Attention: Please take a moment to consider our terms and conditions before posting.
Savings and Investments thread
Comments
-
I don't see savings rates going up anytime soon, so as it's only a year why not. But at 2% for the best paying it's not making much.Arsenetatters said:Is now a good time to put money in a fixed rate savings account for one year?1 -
https://www.moneysavingexpert.com/savings/savings-accounts-best-interest/#fixedsavingsArsenetatters said:Is now a good time to put money in a fixed rate savings account for one year?
1 -
Thank you. Charter savings looks ok to me.Covered End said:
https://www.moneysavingexpert.com/savings/savings-accounts-best-interest/#fixedsavingsArsenetatters said:Is now a good time to put money in a fixed rate savings account for one year?0 -
I've never used them, but your money would be FSCS protected, so no risk, which is important.1
-
Stock market falls over last few days. Are we entering a bear market? Is it now time to take some profits and go liquid??0
-
No, sit tight & all will rectify itself soon. Look at last year. By the end of the year world stock markets had lost between 10% -20%. That had all been made up & more by July this year. If you had come out of the market early part of this year when, on seeing your end of year statements, you decided to take your losses then you'd be looking pretty foolish.HardyAddick said:Stock market falls over last few days. Are we entering a bear market? Is it now time to take some profits and go liquid??
Most of the recent falls is Trumps escalation of his trade war with China. Nothing to do with slowdowns, either here or in the US.
Keep in the market & things will right themselves soon.2 -
I usually sit tight and am not bothered about short term up and downs. I put more money in the market at the beginning of the year which was a good move but I feel that a correction is coming. It’s just a question of when.
I think I read we are in the longest bull market ever but all things come to and end.0 -
I agree, even if "nothing to do with" is IMO not sufficiently balanced a view, and a lot of analysts think there is further to go, down that is.golfaddick said:
No, sit tight & all will rectify itself soon. Look at last year. By the end of the year world stock markets had lost between 10% -20%. That had all been made up & more by July this year. If you had come out of the market early part of this year when, on seeing your end of year statements, you decided to take your losses then you'd be looking pretty foolish.HardyAddick said:Stock market falls over last few days. Are we entering a bear market? Is it now time to take some profits and go liquid??
Most of the recent falls is Trumps escalation of his trade war with China. Nothing to do with slowdowns, either here or in the US.
Keep in the market & things will right themselves soon.
Not sanguine about the pound at all. History tells us that when the pound falls for fundamental reasons, it never gets back to former "glory". Kicking myself now for not moving more cash reserves out here. Imagine that, the Czech koruna, a safe fucking haven.0 -
For the record SJP have never recommended this fund, yet no doubt all the holier-than-thou IFA’s will be re-writing history. Woodford managed one of SJP’s Funds for which there was far greater oversight and as such only a 25% overlap in underlying investments. Woodford was removed as the fund manager and the fund was not and will not be suspended. Sadly the crusade against SJP means that the facts no longer matter, so long as the editors have easy content to meet deadlines.newyorkaddick said:PragueAddick said:
They should discuss themselves. While I totally own my decision to invest in Woodford, I was certainly influenced by their constant banging of the drum for him even while more and more people were asking questions. Their entire Wealth 50/150 thing stinks, since they only give you easy access to detailed info on those funds, and slyly imply that all others are not necessarily dogs. As several people in the FT comment today, they never had the Fundsmith fund among their reccos and the only reason is clearly that Terry Smith would not give them the volume discounts they demand. So I hope H-L get the kicking they deserve, and mend their own ways a bit. Of course the fact that Peter Hargreaves stuck £17m into the Brexit referendum campaign has nothing to do with my antipathy :-).swords_alive said:H-L coming on radio 4 very shortly to discuss Woodford. (Notification only)
But I read that St James Place have even more blood on their hands than H-L on this one...I would expect a major regulatory investigation will be launched to look into amongst other things whether:
a) Woodford breached the terms of the fund prospectus by investing to such a material degree in less liquid/private investments; and/or
b) whether fiduciaries like HL and SJP breached their duty to investors by continuing to recommend the fund after information came to light which rendered any ongoing recommendation inappropriate.
I'd be curious to know how much of his own net worth Woodford personally had invested in the funds, the most important question any investor should ask and know the answer to.
