Hi there i currently have a couple of hundred K to invest from the first stage of funds being released in a trust in my name. It's all UK based and am looking to start investing the initial sum with the view to invest a further £250k as funds get released.
Is this the job of an IFA or a Wealth Manager any help would be great!
Questions And Answers
Do i need a Wealth Manager or IFA?
asked by Jules MacCarthy posted 2 Years ago at 10:00
1-6 of 6 Answers
Richard Silverwood answered 2 Years ago at 11:29, last modified: 2 Years ago at 10:29Jules
I may be biased but a good Independent Financial Adviser who will charge you a set fee for financial advice that will meet you objectives.
A Wealth Manager? - who knows what you might get and what you might pay.
Richard Silverwood - IFA
Carl Hope answered 2 Years ago at 14:52, last modified: 2 Years ago at 13:52Hi Jules, a wealth manager is an IFA, both should carry out a full factfind and offer advice after looking at you current situation and what you gouls and aspirations are, they should both carry out an attitude to risk and loss factfind to tailor the investments to suit your current needs. It would be worth shopping around and meeting 2 or 3 as you may get on better with one than another. Find out waht you get for your money and get it in writing, if you are paying by fee then make sure you get what is promised, if not then change to a firm that delivers, £250,00 is a good sized investment for any firm whether IFA or Wealth Manager so negotiate hard on fees.
Steven Weiss answered 2 Years ago at 9:01, last modified: 2 Years ago at 8:01Hi Carl, an IFA/Wealth Manager would be a good place to go. Fees here will vary as will quality and experience. There are many private client houses that look after investments. The sums you talk about are too small for a family office to even begin to consider, unless your trust is substantial.
EMAR Publishers - Dividend Income Investor.com answered 2 Years ago at 12:48, last modified: 2 Years ago at 11:49Hi Jules
Ever considered going it alone, i.e. without an IFA or wealth manager, taking responsibility of your own actions rather than blaming others if it turns out that they put you in the 'wrong' investments? Reading up on investments, developing your own investment style, building your own tax efficient stocks and share portfolio, using stocks and shares ISA's and/or SIPP's.
Andrew Diver answered 2 Years ago at 17:34, last modified: 2 Years ago at 16:34I would suggest talking to a few IFA's and find someone you are happy with. You need to be comfortable they understand what you want, and how much they are going to charge you. As accountants we sit in on plenty of clients in these situations and the key determinant is not performance but relationship.
Jules MacCarthy answered 2 Years ago at 14:37, last modified: 2 Years ago at 13:37Many thanks for all your answers and taking the time to reply, i will have a look into suggestions, also i didn't realise that IFA and Wealth Manage are the same. EMAR i that doesn;t take my fancy.
Many Thanks, i'll be in touch
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