What % To Invest Myself Rather Than Use IFA?

I'd usually say that you should DIY all of the inheritance, and everything else too, because I don't think IFA's are generally worth their fees. But you saying you would like to "take a punt on some shares" gives me pause. You need a plan with specific goals and a strategy to get there that minimises any gambling aspects. A good IFA should give you that; I have no idea of the quality of your IFA.

SonOf wrote: »

We recently took over the portfolio of a DIY investor (as we have many times before) and the charges were nearly half what he was paying previously. DIY does not automatically mean cheaper.


edit: word "not" missing. Thanks Bowlhead.

Sure, but employing an IFA definitely means paying their fee and if the DIY investor has a bit of common sense they should be able to run their portfolio at less cost than having an IFA do it for them. I weep when I compare my total cost in the USA to DIY of 0.07% to the costs of around 1% or more that many people pay in the UK...and also many people in the US who are still beguiled by financial industry advertising. I imagine the lowest cost you could get in the UK would be around 0.5% for fund and platform fees.

AnotherJoe wrote: »

I'm getting about 0.4% on my SL SIPP and would be 0.26% if I didn't have one fairly expensive fund out of the three in it.
Too difficult to work out my HL fees because it's got a mix of funds, ITs ETFs and shares and whilst there's a max amount you pay on everything except funds, the rest have their own internal costs. Maybe one cold winter afternoon I'll have a stab at it.

P.s. when you say 0.07% I presume you are excluding fund fees because vanguard aren't that cheap are they?

I own Vanguard funds on the US Vanguard platform and that means the platform costs are zero' it cost me nothing to buy and sell those funds. Th 0.07% is the weighted average of my fund fees, the lowest is 0.04% and the highest 0.16% for the actively managed Wellesley fund.