1 -
Not true, he would have likely recommended a portfolio including a fund that Woodford previously managed, but it was not the same fund and had only a 25% overlap of underlying investments, nor was it ever suspended.Athletico Charlton said:I came within a whisker of signing with SJP in March and that chap mentioned this fund. Would have been my first real investments after being nervous for years. Bullet dodged!0 - Sponsored links:
-
I want to try building a small portfolio. I mean small too, without anyone saying ISA or any of the basic saving schemes can any of you financial Buccaneers tell me how I'd be able to invest say 25 to 50 quid a month or entrust that money to someone. Or of o could do it myself, whenever I've bought shares before I have done it direct through whoever I have invested in
I will accept the answer "buy premium bonds" however I have no idea what my registration number is or how to get it0 -
Showmetheway2gohome said:I’ve been in my company pension with prudential for over 25 years and this year for some reason. They have decided it is out of date and froze it. Then started up a new company pension for my company. I was wondering if it would be better to move the frozen pension fund into the new scheme if possible I’m 51 so got what another 17 years any advice.
Thanks in advance 👍🍺Too little information to go on I'm afraid. Is it a DC (contribution) or DB (final salary) scheme. Sounds like the former but as I said, too little info to go on.
Fund size ?
fund(s) invested ?
Guarantees ?
You need to speak to an IFA....
0 -
Leave as is.
Diversification is the key - as one sound IFA told me.
0 -
You used to be able to do a regular savings plan with most Investment houses, which would have been into a unit trust (now OEIC) fund. Obviously ISA's have now superseded them & the premiums you mentioned may be a bit on the low side. Also platforms have now become the norm & a lot of insurance companies that would do a regular saver have disbanded them due to the cost.Carter said:I want to try building a small portfolio. I mean small too, without anyone saying ISA or any of the basic saving schemes can any of you financial Buccaneers tell me how I'd be able to invest say 25 to 50 quid a month or entrust that money to someone. Or of o could do it myself, whenever I've bought shares before I have done it direct through whoever I have invested in
I will accept the answer "buy premium bonds" however I have no idea what my registration number is or how to get it
1 -
With profits is very old hat.....and very Prudential (I worked for them from 1991 until 2000). Wont lose you any money but the returns are quite low....probably around 3%-4% pa, but depends if you are in their traditional with-profits, their unitised with profits, or their Prufund plan.
What you do with the £108.5k find is really down to your attitude to risk. It might do better (probably will) going into the new scheme - but depends on what fund choice you have. Sounds like you are in a typical "lifestyle" set up where you are de-risked the closer you get to retirement. That used to be ok if you were going to buy an annuity when you retired, but now that a lot of people stay invested & go into drawdown it might not be the best option....but it might be for you.
The other option is that you transfer it to a completely new pension provider (of your choice) where you can decide (with help from your friendly financial advisor) where it is invested & for how long. You may want a different investment strategy & retirement date for those funds as you can now take them from age 55.
