Should i stay or should i go

Scallypud

Hi everyone
I'm looking for advice if i should stick with Quilter or transfer to HL.
I have 320K in Quilter and 47K in HL.
My HL is doing far better than the run by Quilter. If i had all my pension in HL i would be 24K better off and that's for this year alone.
Quilter have invested my pension in stocks and shares and some bonds. My HL pension is invested in ready made portfolio's by HL.
I must point out that i have very little knowledge when its comes to investing but 24K makes me think. Also Quilter and FCA charge me 4K a year .
So what does everyone think should i stick as i am or transfer to HL

Albermarle

Quilter have invested my pension in stocks and shares and some bonds. My HL pension is invested in ready made portfolio's by HL.

The HL ready made portfolio, will also be largely made up of stocks and shares and some bonds.
Probably the HL one is doing better because it has a higher % of shares, which have been doing rather well recently. If the market drops then the HL one will presumably go down quicker, although without knowing the exact funds you are in it is difficult to be sure.

What probably is sure is that you are paying high fees in both cases ( > 1.5% ?) so maybe that needs looking at.

dunstonh

I'm looking for advice if i should stick with Quilter or transfer to HL.

If you are looking at the platform, then Quilter is cheaper than HL if you are using OEICs/UTs.  However, neither is amongst the cheapest.

My HL is doing far better than the run by Quilter. If i had all my pension in HL i would be 24K better off and that's for this year alone.

Which means nothing in isolation of other information.

Quilter have invested my pension in stocks and shares and some bonds. My HL pension is invested in ready made portfolio's by HL.

HL's ready made portfolios are expensive.  So, not normally an attractive option.

What is the relative risk between the two?   This is usually the most common differentiator.

i.e. compare low risk with high risk in a growth period, and the high risk will be best.  Compare it in a loss period, then low risk will be best.   Unless the two have the same risk, then performance comparisons are pointless.

You don't move platforms becuase a higher risk portfolio is doing better than a lower risk one (or vice versa).  Instead, you make sure your risk level is what it should be.

I must point out that i have very little knowledge when its comes to investing but 24K makes me think. Also Quilter and FCA charge me 4K a year .

The FCA do not make any charges to consumer investments.   The FCA do make charges to regulated financial firms but the level of charges is not disclosed to you as you do not directly pay them.

So what does everyone think should i stick as i am or transfer to HL

Insufficient information but I suspect you are not comparing comparable risk portfolios.   If your adviser is an IFA, then they have a whole of market choice and there are plenty of portfolios (and platforms) that are lower cost and have a history of outperformance of HL's own brand platforms.   And to be fair, some of Quilter's own brand portfolios have been doing very well.    If you have a Quilter FA and not an IFA, then the choice is more limited to Quilter's own brand options.

So, you need to come back to us with the risk level of both portfolios.  If you are not sure, then you could give us the amount held in the stockmarket with each portfolio.

Scallypud

Thanks for the responses so far.

My HL is invested in the following portfolio's 
HL-Muilti-Management UK
HL-UK Income FUND
Legal & General - International Index Trust
Vangaurd - Emerging Markets Stock Index

Scallypud

Quilter is invested in moderate funds

Roger175

The difference you refer to has very little to do with HL vrs Quilter and is generally down to the fact that the investments within the two providers are different. You can address that without doing any transfers should you decide.

Albermarle

Scallypud said:

Quilter is invested in moderate funds

If you mean moderate risk funds, then they will have performed worse recently than the HL ones which seem to be at a higher risk level overall. 
That is because stock markets have been doing rather well in recent times.
If that were to change then any drops would probably be larger with the HL portfolio ( based on what info you have supplied so far)