Intelligent Money - your investment questions answered
Discussion
sma said:
A question of where to start!
Not so much for me as I am a savings failure. More so for my children 6, 8 & 10 where is £100pm per child best placed for long term investing.
Also given that we overpay our mortgage, pay into our workplace pensions. How best should £500pm be invested/saved seeing as we still have 29 years until 67, although I'd like to retire earlier!
If push came to shove I have the contingency of selling our car(s) to meet any disaster, but have no accumulated savings.
Thanks for your time
You could also look at personal pensions for them. Not so much for me as I am a savings failure. More so for my children 6, 8 & 10 where is £100pm per child best placed for long term investing.
Also given that we overpay our mortgage, pay into our workplace pensions. How best should £500pm be invested/saved seeing as we still have 29 years until 67, although I'd like to retire earlier!
If push came to shove I have the contingency of selling our car(s) to meet any disaster, but have no accumulated savings.
Thanks for your time
You would only need to put in £80 and the Govt would top up to £100.
I just set one up for my latest grandson. 4 weeks old today.
Pros and cons either way.
Jockman said:
You could also look at personal pensions for them. You would only need to put in £80 and the Govt would top up to £100.
Pros and cons either way.
Smack on target. As always! Pros and cons either way.
With the potential for 50 years tax free cumulation it's definitely worth consideration.
I'm a big fan of "50% ISA / 50% SIPP" to get the combination of tax relief and flexibility.
I read through the marketing information for Private Clients on the IM website, to get a better understanding of your service. I see that earlier in the thread you mentioned that you can waive some fees for PH members, which is generous.
However, in the normal case, for a non-PH member, can you explain the "1.5% one off initial transaction charge" , as I found the wording a bit unclear ?
Is this a charge that applies only to the initial investment with IM, and all subsequent investments would be charge-free ? For example, if one were to invest £100,000 in year 1, and £900,000 in year two, would the 1.5% charge only be applied to the £100,000 ?
Or does the 1.5% charge apply "initially" to every investment that's made ? (this seems more likely to me).
However, in the normal case, for a non-PH member, can you explain the "1.5% one off initial transaction charge" , as I found the wording a bit unclear ?
Is this a charge that applies only to the initial investment with IM, and all subsequent investments would be charge-free ? For example, if one were to invest £100,000 in year 1, and £900,000 in year two, would the 1.5% charge only be applied to the £100,000 ?
Or does the 1.5% charge apply "initially" to every investment that's made ? (this seems more likely to me).
outnumbered said:
I read through the marketing information for Private Clients on the IM website, to get a better understanding of your service. I see that earlier in the thread you mentioned that you can waive some fees for PH members, which is generous.
However, in the normal case, for a non-PH member, can you explain the "1.5% one off initial transaction charge" , as I found the wording a bit unclear ?
Is this a charge that applies only to the initial investment with IM, and all subsequent investments would be charge-free ? For example, if one were to invest £100,000 in year 1, and £900,000 in year two, would the 1.5% charge only be applied to the £100,000 ?
Or does the 1.5% charge apply "initially" to every investment that's made ? (this seems more likely to me).
Hi and thanks for taking the time to look through our website.However, in the normal case, for a non-PH member, can you explain the "1.5% one off initial transaction charge" , as I found the wording a bit unclear ?
Is this a charge that applies only to the initial investment with IM, and all subsequent investments would be charge-free ? For example, if one were to invest £100,000 in year 1, and £900,000 in year two, would the 1.5% charge only be applied to the £100,000 ?
Or does the 1.5% charge apply "initially" to every investment that's made ? (this seems more likely to me).
Whilst our terms enable us to make the initial charge on every investment made, the commercial reality is that we don't do this once someone has become a Private Client.
Your example is quite close to reality with some clients who may transfer £100k of ISA funds to get a feel for us and the following year decide to move £900k of further ISA and pension assets.
We would waive the initial charge on this as they are an existing client and, quite frankly, it would be an obscene amount of money for the work involved.
I hope this fully answers your question. Our clients are very intelligent people and we treat them as such. They build up strong relationships with their account manager.
Equally, as well as discretion with charges we do the same with the minimum investment criteria. We very often have Private Clients with children or grandchildren and we allow them to open up accounts for small monthly contributions as we view them as simply being an extension of the main client.
Cheers
Julian
DonkeyApple said:
It’s very good to see a reputable firm like IM have the balls to run a thread like this and for the owner to be happy to answer questions.
Hello mate, thanks for that! I've always highly regarded your opinions here over the years.I realised it would be a risk (and feel a bit bad for chucking Nik in at the deep end!