One thing I love about my job is that everyone is different. You will have your own plans & ideas for your money & your retirement, and just because you work colleagues might choose a particular course of action doesnt mean you should - or that it's right or wrong. Financial advice is personal & you should have a plan that's right for you.2 -
I’m in the dispute resolution game and have noted in recent years the increased number of enquiries that are arising in commercial litigation from chancer type potential clients who want representation on a no win no fee basis . Big risk with that as you are banking on the client coming up to proof at trial 1 to 2 years down the line and the judge not considering him / her to be a complete clown , no documents affecting liability or quantum coming out in disclosure that would change the prospects completely and the judge not being a complete clot and cocking up the law / facts after the trial process alternatively someone with deep pockets on the other side who might try to out money you in a war of costs attrition to judgment . These are just a few of the perils of that type of litigation . Are there any comparable investment / savings schemes out there in equities / future trading ? A “ no yield no fee “ type arrangements so that the person who sells you the investment doesn’t get paid anything unless it increases in value ? Really interested in that and comparison to the lawyer contemplating a client who wants you to “ put your money where ya mouth is mate “ who doesn’t realise the gamble that you are having to take on him / her to get paid whilst funding the overheads of your law practice . The people that I deal with either as clients who I have to defend or acquaintances are generally useless bottom feeder “ Tribal Traders “ chasing one big commission or the other somewhere in the Canary Wharf or “ Guaranteed Bonus Goons “ who sign up to US Banks or US hedge funds who will pay them the most they can wangle and who have no understanding of eg MIFID or what they are suppose to be selling until they get moved on in the latest round of redundancies implemented by Head Office in NYK ,Boston or Chicago . Financial services cannot be made up completely by these types of idiots masquerading as “ Masters of the Universe “ . But can anyone recommend anything and who I can trust “ if they told me that it was raining “?! Thanks
0 -
Que....??ashley said:I’m in the dispute resolution game and have noted in recent years the increased number of enquiries that are arising in commercial litigation from chancer type potential clients who want representation on a no win no fee basis . Big risk with that as you are banking on the client coming up to proof at trial 1 to 2 years down the line and the judge not considering him / her to be a complete clown , no documents affecting liability or quantum coming out in disclosure that would change the prospects completely and the judge not being a complete clot and cocking up the law / facts after the trial process alternatively someone with deep pockets on the other side who might try to out money you in a war of costs attrition to judgment . These are just a few of the perils of that type of litigation . Are there any comparable investment / savings schemes out there in equities / future trading ? A “ no yield no fee “ type arrangements so that the person who sells you the investment doesn’t get paid anything unless it increases in value ? Really interested in that and comparison to the lawyer contemplating a client who wants you to “ put your money where ya mouth is mate “ who doesn’t realise the gamble that you are having to take on him / her to get paid whilst funding the overheads of your law practice . The people that I deal with either as clients who I have to defend or acquaintances are generally useless bottom feeder “ Tribal Traders “ chasing one big commission or the other somewhere in the Canary Wharf or “ Guaranteed Bonus Goons “ who sign up to US Banks or US hedge funds who will pay them the most they can wangle and who have no understanding of eg MIFID or what they are suppose to be selling until they get moved on in the latest round of redundancies implemented by Head Office in NYK ,Boston or Chicago . Financial services cannot be made up completely by these types of idiots masquerading as “ Masters of the Universe “ . But can anyone recommend anything and who I can trust “ if they told me that it was raining “?! Thanks2 -
(Puts shoe to ear ) hello ... can you recommend anything ?? No yield no fee - you don’t get paid unless the investment increases in value . ???golfaddick said:
Que....??ashley said:I’m in the dispute resolution game and have noted in recent years the increased number of enquiries that are arising in commercial litigation from chancer type potential clients who want representation on a no win no fee basis . Big risk with that as you are banking on the client coming up to proof at trial 1 to 2 years down the line and the judge not considering him / her to be a complete clown , no documents affecting liability or quantum coming out in disclosure that would change the prospects completely and the judge not being a complete clot and cocking up the law / facts after the trial process alternatively someone with deep pockets on the other side who might try to out money you in a war of costs attrition to judgment . These are just a few of the perils of that type of litigation . Are there any comparable investment / savings schemes out there in equities / future trading ? A “ no yield no fee “ type arrangements so that the person who sells you the investment doesn’t get paid anything unless it increases in value ? Really interested in that and comparison to the lawyer contemplating a client who wants you to “ put your money where ya mouth is mate “ who doesn’t realise the gamble that you are having to take on him / her to get paid whilst funding the overheads of your law practice . The people that I deal with either as clients who I have to defend or acquaintances are generally useless bottom feeder “ Tribal Traders “ chasing one big commission or the other somewhere in the Canary Wharf or “ Guaranteed Bonus Goons “ who sign up to US Banks or US hedge funds who will pay them the most they can wangle and who have no understanding of eg MIFID or what they are suppose to be selling until they get moved on in the latest round of redundancies implemented by Head Office in NYK ,Boston or Chicago . Financial services cannot be made up completely by these types of idiots masquerading as “ Masters of the Universe “ . But can anyone recommend anything and who I can trust “ if they told me that it was raining “?! Thanks2 -
You'd be better off consolidating the 2 old schemes into a?new one away from your employer's scheme. You have so much more control then as well as economies of scale with regard to charges.Showmetheway2gohome said:Thanks golfaddict I wouldn’t really know where to start looking for another provider and which investments to go for. I have got another company pension frozen from about 25 years ago from a previous company I worked for that’s with aviva was Norwich union when I started it and I’ve just left that to grow and never got round to transferring it
I never seem to get time to get round to doing it. Think I’ll transfer this prudential fund into there new scheme though.
