Intelligent Money - your investment questions answered
Discussion
Lemming Train said:
JulianPH said:
Lemming Train said:
Who is this out of interest? A search hasn't turned up much although I note a member called JulianPH mentions Intelligent Money in nearly every other post so could it be him?
You cheeky sod!!!I've just done a search, touching 3,000 posts and I've mentioned Intelligent Money 13 times over the years!
I'll grant you. Are you the man behind this thread then, JulianPH ?Yes, it's me.
That is why there are special terms for fellow PHers (no initial charge and no minimum investment requirement). It is a mates rate thing.
One of our directors was mates with David Edmonston (back in the day) and was at his wedding to Alison. I have had great enjoyment out of PH and have been quite vocal and active over the (relatively recent) years since I registered. I've tried to be helpful on this forum and even managed to start a Legendary Thread!
I know many members off site and have made some great friends from here in the real world.
I suggested this sponsored thread as a way to further help what is mainly a great group of people (and I personally signed off the discount) whilst also helping support the site with sponsorship and advertising revenue. So this is a genuine 'ask and get answers' thread from a genuine PHer.
In fact, when I first talked with Haymarket I expressed an interest in buying PistonHeads. The CarGurus deal was (unknown to most) virtually a done deal at this point though. I hope they re-platform whilst keeping the spirit and identity of the site in the way I would have.
If the, ahem, more vocally disruptive element of PH want to have a bash then please direct this at me, rather than Nik and the team.
Cheers
Julian
Lemming Train said:
No issues here Julian - being the nosey b
d and inquisitive sort that I am I was just curious to know who the "popular PHer" running the show was.
I wish you all the best with the venture.
Cheers matey. The 'venture' is approaching 20 years of age and runs £2bn of asset, the only new part is opening it up here with the PH discount!d and inquisitive sort that I am I was just curious to know who the "popular PHer" running the show was.I wish you all the best with the venture.
Thanks for your sentiments though, much appreciated.
Julian
Ooooh, not long clocked this thread....
Probably a good idea tbh. The amount of free advice Julian gives out round here I can't blame him for formalising the arrangement.
I initiated our SiPPs move to IM a couple of months ago and I'm pleased with the way things are going.
The major attraction was the more 'relaxed' approach to Commercial Property adaptations as this does form a sizeable part of our portfolios.
A minor attraction was the reduction in fees.
I'm no pension expert but having run all sorts for our small family business, from EPPs to SSAS to PPs to SiPPs, I can usually get a feel for the future direction I want our investments to go.
IM facilitate this direction very well for us so a double thumbs up thus far.
Probably a good idea tbh. The amount of free advice Julian gives out round here I can't blame him for formalising the arrangement.
I initiated our SiPPs move to IM a couple of months ago and I'm pleased with the way things are going.
The major attraction was the more 'relaxed' approach to Commercial Property adaptations as this does form a sizeable part of our portfolios.
A minor attraction was the reduction in fees.
I'm no pension expert but having run all sorts for our small family business, from EPPs to SSAS to PPs to SiPPs, I can usually get a feel for the future direction I want our investments to go.
IM facilitate this direction very well for us so a double thumbs up thus far.
I believe I am the 'founding' direct private client on the Intelligent Money platform, having recently transferred my pension over to IM.
I would describe myself as fairly clueless on this subject about 3 months ago, was using a financial 'advisor' and paying around 1.5% in annual fees - didn't have much contact with this advisor and my fund wasn't growing at a rate I was happy with. I then got contacted by another firm who were offering great returns (in return for an even higher fee) which got me thinking about options.
Bit of basic maths revealed the eye watering cost of the 'advisor' and his recommended funds over future years leading to retirement.
JulianPH on here offered me a lot of advice on this area (and didn't at any time try to steer me to IM - it was me who made the link between him and IM) - I made the decision to switch mainly based on the lower fee and the ease of managing the fund allocation myself.
The switch was handled smoothly and quickly.
Highly recommended by me (and for any of you that (like me a few months ago) haven't worked out the annual costs of running your fund and how this compounds over the years - do it!).
I would describe myself as fairly clueless on this subject about 3 months ago, was using a financial 'advisor' and paying around 1.5% in annual fees - didn't have much contact with this advisor and my fund wasn't growing at a rate I was happy with. I then got contacted by another firm who were offering great returns (in return for an even higher fee) which got me thinking about options.
Bit of basic maths revealed the eye watering cost of the 'advisor' and his recommended funds over future years leading to retirement.
