Intelligent Money - your investment questions answered

[Intelligent Money]

Hi Grant,

I'm also confused!! You have mail

Nik

[Intelligent Money]

KTF said:

A payment was made in to Global Growth for me today and now the graph has dropped to the value of the payment only.

Assume this is the same bug as well?



I also have two line items under Current Holdings for Global Growth, one with the payment today, the other with the existing holding.

Edited by KTF on Monday 4th May 15:39

Hi Peter,

Apologies for the Dashboard issue. It is a consequence of the migration we are doing with the Optimum Portfolios. The development team are going to add a short term fix to prevent the data feeds from cancelling each other out, The error is a function of the new data feed providing a more up to date and quicker valuation than the old one which is one of the reasons for the switch.
Once the migration is complete this will no longer be an issue for us and you!

Regards

Nik

[Intelligent Money]

samdale said:

Just thought I'd put a quick post on here as a thank you to Nik and Alex for taking the time to listen to my thoughts the other day.

Hopefully it was of some use and it was good to hear that a lot of my suggestions were already in the works. Look forward to seeing the updates in the not too distant future.

Think I need to work on my use of "Oh and another thing..." To avoid taking up too much of your time in future

Hi Sam,

Thank you for taking the time out to share your ideas with us. We are always looking to make sure the dashboards provide the information that you want too see and in a format that makes sense to you.

It was great to see we are on the right track with the areas we are working on and your input defiantly helped us see through some of the blindspots that we have being as close to process a we are.

Thanks Again

Nik

[Intelligent Money]

Carry Forward

A query came up on another thread around carry forward for pension contributions so I thought it may we worthwhile outlining the process to clarify how it works and deal with some areas that cause confusion.

It is easier to consider the process in two sections
1. How much can you contribute to your pension?
2. How much tax relief can you obtain?


How much can you contribute?

You first need to maxmise the current years contribution which will be £40k or 100% of your earnings, whichever is the lower.
You can now go back three years and look at contributions made in those years, as long as you held a pension plan in those years.
The allowance for each of those years is £40k minus any contributions you made.
You now bring forward any unused contributions from those years staring at 3 years ago and coming forward.
This tells you how much you pay into a pension this tax year.

Tax Relief

The tax relief you can claim on these contributions is 100% of your earnings in the year that you make the contribution.

Example

2020/21 Earnings £100k
Pension contributions of £10k p.a. for the last 4 years.

How much can you contribute?
£40k for 2020/21
£30k for 2017/18 (£40k - £10k already paid)
£30k for 2018/19 (£40k - £10k already paid)
£30k for 2019/20 (£40k - £10k already paid)

So in 2020/21 you could contribute £130k

How much tax relief can you claim?
You can claim tax relief on 100% of earnings so £100k
The additional £30k will attract no tax relief

So you may want to hold off on the additional £30k and contribute it in a later year to gain tax relief or invest it elsewhere to gain additional flexibility and access.

Hope this helps.

Regards

Nik

[Intelligent Money]

Brads67 said:

Just browsing on my laptop this morning looking at my investments, and did a quick comparison to compare my IM account with my True potential account.

Similar risk profiles (Maybe slightly more exposure to equities with IM) and from the 18/3/20 (low point and start point for my TP account)

Trying to work out recovery from the mad drop in Early March

TP increase is 7.2% IM increase is 16.5%

My intention was not to stay with TP as I got closer to 55 anyway and to move everything to IM and this reassures me why I'm doing it.


Anyhoo, just an observation.

Nik, you getting out on the bike ?

Hi Brads

Hope all is good with you and you're getting the chance to turn the pedals. I've managed to grab some good time on the bike, lucky to have such great trails on the door step that I can ride to from the front door!

Cheers

Nik

[Intelligent Money]

2Btoo said:

Nik,

Thanks, that was a very helpful write-up.

What qualifies as 'earnings' for the purpose of pension tax relief? Salaried income, presumably. What about dividend income? What about income from investments or rental yield from a property?


Thanks again.

Hi 2Btoo

Net Relevant earnings are income from employment, i.e. salary, bonuses, overtime. It is the income that you find on your P60. For the self employed it is effectively earnings minus allowable expenses.

Cheers

Nik

[Intelligent Money]

[quote=JulianPH]

Just to add, dividend income and property rental income (unless from a property management company that pays you a salary) does not count towards Net Relevant Earnings.

How come I always have to tidy up after Nik!

(Joking!)

I sometimes like to make you feel useful

; )

[Intelligent Money]

It’s always great to hear that you have found the service we offer is what you are looking for and the that the guidance we offer is helpful. I am often in E-mail or phone conversation with members after you have taken the time to post some feedback on the thread and so I thank you in person but forget to say thank you on here. So I am just putting that right and wanted to say thank you for taking the time to give us feedback, both good and constructive. It has really helped us build the Private Client service by understanding what you as clients are looking for and focusing our efforts on doing more of what you want.

Thanks Again

Nik

[Intelligent Money]

Miopyk said:

Hi Julian/Nik,

After a couple of calls with Nik I've now decided to move my funds to you so have just submitted my application to move from Aegon to yourselves and have received a reference number from you. Are you able to advise roughly how long you would expect the transfer to take.

Thanks

I am glad I didn't manage to put you off too much! Welcome to Private Clients and thanks for you application.

Aegon can be a little variable, I would imagine 3 - 4 weeks but we have completed Aegon switches in as little as a week with a following wind.

We will start the process with them today and pull your funds over as quickly as we can.

Nik

[Intelligent Money]

dingg said:

Miopyk said:

Hi Julian/Nik,

After a couple of calls with Nik I've now decided to move my funds to you so have just submitted my application to move from Aegon to yourselves and have received a reference number from you. Are you able to advise roughly how long you would expect the transfer to take.

