Retired which broker?

coyrls

datadezign said:

What are the opinions of St James Place?

They are FAs not IFAs and so are not independent and can only offer (sell) St James Place products.  They are expensive.  I think I have stuck to the facts, I also have opinions, that boil down to: avoid.

msallen

datadezign said:

What are the opinions of St James Place?

Nobody on here will be recommending them. They are famously very expensive for an average (at best) product. As already mentioned its important to understand the difference between an FA and an IFA.

dunstonh

. I also refer to HL St James Place AJ Bell as the companies to use.

SJP is are tied sales reps of SJP.  One of the most expensive distributions going. They do not operate a platform as they only sell their own product.   HL offer a restricted advice service and uses the HL platform and HL branded funds.  AJ Bell doesn't do an advice service I believe.

The key is getting the "i" bit.  IFA not FA.   Independent means they are whole of market and working for you.    They are not employed by an insurer or provider trying to flog their own product like FAs.

george4064

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/

Note that there are some investment platforms (e.g. Transact) that are only available to investors with advisors, of which some of those are not listed on Monevator.

MX5huggy

datadezign said:

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.

Don’t know why you think Fidelity are US only. https://www.fidelity.co.uk/

But as you are inclined to use an IFA I would be finding them first then using whatever platform they use.

datadezign

Thank you all for your advice, much appreciated.

Just to add a little more info:

1: I am a beginner in the investment arena.

2: I have the proceeds from a business asset sale which I need to invest to provide a regular income, to replace my previous income.

As I am a investor beginner (but not in business), believe that it would be wise to seek advice from an IFA, and not an FA (as suggested by others in previous replies), and to use one of the many platforms to setup an investment portfolio that could be recommend to me based on the funds I have and income I need. Once a regular income has been derived and established, and my investment education has progressed, may then invest direct using the various platforms. 

My further questions based on the above:

1: Any IFA Recommendations?

2: Any Platform recommendations?

3: Any recommendations on education books / seminars / courses?

4: If any of you are questioning why I need to use an IFA, what are your alternative suggestions?

Thank you.

dunstonh

My further questions based on the above:

1: Any IFA Recommendations?

2: Any Platform recommendations?

3: Any recommendations on education books / seminars / courses?

4: If any of you are questioning why I need to use an IFA, what are your alternative suggestions?

1 - Most IFAs are small localised firms with 1-5 advisers.  A bit like the old accountant/solicitor model.   There are very few large chains.    So, you would need to local at your local IFAs.
2 - Stop worrying about that.  The IFA will pick the platform based on your needs and the terms they have available. 
4 - It boils down to either using an IFA or going DIY.  The latter can be cheaper if you can get it right but far more expensive if you get it wrong (just like any form of DIY).      Eliminate wealth management companies and FAs.

Eyeful

For item 3, suggest you take a look at each of the following:-
https://www.kroijer.com/
https://occaminvesting.co.uk/start-here/
https://monevator.com/category/investing/
https://portfoliocharts.com/

datadezign

Thank you, and yes DIY at this early stage, with lack of market knowledge and whilst have the need for a regular established income soon, could be foolhardy, so good advice and appreciated.

it seems that the IFA is the way forward for me and for their suitable recommendations. Once a portfolio has been established over a year or two, bringing in a regular income, can then consider some DIY, perhaps? I am in the West Midlands, any know IFA’s recommendations?

Chickereeeee

Re: Platforms
Your IFA will use a platform (and on terms) which which will not be available to you, as a private investor.  IF, in the future, you decide to DIY, you will need to seek a a platform that caters for DIY, and move across. This is quite easy to do, so, as Dunstonh says, forget about it for now.