Rules on transferring ISA's

MouldyOldDough

eskbanker said:

MouldyOldDough said:

eskbanker said:

MouldyOldDough said:

Albermarle said:

We have had the investment for 10 years and despite high interest rates, with charges, we are only "breaking even"

For such a bad result, you must have been very unlucky in your choice of fund!

I didn't chose the investments - the investment company did that 

If you're now looking at disinvesting in one go at the end of a ten year cycle, then that does bring a risk that you're doing so at an inopportune moment rather than via a more traditional derisking strategy - what are you actually invested in, with whom, and was the investment made with transactional or ongoing advice?

Ongoing advice 
Quilter cheviot fully managed portfolio

Was your adviser made aware at the outset of your desire to liquidate the portfolio, and, if so, has the investment risk been dialled down over time?  If that is the case, then performance in recent times would be expected to have been lower by design....

When I ask for the outlook I get told hang on in there..
But for how long??
10 years is a long enough time 

eskbanker

MouldyOldDough said:

eskbanker said:

MouldyOldDough said:

eskbanker said:

MouldyOldDough said:

Albermarle said:

We have had the investment for 10 years and despite high interest rates, with charges, we are only "breaking even"

For such a bad result, you must have been very unlucky in your choice of fund!

I didn't chose the investments - the investment company did that 

If you're now looking at disinvesting in one go at the end of a ten year cycle, then that does bring a risk that you're doing so at an inopportune moment rather than via a more traditional derisking strategy - what are you actually invested in, with whom, and was the investment made with transactional or ongoing advice?

Ongoing advice 
Quilter cheviot fully managed portfolio

Was your adviser made aware at the outset of your desire to liquidate the portfolio, and, if so, has the investment risk been dialled down over time?  If that is the case, then performance in recent times would be expected to have been lower by design....

When I ask for the outlook I get told hang on in there..
But for how long??
10 years is a long enough time 

OK, fair enough, I just wondered if you might have a case against an adviser for poor advice, but it sounds like you're choosing to go against that advice (or to move the goalposts about when to disinvest), which is always your prerogative but obviously entails taking the responsibility yourself.

MouldyOldDough

Here's the latest :

"That would be the wrong time to do so, interest rates are going to fall and investment valuations are going to improve, so cashing out at the bottom and buying cash at the top is counterintuitive and will not provide longer term growth."

eskbanker

MouldyOldDough said:

Here's the latest :

"That would be the wrong time to do so, interest rates are going to fall and investment valuations are going to improve, so cashing out at the bottom and buying cash at the top is counterintuitive and will not provide longer term growth."

It does beg the question of why pay an adviser if you're going to ignore their professional guidance?  It appears that your adviser believes the target is long term growth - if that's not what you're looking for then are they aware of this?

MouldyOldDough

eskbanker said:

MouldyOldDough said:

Here's the latest :

"That would be the wrong time to do so, interest rates are going to fall and investment valuations are going to improve, so cashing out at the bottom and buying cash at the top is counterintuitive and will not provide longer term growth."

It does beg the question of why pay an adviser if you're going to ignore their professional guidance?  It appears that your adviser believes the target is long term growth - if that's not what you're looking for then are they aware of this?

But how long is "long term" - he's been our FA for 13 years !

He has had around £40k from us in this time (charges)

dunstonh

But how long is "long term" - he's been our FA for 13 years !

You should be seeing profit over 13 years.   2022 saw people drop back to their 2019/2020 values.  Not their 2010 values.

The exception is if you were heavier in technology stocks and a cautious investor heavy in gilts. Gilts have suffered a 1 in 100 year event and the unit price on inc units have gone back to circa 1995 levels.

Plus, you are using an FA with an expensive DFM service.  So, that will be hammering your returns (around 2-3 times what an IFA using a portfolio of trackers would cost).

eskbanker

MouldyOldDough said:

eskbanker said:

MouldyOldDough said:

Here's the latest :

"That would be the wrong time to do so, interest rates are going to fall and investment valuations are going to improve, so cashing out at the bottom and buying cash at the top is counterintuitive and will not provide longer term growth."

It does beg the question of why pay an adviser if you're going to ignore their professional guidance?  It appears that your adviser believes the target is long term growth - if that's not what you're looking for then are they aware of this?

But how long is "long term" - he's been our FA for 13 years !

He has had around £40k from us in this time (charges)

You're asking the wrong person!  You need to be clear with your adviser when you anticipate needing the money (in terms of years, not value), and the investment plan you agree to should reflect that.

MouldyOldDough

dunstonh said:

But how long is "long term" - he's been our FA for 13 years !

You should be seeing profit over 13 years.   2022 saw people drop back to their 2019/2020 values.  Not their 2010 values.

The exception is if you were heavier in technology stocks and a cautious investor heavy in gilts. Gilts have suffered a 1 in 100 year event and the unit price on inc units have gone back to circa 1995 levels.

Plus, you are using an FA with an expensive DFM service.  So, that will be hammering your returns (around 2-3 times what an IFA using a portfolio of trackers would cost).

I am not saying that we haven't made any profit over the last 13 years (we are up about 75%) - just not recently - with interest rates high - I expected more

Its been pretty level for 2 years now (+/- 5%)

eskbanker

MouldyOldDough said:

I am not saying that we haven't made any profit over the last 13 years (we are up about 75%) - just not recently - with interest rates high - I expected more

Its been pretty level for 2 years now (+/- 5%)

Your adviser should be able to explain this misconception to you....

poppy10_2

You should change investment manager. These guys have been ripping you off to charge £40k in fees while delivering no investment returns for a decade. A simple global tracker like VWRL would have delivered you 10% annualised returns, for a fee of just 0.22% per year