IFA's expecting too much

edited 30 November -1 at 1:00AM in Savings & Investments
4 replies 604 views
westy69westy69 Forumite
161 Posts
edited 30 November -1 at 1:00AM in Savings & Investments
a bit of a general Q is it too much to expect say if you had 50-100K invested for your IFA to be actively managing your funds ie advising you if/when to change funds etc, as you may have read i have had a "few" difficulties lately and pulled some money out of global property and into cash my IFA advised me to keep an eye on the figures for increases and to watch out for when to go back in :rolleyes: now i appreciate they may not look at your individual funds on a daily basis but say i had 8-10 funds could/should i expect the IFA to be keeping his eye on them or am i expecting too much?

BTW a speculative question just in case i win my complaint and get to start all over again ;) i am trying to get some research and knowledge under my belt - once bitten and all that
i am new to this investing business and value peoples experience/opinions as a learning tool - thank you

Replies

  • purchpurch Forumite
    9.9K Posts
    Yes

    He is a Financial Advisor....not an Investment Advisor

    If I wanted or needed, specific Investment advice, an I.F.A. may not necessarily be my first point of call
    'In nature, there are neither rewards nor punishments - there are Consequences.'
  • dunstonhdunstonh Forumite
    107.2K Posts
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    ✭✭✭✭✭✭
    but say i had 8-10 funds could/should i expect the IFA to be keeping his eye on them or am i expecting too much?

    You only have £50-£100k. That size portfolio isnt large enough to get very frequent monitoring unless you pay for for a servicing contract. 6 monthly to annual is fine on a portfolio of that size.

    Remember that if you tinker too much you can do more damage than good. Micromanagement can miss opportunities just as easily.

    If the portfolio is sector allocated and it needs rebalancing, it can often take over a year to get out of sync. Sometimes it can be a few months, sometimes it can be a few years.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • Funds shouldn't really need changing very often, regardless of your investment size. You are already paying the fund manager to switch between shares, which THEY will be micromanaging, the only reason to change funds is if there are fundamental changes in sector prospects, or the fund manager gets run over by a bus or something.
  • westy69westy69 Forumite
    161 Posts
    :beer:

    thanks again
    i am new to this investing business and value peoples experience/opinions as a learning tool - thank you
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