Towry Law

Silversavers

Hello. Can anyone give a view as to what level of charge would be made if we moved our holdings from one fund platform to another. Is there any form of standard admin charge or is it usual to do it on a % basis of the value of the holdings?

Regards

Amberwell15

Or any adviser come to that.

Visit the FSA's website (www fsa.gov.uk) and click on FSA Register. Then click on the 'Access FSA Register' link on the right of the screen.

(You need to put a . between www and fsa, I'm a new user so it won't allow me to enter links into my message).

There is a search facility that allows you to find any adviser that has been 'authorised' by the FSA (since 2001).

You can click 'History' and find out where any adviser has been and what they have been doing since 2001.

You should look for CF30 - Customer. This effectively means that the person named is authorised to give advice. Previously this was CF21 - Investment Adviser.

An adviser can run but he can't hide!

TangoTap

Presumably it takes time for the FSA register to be updated? Our ex-EJ adviser is now up and running with another company (after a period of purdah) but this is very recent and the new position does not yet appear on the FSA register. So worth persisting if you can't trace him/her first go.

dunstonh

Presumably it takes time for the FSA register to be updated?

Its updated daily. There is no lag.

Our ex-EJ adviser is now up and running with another company (after a period of purdah) but this is very recent and the new position does not yet appear on the FSA register.

Has he gone mortgage only? Mortgage advisers dont appear on there. Or it could be that he is not authorised himself yet but has a new company where someone else there may be signing off on things whilst he gets re-authorised.

Silversavers

Having heard today about the charges that Towry Law intend to charge us just to exit and move to another provider we've started a new thread at:

Is Towry Law imposing unfair charges on Edwards Jones customers?
Regards

cardsharps

Why don't you all ditch the fund managers completely? These guessers are charging you way over the odds for their 'expertise.' Make your own guesses, you've as much chance of being right as they have. And you'll save a packet in the process.

anom_3

I am an ex Edward Jones adviser. I am somewhat disappointed that Towry Law feel it appropriate to charge clients to move their portfolio to their in-house fund (although I have heard the fee will be waived if you argue). Also, there should be no charge from their side to move your investments out of Towry Law, although there may be chages from the new adviser. TL will also try and charge you an Isa closure fee if you transfer your Isa elsewhere. I agree with a previous post that your contract with EJ has been changed and you should NOT be disadvantaged. For this reason I suggest you fight any transfer charges, Isa closure fees and sales commissions for equities and bonds for which you no longer get advice. I do feel ex Edward Jones clients are being treated a little shabbily.

terrytravel

As part of my process to look for an alternative adviser I have recently had a meeting with Rathbone Brothers - Most impressed !
The investment manager took 2 hours to thoroughly explain the companies background, the process of assessing our risk tolerance, how a bespoke portfolio would be set up for us, the in house compliance checks etc.,
The manager was also qualified to Chartered status. Very impressive session to a couple who are only looking at investing £200K.
The only charges are 1% per annum, with no transfer-in charges.
To date Rathbone Brothers are our favoured organisation.

Interested to hear of any other experiences.

Silversavers

Take a look at Raymond James Investment Services. We understand that a good number of exEdward Jones advisors are linking up with them. and they have a very similar feel to that of EJ.
Regards.

feesarefare

terrytravel wrote: »

As part of my process to look for an alternative adviser I have recently had a meeting with Rathbone Brothers - Most impressed !
The investment manager took 2 hours to thoroughly explain the companies background, the process of assessing our risk tolerance, how a bespoke portfolio would be set up for us, the in house compliance checks etc.,
The manager was also qualified to Chartered status. Very impressive session to a couple who are only looking at investing £200K.
The only charges are 1% per annum, with no transfer-in charges.
To date Rathbone Brothers are our favoured organisation.

Can you clarify exactly who you are dealing with - Rathbone Brothers are investment fund managers, whereas the financial advisers work for Rathbones Pension & Advisory Services ? Do you get free advice from the P & A arm if you invest with Rathbone Brothers?