Interactive Investor Advice/Managed Portfolios

dunstonh

Albermarle said:

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.

The FCA is also currently consulting on getting rid of the "at least annually" requirement for ongoing advice.

A lot of smaller investors with needs that didnt change often used to get reviews every 2 or 3 years (or when needed within that frequency).   When the EU directive brought in "at least annually" most advice firms ended servicing with those smaller investors making the advice gap even bigger than what RDR did.

Aminatidi

I couldn't find much info on these beyond the factsheets so maybe someone googling these will stumble on this thread and it will help them answer some of my questions.

I opened one of these a couple of days back as a SIPP and deposited an initial amount.

Couple of days later if I login the portal I see a managed SIPP and more importantly, for me, a nice pie chart and per fund breakdown of the exact allocation and value of every single fund in the portfolio rather than a single "managed SIPP" line item.

Doesn't seem to give per fund gain/loss in percentage terms and it doesn't look like you can use the II X-Ray feature that you can on self-managed portfolio types.

Other than the account fee there doesn't appear to be a charge for investing like there is buying a fund.

I'll confirm that when I add more money but so far this looks like a way to get a very low cost managed SIPP.

I don't quite want to say MPS/DFM as it isn't but it's less "black box" than I expected - actually seems very transparent.

First impressions are good.

dunstonh

Other than the account fee there doesn't appear to be a charge for investing like there is buying a fund.

there are charges. They appear to be between 0.16% and 0.36% depending on which managed portfolio.

These are in addition to the platform charges.

Doesn't seem to give per fund gain/loss in percentage terms and it doesn't look like you can use the II X-Ray feature that you can on self-managed portfolio types.

These are now. There is no track record or history. So, beyond what the platform shows on your own balance history and returns data, there won't be anything.

I don't quite want to say MPS/DFM as it isn't but it's less "black box" than I expected - actually seems very transparent.

It is a DFM MPS, effectively, but with less data available currently.

Aminatidi

Thank Dunston and I meant in so much as II charge a per trade fee for purchasing funds/etfs/shares over and above anything included with your flat service fee.

So there isn't a £3.99 trade charge (so far) for the money added for example.

Balanced is ongoing charges (0.14%) and transaction costs (0.06%) according to their factsheet.

https://media-prod.ii.co.uk/s3fs-public/pdfs/managed-portfolio-factsheets_part3.pdf

I'm sure you can shave a few bps off but it felt competitive enough all-in + simple.

Aminatidi

Well six weeks or so in and I still don't seem to see any other threads or much info on these here or anywhere else so a little more feedback if anyone is looking like I was.

So far totally hassle free.

Add money via debit card or open banking and it shows as cash. Any cash is automatically invested a day or so later. You can't put cash in and leave it as cash - anything in the managed SIPP is invested.

I've just seen the first tax relief land soo so around six weeks after the contribution.

I can also confirm there are no "per trade" fees like there are on II with fund or ETF or share purchases.

Seems to do what it says on the tin and so much so I'll be using their managed ISA for the rest of this years allowance 👍🏼

cmundo

Yes I've set up managed ISA with ii for next year's contribution with monthly DD. Like you, seems hassle free and low cost and should stop me tinkering!