Thanks again for advice all the best 👊🏻🍺👍
If you are in Se London / Kent then PM me. Think you really need to sit down with an advisor to help you through the maze.0 -
So what happens when trump go to (trade) war with China & the markets fall 15% like they did the latter part of last year (and the start of this week). I can make recommendations as to the better funds to invest in, or which asset classes to be in....but I cant read minds or 2nd guess the market.ashley said:
(Puts shoe to ear ) hello ... can you recommend anything ?? No yield no fee - you don’t get paid unless the investment increases in value . ???golfaddick said:
Que....??ashley said:I’m in the dispute resolution game and have noted in recent years the increased number of enquiries that are arising in commercial litigation from chancer type potential clients who want representation on a no win no fee basis . Big risk with that as you are banking on the client coming up to proof at trial 1 to 2 years down the line and the judge not considering him / her to be a complete clown , no documents affecting liability or quantum coming out in disclosure that would change the prospects completely and the judge not being a complete clot and cocking up the law / facts after the trial process alternatively someone with deep pockets on the other side who might try to out money you in a war of costs attrition to judgment . These are just a few of the perils of that type of litigation . Are there any comparable investment / savings schemes out there in equities / future trading ? A “ no yield no fee “ type arrangements so that the person who sells you the investment doesn’t get paid anything unless it increases in value ? Really interested in that and comparison to the lawyer contemplating a client who wants you to “ put your money where ya mouth is mate “ who doesn’t realise the gamble that you are having to take on him / her to get paid whilst funding the overheads of your law practice . The people that I deal with either as clients who I have to defend or acquaintances are generally useless bottom feeder “ Tribal Traders “ chasing one big commission or the other somewhere in the Canary Wharf or “ Guaranteed Bonus Goons “ who sign up to US Banks or US hedge funds who will pay them the most they can wangle and who have no understanding of eg MIFID or what they are suppose to be selling until they get moved on in the latest round of redundancies implemented by Head Office in NYK ,Boston or Chicago . Financial services cannot be made up completely by these types of idiots masquerading as “ Masters of the Universe “ . But can anyone recommend anything and who I can trust “ if they told me that it was raining “?! Thanks2 - Sponsored links:
-
For those of us not now in London /SE, how do we find a good independent pensions advisor Golfie?0
-
Usually by asking friends / relatives who they use. I usually get any new clients by referrals.HardyAddick said:For those of us not now in London /SE, how do we find a good independent pensions advisor Golfie?1 -
Is there a website that helps you locate independent pensions specialists?0
-
https://www.unbiased.co.uk/HardyAddick said:Is there a website that helps you locate independent pensions specialists?
1 -
Thanks for your insight . You have helped if not with any “ no yield no fee “ investments but in particular with the sort of lines that as a lawyer I should be using in future when approached by people asking for “ no win no fee” litigation.golfaddick said:
So what happens when trump go to (trade) war with China & the markets fall 15% like they did the latter part of last year (and the start of this week). I can make recommendations as to the better funds to invest in, or which asset classes to be in....but I cant read minds or 2nd guess the market.ashley said:
(Puts shoe to ear ) hello ... can you recommend anything ?? No yield no fee - you don’t get paid unless the investment increases in value . ???golfaddick said:
Que....??ashley said:I’m in the dispute resolution game and have noted in recent years the increased number of enquiries that are arising in commercial litigation from chancer type potential clients who want representation on a no win no fee basis . Big risk with that as you are banking on the client coming up to proof at trial 1 to 2 years down the line and the judge not considering him / her to be a complete clown , no documents affecting liability or quantum coming out in disclosure that would change the prospects completely and the judge not being a complete clot and cocking up the law / facts after the trial process alternatively someone with deep pockets on the other side who might try to out money you in a war of costs attrition to judgment . These are just a few of the perils of that type of litigation . Are there any comparable investment / savings schemes out there in equities / future trading ? A “ no yield no fee “ type arrangements so that the person who sells you the investment doesn’t get paid anything unless it increases in value ? Really interested in that and comparison to the lawyer contemplating a client who wants you to “ put your money where ya mouth is mate “ who doesn’t realise the gamble that you are having to take on him / her to get paid whilst funding the overheads of your law practice . The people that I deal with either as clients who I have to defend or acquaintances are generally useless bottom feeder “ Tribal Traders “ chasing one big commission or the other somewhere in the Canary Wharf or “ Guaranteed Bonus Goons “ who sign up to US Banks or US hedge funds who will pay them the most they can wangle and who have no understanding of eg MIFID or what they are suppose to be selling until they get moved on in the latest round of redundancies implemented by Head Office in NYK ,Boston or Chicago . Financial services cannot be made up completely by these types of idiots masquerading as “ Masters of the Universe “ . But can anyone recommend anything and who I can trust “ if they told me that it was raining “?! Thanks1 -
