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R.C.Brown Investment Managers
TychoTMA
Posts: 44 Forumite
Has anyone had any experience of using R.C.Brown (Bristol)? They are Investment Managers, as distinct from Financial Advisors.
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Not something I know about but I'm sure someone who knows about these things will be along to give a considered opinion soon.
But, in the meantime, here's their website http://www.rcbim.co.uk/ for those wanting to see what they do.0 -
They are a small discretionary investment management firm. They make their services available to advisers who want a discretionary investment management service (some adviser firms are pro discretionary investment management - others against).
They are expensive going by their fee schedule for smaller investors but not bad for a DFM for larger investors. DFMs are not really aimed at smaller investors though. So, that is understandable. It isnt clear how much of their portfolio is shares etc and how much is funds. If it is funds and there is an adviser charge on top of the fund charge and the DFM charge then it is looking costly. If its all direct assets then its better value.
It isn't clear from the fee schedule how much VAT is involved (i.e. how much of their fee is subject to VAT). DFM services are normally vatable whereas most advisory is not.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.0 -
They were recommended by a friend, but one who I suspect is not very savvy. I need to get more from him as to the criteria by which he judges them. I believe their portfolio is mainly funds. Their website may give an impression that they are bigger than they actually are, as websites often do.0
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I believe their portfolio is mainly funds.
In which case, that makes them expensive as there are too many layers.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.0 -
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Sorry, don't understand your comment. If I invest directly with RCB, then isn't it the case that there are just the same number of layers as if I invested via the local IFA who then put the money in funds?
They are a DFM. Not an advisory company. They dont give advice. So, its different to an IFA. Plus, IFAs would not be subject to VAT. DFMs are.
Their website indicates they offer DFM services to clients of IFAs.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.0 -
They are a DFM. Not an advisory company. They dont give advice. So, its different to an IFA. Plus, IFAs would not be subject to VAT. DFMs are.
Their website indicates they offer DFM services to clients of IFAs.
The website might be loosely worded; as mentioned in an earlier post, I have a friend who deals directly with them with no IFA involved. So, in terms of number of layers, I don't see that he's worse off; he's got the DFM and the Fund Manager to pay. If the advice is good (and he's delighted with them), I'd say that having VAT on their fees is going be quite a small issue.
I think there's a perspective that says that by the time your'e in you mid-60's (as we are), lots of the issues an IFA might help with are already done and dusted; closed out several years ago.
It seems to me that the only real concern that I have where there are options for major changes is the composition of my investment portfolio and a DFM could be one good way of dealing with that.0
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