Interactive Investor Advice/Managed Portfolios

Aminatidi

Noticed this which is new from ii.

https://www.ii.co.uk/ii-accounts/ii-advice

Not quite sure how much of a full "advisor" offering it is v a bit of a "what Vanguard tried to do" but looked like it might be a reasonably priced option if anyone is looking for that sort of offering.

Seems limited to MyFolio Index funds though as it looks like an Aberdeen product underneath.

Appreciate this forum is mostly DIY investors but has anyone looked into it?

Alexland

£100 per month to be sold an Aberdeen multi asset fund? I'll give it a miss thanks.

This is part of the cross-sell opportunity Aberdeen wanted from purchasing II

poseidon1

It's evident that they  offer neither tax or legal advice, so IHT planning opportunities, products and services seem to be off the menu. 

This is a little surprising given Aberdeen's deep well of technical expertise in this area, and begs the question what exactly is the nature of the 'value' proposition one is getting for  ii's £100 per month fee?

Interesting to note ( not that I would use it ) that HL do purport to offer IHT planning on an advised basis albeit on the traditional percentage of assets fee model - see below

https://www.hl.co.uk/financial-advice/financial-planning/inheritance-tax-planning

Albermarle

poseidon1 said:

It's evident that they  offer neither tax or legal advice, so IHT planning opportunities, products and services seem to be off the menu. 

This is a little surprising given Aberdeen's deep well of technical expertise in this area, and begs the question what exactly is the nature of the 'value' proposition one is getting for  ii's £100 per month fee?

Interesting to note ( not that I would use it ) that HL do purport to offer IHT planning on an advised basis albeit on the traditional percentage of assets fee model - see below

https://www.hl.co.uk/financial-advice/financial-planning/inheritance-tax-planning

Fidelity also offer a full advice service, although the investment/pensions part is restricted to their products.
1% initial fee and 0.5% ongoing, with some minimum amounts.
Financial Advice | Investment Advice provided by Fidelity's Advisers

Vanguard offer a managed ISA and SIPP, for a cost of 0.2% and 0.3% respectively.
As with II there is no service offered other than constructing a portfolio based on your age and risk profile - just like the robo advisors.
I think for a while they offered something more than just this basic service, but stopped it.

Alexland

poseidon1 said:

It's evident that they  offer neither tax or legal advice, so IHT planning opportunities, products and services seem to be off the menu. 

This is a little surprising given Aberdeen's deep well of technical expertise in this area, and begs the question what exactly is the nature of the 'value' proposition one is getting for  ii's £100 per month fee?

Aberdeen probably don't want to offer too much value via II for fear of offending the advisor and DFM community that recommend or allocate using their funds. If they start seeing Aberdeen as competition then they might stop using them.

Eyeful

1. I had a quick brief look. They are clear on:
(a) on what they cannot provide, which is tax or legal advice.
(b) Starting costs & Ongoing advice fees.

2. Beyond that it is far from clear what advice you will be getting for your money.

3. The impression I am left with, is it just an lead generation advert, for a member of their sales team, to talk you in to buying a financial product  from them.

4. For myself I will just ignore it.

GeoffTF

Albermarle said:

Fidelity also offer a full advice service, although the investment/pensions part is restricted to their products.
1% initial fee and 0.5% ongoing, with some minimum amounts.
Financial Advice | Investment Advice provided by Fidelity's Advisers

Vanguard offer a managed ISA and SIPP, for a cost of 0.2% and 0.3% respectively.
As with II there is no service offered other than constructing a portfolio based on your age and risk profile - just like the robo advisors.
I think for a while they offered something more than just this basic service, but stopped it.

Vanguard's now discontinued advice service was hedged with many restrictions. They excluded just about everything that would justify taking advice. I have the impression that Fidelity's advice service is less restricted than Vanguard's discontinued service. Whether it will be a good option for many people is another matter.

LHW99

Are they all trying to start getting ready for "targeted guidance" I wonder?

Aminatidi

Eyeful said:

1. I had a quick brief look. They are clear on:
(a) on what they cannot provide, which is tax or legal advice.
(b) Starting costs & Ongoing advice fees.

2. Beyond that it is far from clear what advice you will be getting for your money.

3. The impression I am left with, is it just an lead generation advert, for a member of their sales team, to talk you in to buying a financial product  from them.

4. For myself I will just ignore it.

Exactly why I posted 👍🏼

Albermarle

LHW99 said:

Are they all trying to start getting ready for "targeted guidance" I wonder?

Probably, and in any case there is a gap in the market for basic advice to people with smaller funds.
Not really useful for the inhabitants of these forums, but could give some reassurance to inexperienced investors.

Aminatidi

I think I'm at the point where I would benefit from putting new money into a SIPP rather than my ISA so I'm looking at SIPP offerings both product and platform.

The "advice" offering does look limited but II look very tempting here.

https://www.ii.co.uk/ii-...ounts/sipp/managed-sipp

Looks like for £5.99 or £14.99 (as it grows/transfer in from an old workplace pension) I get a full SIPP and if I did want to transfer anything else across there's an ISA/GIA as part of the fixed fee.

https://media-prod.ii.co...iUyImp1F.1fYaerXqzWa0rx

Around 0.19% for the "managed" portfolio which is a rounding error.

I can't see a lower cost way of getting that sort of thing 👀