Thanks

My transfer from rl took a week.

Aegon may be different though.

https://www.google.com/amp/s/www.telegraph.co.uk/p...

Hope they are quicker than they were.

Edited by dingg on Wednesday 10th June 13:32

I don't often comment on other providers but I couldn't help but smile reading the article, Pension Bee are ,in our experience, one of the most difficult and obstructive providers to deal with when it comes to transferring funds over so it seemed a little ironic to see them bemoaning Aegon fro their service!

Nik

[Intelligent Money]

2Btoo said:

Julian,

Mrs 2BToo and I had a very helpful chat with Nik last Friday and I've just transferred an investment from another pension over to IM, going all in to PH Equity. Being a shallow and worldly creature I was swayed by the mightily impressive figures you have for that fund and I hope it all carries on going in the future as well as it has done in the years gone by!

I had a question for Nik concerning releasing funds from other investments to buy a house and the most tax-efficient way of doing this. I've eMailed it to Nik and I am sure that he will answer it in due course.

Thanks again to you and Nik and the rest of your team - your help is appreciated. And I hope you get your Aston back from him soon.

Thank you 2BToo it was good to speak to you and I am glad it was helpful. I am working round to catching up with myself today so will have a reply back to you by the end if the day.

Julian keeps talking about this Aston but I have no idea what he is on about, he must be losing the plot

[Intelligent Money]

markiii said:

Julian

A few questions, I dare say many asked before but this thread is getting too long to find stuff :-)

Can you confirm how long it takes to move investments from fund to cash (PH Equity if it matters) I ask as requested a transfer of some funds to cash on the 8th and still not there yet.

Pensions for kids, I know if you open you can get personal tax relief, but would the fund show up in my dashboard or would their be a new account per child?

Can you confirm what time the the dashboard updates each day I'm losing track of whether I'm looking at todays figures or yesterdays?

cheers

Hi Mark,

Your switch landed in cash today. It will show as cash on your dashboard on Monday, unfortunately there is a delay with the feed from the bank to your dashboard cover the weekend.

For Junior Pension, you open them within your account and they appear as additional pensions on the drop down from the pension tab on your dashboard.You can apply for the JPension/s from your dashboard.

The dashboard feeds update at around 10:00 a.m. each day.

Cheers

Nik

[Intelligent Money]

Apologies to those of you that i have already shared this with, but I was once told that investing is like baking a cake.

If you get the ingredients right, follow the recipe and set the oven temperature correctly then if it says leave it in oven for 45 mins leave it in for 45 mins,

If you keep opening the oven to check it every 5 mins or take it out after 10 mins you are likely to get a soggy mess! Of course if you smell burning you may want to re-visit the original plan but otherwise trust the process.

Cheers

Nik

[Intelligent Money]

Hi Colin,

You can add to your ISA by logging into your dashboard, scroll down to contributions and click add new contribution. If are looking to transfer in from another provider you can scroll down to the transfers section and click add new transfer.

There are some new dates for the racing : https://www.britishgt.com/news/599/intelligent-mon...

We are waiting for confirmation of the conditions that will be applied for attendance so we are not sure yet wether the races will run behind closed doors or if we will be able to offer the VIP packages as we had planned.

Nik

[Intelligent Money]

Hi Brads,

Good to catch up with you, fingers crossed that we are able to get some VIP packages set up for some of the races,

Nik

[Intelligent Money]

xerawh said:

right this may be getting tiresome for a few but ...

i'm happy today as my (and my wife's) portfolio's are finally no longer in the red (except one by 0.4%) - we were unfortunate in that a lot of our money / transfers came in to IM at various highs (esp earlier this year) and hence got hit pretty hard by CV19

cue lots of panic, lots of emails to Nik and the team, and many small and large transfers and rebalancing here and there (because I'm fickle)...

this was all taken in stride by IM, who listened patiently, shared some thoughts and common sense, and got on with the job.... and still gave me personal lines to Magnum (even whilst in his swimming pool), Nik, and various others in the team (not sure they want to be named)

Unless they now disappear with everyone's money (unlikely) this has by far been what customer service and financial education should look like

Hi Xerawh

Thank you or the great feedback, as Julian has said it is a team effort and I am glad that is working for you.It is great to hear that we have got both the asset management and the client management in the right spot for you.

Nik

[Intelligent Money]

PorkInsider said:

Thanks Julian. Will do.

I'm not sure I even put the PH code in the right box on the application - I was looking for the 'notes' box to put it in, as per an old post on this thread regarding the code.

Hi Porkinsider,

There is now a box for introducer/promotion code in the application. Don't worry you were set up on PH terms, the team check applications that come in and refer any over that look PHish and I then allocate the code if it has been missed.

Regards

Nik

[Intelligent Money]

brman said:

Thanks for that very thorough answer! That sounds like exactly what I am after so, given I am already a happy customer, it sounds like I need to make better use of Nik

Hi brman

Happy to help where i can, just get in touch, [e-mail].

Regards

Nik

[Intelligent Money]

highpeakrider said:

Hello

My feed data is now correct and just showing single entries for each fund.
However my piecharts are still duplicated.
Is this me or everyone?

Hi highpeakrider

Can you drop me an e-mail at nik.burrows@intelligentmoney,com and I will ask the tech team to take a look for you.

Thanks

Nik

[Intelligent Money]

anonymous said:

[redacted]

Hi daimlerv8

It is fair to say that this wasn't one of the easier transfers but I am glad we have got there for you. Thank you for your kind words and I am pleased that we were able to help you get your money where you wanted it to be.

Regards

Nik