Intelligent Money - your investment questions answered
Discussion
selmahoose said:
Derek Chevalier said:
selmahoose said:
JulianPH said:
You mention investing everything in corporate bonds to generate an income. I would caution against that approach. You could be drawing down an income for 3 decades in retirement and will want to preserve the spending power of your capital (and therefore income) against the long term impact of inflation over this time by generating capital growth as well as income.
Well you simply take some of the drawn down income every year and buy more bonds with it. Translation for Ruperts: "Yes, but do English pubs accept "growth" as payment for a round of drinks"?
Edited by selmahoose on Saturday 2nd February 13:16
Inflation is going to happen whether you prepare for it or not and that growth is preparing your future income to not get you kicked out of your local tavern.
My better half is in your neck of the woods this weekend. Good luck against Italy this afternoon (not that you need it
)Derek - Excellent call regarding the reading matter in your link BTW.
JulianPH said:
1)Inflation is going to happen whether you prepare for it or not and that growth is preparing your future income to not get you kicked out of your local tavern.
Yes, which is why you take a bit of the bond income and increase the bond holding and with it the bond income which you continue to drawdown and spend a bit on increasing your holding which increases the income which you draw down and spend a bit on increasing the holding etc etc.
2) My better half is in your neck of the woods this weekend. Good luck against Italy this afternoon (not that you need it)
If your mrs is in/around Glasgow she is enjoying a really beautiful day here. The sun is so strong we've had to open the french windows in our south facing glasshouse. Italy? It's St Mirren we're playing (tho we won't need luck to beat them either).
Yes, which is why you take a bit of the bond income and increase the bond holding and with it the bond income which you continue to drawdown and spend a bit on increasing your holding which increases the income which you draw down and spend a bit on increasing the holding etc etc.
2) My better half is in your neck of the woods this weekend. Good luck against Italy this afternoon (not that you need it
)If your mrs is in/around Glasgow she is enjoying a really beautiful day here. The sun is so strong we've had to open the french windows in our south facing glasshouse. Italy? It's St Mirren we're playing (tho we won't need luck to beat them either).
JulianPH said:
Hello Mike
Some very good questions and given the 3rd one I thought I would be best placed to answer myself. I'll try and be as detailed as possible.
1. The industry standard tends to be 4% but the rate you take depends upon other factors, principally charges and investment returns. Our charge is 0.87% a year (more on that below) so this makes for a good starting point.
You mention investing everything in corporate bonds to generate an income. I would caution against that approach. You could be drawing down an income for 3 decades in retirement and will want to preserve the spending power of your capital (and therefore income) against the long term impact of inflation over this time by generating capital growth as well as income.
I would consider looking at total returns from a mixture of equities and bonds (and other assets, such as property) given the long time frame hopefully ahead of you. This is what our Global Growth & Income Portfolio does and it has averaged 9.09% a year over the last 10 years. After charges and inflation this would have enabled you to withdraw an average income of 5.72% a year whilst growing your capital in line with inflation.
However these are historic averages and in the real world you have excellent, average and bad years. This is why the perceived wisdom is to draw down slightly less than you my able able to take. Obviously past performance is not a guide to future performance, this goes without saying.
2. Yes. We manage everything for you (your portfolio and your pension itself) for an all inclusive fee of 0.87% with no additional costs whatsoever. This can be cheaper than you managing everything yourself using HL.
Whilst there are some hardcore DIY investors (which I think is a good thing) it sounds like you fall into the camp most people do, in that whilst you could do this yourself you would always be worrying you were doing the right thing.
The downfall with many DIY investors is they buy the current popular funds which are usually popular due to past performance that has been and gone. They are looking in the wrong direction (backwards rather than forwards).
As this is PH a car based analogy would be to compare this to going on a journey to somewhere you have never been before and only looking in the rear view mirror for direction based upon where you have already been.
