IFA and Pension fund management charges - transferring a DC workplace & private pension

DeadlyD

and @dunstonh given my particular scenario for £195k in a Multi Asset fund with no home bias and as a novice for a "package" with a preference for not necessarily low cost but of proven performance what would your bias be? 

MallyGirl

I suspect that @dunstonh won't want to respond. He is an IFA. Being paid for advice is what puts food on his table.

I started out with Vanguard Lifestrategy but as I read more the HSBC Global funds appealed to me more. This is not advice - just a personal choice.

Albermarle

DeadlyD said:

and @dunstonh given my particular scenario for £195k in a Multi Asset fund with no home bias and as a novice for a "package" with a preference for not necessarily low cost but of proven performance what would your bias be? 

The usual main alternative mentioned is the HSBC global strategy range ( available on all the platforms mentioned) Plus you have the Blackrock Consensus range ( although personally I would not be so keen on those) Blackrock MYmap range ( relatively new ) Fidelity Multi asset allocator range and some of the platforms mentioned offer their own in house ones.

DeadlyD

Thank you @MallyGirl
Understood. I have the desire to educate myself and spend energy on understanding what options are available to me. If I was working as I did, I wouldn’t have either the time or luxury to investigate that’s why I went with SJP with a couple of pension pots 3 years ago. I now know I have many different options and the forumites have been very patient whilst I grapple with the choice. Slowly I’ve come to realise I can use a SIPP now it’s what’s the right platform- they all sound great!! Re-reading WHICH but many do seem to promote Vanguard. 

Fidelity’s documentation is easy to understand and process looks easy enough to transfer 

dunstonh

MallyGirl said:

I suspect that @dunstonh won't want to respond. He is an IFA. Being paid for advice is what puts food on his table.

I started out with Vanguard Lifestrategy but as I read more the HSBC Global funds appealed to me more. This is not advice - just a personal choice.

The main issue is that I cannot give advice on the forum.   Those of us that are regulated have to be extra careful.   So, we can prod, push and discuss and throw in pointers to think about but we cannot say "you should do this".    

MallyGirl

DeadlyD said:

Thank you @MallyGirl
Understood. I have the desire to educate myself and spend energy on understanding what options are available to me. If I was working as I did, I wouldn’t have either the time or luxury to investigate that’s why I went with SJP with a couple of pension pots 3 years ago. I now know I have many different options and the forumites have been very patient whilst I grapple with the choice. Slowly I’ve come to realise I can use a SIPP now it’s what’s the right platform- they all sound great!! Re-reading WHICH but many do seem to promote Vanguard. 

Fidelity’s documentation is easy to understand and process looks easy enough to transfer 

Vanguard is straightforward if you are happy with only using Vanguard funds. I use Interactive Investor which offers a lot more choices (meaning I do have to make the choices) and has a charging structure which is appropriate for the size of my pot (plus I have a S&S ISA with them too).

DeadlyD

Understand @dunstonh and appreciate the prods n push’s 

Albermarle

DeadlyD said:

Thank you @MallyGirl
Understood. I have the desire to educate myself and spend energy on understanding what options are available to me. If I was working as I did, I wouldn’t have either the time or luxury to investigate that’s why I went with SJP with a couple of pension pots 3 years ago. I now know I have many different options and the forumites have been very patient whilst I grapple with the choice. Slowly I’ve come to realise I can use a SIPP now it’s what’s the right platform- they all sound great!! Re-reading WHICH but many do seem to promote Vanguard. 

Fidelity’s documentation is easy to understand and process looks easy enough to transfer 

HL have the most expensive platform fee for funds ( 0.45%) but they are offering a rather generous cashback for transferring a pension in to them.
After 12 months you can transfer it our somewhere else if you want ( maybe to someone else offering a cashback) 
Of course cashback should not be the priority in deciding what to do, but if you were planning to do it anyway....
Transfer your Pension | Hargreaves Lansdown (hl.co.uk)

DeadlyD

Albermarle said:

HL have the most expensive platform fee for funds ( 0.45%) but they are offering a rather generous cashback for transferring a pension in to them.After 12 months you can transfer it our somewhere else if you want ( maybe to someone else offering a cashback) Of course cashback should not be the priority in deciding what to do, but if you were planning to do it anyway....

Transfer your Pension | Hargreaves Lansdown (hl.co.uk)

I'm reading this and HL aren't listed. I rather thought given my lack of experience I should be going for a passive fund not active - the article rates the top 3 Vanguard, Fidelity & Arbd 

 https://monevator.com/passive-fund-of-funds-the-rivals/

Views on Fidelity ppl? I somehow feel safer with a fund of £195k as a 1st timer going with a well known name (for the lay person) its a passive fund and charges are .35% 

Albermarle

DeadlyD said:

Albermarle said:

HL have the most expensive platform fee for funds ( 0.45%) but they are offering a rather generous cashback for transferring a pension in to them.After 12 months you can transfer it our somewhere else if you want ( maybe to someone else offering a cashback) Of course cashback should not be the priority in deciding what to do, but if you were planning to do it anyway....

Transfer your Pension | Hargreaves Lansdown (hl.co.uk)

I'm reading this and HL aren't listed. I rather thought given my lack of experience I should be going for a passive fund not active - the article rates the top 3 Vanguard, Fidelity & Arbd 

 https://monevator.com/passive-fund-of-funds-the-rivals/

Views on Fidelity ppl? I somehow feel safer with a fund of £195k as a 1st timer going with a well known name (for the lay person) its a passive fund and charges are .35% 

I think not for the first time, you are confusing the investment platform with the investment funds.

HL is an investment platform. You can buy thousands of different investments to hold on the platform, including Passive Vanguard, Fidelity and the HSBC funds mentioned. As a kind of sideline HL also offer their own branded funds, mainly expensive active ones.
I was suggesting that a transfer to the HL platform could be an idea due to the generous cashback on offer. I was not suggesting buying their investment funds.

Fidelity is a very similar investment platform but with a little lower charge ( 0.35%). You can also buy thousands of different investments on the Fidelity Platform, including the same passive Vanguard, HSBC funds, + Fidelity have their own passive multi asset fund.