On a variation of a theme.......I started off as a financial advisor by working for the Prudential in their "home service" division......aka an insurance salesman. Basic salary of (then) c 15k pa with commission on top. 28 years later (19 as an IFA) I will still see clients for an initial meeting with no mention of a fee. Fees will generally then be discussed if we decide to move forward & I feel that I can help. I'm happy with a no help, no fee basis & feel that you have to speculate to accumulate. Nothing is ever lost going to see a client for nothing.ashley said:
Thanks for your insight . You have helped if not with any “ no yield no fee “ investments but in particular with the sort of lines that as a lawyer I should be using in future when approached by people asking for “ no win no fee” litigation.golfaddick said:
So what happens when trump go to (trade) war with China & the markets fall 15% like they did the latter part of last year (and the start of this week). I can make recommendations as to the better funds to invest in, or which asset classes to be in....but I cant read minds or 2nd guess the market.ashley said:
(Puts shoe to ear ) hello ... can you recommend anything ?? No yield no fee - you don’t get paid unless the investment increases in value . ???golfaddick said:
Que....??ashley said:I’m in the dispute resolution game and have noted in recent years the increased number of enquiries that are arising in commercial litigation from chancer type potential clients who want representation on a no win no fee basis . Big risk with that as you are banking on the client coming up to proof at trial 1 to 2 years down the line and the judge not considering him / her to be a complete clown , no documents affecting liability or quantum coming out in disclosure that would change the prospects completely and the judge not being a complete clot and cocking up the law / facts after the trial process alternatively someone with deep pockets on the other side who might try to out money you in a war of costs attrition to judgment . These are just a few of the perils of that type of litigation . Are there any comparable investment / savings schemes out there in equities / future trading ? A “ no yield no fee “ type arrangements so that the person who sells you the investment doesn’t get paid anything unless it increases in value ? Really interested in that and comparison to the lawyer contemplating a client who wants you to “ put your money where ya mouth is mate “ who doesn’t realise the gamble that you are having to take on him / her to get paid whilst funding the overheads of your law practice . The people that I deal with either as clients who I have to defend or acquaintances are generally useless bottom feeder “ Tribal Traders “ chasing one big commission or the other somewhere in the Canary Wharf or “ Guaranteed Bonus Goons “ who sign up to US Banks or US hedge funds who will pay them the most they can wangle and who have no understanding of eg MIFID or what they are suppose to be selling until they get moved on in the latest round of redundancies implemented by Head Office in NYK ,Boston or Chicago . Financial services cannot be made up completely by these types of idiots masquerading as “ Masters of the Universe “ . But can anyone recommend anything and who I can trust “ if they told me that it was raining “?! Thanks
1 -
Igolfaddick said:
I too see clients for an initial meeting without charge and having been a litigator for over 25 years mostly quite successfully . I agree with the concept of throwing bread on the water / speculation to see what that it might lead to . I think that where we differ however is that you are not prepared to enter into arrangements where as a financial advisor you get paid only if the investment yields whereas I will do no win no fee litigation if I believe in the case , it’s financial and legal merit and I think that the client / any other witness is not likely to be viewed by the judge as a complete clown . Interesting that you have not been able to mention a single no yield no fee type investment despite your years of experience in your field . Post 2008 in particular I would think that the time is ripe for a massive shake up in the financial services industry and in particular with respect to payment for so called expert advice just as has happened in litigation where for centuries the law did not recognise “Champerty and Maintenance “ type arrangements.Think of the money that could be made on successful “ no yield no fee type “ investments with arrangements allowing a mark up on fees if the advisor gets it right . Think instead of Woodford etc if he or she gets it wrong and gets paid nothing in consequence .