This is why we buy the markets directly (using high quality trackers selected for their low costs and strong tracking correlation) and then weigh these assets to meet the requirements of each portfolio whilst regularly rebalancing to ensure nothing runs away with itself and detracts from each portfolio's objectives.
As I have said, given enough time and research this is nothing that people can't do themselves. We simply take the hassle and worry off people and ensure this is all done professionally and properly for you (whilst providing you with a named account manager to assist you with over financial matters, such a planning, tax mitigation and IHT mitigation).
3. I don't think HL will be disappearing anywhere! I knew Peter back in the day when he was still growing hie empire and he tried to get me onboard, but I wanted to launch IM and grow my own! He was also kind enough to write an article on IM in one of the financial papers when we launched.
We will certainly also be around for the long term. We are already approaching our 20th anniversary in business, have no debt and a completely privately owned by our directors, with me still having the majority shareholding. Whilst of course not being the giant that is HL we have attracted £2bn of asset without once advertising (all word of mouth recommendations) so we are not exactly small either!
Whilst we are well known in the industry this lack of advertising means we are not as well known to the public, so your question is perfectly legitimate. This is also why we are now advertising and I decided to sponsor this thread here.
4. Our Private Client Account Managers are all qualified IFAs, but we don't offer (and therefore charge for) financial advice. We have considered doing this (and a few years ago I went as far as personally buying out a couple of IFA businesses with this in mind) but after undertaking client market research we considered that this blurred the lines that defined us and made us attractive to clients in the first place.
We can certainly put you in touch with a suitability qualified adviser who can do this for you at a low or even flat fee though to save you considerable expense.
I hope I have been thorough in my answers. If there is anything else let me know here or contact the team directly, whatever you prefer.
Cheers
Julian
Hi Julian - thankyou very much indeed for the comprehensive reply! It says a lot for you that you're prepared to take the time to do this (especially at the weekend) and it's genuinely appreciated Some very good questions and given the 3rd one I thought I would be best placed to answer myself. I'll try and be as detailed as possible.
1. The industry standard tends to be 4% but the rate you take depends upon other factors, principally charges and investment returns. Our charge is 0.87% a year (more on that below) so this makes for a good starting point.
You mention investing everything in corporate bonds to generate an income. I would caution against that approach. You could be drawing down an income for 3 decades in retirement and will want to preserve the spending power of your capital (and therefore income) against the long term impact of inflation over this time by generating capital growth as well as income.
I would consider looking at total returns from a mixture of equities and bonds (and other assets, such as property) given the long time frame hopefully ahead of you. This is what our Global Growth & Income Portfolio does and it has averaged 9.09% a year over the last 10 years. After charges and inflation this would have enabled you to withdraw an average income of 5.72% a year whilst growing your capital in line with inflation.
However these are historic averages and in the real world you have excellent, average and bad years. This is why the perceived wisdom is to draw down slightly less than you my able able to take. Obviously past performance is not a guide to future performance, this goes without saying.
2. Yes. We manage everything for you (your portfolio and your pension itself) for an all inclusive fee of 0.87% with no additional costs whatsoever. This can be cheaper than you managing everything yourself using HL.
Whilst there are some hardcore DIY investors (which I think is a good thing) it sounds like you fall into the camp most people do, in that whilst you could do this yourself you would always be worrying you were doing the right thing.
The downfall with many DIY investors is they buy the current popular funds which are usually popular due to past performance that has been and gone. They are looking in the wrong direction (backwards rather than forwards).
As this is PH a car based analogy would be to compare this to going on a journey to somewhere you have never been before and only looking in the rear view mirror for direction based upon where you have already been.
This is why we buy the markets directly (using high quality trackers selected for their low costs and strong tracking correlation) and then weigh these assets to meet the requirements of each portfolio whilst regularly rebalancing to ensure nothing runs away with itself and detracts from each portfolio's objectives.
