Any IFA's in the house?
Discussion
Invesco Perpetual have created a new GARS-type fund called the GTR - Global Targeted Returns.
My IFA is pushing me heavily to get into this. Does anyone know if the fund managers are offering an incentive to IFA's who help to build this fund to critical mass?
We know that Fidelity offered incentives to help kickstart a new fund a few years ago at about the same time the same IFA heavily promoted that fund to us...
My IFA is pushing me heavily to get into this. Does anyone know if the fund managers are offering an incentive to IFA's who help to build this fund to critical mass?
We know that Fidelity offered incentives to help kickstart a new fund a few years ago at about the same time the same IFA heavily promoted that fund to us...
I always tell my clients to hold back with new fund launches.
I like to see some stats over a decent timscale before committing mine or anyone elses money.
There are tens of thousands of funds out there, some with superb performance records, so there should be no need to be rushed into a new unproven fund.
I like to see some stats over a decent timscale before committing mine or anyone elses money.
There are tens of thousands of funds out there, some with superb performance records, so there should be no need to be rushed into a new unproven fund.
Agree with all said so far: full disclosure of costs, I've never "pushed" a fund - that's creating a rof for your own back! and I would always be reluctant to try anything without a track record unless the client has a very speculative attitude to riak, and even then...
How would you be buying this fund? Via a Wrap platform, Life/Pension co or direct?
How would you be buying this fund? Via a Wrap platform, Life/Pension co or direct?
We'd be investing via a platform that we're already in. It's the time of year when we do a bit of churn to generate some gains. We are pretty seasoned investors (we are the reason that the platform we're in had to withdraw its CGT tool two years running because we found flaws in its calculations).
However in our conversations with our IFA he keeps on coming back to this fund. We already have a significant position in SL GARS so I'm not sure that this new fund is quite as complementary as he suggests. Looks like more of the same to me. However, every time I ask about diversified funds he keeps on espousing the benefits of the IP GTR fund.
We're a little bit jaundiced because I know for a fact that Fidelity were paying incentives direct to IFAs who placed business into their new fund a few years ago, and the timing coincided with our IFA's suggestion to get in...
However in our conversations with our IFA he keeps on coming back to this fund. We already have a significant position in SL GARS so I'm not sure that this new fund is quite as complementary as he suggests. Looks like more of the same to me. However, every time I ask about diversified funds he keeps on espousing the benefits of the IP GTR fund.
We're a little bit jaundiced because I know for a fact that Fidelity were paying incentives direct to IFAs who placed business into their new fund a few years ago, and the timing coincided with our IFA's suggestion to get in...
That's why I asked about the platform, in my experience the way funds are bought on platforms (i.e. along institutional lines) means the manager doesn't directly know how much Joe Bloggs IFA has placed, they just know that ACME Wrap platform has x number of units that day, which is your units plus anyone else's.
I've never taken an incentive payment of any sort from a manager (although I have been offered them prior to RDR) and I would be surprised if any post RDR IFA did without declaring it and offsetting their fee accordingly.
I've never taken an incentive payment of any sort from a manager (although I have been offered them prior to RDR) and I would be surprised if any post RDR IFA did without declaring it and offsetting their fee accordingly.
As an aside, I wonder about the SL GARS fund. Is it now too big, I wonder?
Much inflow was provided and driven by IFA recommendations which, a few years ago, may have been good advice. But many IFAs too, put clients en masse into it when the sh#t hit the fan and I wonder if it's still the right approach.
I wonder too, if it shouldn't be segmented to make it easier to manage, to allow a more focused strategy and to be more flexible - the investment market today is a different landscape to what it was in 2008.
https://uskan.financialexpress.net/PDFCache/GBP-20...
Much inflow was provided and driven by IFA recommendations which, a few years ago, may have been good advice. But many IFAs too, put clients en masse into it when the sh#t hit the fan and I wonder if it's still the right approach.
I wonder too, if it shouldn't be segmented to make it easier to manage, to allow a more focused strategy and to be more flexible - the investment market today is a different landscape to what it was in 2008.
https://uskan.financialexpress.net/PDFCache/GBP-20...
Edited by Ginge R on Friday 20th December 15:36
The initial or trail fees should be declared by the IFA and yes, it appears that Invesco Perpetual are paying trail.
https://www.invescoperpetual.co.uk/portal/site/ip/...
https://www.invescoperpetual.co.uk/portal/site/ip/...
jfbrin said:
The initial or trail fees should be declared by the IFA and yes, it appears that Invesco Perpetual are paying trail.
https://www.invescoperpetual.co.uk/portal/site/ip/...
Not on advised business they won't be, which sounds like that relevant to the op. https://www.invescoperpetual.co.uk/portal/site/ip/...
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