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Financial Advisor vs. D.I.Y.

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Hi,

I have been using a financial advisor for about 18 months. He has invested, on my behalf, in a variety of direct shares and in managed funds. The portfolio has stayed the same for the last 8-10 months and I pay him 1.1% each month. I want to take over the portfolio myself but I don't know how to get control from the financial advisor. Can someone tell me the process please?

Thank you.
 
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Re: Financial Advisor vs D.I.Y.

The portfolio has stayed the same for the last 8-10 months

He's doing a good job!

and I pay him 1.1% each month
Holy crap :eek: is that 1.1% of total portfolio networth a month?

Anyways I assume the easiest way is to speak to him directly about it and let him shuffle the paperwork.
 
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Re: Financial Advisor vs D.I.Y.

Wow, if you portfolio has stayed the same for the past 8 months you're doing OK,

I’ve only had 2 experiences with financial advisers. My first experience was back when I was eighteen, I saw an adviser who put me into BT funds management with the proviso that we will do a review once a year, I didn’t here from him ever again although he was happy to take a piece every year, I got out of that one by selling out of the fund and investing in direct stocks.

My second experience was a few years ago, the accountant I deal with got tied up with a financial advice company so they were constantly pestering me about coming in for an assessment; I finally decided to check it out for a laugh. I got the financial once over and it was decided that I was doing OK, but I should be investing in managed funds in order to diversify further, the guy said we can do that on my next visit but what should do now is set up income protection insurance ASAP, anyway to cut a long story short I said thanks but no thanks see you later.
 

awg

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Re: Financial Advisor vs D.I.Y.

if he has maintained your portfolio at the same amount in shares and funds over the last 18 mths, he is working very hard for you and outperforming the market, by at least 25%.

is that after fees?

never heard of fees that high

but he will probably outperform over longer term, if yr figures are correct

although it begs the question why he wasnt in cash

unless he was protecting you from CGT

unless you really know what you are doing re shares, he is certain to outperform you based on what you have said.

cash will give very low rates over next 12mths

i would stay with him.

actually what u have said doesnt add up at all. as he would have to have been trading, long and short to be at breakeven with the market down 25%,
so CGT protection would not be in the equation.

u need to ask a lot of detailed questions i think, and then understand the answers, before u make a decision.

not advice, my opinion only
 

Glen48

Money can't buy Poverty
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Re: Financial Advisor vs D.I.Y.

Hello
Do you think you can do a better job and if why and what would you look at???
 

Whiskers

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Re: Financial Advisor vs D.I.Y.

Hi,

I have been using a financial advisor for about 18 months. He has invested, on my behalf, in a variety of direct shares and in managed funds. The portfolio has stayed the same for the last 8-10 months and I pay him 1.1% each month. I want to take over the portfolio myself but I don't know how to get control from the financial advisor. Can someone tell me the process please?

Thank you.

Have you proof of this or just his word?
 

Garpal Gumnut

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Re: Financial Advisor vs D.I.Y.

Hi,

I have been using a financial advisor for about 18 months. He has invested, on my behalf, in a variety of direct shares and in managed funds. The portfolio has stayed the same for the last 8-10 months and I pay him 1.1% each month. I want to take over the portfolio myself but I don't know how to get control from the financial advisor. Can someone tell me the process please?

Thank you.

Am I watching the Castle or is this "the vibe"

Show us the portfolio.

You are 11% down give or take a few percents on your fees.

I'd be keen to see the portfolio though.

Put it up.

gg
 

ROE

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Re: Financial Advisor vs D.I.Y.

Hi,

I have been using a financial advisor for about 18 months. He has invested, on my behalf, in a variety of direct shares and in managed funds. The portfolio has stayed the same for the last 8-10 months and I pay him 1.1% each month. I want to take over the portfolio myself but I don't know how to get control from the financial advisor. Can someone tell me the process please?

Thank you.

Hmm ... I smell fishy :) I bet you he has it all in cash and not equity :D
I ask to see your portfolio and what he has invested in and see some proof like your HIN with your name and Chess holding statement.

1.1% each month? this guy is robbing you blind, do you know stock average over long term return around 11% ? you paying 13% in fee... so you losing money in the long run.

get rid of him take control of your own money...something is very wrong here....
 
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