As I have said, given enough time and research this is nothing that people can't do themselves. We simply take the hassle and worry off people and ensure this is all done professionally and properly for you (whilst providing you with a named account manager to assist you with over financial matters, such a planning, tax mitigation and IHT mitigation).
3. I don't think HL will be disappearing anywhere! I knew Peter back in the day when he was still growing hie empire and he tried to get me onboard, but I wanted to launch IM and grow my own! He was also kind enough to write an article on IM in one of the financial papers when we launched.
We will certainly also be around for the long term. We are already approaching our 20th anniversary in business, have no debt and a completely privately owned by our directors, with me still having the majority shareholding. Whilst of course not being the giant that is HL we have attracted £2bn of asset without once advertising (all word of mouth recommendations) so we are not exactly small either!
Whilst we are well known in the industry this lack of advertising means we are not as well known to the public, so your question is perfectly legitimate. This is also why we are now advertising and I decided to sponsor this thread here.
4. Our Private Client Account Managers are all qualified IFAs, but we don't offer (and therefore charge for) financial advice. We have considered doing this (and a few years ago I went as far as personally buying out a couple of IFA businesses with this in mind) but after undertaking client market research we considered that this blurred the lines that defined us and made us attractive to clients in the first place.
We can certainly put you in touch with a suitability qualified adviser who can do this for you at a low or even flat fee though to save you considerable expense.
I hope I have been thorough in my answers. If there is anything else let me know here or contact the team directly, whatever you prefer.
Cheers
Julian
All of that sounds great. I reckon I am paying HL roughly 1.1% all in for what I am doing now so it's quite nice to imagine getting a service *and* it being cheaper! I am very much the typical investor that you describe above and really the best thing would be for somebody else to be making the decisions.
I do take your point about inflation eroding the purchasing power of my income - I'm not too worried about that for various reasons but in principle yes I would prefer to have an index linked amount (even if it meant some erosion of my capital - I'm not intending to live forever
) I am going to have a think for a while but what I may do is switch my current modest pot over to IM then see how that goes for the next few years and make a decision when I get the main amount (at that point a recommendation for a financial advisor would be helpful).
Thanks very much again
Derek Chevalier said:
Just to add to what Julian has said - if you want to learn more about the safe withdrawal rate I would suggest having a read of this - clearly written and not as tough going as some of the other retirement books out there.
https://www.amazon.co.uk/Beyond-4-Rule-retirement-...
I'm not sure if his tool (Timeline) will ever be available to the public but you should be able to get sufficient information from the book and this will stand you in good stead whichever option you choose going forward. Best of luck
Hi Derek. Thankyou very much, that looks interesting - I will take a look https://www.amazon.co.uk/Beyond-4-Rule-retirement-...
I'm not sure if his tool (Timeline) will ever be available to the public but you should be able to get sufficient information from the book and this will stand you in good stead whichever option you choose going forward. Best of luck
DibblyDobbler said:
Hi Julian - thankyou very much indeed for the comprehensive reply! It says a lot for you that you're prepared to take the time to do this (especially at the weekend) and it's genuinely appreciated
All of that sounds great. I reckon I am paying HL roughly 1.1% all in for what I am doing now so it's quite nice to imagine getting a service *and* it being cheaper! I am very much the typical investor that you describe above and really the best thing would be for somebody else to be making the decisions.
I do take your point about inflation eroding the purchasing power of my income - I'm not too worried about that for various reasons but in principle yes I would prefer to have an index linked amount (even if it meant some erosion of my capital - I'm not intending to live forever )
I am going to have a think for a while but what I may do is switch my current modest pot over to IM then see how that goes for the next few years and make a decision when I get the main amount (at that point a recommendation for a financial advisor would be helpful).
Thanks very much again
Hi Mike - I'm glad to have been able to be of some help, it's no problem at all! All of that sounds great. I reckon I am paying HL roughly 1.1% all in for what I am doing now so it's quite nice to imagine getting a service *and* it being cheaper! I am very much the typical investor that you describe above and really the best thing would be for somebody else to be making the decisions.
