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Investment/Asset Management (HELP!)
D Seth
Posted: 18 December 2012 22:38:17(UTC)

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Dear forum members,

I have a fairly large amount of money (pension fund) to invest >750k.

I have had a meeting with a representative from Fisher Investments, who seems to be very keen on equities being the way forward. I would like to keep the money fairly liquid as well as beat inflation and also achieve growth, and also eventually take an income from the investment. I do understand these are fairly standard goals!

However, I am not well educated on investment opportunities and therefore would like your help.

Aside from Fisher Investment, what other firms should I look in to? A list would be greatly appreciated.
Also if anyone has any experience of dealing with Fisher Investments, please do post your finding as that would be ideal.


Posted: 19 December 2012 11:58:51(UTC)

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I believe Fisher will only invest your money in their products - is that wise?
If you have to put your money in the hands of someone else, I would look around.
Sorry I can't make any recommendations.
I would also suggest you make absolutely sure you compare and understand how the charges and fees will be levied and how much this equates to in real money per annum - the long term effect might be an eye-opener and if it was me I would be asking 'how much are you going to receive from my investments this year, next year etc?'
Good luck - it's a lot of money and people will be keen to sign you up.
If you don't go with Fisher you might find that they find it hard to let go?
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D Seth on 19/12/2012(UTC)
D Seth
Posted: 19 December 2012 12:39:56(UTC)

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Thank you TJL!

I have had 2 meetings thus far. In the 3rd meeting they will talk me through exactly what they propose to do with the funds. I will pose questions to them at that point, regarding fees etc.

Only time will tell with their response if I do decide to reject their offer.

Again, your advice is much appreciated!

Would really like to have more opinions though and/or recommendations. So any help is greatly appreciated!

Andy Mackay
Posted: 19 December 2012 16:00:30(UTC)

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Hi, in my view and for that sum of money you need transparency of charging, low running costs and a geographically diversified portfolio which is regularly re-balanced- certainly not all equity-based. In essence an investment style that will put more of the returns into your pocket rather than a fund manager.

Also, as for liquidity you certainly don't want any 'early exit penalties'.

Inheritance tax planning may also need some consideration.

It's difficult to comment further as I don't know your particular circumstances.
2 users thanked Andy Mackay for this post.
Stephen Garsed on 19/12/2012(UTC), D Seth on 19/12/2012(UTC)
graham P
Posted: 19 December 2012 20:30:43(UTC)

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Regarding Fisher Investments I to have had several meetings with them after answering adverts .

Although very professional and product well explained they charge 1.5% initial charge plus 1.5%AMC on your portfolio this adds up to serious money.

When I hesitated because of the initial fee I had a phone call from America with a offer of 1% initial charge which was withdrawn when I asked longer to think about it.

Fisher are not based in this country but the states, they will give you plenty of data how they have performed against the MSCI. 5.3% FISHER 8.2% 1995 TO 2011.

I learnt quite a lot talking to the rep and reading the literature supplied but decided to do my own thing, only have my self to blame if things go wrong.

My portfolio had been managed by Lloyds previously (big mistake) I have moved from them and started using Fidelity and Best Invest plus Fundsmith (like his investment philosophy).

All these wealth managers want initial charges I think these are a thing of the past, how many of them actually beat passive funds over time once you take out all the charges?.

Wish you well.

3 users thanked graham P for this post.
D Seth on 19/12/2012(UTC), Clive B on 30/01/2013(UTC), Stephen Garsed on 31/01/2013(UTC)
J Thomas
Posted: 19 December 2012 21:29:52(UTC)

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I agree with graham, initial and trail charges are a thing of the past, and good riddance too they have fleeced the private investor for over fifty years.
Consider Standard life MyFolio SIPPS, you can transfer directly with no initial or trail fees.
The AMC is 0.9% for large fund values over £500,000, which I think is acceptable for an average return of 12%.
With no IFA involvement it really is astonishing the superior return on your Capital.
2 users thanked J Thomas for this post.
D Seth on 19/12/2012(UTC), Stephen Garsed on 31/01/2013(UTC)
D Seth
Posted: 19 December 2012 22:47:58(UTC)

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Many thanks Andy, Graham and J Thomas. Invaluable advice!

