Killik and Co

Notnuats

After being a client for many years I become disillusioned with the quality of service expected from high fees based on a % of the portfolio value. This concept is flawed. A "Wealth Report" was poorly prepared and appeared to be a template used for multiple clients.
The leaving process took far too long with confused responsibilities -  This was  frustrating.
I would not recommend KIllik as a FA 

dunstonh

A "Wealth Report" was poorly prepared and appeared to be a template used for multiple clients.

To be fair, templates are necessary for creation of reports.   You cannot employ a bank of secretaries to write bespoke reports on the same portfolio and client needs across the board.  it's normal for there to be a template in a chunk of areas, which is then personalised in the areas necessary.

Obviously, FAs can use templates more than an IFA can but even IFAs will have some templating (typically risk warnings and layout).

I would not recommend KIllik as a FA 

This is your first post on this site.  If you had been around longer, you know that the frequent message here is to either DIY or use an IFA.   Not to use an FA.

balooney2000

Ive been searching for topics regarding SIPP and Killik but my understanding is that Killik is an IFA as it provides whole of market advice or have I misunderstood this point?  Thank you 

dunstonh

Ive been searching for topics regarding SIPP and Killik but my understanding is that Killik is an IFA as it provides whole of market advice or have I misunderstood this point?  Thank you 

FAs put in place their own products/investments as solutions (or a restricted range of products/investments)
IFAs put in place the products available on the whole of market as solutions and cannot restrict.

Killik have their own products.   I cannot see anything on their website that indicates that they are IFAs.      

poseidon1

Killick & co are stockbrokers ( members of the London stock exchange ) and as such can do what FAs cannot, ie directly manage, advise, and execute stocks and shares purchases and sales. This in addition to usual services provided by an IFA and some others such as personal and trustee tax compliance, family trust administration/investment management, which I imagine would be outside the brief for the majority of IFAs let alone FAs.

The nearest equivalent business  I can  think of in terms of stockbroking and specialist wealth management services  would be  Rathbones ( owners of Investec bank), although Rathbones do also have a suite of their own in house unit trusts ( oeics), which I don't believe is the case for Killick. 

Rathbones tend to pitch for  business in HNWI sector, whilst Killicks a little lower at the mass affluent.