JulianPH on here offered me a lot of advice on this area (and didn't at any time try to steer me to IM - it was me who made the link between him and IM) - I made the decision to switch mainly based on the lower fee and the ease of managing the fund allocation myself.
The switch was handled smoothly and quickly.
Highly recommended by me (and for any of you that (like me a few months ago) haven't worked out the annual costs of running your fund and how this compounds over the years - do it!).
Edited by river_rat on Tuesday 15th January 17:29
Jockman said:
Ooooh, not long clocked this thread....
Probably a good idea tbh. The amount of free advice Julian gives out round here I can't blame him for formalising the arrangement.
I initiated our SiPPs move to IM a couple of months ago and I'm pleased with the way things are going.
The major attraction was the more 'relaxed' approach to Commercial Property adaptations as this does form a sizeable part of our portfolios.
A minor attraction was the reduction in fees.
I'm no pension expert but having run all sorts for our small family business, from EPPs to SSAS to PPs to SiPPs, I can usually get a feel for the future direction I want our investments to go.
IM facilitate this direction very well for us so a double thumbs up thus far.
Thanks for the positive feedback mate. Probably a good idea tbh. The amount of free advice Julian gives out round here I can't blame him for formalising the arrangement.
I initiated our SiPPs move to IM a couple of months ago and I'm pleased with the way things are going.
The major attraction was the more 'relaxed' approach to Commercial Property adaptations as this does form a sizeable part of our portfolios.
A minor attraction was the reduction in fees.
I'm no pension expert but having run all sorts for our small family business, from EPPs to SSAS to PPs to SiPPs, I can usually get a feel for the future direction I want our investments to go.
IM facilitate this direction very well for us so a double thumbs up thus far.
For anyone not understanding this, many SIPP providers insist you use their 'approved' contractors for any property developments. We don't (providing you have 3 independent quotes to show fair market value).
I would never suggest that the providers that insist on using their 'approved' contractors were getting any form of financial kick-back from this. That sort of practise would be unthinkable.
I am happy to help with any financial questions, this thread just adds other people who will do the same.
Cheers
Julian
river_rat said:
I believe I am the 'founding' direct private client on the Intelligent Money platform, having recently transferred my pension over to IM.
I would describe myself as fairly clueless on this subject about 3 months ago, was using a financial 'advisor' and paying around 1.5% in annual fees - didn't have much contact with this advisor and my fund wasn't growing at a rate I was happy with. I then got contacted by another firm who were offering great returns (in return for an even higher fee) which got me thinking about options.
Bit of basic maths revealed the eye watering cost of the 'advisor' and his recommended funds over future years leading to retirement.
JulianPH on here offered me a lot of advice on this area (and didn't at any time try to steer me to IM - it was me who made the link between him and IM) - I made the decision to switch mainly based on the lower fee and the ease of managing the fund allocation myself.
The switch was handled smoothly and quickly.
Highly recommended by me (and for any of you that (like me a few months ago) haven't worked out the annual costs of running your fund and how this compounds over the years - do it!).
Cheers mate, you were indeed the first Private Client after you (and your wonderful wife) gave feedback, you lucky man! I would describe myself as fairly clueless on this subject about 3 months ago, was using a financial 'advisor' and paying around 1.5% in annual fees - didn't have much contact with this advisor and my fund wasn't growing at a rate I was happy with. I then got contacted by another firm who were offering great returns (in return for an even higher fee) which got me thinking about options.
Bit of basic maths revealed the eye watering cost of the 'advisor' and his recommended funds over future years leading to retirement.
JulianPH on here offered me a lot of advice on this area (and didn't at any time try to steer me to IM - it was me who made the link between him and IM) - I made the decision to switch mainly based on the lower fee and the ease of managing the fund allocation myself.
The switch was handled smoothly and quickly.
Highly recommended by me (and for any of you that (like me a few months ago) haven't worked out the annual costs of running your fund and how this compounds over the years - do it!).
Edited by river_rat on Tuesday 15th January 17:29
Thank you (and your better half) for this. It seems like a long time ago now.
I really do appreciate your feedback. Not all companies are bad and inaccessible!
Cheers
Julian
Derek Chevalier said:
Lots of good things...
Thanks for doing so and thank you also for you phone call today.A healthy critique is always welcome. It helps people decide what is good for them or bad. I welcome it (although Nik had a bit of a baptism of fire!!!).
We would all be lesser well off if we didn't question things and so I thank you for your questions.
There is no doubt in my mind that Derek offers great financial advice and exceptional value for money. He, from my (25 years experience) is not remotely indicative of the vast majority of advisers.
