Portfolio Management Service?

hedger

What are your opinions on using a Portfolio Management Service like Hargreaves Landsdown to run your investments? The fees look quite high but I think it might be beneficial for a relative novice like me. I am invested through SJP (for the last 2 years with average results) but tbh I think they just take the fees and their funds are limited (especially in todays climate). Could a management service make my money work better?

dunstonh

SJP are not independent and not cheap. That is probably your first and main problem.

You really have a choice of a servicing IFA or a discretionary fund manager. The costs are usually less with an IFA but IFAs can only use packaged products but discretionary fund managers can use any vehicle really.

There are merits on both sides but the key thing is the individual involved. Get a good IFA or a good DFM and you are fine with either.

hedger

dunstonh wrote: »

SJP are not independent and not cheap. That is probably your first and main problem.

You really have a choice of a servicing IFA or a discretionary fund manager. The costs are usually less with an IFA but IFAs can only use packaged products but discretionary fund managers can use any vehicle really.

There are merits on both sides but the key thing is the individual involved. Get a good IFA or a good DFM and you are fine with either.

so have you any thoughts on Hargreaves Landsdown?
Anyone have experience of using them/or any +/- results?

Lokolo

Its the highest suggestd site on here.... I am planning to use it when I start investing (within a month) as they are cheap.

Haven't heard of any problems with them though.

hedger

so heres a question. Should I pull my total investments (substantial amount) out of SJP and go with Hargreaves?

purch

my total investments (substantial amount)

It would need to be a large amount to make a discretionary Portfolio Management service worthwhile.

I doubt anyone who uses this site would have experience of using HL for this service.

There are lots of Firms who can provide you with this service if this is the way you want to go, and a great deal of research into the firms, their methods and costs is vital. HL are mentioned a lot on this site, but virtually always that is in relation to their low cost Fund Supermarket, Vantage and SIPP services, not Discretionary Fund Management.

A full service IFA who is well qualified and experienced in Investment advice would no doubt be a cheaper option.

debbie42

hedger wrote: »

Should I pull my total investments (substantial amount) out of SJP and go with Hargreaves?

Why the rush: couldn't you look into the other IFA/DFM options as suggested?

hedger

The costs are not really important to me - more the performance. I dont mind paying for top notch advice and results. A good IFA is really difficult to choose imo (as they all sound so convincing!) whereas Hargreaves appears to be a high quality outfit. I obviously wont jump into anything but I think the amount of investment I have should be working a bit better for me than it is. Anyone any other recommendations on DFM options?

jem16

hedger wrote: »

A good IFA is really difficult to choose imo (as they all sound so convincing!) whereas Hargreaves appears to be a high quality outfit.

H&L are simply IFAs with a website who specialise in discounting funds for those going DIY. In that sense they are very popular here. For their full IFA service they are very expensive and there is no guarantee that they are any better than any other IFA.

Take your time and contact a few IFAs, including H&L, and see what they have to say.

dunstonh

so have you any thoughts on Hargreaves Landsdown?

Very expensive when using their advice service. Their best offerings are execution only through their fund supermarket.

purch

Killick & Co (heard good things about them)

Barclays Wealth

My brother in law uses Allied Irish Bank (Private Banking) and has nothing but good to say about their service

There are many many options

Private Banking.......Stockbrokers

It'll be a long list

HL would probably feature near the lower end