SIPP/Financial Advisor

dunstonh

This refers to one particular individual who had had some of the the worst luck in financial services I have ever seen ( zombie endowments, Equitable Life, you name it) and who had been treated like a gullible idiot by various advisors over the years.

He also had Scottish Equitable Mixed fund at 1% which was a balanced managed fund and all his "research" told him that paying 1.5% on HL's balanced managed fund was the better option despite it under performing the Scot Eq mixed fund.

We have seen plenty of others say they have looked to use HL's multi-manager funds as well although none that I can recall have ever come back and said what they did finally.

Most advisors haven't even been to university, after all.

Nor have most consumers and going to university does not make you an expert on a subject you are not studying.

It's wrong to quote this fairly unusual case as being representative of people looking for help on MSE.

The majority do not have the skills, knowledge or willingness to spend time to learn or actively review it. Those that do have all these great options available now but the potential to balls it up big time increases and you just have to look at some of the portfolio examples that have been posted over the last few years to spot obvious high risk fashion investing.

jem16

Retired_I.F.A. wrote: »

Thank god for that. Uni Graduates are the thickest of the thick bar teachers as they neverc leave the classroom and find out what life is like in the real world.

. Many university graduates are taken on in the life insurance industry with their degees in biology, physics, engineering, art, and physocobable. Everyone of them is a thick as two short planks and have no idea of the real world. Insurance companies like them like that though as all the qualification means is they have some apptitude to learn and knowing nothing about finance other than the price of a pint in the uni bar they never question what they are taught.

The best IFA's have a grade 1 CSE maths like me. (5th year) and 1 0 level in English Lit (lower 6th) too busy earning money part time to study but I did manage to watch the films Wuthering heights and Romeo and Juliet.

Excuse me - after a comment like that I think that's the last time I stick up for you lot.

If it wasn't for us "thick" teachers you wouldn't even have this as a qualification - presumably you missed out on the grammar and spelling O Level?

Each to their own profession - it doesn't make us any better or any worse than someone else. I don't judge you so I'd appreciate it if you didn't judge me.

whiteflag_3

Gatser wrote: »

I do hear what the pro-PP guys are saying about lower AMC's with PP's
but I still feel that a SIPP is the best way to go, with Unit Trusts, Inv Trusts, Gilts in it. (Still got to decide which is "the Best SIPP" though !)

quote]

Who are these Pro PP guys. I hope your not counting me amongst them!

What I am pro is pro good advice.

It never ceases to amaze me that this site exits to educate yet when professionals post their educated views they are ignored almost 100% of the time.

TO add insult to injury posters who start "help required please" usually end up taking the p*ss out of the very same people who after all are just trying to add a bit of balance to what is generally a very biased forum.

It makes not a jot of difference to me if people choose Sipp/PP or putting it under the mattress (just think about it - its not my money or my life and I dont benefit which ever route you choose) , so please dont judge people you've never and will never meet!

purch

posters who start "help required please" usually end up taking the p*ss out of the very same people who after all are just trying to add a bit of balance to what is generally a very biased forum.

.........that's cos they don't want advice......often their mind has already been made up....usually it's just reassurance that the decision is the right one, or sometimes they want a pat on the back and to be told how clever they are.

When some bloke down the pub has told them that a SIPP is the best thing since sliced whaddoyoucallit, you would rather take the advice of anyone who agrees with your mate, rather than listen to the advice of someone who actually deals in these products for a profession.

Sensible and Balanced advice is usually unwelcome, just as Sensible and Balanced portfolio's are usually conspicuous by their absence.

averageguy11

Excellant posts today...quite entertaining..lol

Gatser

whiteflag wrote: »

It never ceases to amaze me that this site exits to educate yet when professionals post their educated views they are ignored almost 100% of the time.

I am listening to every word of advice.

You are correct... I may chose to totally ignore it... my decision.
But thanks for all the comments anyway.

I am on this website to listen to all views, whether you are an IFA expert or not. Trouble is, I have come across many IFA's who know less than me... some have the decency to admit it. On here I have to test out you IFA guys... but don't be so sensitive... Don't Worry Dear, It's only a Forum!

Gatser

whiteflag wrote: »

TO add insult to injury posters who start "help required please" usually end up taking the p*ss out of the very same people who after all are just trying to add a bit of balance to what is generally a very biased forum.

Not me, Guv! (was it?)
If it was, do say so and I will apologise on here.
This Forum is quite useful but it drifts into silly insults at times just because someone has said something that is considered WRONG.

Why do we not just clearly state that "I disagree with Mr X, My view is yyyyyy" (Boring, but rather more polite & courteous)

Anyone drifting into insults should go find a chat room somewhere.
I am here for more serious stuff.:j

whiteflag_3

Gatser wrote: »

Not me, Guv! (was it?)
If it was, do say so and I will apologise on here.
This Forum is quite useful but it drifts into silly insults at times just because someone has said something that is considered WRONG.

Why do we not just clearly state that "I disagree with Mr X, My view is yyyyyy" (Boring, but rather more polite & courteous)

Anyone drifting into insults should go find a chat room somewhere.
I am here for more serious stuff.:j

But thats my point

This is a money saving site and you asked "what is the best Sipp" , we then find you only need a 4% return so you dont need the whole investment universe (ie SIPP), I then post figures showing a PP is the cheapest option, you then query the validity of the figures, then after all that you say "ive decided to go for the SIPP". ( and then welcome others who dont fully understand why they have gone for the SIPP either)

To me it feels like your extracting the Michael.

whiteflag_3

purch wrote: »

.........that's cos they don't want advice......often their mind has already been made up....usually it's just reassurance that the decision is the right one, or sometimes they want a pat on the back and to be told how clever they are.

When some bloke down the pub has told them that a SIPP is the best thing since sliced whaddoyoucallit, you would rather take the advice of anyone who agrees with your mate, rather than listen to the advice of someone who actually deals in these products for a profession.

Sensible and Balanced advice is usually unwelcome, just as Sensible and Balanced portfolio's are usually conspicuous by their absence.

well said purch!

whiteflag_3

Gatser wrote: »

Don't Worry Dear, It's only a Forum!

so if its only a forum, why are you using it as the basis for arranging your financial security?

Why do we not just clearly state that "I disagree with Mr X, My view is yyyyyy" (Boring, but rather more polite & courteous

)

is the "Dont worry Dear" your idea of polite and courteous?