Retired which broker?

datadezign

I have funds that i need to invest to provide my wife and I with a regular income as we do not have a pension. I have had a few meetings with a couple of financial advisors who use the same stockbroker agent. We wish to look at all alternatives including the financial advisors and the stockbrokers they use, rather than just the one offered so far. We have worked out what we need as a regular income drawdown without depleting the capital pot. The aim is also to hopefully let the capital grow. We have been in business all our lives, so fully understand risk. Our businesses over the years have never involved stocks and shares, so this Is a completely new area for us, and thus would appreciate any genuine advice and recommendations.

Thank you

J_B

datadezign said:

We have worked out what we need as a regular income drawdown without depleting the capital pot. The aim is also to hopefully let the capital grow.

Just curious as to why you need to "let the capital grow"?

dunstonh

 I have had a few meetings with a couple of financial advisors who use the same stockbroker agent. We wish to look at all alternatives including the financial advisors and the stockbrokers they use, rather than just the one offered so far.

You should avoid FAs and use IFAs if you need advice.   It is unusual for stockbrokers to be involved with mainstream investing.   So, what is special about your needs that you need a stockbroker?

Linton

datadezign said:

I have funds that i need to invest to provide my wife and I with a regular income as we do not have a pension. I have had a few meetings with a couple of financial advisors who use the same stockbroker agent. We wish to look at all alternatives including the financial advisors and the stockbrokers they use, rather than just the one offered so far. We have worked out what we need as a regular income drawdown without depleting the capital pot. The aim is also to hopefully let the capital grow. We have been in business all our lives, so fully understand risk. Our businesses over the years have never involved stocks and shares, so this Is a completely new area for us, and thus would appreciate any genuine advice and recommendations.

Thank you

When you say stockbroker do you mean "platform"?- ie the online account where your investments are held.  Are you proposing to invest in individual shares or in funds?  The latter is mainstream and the former more specialist.

datadezign

Apologies a newbie to the investment circles. I assume I am referring to platforms? I had previously used Fidelity although have found this is now only available to US citizens. I also refer to HL St James Place AJ Bell as the companies to use. At some point in time I may educate myself and invest without perhaps use of the fore-mentioned companies. But initially I need to use consider that we have some investments already in place, earning income on our available funds, and for them to be established before.

Daliah

An IFA will use whatever is most advantageous for your needs. You don't need to worry about choosing the platform, or the investments. It's the IFA's job to sort this out, based on your risk profile and your requirements.

If you want to compare your IFA's platform recommendation with an independent source, you could look at https://monevator.com/compare-uk-cheapest-online-brokers/

datadezign

Thank you very much Deliah will do.

LHW99

Daliah said:

An IFA will use whatever is most advantageous for your needs. You don't need to worry about choosing the platform, or the investments. It's the IFA's job to sort this out, based on your risk profile and your requirements.

If you want to compare your IFA's platform recommendation with an independent source, you could look at https://monevator.com/compare-uk-cheapest-online-brokers/

I don't think St James Place will be list at that link for a couple of reasons. One is that theie "advisors" are effectively salesmen, who only offer St. James Place funds, so not really online bokers (I believe), and the other lies in the title of the website.

datadezign

Sorry Daliah for your misspelt name  

datadezign

What are the opinions of St James Place?

Eyeful

There is a difference between an Independent Financial Adviser (IFA) and a  Financial Adviser (FA).. It is in your interest to cleanly understand the difference between them.  The following may be of to interest to you:- 
 https://www.which.co.uk/money/investing/financial-advice/how-to-find-a-financial-adviser-affjl6z26bl4