IFA charges on a £50 k investment.
Discussion
Buster73 said:
What sort of charge should I be paying on a £50k investment possibly spread over a few funds after taking her advice.
Up front fee and ongoing trail commission .
Any pointers in the right direction would be appreciated .
The company I use (which admittedly is very good) charges 2% initial plus 1% amc. For that I get great service and last year a 14% return whilst keeping 20% in cash. This year we hit 12% by mid April and went into a managed defensive fund to sit it out. Pm me if you want more info. I think your biggest problem is a lot of people won't deal with £50k but at the same time mine probably would for the right person. Up front fee and ongoing trail commission .
Any pointers in the right direction would be appreciated .
Petrus1983 said:
The company I use (which admittedly is very good) charges 2% initial plus 1% amc. For that I get great service and last year a 14% return whilst keeping 20% in cash. This year we hit 12% by mid April and went into a managed defensive fund to sit it out. Pm me if you want more info. I think your biggest problem is a lot of people won't deal with £50k but at the same time mine probably would for the right person.
£50 k not enough like ?It's not a cash transaction FYI .
Petrus1983 said:
Don't take it personally! My local bank where I use to live had a minimum of 5m Euros. I think Coutts is circa £250k at the moment, could be higher.
True enough. £50k seems to be the absolute low limit for IFAs and there are a few locally (Bath) that don't like to go that low; I'm not fully sure of the reason but I believe it's because they can't realise their investment strategy on that amount of money.davepoth said:
True enough. £50k seems to be the absolute low limit for IFAs and there are a few locally (Bath) that don't like to go that low; I'm not fully sure of the reason but I believe it's because they can't realise their investment strategy on that amount of money.
It's more a case of time spent vs reward. If you have £500k cases queuing, then the 50k ones won't get a look in.
Petrus1983 said:
Don't take it personally! My local bank where I use to live had a minimum of 5m Euros. I think Coutts is circa £250k at the moment, could be higher.
Coutts have just changed their fee structure, my Manager informed me that my £250k would attract a minimum charge of £5k fees per annum. As it sits in an income fund he thought this was excessive and has handed me the reins of administering it. At that kind of level I'd agree with Dave to some extent, find a cheap online broker,but if you're not overly confidentt buy something that's managed for you, either active multi-manager type or passive, rather than try and make fund selections you're not completely happy with. That way your decision is more simply about your main aim and your risk appetite.
It's the ongoing buying and selling to reflect future needs and market changes that are the bits most amateurs forget about.
It's the ongoing buying and selling to reflect future needs and market changes that are the bits most amateurs forget about.
Craikeybaby said:
Ahhh, maybe that is why I've not been having much luck getting my IFA to set up a stocks and shares ISA He's been pretty good at the other stuff he sorted out and I've put a lot of new business his way too.
Many IFAs aren't qualified to advise directly on equities. You might need an investment adviser/stockbroker.DoubleSix said:
Craikeybaby said:
Ahhh, maybe that is why I've not been having much luck getting my IFA to set up a stocks and shares ISA He's been pretty good at the other stuff he sorted out and I've put a lot of new business his way too.
Many IFAs aren't qualified to advise directly on equities. You might need an investment adviser/stockbroker.Gassing Station | Finance | Top of Page | What's New | My Stuff