On a variation of a theme.......I started off as a financial advisor by working for the Prudential in their "home service" division......aka an insurance salesman. Basic salary of (then) c 15k pa with commission on top. 28 years later (19 as an IFA) I will still see clients for an initial meeting with no mention of a fee. Fees will generally then be discussed if we decide to move forward & I feel that I can help. I'm happy with a no help, no fee basis & feel that you have to speculate to accumulate. Nothing is ever lost going to see a client for nothing.ashley said:
Thanks for your insight . You have helped if not with any “ no yield no fee “ investments but in particular with the sort of lines that as a lawyer I should be using in future when approached by people asking for “ no win no fee” litigation.golfaddick said:
So what happens when trump go to (trade) war with China & the markets fall 15% like they did the latter part of last year (and the start of this week). I can make recommendations as to the better funds to invest in, or which asset classes to be in....but I cant read minds or 2nd guess the market.ashley said:
(Puts shoe to ear ) hello ... can you recommend anything ?? No yield no fee - you don’t get paid unless the investment increases in value . ???golfaddick said:
Que....??ashley said:I’m in the dispute resolution game and have noted in recent years the increased number of enquiries that are arising in commercial litigation from chancer type potential clients who want representation on a no win no fee basis . Big risk with that as you are banking on the client coming up to proof at trial 1 to 2 years down the line and the judge not considering him / her to be a complete clown , no documents affecting liability or quantum coming out in disclosure that would change the prospects completely and the judge not being a complete clot and cocking up the law / facts after the trial process alternatively someone with deep pockets on the other side who might try to out money you in a war of costs attrition to judgment . These are just a few of the perils of that type of litigation . Are there any comparable investment / savings schemes out there in equities / future trading ? A “ no yield no fee “ type arrangements so that the person who sells you the investment doesn’t get paid anything unless it increases in value ? Really interested in that and comparison to the lawyer contemplating a client who wants you to “ put your money where ya mouth is mate “ who doesn’t realise the gamble that you are having to take on him / her to get paid whilst funding the overheads of your law practice . The people that I deal with either as clients who I have to defend or acquaintances are generally useless bottom feeder “ Tribal Traders “ chasing one big commission or the other somewhere in the Canary Wharf or “ Guaranteed Bonus Goons “ who sign up to US Banks or US hedge funds who will pay them the most they can wangle and who have no understanding of eg MIFID or what they are suppose to be selling until they get moved on in the latest round of redundancies implemented by Head Office in NYK ,Boston or Chicago . Financial services cannot be made up completely by these types of idiots masquerading as “ Masters of the Universe “ . But can anyone recommend anything and who I can trust “ if they told me that it was raining “?! Thanks1 -
But as I said, its not as simple as saying "no yield (by which I take it you mean growth) no fee". I could get all my "bets" right in terms of which funds or asset class to invest in, only to find Trump invades N.Korea, or Labour gets into power & the stock market tanks. There are a multitude of reasons why stock markets & therefore investments go up & down and a financial advisor has no way of knowing what is going to happen next & how that is going to affect his investment decision. The reason why "no yield no fee" doesn't exist in financial services is because the concept wouldnt work. A financial advisor is not aiming to get a "yield" in all circumstances, but merely trying to better the clients monetary position - be that by tax planning or diversification of assets.ashley said:Igolfaddick said:
I too see clients for an initial meeting without charge and having been a litigator for over 25 years mostly quite successfully . I agree with the concept of throwing bread on the water / speculation to see what that it might lead to . I think that where we differ however is that you are not prepared to enter into arrangements where as a financial advisor you get paid only if the investment yields whereas I will do no win no fee litigation if I believe in the case , it’s financial and legal merit and I think that the client / any other witness is not likely to be viewed by the judge as a complete clown . Interesting that you have not been able to mention a single no yield no fee type investment despite your years of experience in your field . Post 2008 in particular I would think that the time is ripe for a massive shake up in the financial services industry and in particular with respect to payment for so called expert advice just as has happened in litigation where for centuries the law did not recognise “Champerty and Maintenance “ type arrangements.Think of the money that could be made on successful “ no yield no fee type “ investments with arrangements allowing a mark up on fees if the advisor gets it right . Think instead of Woodford etc if he or she gets it wrong and gets paid nothing in consequence .