I do take your point about inflation eroding the purchasing power of my income - I'm not too worried about that for various reasons but in principle yes I would prefer to have an index linked amount (even if it meant some erosion of my capital - I'm not intending to live forever
) I am going to have a think for a while but what I may do is switch my current modest pot over to IM then see how that goes for the next few years and make a decision when I get the main amount (at that point a recommendation for a financial advisor would be helpful).
Thanks very much again
You can pick from any portfolio you like and switch portfolios at no cost whenever your wish. Click below to see them all and find out more about there objective, asset breakdown and past performance:
https://www.intelligentmoney.com/private-clients/o...
If you were to decide to become a Private Client please don't forget to enter the code PH2607 in the notes box on the first section of the application so you don't pay the initial charge (or have the minimum investment requirement).
Give me a shout if there is anything else.
Cheers
Julian
JulianPH said:
I am sorry, but I don't think I have quite understood what you are saying here.
If you could elaborate I would be more than happy to respond.
Cheers
Well not too worry I wasn't asking. If you could elaborate I would be more than happy to respond.
Cheers
I just gave my opinion about 7% interest per year being not bad for the EU.
And that you could make more by picking shares yourself if you know what you are doing.
I thought it might be useful for some to post a comparison to the service IM offers and the products Vanguard offers.
Vanguard do offer actively managed funds. These range in price from 0.75% to 0.95% a year (including their platform charge) and this rises to 1.05% to 1.25% a year if you want to use them in a pension with HL (and somewhere between if you use a pension from a platform that is cheaper than HL).
However, I will focus here on their LifeStrategy funds, as these are most frequently cited here.
These come in at 0.37% a year on the Vanguard platform (which does not include a pension/SIPP) and 0.67% on HL's platform (which does).
So at 0.87% we are more expensive by between 0.2% to 0.5%. What do we do for this then?
Firstly, we run active asset allocation management. This means that we are not blindly tied to market capitalisation and can exercise professional judgement with regards to the weighting (or omission) of any given asset class in context of each portfolio's objectives.
The last thing on this point is that we include asset classes Vanguard does not (such as property, agriculture, gold, etc.).
Secondly, as mentioned above, we offer a pension. This also comes with full SIPP commercial property functionality, meaning that if you have £100k plus invested in our portfolios we will also run physical commercial property holdings for no additional charge. I accept this is not something everyone needs, however!
Thirdly, we provide our Private Clients with a named account manager (think private banking rather than telephone banking - you are a name, not an account number) who can assist you with your financial planning, meeting your goals and objectives, mitigating lifetime taxation and dealing with future inheritance tax planning.
Our Private Client account managers are all qualified to financial adviser levels (or advanced), they just don't sell you products.
So, in a nutshell, it is not really possible to compare IM to Vanguard. Their managed funds cost the same (a little bit more or a little bit less, to be exact) than us, but come with no pension or named account manager.
If the cheapest option is your main priority then buying a Vanguard product beats us hands down.
If you want a dedicated and qualified professional account manager, active asset allocation management and a pension/SIPP, our service beats Vanguard (and every other option) hands down
I strongly recommend Vanguard for anyone wanting to take the DIY approach to the lowest cost level. If, however, you want a service (rather than a product) with human active management and someone you know to go over things with you (at no additional cost), then do have a look at IM though.
Cheers!
Vanguard do offer actively managed funds. These range in price from 0.75% to 0.95% a year (including their platform charge) and this rises to 1.05% to 1.25% a year if you want to use them in a pension with HL (and somewhere between if you use a pension from a platform that is cheaper than HL).
However, I will focus here on their LifeStrategy funds, as these are most frequently cited here.
These come in at 0.37% a year on the Vanguard platform (which does not include a pension/SIPP) and 0.67% on HL's platform (which does).
