself, and save yourself the money.

Albermarle said:

If I went to an IFA, he or she would choose the funds which are in a balanced portfolio.

This is a misconception that the only job of an IFA is to pick funds for you, using just their own expertise/experience ( or lack of it).

The IFA is there to make an analysis of you and your finances. What your objectives are, when do you want to retire, what is your risk appetite, family involvement etc etc Plus of course figures on all you current investments, pensions, debts, savings etc.

Then they will recommend a course of action that is designed to meet these goals, also in a tax advantageous way. The picking of the actual investments is the easy/straightforward bit and they have access to lots of research/recommendations etc . and the same sort of info and access to investments that any expensive wealth manager would have .

If you do not want any of the above, then you can easily buy a low cost balanced fund off the shelf yourself, and save yourself the money.

Albermarle said:

If I went to an IFA, he or she would choose the funds which are in a balanced portfolio.

This is a misconception that the only job of an IFA is to pick funds for you, using just their own expertise/experience ( or lack of it).

The IFA is there to make an analysis of you and your finances. What your objectives are, when do you want to retire, what is your risk appetite, family involvement etc etc Plus of course figures on all you current investments, pensions, debts, savings etc.

Then they will recommend a course of action that is designed to meet these goals, also in a tax advantageous way. The picking of the actual investments is the easy/straightforward bit and they have access to lots of research/recommendations etc . and the same sort of info and access to investments that any expensive wealth manager would have .

If you do not want any of the above, then you can easily buy a low cost balanced fund off the shelf yourself, and save yourself the money.

Albermarle said:

If I went to an IFA, he or she would choose the funds which are in a balanced portfolio.

This is a misconception that the only job of an IFA is to pick funds for you, using just their own expertise/experience ( or lack of it).

The IFA is there to make an analysis of you and your finances. What your objectives are, when do you want to retire, what is your risk appetite, family involvement etc etc Plus of course figures on all you current investments, pensions, debts, savings etc.

Then they will recommend a course of action that is designed to meet these goals, also in a tax advantageous way. The picking of the actual investments is the easy/straightforward bit and they have access to lots of research/recommendations etc . and the same sort of info and access to investments that any expensive wealth manager would have .

If you do not want any of the above, then you can easily buy a low cost balanced fund off the shelf yourself, and save yourself the money.

Albermarle said:

If I went to an IFA, he or she would choose the funds which are in a balanced portfolio.

This is a misconception that the only job of an IFA is to pick funds for you, using just their own expertise/experience ( or lack of it).

The IFA is there to make an analysis of you and your finances. What your objectives are, when do you want to retire, what is your risk appetite, family involvement etc etc Plus of course figures on all you current investments, pensions, debts, savings etc.

Then they will recommend a course of action that is designed to meet these goals, also in a tax advantageous way. The picking of the actual investments is the easy/straightforward bit and they have access to lots of research/recommendations etc . and the same sort of info and access to investments that any expensive wealth manager would have .

If you do not want any of the above, then you can easily buy a low cost balanced fund off the shelf yourself, and save yourself the money.

I already have the vanguard lifestrategy 80%, and HSBC product (forgot the name, albeit the lower equity one). What are some of the other main players?