If you want financial advice I would recommend him, just as if you wanted mortgage advice I would recommend Sarnie (hi Liam!).
We simply offer a non-advised investment solution. I don't like saying it is low cost (though it is) as that implies low quality. It is of the highest quality, though has a higher cost than doing it all yourself and a lower cost than an advised solution (as is natural).
As has been said, we are not trying to be all things to all people. Just providing a high value and low cost service for those who don't want to pay for advice, but equally don't want to do everything themselves.
Cheers
Julian
I’ve spent the last 2 years procrastinating my bundled DFM/IFA SIPP arrangement, struggling to see the value of the fees (DFM%, IFA% & OFC%) - minimum 7 years from crystilisation. I finally submitted my IM application today.
I came very close last May, but as with all things - when there is positive movement it’s easy to be complacent or content.
Having spoken to Nik, all the intrecies around the switch were clearly explained. For me personally, this is the perfect alternative to fully managed but not going so far as to self manage.
I came very close last May, but as with all things - when there is positive movement it’s easy to be complacent or content.
Having spoken to Nik, all the intrecies around the switch were clearly explained. For me personally, this is the perfect alternative to fully managed but not going so far as to self manage.
giles panizzi said:
I’ve spent the last 2 years procrastinating my bundled DFM/IFA SIPP arrangement, struggling to see the value of the fees (DFM%, IFA% & OFC%) - minimum 7 years from crystilisation. I finally submitted my IM application today.
I came very close last May, but as with all things - when there is positive movement it’s easy to be complacent or content.
Having spoken to Nik, all the intrecies around the switch were clearly explained. For me personally, this is the perfect alternative to fully managed but not going so far as to self manage.
Thank you for your feedback giles. It was good to speak to you yesterday and I'm glad we could help. I came very close last May, but as with all things - when there is positive movement it’s easy to be complacent or content.
Having spoken to Nik, all the intrecies around the switch were clearly explained. For me personally, this is the perfect alternative to fully managed but not going so far as to self manage.
Regards
Nik
Edited by Intelligent Money on Thursday 17th January 10:28
giles panizzi said:
I’ve spent the last 2 years procrastinating my bundled DFM/IFA SIPP arrangement, struggling to see the value of the fees (DFM%, IFA% & OFC%) - minimum 7 years from crystilisation. I finally submitted my IM application today.
I came very close last May, but as with all things - when there is positive movement it’s easy to be complacent or content.
Having spoken to Nik, all the intrecies around the switch were clearly explained. For me personally, this is the perfect alternative to fully managed but not going so far as to self manage.
Cheers mateI came very close last May, but as with all things - when there is positive movement it’s easy to be complacent or content.
Having spoken to Nik, all the intrecies around the switch were clearly explained. For me personally, this is the perfect alternative to fully managed but not going so far as to self manage.
I am glad you are happy, please continue the feedback next year (if you wish).
You hit the nail on the head when you compared the cost of an advised solution (good advisers such as Derek excluded) and a DIY solution. We offer full investment management and support without adviser or platform fees.
For some this will be unsuitable, for everyone else it could be ideal. We don't try and influence this personal choice, just inform people of their options.
Cheers
Julian
JulianPH said:
just as if you wanted mortgage advice I would recommend Sarnie (hi Liam!).
Thats much appreciated!! This area of the industry isn't my speciality but I can confirm that Julian is a stand up guy.......straight talking and honest.......as I would like to think that I am too..........no BS................all the best with this Julian
Sarnie said:
JulianPH said:
just as if you wanted mortgage advice I would recommend Sarnie (hi Liam!).
Thats much appreciated!! This area of the industry isn't my speciality but I can confirm that Julian is a stand up guy.......straight talking and honest.......as I would like to think that I am too..........no BS................all the best with this Julian
You certainly are too, as I and countless other PHers can vouch for.
It is approaching 20 years sine I launched IM and I have projected this ethos across the ever growing team over these years.
We have a simple mantra, do what you say you are going to do, do it properly and do it on time.
Up until now we have never once advertised and by word of mouth and personal referrals alone have grown to run £2bn of client asset. So we must be doing something right!
I have a question on pensions which I'm hoping you'll be able to answer.
I've received a 'yearly review of your pension plan' which has shown a 7% investment loss from last year. It's the smallest of 3 small pension policies I hold and I was thinking of transferring it to one of my better performing ones or taking the money out under the pension freedom rules.
Under the heading The transfer value of your plan - it says:-
This is the amount we would pay if you transfer your pension fund to another pension plan. It cannot be paid to you or to your financial adviser. When you take the benefits these would be paid in line with the rules of the new scheme or arrangement.