So at 0.87% we are more expensive by between 0.2% to 0.5%. What do we do for this then?
Firstly, we run active asset allocation management. This means that we are not blindly tied to market capitalisation and can exercise professional judgement with regards to the weighting (or omission) of any given asset class in context of each portfolio's objectives.
The last thing on this point is that we include asset classes Vanguard does not (such as property, agriculture, gold, etc.).
Secondly, as mentioned above, we offer a pension. This also comes with full SIPP commercial property functionality, meaning that if you have £100k plus invested in our portfolios we will also run physical commercial property holdings for no additional charge. I accept this is not something everyone needs, however!
Thirdly, we provide our Private Clients with a named account manager (think private banking rather than telephone banking - you are a name, not an account number) who can assist you with your financial planning, meeting your goals and objectives, mitigating lifetime taxation and dealing with future inheritance tax planning.
Our Private Client account managers are all qualified to financial adviser levels (or advanced), they just don't sell you products.
So, in a nutshell, it is not really possible to compare IM to Vanguard. Their managed funds cost the same (a little bit more or a little bit less, to be exact) than us, but come with no pension or named account manager.
If the cheapest option is your main priority then buying a Vanguard product beats us hands down.
If you want a dedicated and qualified professional account manager, active asset allocation management and a pension/SIPP, our service beats Vanguard (and every other option) hands down
I strongly recommend Vanguard for anyone wanting to take the DIY approach to the lowest cost level. If, however, you want a service (rather than a product) with human active management and someone you know to go over things with you (at no additional cost), then do have a look at IM though.
Cheers!
anonymous said:
[redacted]
Hello mate! Forky is doing fine thanks, though I think he secretly misses the days of being the centre of attention! We can certainly help. We offer a range of fully managed portfolios with different levels of risk and also have portfolios that blend you through different risk levels over the years to ensure you stay on track as you get closer to wanting to either withdraw funds or take an income from them.
You can see more here:
https://www.intelligentmoney.com/private-clients/o...
Give me a shout here or PM me if you want to have a chat about anything.
Cheers!
So: on the topic of figuring out performance of funds....& with the full caveat that past performance is no indication of future blah blah (although what the heck else can anyone use!):
If I have a fund, & I know (for example) that the X year cumulative performance is Y%.....but perhaps I don't know anything about the value at the start or end.....
...is there a simple formula for figuring out the annualised performance?
I feel there must be, but a rapid google hasn't found me the way to do it!
Cheers!
If I have a fund, & I know (for example) that the X year cumulative performance is Y%.....but perhaps I don't know anything about the value at the start or end.....
...is there a simple formula for figuring out the annualised performance?
I feel there must be, but a rapid google hasn't found me the way to do it!
Cheers!
mikeiow said:
So: on the topic of figuring out performance of funds....& with the full caveat that past performance is no indication of future blah blah (although what the heck else can anyone use!):
If I have a fund, & I know (for example) that the X year cumulative performance is Y%.....but perhaps I don't know anything about the value at the start or end.....
...is there a simple formula for figuring out the annualised performance?
I feel there must be, but a rapid google hasn't found me the way to do it!
Cheers!
Sorry Mike, I've only just seen this.If I have a fund, & I know (for example) that the X year cumulative performance is Y%.....but perhaps I don't know anything about the value at the start or end.....
...is there a simple formula for figuring out the annualised performance?
I feel there must be, but a rapid google hasn't found me the way to do it!
Cheers!
The answer is, like the question, not particularly simple!
R =(((Y+1)^(1/X))-1)*100
Where R is the annualised rate of return (i.e. the unknown) Y is the cumulative return as a decimal (e.g. 30% = 0.3) and X is the number of years.
So if Y = 30 and X = 5 then R = 5.387 (to 3 decimal places).
If is helpful then great. If it is not then give me the numbers involved and I'll let you know the answer!
JulianPH said:
Sorry Mike, I've only just seen this.
The answer is, like the question, not particularly simple!
