Fisher Investments UK - experience ?

[gifdy]

Does anyone have any experience of Fisher Investments UK - good or bad ?

I have multiple company pensions invested in a variety of funds. I'm starting to think about retirement planning but keeping track of it all and ensuring I'm getting the most out of my pot is beyond me. These guys offer a investement management service where all funds are transferred to them and they manage the overall pot ( rather than through fund managers ). The model sounds good and the growth rates they showed seem to outperform the market (net of fee) but it feels like a risky move to me - I'm financially cautious by nature.

Anyone use them and are willing to share their experience ?

Ta

[craig1912]

Haven’t (and wouldn’t use them) but I don’t like their marketing, they come across as a bit pushy and are a pain if you make an enquiry.
Reviews are very mixed and fees seem to be a little on the high side, but probably less than SJP.

[Derek Chevalier]

gifdy said:

I'm starting to think about retirement planning

gifdy said:

offer a investement management service

Who will do the actual retirement planning? The bit that actually takes the time and effort. Investment management is a small subset of the overall retirement planing process.

gifdy said:

and the growth rates they showed seem to outperform the market

You will need to dig a little deeper - something that is shown to outperform may mean it is more risk and/or the benchmark chosen isn't ideal.

[gifdy]

Derek Chevalier said:

gifdy said:

I'm starting to think about retirement planning

gifdy said:

offer a investement management service

Who will do the actual retirement planning? The bit that actually takes the time and effort. Investment management is a small subset of the overall retirement planing process.

gifdy said:

and the growth rates they showed seem to outperform the market

You will need to dig a little deeper - something that is shown to outperform may mean it is more risk and/or the benchmark chosen isn't ideal.

Thanks for the responses. Ultimately planning is my responsibility but they have offered to do an assessment of my current situation and a 'income plan' for retirement. I'm not entirely sure what that is but this first phase is free of charge so there's no harm in seeing what they come up with.

Yes, I need to do some more research. We're still in the 'marketing' phase so I know they are showing themselves in the best light. They seem to have a different model than an IFA so I wanted to get some input from those who may be using them already

[MaxFromage]

A client had them on their shortlist. I wasn't very impressed all round to be honest. The 'sales guy' seemed like he'd be more suited to double glazing.

[river_rat]

My experiences from talking to them several years ago:

1. Their fees are high (and they take a percentage up-front just to move you onto their platform).

2. They are extremely pushy - the sales guy that visited me was an ex-photocopier salesman for Xerox. They then never leave you alone.

3. They do quote very good returns, but from memory when I was looking they weren't any better than a Vanguard LS100 or some of the Intelligent Money portfolios (which both have much lower on-going charges).

My conclusion was to not touch them with a barge pole.

[xeny]

river_rat said:

they take a percentage up-front just to move you onto their platform

I accept there are costs in onboarding a client, but this always makes me think a business wants to use the sunk cost fallacy to make me reluctant to leave them should I be unhappy.

[gifdy]

xeny said:

river_rat said:

they take a percentage up-front just to move you onto their platform

I accept there are costs in onboarding a client, but this always makes me think a business wants to use the sunk cost fallacy to make me reluctant to leave them should I be unhappy.

Yeah, setting up fees are 1% then ongoing management fees are 1.7% - really steep compared to my current fees. I think there may be an issue with the level of protection under FSCS but I need to look into that more. I have 4 providers which would give me 85K protection each but this arrangement would presumably only give me 85K protection total. I don't buy the 'too big to fail' argument so it's a consideration.

[craig1912]

gifdy said:

Yeah, setting up fees are 1% then ongoing management fees are 1.7% - really steep compared to my current fees. I think there may be an issue with the level of protection under FSCS but I need to look into that more. I have 4 providers which would give me 85K protection each but this arrangement would presumably only give me 85K protection total. I don't buy the 'too big to fail' argument so it's a consideration.

Yep £85k total if one provider of a SIPP. This was one of the considerations when I put all mine in a Personal Pension where there is no maximum limit for FSCS compensation.

[bogie]

craig1912 said:

Yep 85k total if one provider of a SIPP. This was one of the considerations when I put all mine in a Personal Pension where there is no maximum limit for FSCS compensation.

as far as im aware there is no limit of £85k or any upper limit at all for a SIPP

Imagine all those people with £500k or £1M pension pots, do they have to have 10 or 15 different providers to be insured ?..nope

see clarification on products here

https://www.onlinemoneyadvisor.co.uk/pensions/sipp...

[craig1912]

bogie said:

as far as im aware there is no limit of 85k or any upper limit at all for a SIPP

Imagine all those people with 500k or 1M pension pots, do they have to have 10 or 15 different providers to be insured ?..nope

see clarification on products here

https://www.onlinemoneyadvisor.co.uk/pensions/sipp...

Well there is, although as with everything pensions it is not straight forward.

Funds are generally ringfenced but some more “obscure” investments may not be. If there is a shortfall then the FCSC max is 85k

https://www.fscs.org.uk/check/pension-protection-c...

Further complicated if you have taken advice

https://www.fscs.org.uk/news/protection/claim-allo...

Edited by craig1912 on Wednesday 18th May 20:40

Edited by craig1912 on Wednesday 18th May 20:41