Graham those figures of MSCI 5.3% vs Fisher 8.2% were constantly thrown at me.

J Thomas I will look into Standard life MyFolio SIPPS, they do sound like a better option than Fisher.

If anyone else has any other tips or recommendations of better firms, I would be grateful!

Dan Jones
Posted: 28 January 2013 22:31:42(UTC)

Joined: 28/01/2013(UTC)
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I do not know if this helps but isn't it wise to split your investment with different firms rather than putting all eggs in one basket?

I know friends who have done so and when one fund is not performing so well, the other one's can balance things out.
Posted: 29 January 2013 12:23:49(UTC)

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If you are putting 750k into one basket (Fisher or anyone else) what guaranteed coverage do they have under the UK (or other) financial compensation scheme? Who actually holds your investments in their name or nominees? You - or them?

After the scare of 2008 I would never, never put more than about 80-100k in any one institution.
Michael French
Posted: 30 January 2013 17:28:00(UTC)

Joined: 16/04/2012(UTC)
Posts: 1

Regarding Fisher Investments I can advise you that a friend has been invested with Fisher for approx three years and has not found results satisfactory. He is now changing his investments to Fidelity. Hope this is of interest.
Posted: 30 January 2013 19:46:36(UTC)

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Those charges seem very high.

Why not speak to Hargreaves Lansdowne?

In any case they wont have any magic answers. They will just invest in the funds etc that you can choose yourself, and all the information you could want is on the internet in Citywire and other sites. They will dip their bread in your gravy until you are licked clean.

In my non qualified, non financial experience, my view of all these firms is that
they are leeches.

Up front money and high charges PLUS the fund charges is just peeing money up the wall, whilst the advisory firm is standing behind you peeing up your leg and laughing. Keep that image in your mind for your next meeting perhaps?

Some good advice on this page I think.

Posted: 31 January 2013 09:44:28(UTC)

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I am a self investor and do not use an advisor but if I was to consider help it would be with either:-

!) Hargreaves Lansdown they have already been suggested above - a well known company and I would have confidnce in them being around for some time.

2) Equilibrium asset management who are based in Cheshire. They write articles on Citywires web site and also produce a monthly newsletter. They seem one of the brighter operators in the advice market.
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Guest on 31/01/2013(UTC)
philip gosling
Posted: 31 January 2013 18:16:54(UTC)

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D Seth
I am afraid I do not agree that you can achieve your goals without taking the risk involved with investing in the stock market /property- - "I would like to keep the money"
Fairly liquid
Beat Inflation
Achieve Growth
Take Income

Stock markets do go up and down and one only has to realise that the UK is still 10% off its peak of 10 years ago and Japan is still 70% off its peak of 20 years ago.

With a bank rate of 0.5% and inflation of around 3% in UK putting the money in a bank (ie. liquid) will not match inflation over long term never mind tax. Bonds everyone says are too high and once Quantative Easing stops so will they. Shares have rocketed up in past month so are due a small correction.

If you have never invested money in shares and or bonds a do it yourself approach is doomed to cause worry and probable failure - you should not start investing as a first timer with £750k.

I would split it into 3 parts of £250,000

1. Buy a flat in London, or Oxford or Manchester or Leeds (big city with lots of professionals and studenst wanting to rent. Pay an agent their 15-17% and use the income after tax to provide you with yours Income and look for increase growth in the flat's value. Do not by a cheap and nasty lace because it will not go up in value - buy one a Phd Student or young professional would want near the centre of town.

2. Go to a company like Best Invest (they use Fidelity's co funds for investments) and get them to look after your £250 k - OK they charge but if they don't beat an agreed benchmark over 5 years then move to somone esle later.

3. Buy with the last 250 K - £30,000 worth of premium bonds for yourself, your partner, your mother, your brother, sister, cousin, your dog (joke). If you are married or have a partner /children make sure you buy insurance to look after them if something happens to you ( a sign falling on your head ora heleicopter falling out of the sky) and then put the rest into bank/building society accounts but not more than £85,000 in a\ny one. Drip feed money you don't need to keep Liquid in the bank into bonds through a specialist bond dealer.

Good luck I wish I had your problem

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