R =(((Y+1)^(1/X))-1)*100
Where R is the annualised rate of return (i.e. the unknown) Y is the cumulative return as a decimal (e.g. 30% = 0.3) and X is the number of years.
So if Y = 30 and X = 5 then R = 5.387 (to 3 decimal places).
If is helpful then great. If it is not then give me the numbers involved and I'll let you know the answer!
Genius!The answer is, like the question, not particularly simple!
R =(((Y+1)^(1/X))-1)*100
Where R is the annualised rate of return (i.e. the unknown) Y is the cumulative return as a decimal (e.g. 30% = 0.3) and X is the number of years.
So if Y = 30 and X = 5 then R = 5.387 (to 3 decimal places).
If is helpful then great. If it is not then give me the numbers involved and I'll let you know the answer!
It was the cumulative return expressed as % (where 100% = 1) that screwed up what I saw on t'internet:
Many thanks!!
mikeiow said:
JulianPH said:
Sorry Mike, I've only just seen this.
The answer is, like the question, not particularly simple!
R =(((Y+1)^(1/X))-1)*100
Where R is the annualised rate of return (i.e. the unknown) Y is the cumulative return as a decimal (e.g. 30% = 0.3) and X is the number of years.
So if Y = 30 and X = 5 then R = 5.387 (to 3 decimal places).
If is helpful then great. If it is not then give me the numbers involved and I'll let you know the answer!
Genius!The answer is, like the question, not particularly simple!
R =(((Y+1)^(1/X))-1)*100
Where R is the annualised rate of return (i.e. the unknown) Y is the cumulative return as a decimal (e.g. 30% = 0.3) and X is the number of years.
So if Y = 30 and X = 5 then R = 5.387 (to 3 decimal places).
If is helpful then great. If it is not then give me the numbers involved and I'll let you know the answer!
It was the cumulative return expressed as % (where 100% = 1) that screwed up what I saw on t'internet:
Many thanks!!
nikaiyo2 said:
I think maybe a post here might be in order.
I think perhaps I am looking for some indication where to go with some estate planning advice
For my mum, to avoid seemingly height fees
Hello again!I think perhaps I am looking for some indication where to go with some estate planning advice
For my mum, to avoid seemingly height fees
There are many variables that come in to play dependent on the circumstances and objectives.
That is not to say it is highly complex (necessarily).
Nik will be along shortly to give a generic overview and this may be enough to answer your questions.
If not, please feel free to PM me with details and I can be more specific (I am assuming you would not want to share such details in public).
My comment on the financial adviser route being expensive was in comparison to a one off solicitor fee for doing the work.
Financial advisers typically charge 3% upfront and 1% a year of all investable asset on an ongoing basis. Solicitors just charge for their time in delivering the advice.
Hopefully we can give you the information you need to either reduce or eliminate such charges.
Cheers
nikaiyo2 said:
I think maybe a post here might be in order.
I think perhaps I am looking for some indication where to go with some estate planning advice
For my mum, to avoid seemingly height fees
As Julian has indicated, IHT is very dependent on individual circumstances.I think perhaps I am looking for some indication where to go with some estate planning advice
For my mum, to avoid seemingly height fees
Solutions can be kept relatively simple but without knowing the assets and circumstances of the individuals involved it can be difficult to give a succinct answer but I’ll give it a go!
Beyond gifts between spouses and some additional allowances the assets of an estate above £325,000 are subject to IHT.
There is a further allowance of £125,000 for property that is passed to Children or Grandchildren.
The main allowances that are available to reduce the value of the estate and any IHT bill are the gifting allowances. These can be broadly spilt into immediate relief and potential relief.
The immediate relief options are limited to :
£3,000 p.a. (you can carry forward an additional years allowance if it wasn’t used)
Gifts of £250 per person, (excluding any individual that you gifted the £3,000 allowance to)
Gifts from regular income that do not affect your standard of living. The rules for this exemption are quite detailed for example, these gifts must be regular i.e. payments into a regular savings plan or life insurance policy.