My question is - Why can't it be paid to me?
I thought the pension freedom rules meant you could (aged over 55) take the money out as long as you paid the correct tax on it.
I've received a 'yearly review of your pension plan' which has shown a 7% investment loss from last year. It's the smallest of 3 small pension policies I hold and I was thinking of transferring it to one of my better performing ones or taking the money out under the pension freedom rules.
Under the heading The transfer value of your plan - it says:-
This is the amount we would pay if you transfer your pension fund to another pension plan. It cannot be paid to you or to your financial adviser. When you take the benefits these would be paid in line with the rules of the new scheme or arrangement.
My question is - Why can't it be paid to me?
I thought the pension freedom rules meant you could (aged over 55) take the money out as long as you paid the correct tax on it.
condor said:
I have a question on pensions which I'm hoping you'll be able to answer.
I've received a 'yearly review of your pension plan' which has shown a 7% investment loss from last year. It's the smallest of 3 small pension policies I hold and I was thinking of transferring it to one of my better performing ones or taking the money out under the pension freedom rules.
Under the heading The transfer value of your plan - it says:-
This is the amount we would pay if you transfer your pension fund to another pension plan. It cannot be paid to you or to your financial adviser. When you take the benefits these would be paid in line with the rules of the new scheme or arrangement.
My question is - Why can't it be paid to me?
I thought the pension freedom rules meant you could (aged over 55) take the money out as long as you paid the correct tax on it.
Hi Condor, I've received a 'yearly review of your pension plan' which has shown a 7% investment loss from last year. It's the smallest of 3 small pension policies I hold and I was thinking of transferring it to one of my better performing ones or taking the money out under the pension freedom rules.
Under the heading The transfer value of your plan - it says:-
This is the amount we would pay if you transfer your pension fund to another pension plan. It cannot be paid to you or to your financial adviser. When you take the benefits these would be paid in line with the rules of the new scheme or arrangement.
My question is - Why can't it be paid to me?
I thought the pension freedom rules meant you could (aged over 55) take the money out as long as you paid the correct tax on it.
When Pension Freedoms were introduced the Government didn't mandate that all existing schemes had to change their scheme rules to include the new legislation. The concern was that it would be costly and difficult for some schemes, particularly additional voluntary contribution schemes, to implement the changes.
The introduction of "scheme rules override " allowed some schemes to offer the flexibility of pension freedoms without changing their scheme rules but it looks like your scheme has not adopted these.
Assuming this is the case and your scheme doesn't offer either Pension Freedoms or apply "scheme rules override" you would need to transfer to new scheme to access your fund.
As you have said you could transfer this into one of your other schemes, but make sure that this scheme offers the flexibility you are looking for. Alternatively you could consolidate all your plans into one scheme with a provider of your choice that does offer flexibility. (Our Pension's do offer full flexibility!)
Regards
Nik
samsock said:
Julian, I'm wondering if you offer a service for a Ltd company cash reserves?
Hi samsockWe don't I am afraid. You would need a deposit taker, we are an investment manager.
We offer a very defensive portfolio which aims to beat cash returns at the lowest level of risk, but this is not the same as a cash deposit account.
This link may be helpful for you: https://www.investmentsense.co.uk/best-buy-savings...
Cheers
Julian
Intelligent Money said:
Now, is it possible that tomorrow someone could ask me an investment or IM related question so I can justify continuing being paid to sit here answering them!!!
Since it's "double time" at the weekend your guidance is presumably even more valuable than during the week!One of the things I've never full grasped (it was raised on here by someone else a few days ago) is the way tax works on funds held in an ordinary investment account. i.e. Not SIPP and not ISA.
If you buy Inc units and receive the income it's clearly income taxable. The only "funny" to take into account if and when you sell is any initial Equalisation which might cause an adjustment of the original purchase price.
On the other hand if you hold Inc and set the platform for automatic reinvestment you are going to end up with a CGT situation that's all over the place. How is this dealt with in reality, because if I've understood correctly HMRC expect every tiny purchase to be separately calculated for CGT? Do people have to try to work this out by hand or does a decent platform track all the detail as a matter of course so all you need to do is ask for a "printout"?
If you hold Acc units you might expect all growth to be Capital Gain (not Income) but this doesn't always seem to be the case, with some "non-cash income" turning up on the end of year tax statement. Again, how is this handled in reality when you eventually sell the investment and need to address CGT?
...and does re-registering off one platform onto another send the whole thing into meltdown?
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