On a variation of a theme.......I started off as a financial advisor by working for the Prudential in their "home service" division......aka an insurance salesman. Basic salary of (then) c 15k pa with commission on top. 28 years later (19 as an IFA) I will still see clients for an initial meeting with no mention of a fee. Fees will generally then be discussed if we decide to move forward & I feel that I can help. I'm happy with a no help, no fee basis & feel that you have to speculate to accumulate. Nothing is ever lost going to see a client for nothing.ashley said:
Thanks for your insight . You have helped if not with any “ no yield no fee “ investments but in particular with the sort of lines that as a lawyer I should be using in future when approached by people asking for “ no win no fee” litigation.golfaddick said:
So what happens when trump go to (trade) war with China & the markets fall 15% like they did the latter part of last year (and the start of this week). I can make recommendations as to the better funds to invest in, or which asset classes to be in....but I cant read minds or 2nd guess the market.ashley said:
(Puts shoe to ear ) hello ... can you recommend anything ?? No yield no fee - you don’t get paid unless the investment increases in value . ???golfaddick said:
Que....??ashley said:I’m in the dispute resolution game and have noted in recent years the increased number of enquiries that are arising in commercial litigation from chancer type potential clients who want representation on a no win no fee basis . Big risk with that as you are banking on the client coming up to proof at trial 1 to 2 years down the line and the judge not considering him / her to be a complete clown , no documents affecting liability or quantum coming out in disclosure that would change the prospects completely and the judge not being a complete clot and cocking up the law / facts after the trial process alternatively someone with deep pockets on the other side who might try to out money you in a war of costs attrition to judgment . These are just a few of the perils of that type of litigation . Are there any comparable investment / savings schemes out there in equities / future trading ? A “ no yield no fee “ type arrangements so that the person who sells you the investment doesn’t get paid anything unless it increases in value ? Really interested in that and comparison to the lawyer contemplating a client who wants you to “ put your money where ya mouth is mate “ who doesn’t realise the gamble that you are having to take on him / her to get paid whilst funding the overheads of your law practice . The people that I deal with either as clients who I have to defend or acquaintances are generally useless bottom feeder “ Tribal Traders “ chasing one big commission or the other somewhere in the Canary Wharf or “ Guaranteed Bonus Goons “ who sign up to US Banks or US hedge funds who will pay them the most they can wangle and who have no understanding of eg MIFID or what they are suppose to be selling until they get moved on in the latest round of redundancies implemented by Head Office in NYK ,Boston or Chicago . Financial services cannot be made up completely by these types of idiots masquerading as “ Masters of the Universe “ . But can anyone recommend anything and who I can trust “ if they told me that it was raining “?! Thanks
I think you are trying to compare apples with pears when you are looking at your industry against mine.
5 -
2
-
Coming to this a few days after the event but thought I would share my experience. I was in a very similar situation about 6 years ago. Had a pension pot of similar size spread across a few different schemes that was not really gaining much. On advice spoke to a local IFA. We got on well and they consolidated it all and they now manage it, for what I feel is a very reasonable amount considering it has grown at a very healthy rate since they took over management.Showmetheway2gohome said:Cheers
It’s not a final salary pension just company pension. Where employer contributes.
my fund size is £108.500 which is frozen in prudential with profits account. Which will pay a bonus each year. So will still grow until retirement.
The new scheme is like I’m paying 8% of my wages Something like 5% me and 3% my employer it works out around just under £30 a week contributions. This is in prudential scheme which is high risk now and as I get nearer to retirement they move to lower risk.
But I think I can change the risk level if I want.
They said there is a with profit scheme like my old one where you get a bonus each year.
they also said I can transfer my old fund into the new scheme and put a bit in each fund.
So should I keep old fund separate in old fund or add it to new. Thanks for you time lads
They now also look after my mother in law’s finances and have provided some great financial advice.
0