Potential Relief (Potentially Exempt Transfers)
This relief is available on any gift that is made. The gift becomes exempt from IHT 7 years after it was made. There is a sliding scale of relief given from year 3 to year 7, know as taper relief so if you die between year 3 and 7 there is a reduction in tax payable and after year 7 the gift is exempt from IHT.
Any planning to reduce an IHT liability is based around use of these allowances.
The use of trusts can allow any asset to be gifted without it passing directly to the beneficiary at that time or to split an asset between its current value and any future increase in value. This can be used to “cap” the value at its current level rather than have future increases in value add to any IHT liability.
Broadly speaking if the person gifting the asset into a trust maintains some benefit from the asset then it is unlikely to be efficient in reducing IHT.
It is this area that becomes very dependent on the type of asset to be gifted, the control that the person gifting wants to maintain and their need for any on-going benefit from the asset.
For example if an individual was to gift their property either to another individual or a trust and then continue to live in the property without paying a market agreed rent, on death the property is unlikely to be treated as gifted and included at its full value for IHT purposes.
The second consideration is to “insure the liability” This involves putting in place a life insurance policy that pays out on death of the individual whose estate you are looking to protect.
If the individual has enough surplus income to meet the “funded from regular income” criteria then the premium can be paid by them and not be treated as a gift.
The policy can be placed in trust so that the benefits do not form part of the estate and on death pay out enough to either fully pay or contribute towards any IHT bill.
This approach doesn’t try to reduce any IHT bill, but provides a means to pay the bill without using the assets form the estate.
Sometimes a combination of both may be used, for example gifts are made to reduce the value of the estate and reduce the potential tax bill.
If these gifts exceed the annually £3,000 allowance there will still be a tax liability for 7 years after the gifts are made. You can then use a life insurance policy to cover this 7-year period.
In summary you can either make use of gifting allowances and the 7 year Potentially Exempt Transfer rules to bring the value of the estate under £325,000 or insure to cover the bill that you may be subject to.
When using the gifting route you can make use of trusts to maintain some level of control of the assets without having a beneficial interest or split the current value of the asset from future growth and so prevent any IHT liability from increasing.
I hope this helps. There are several “wrinkles” and offshoots from these main principles that can be applied given individual circumstances and needs.
As Julian has said if you would like to talk through your individual situation I’m very happy to share thoughts and ideas with you for you to consider.
Regards
Nik
JulianPH said:
Hello again!
There are many variables that come in to play dependent on the circumstances and objectives.
That is not to say it is highly complex (necessarily).
Nik will be along shortly to give a generic overview and this may be enough to answer your questions.
If not, please feel free to PM me with details and I can be more specific (I am assuming you would not want to share such details in public).
My comment on the financial adviser route being expensive was in comparison to a one off solicitor fee for doing the work.
Financial advisers typically charge 3% upfront and 1% a year of all investable asset on an ongoing basis. Solicitors just charge for their time in delivering the advice.
Hopefully we can give you the information you need to either reduce or eliminate such charges.
Cheers
Thanks Julian There are many variables that come in to play dependent on the circumstances and objectives.
That is not to say it is highly complex (necessarily).
Nik will be along shortly to give a generic overview and this may be enough to answer your questions.
If not, please feel free to PM me with details and I can be more specific (I am assuming you would not want to share such details in public).
My comment on the financial adviser route being expensive was in comparison to a one off solicitor fee for doing the work.
Financial advisers typically charge 3% upfront and 1% a year of all investable asset on an ongoing basis. Solicitors just charge for their time in delivering the advice.
Hopefully we can give you the information you need to either reduce or eliminate such charges.
Cheers
Will PM you shortly.
I put in contact with my IFA a few years ago, and he was really good but seems to be very ANTI inheritance planning unsure why!
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