) but I wanted to show the human side to an investment firm.I also figured you would have to be pretty uncharitable to try and start arguments with professionals giving their time for free to help people with often complex investment related questions, but this is PistonHeads, so I wasn't counting on it!
Cheers
Julian
outnumbered said:
I read through the marketing information for Private Clients on the IM website, to get a better understanding of your service. I see that earlier in the thread you mentioned that you can waive some fees for PH members, which is generous.
As we are getting deeper into this thread I thought it would be helpful to highlight the discounts you referred too.Any PHer wanting to use Intelligent Money Private Clients can enter the code PH2607 in the 'notes' box on the online application system to completely remove the 1.5% initial charge (and the minimum investment requirement).
This will probably fall flat, but to try and add a bit of fun to this thread there is a prize of £1,000 for the first person (who doesn't know me in the real world) who can say why the code is what it is.
Clue: It involves digging in PH Legendary Threads (https://www.pistonheads.com/gassing/topic.asp?h=0&f=210&t=395385)...
JulianPH said:
Right!!!
trowelhead beat selmahoose to it by exactly 4 minutes.
However, I will call that as being close enough, so you both win!
As the answer was kept quiet, I'll go for it again. £1,000 anyone?!!!
Nooooo, put that gin away!!trowelhead beat selmahoose to it by exactly 4 minutes.
However, I will call that as being close enough, so you both win!
As the answer was kept quiet, I'll go for it again. £1,000 anyone?!!!
I reckon I know it.. but I just couldn't take your money mate
Cheers
Hi Julian and co
My wife and I looked at using the services of a wealth management firm a year or so ago to deal with investments and tax matters but we decided to look after things ourselves for the time being as from reading posts on here and elsewhere I’ve been able to set up a nice portfolio to keep things going for the time being.
However we’ll need some help with that in the future and possibly advice on things like how best to pay for a change of house and possibly the purchase of a holiday home too. Is this the sort of thing you can help with, or do you just deal with investments and tax?
My wife and I looked at using the services of a wealth management firm a year or so ago to deal with investments and tax matters but we decided to look after things ourselves for the time being as from reading posts on here and elsewhere I’ve been able to set up a nice portfolio to keep things going for the time being.
However we’ll need some help with that in the future and possibly advice on things like how best to pay for a change of house and possibly the purchase of a holiday home too. Is this the sort of thing you can help with, or do you just deal with investments and tax?
Right...
selmahoose has elected to have the £1,000 paid to a charity in Orissa, North India. Money paid. Good man.
trowelhead also won - Waiting for details for payment.
Phooey - You know me you daft bugger (and were right)!!!
Unexpected Item - You're to late, but £500 will be with you as a consolation prize (you were 100% correct).
Ten £100 prizes to everyone else until this time tomorrow.
selmahoose has elected to have the £1,000 paid to a charity in Orissa, North India. Money paid. Good man.
trowelhead also won - Waiting for details for payment.
Phooey - You know me you daft bugger (and were right)!!!
Unexpected Item - You're to late, but £500 will be with you as a consolation prize (you were 100% correct).
Ten £100 prizes to everyone else until this time tomorrow.
Unexpected Item In The Bagging Area said:
Hi Julian and co
My wife and I looked at using the services of a wealth management firm a year or so ago to deal with investments and tax matters but we decided to look after things ourselves for the time being as from reading posts on here and elsewhere I’ve been able to set up a nice portfolio to keep things going for the time being.
However we’ll need some help with that in the future and possibly advice on things like how best to pay for a change of house and possibly the purchase of a holiday home too. Is this the sort of thing you can help with, or do you just deal with investments and tax?
Hi, we can't help with the actual purchase of the holiday home, but we can certainly help with the best way of funding it (or the deposit for it). My wife and I looked at using the services of a wealth management firm a year or so ago to deal with investments and tax matters but we decided to look after things ourselves for the time being as from reading posts on here and elsewhere I’ve been able to set up a nice portfolio to keep things going for the time being.
However we’ll need some help with that in the future and possibly advice on things like how best to pay for a change of house and possibly the purchase of a holiday home too. Is this the sort of thing you can help with, or do you just deal with investments and tax?
Having said this, I have had a property in Portugal and people in my team have experience with property ownership in France and Spain too, so could offer some guidance based upon actual experience.
We would not be a substitute for a local lawyer though, just a sounding board offering first hand experience. You would have to appoint a lawyer in the region you are seeking to purchase, this is essential. We may be able to recommend one for you.
Have a chat with Nik or PM me. We are happy to help or point you in the right direction.
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