zlb
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Post by zlb on Dec 23, 2017 23:12:52 GMT
I was just about to open an account, when I've seen not positive points on here. Not helped by their main board being hidden re being informed.
Has diversification been sorted or not? It's not clear. There are so many accounts with seemingly different problems. What would you recommend. It appears that the GBBA isn't working for people. Are all businesses going elsewhere?
What would you recommend that gives good diversification within product? I'd rather reliable diversification with perhaps a lower interest rate. Don't particularly want specific loan DD on this option.
Thanks.
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Post by df on Dec 24, 2017 3:52:58 GMT
I was just about to open an account, when I've seen not positive points on here. Not helped by their main board being hidden re being informed. Has diversification been sorted or not? It's not clear. There are so many accounts with seemingly different problems. What would you recommend. It appears that the GBBA isn't working for people. Are all businesses going elsewhere? What would you recommend that gives good diversification within product? I'd rather reliable diversification with perhaps a lower interest rate. Don't particularly want specific loan DD on this option. Thanks. If you are happy with lower rate, QAA or 30-DAY could fit your requirements.
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KoR_Wraith
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Post by KoR_Wraith on Dec 24, 2017 5:41:09 GMT
AC is by no means perfect but it's certainly worth opening an account and having a play around.
I'm invested entirely through their manual (mlia) account, however, the last 24 months has seen rates reduce significantly to the point where the managed accounts with provision funds offer a better risk reward for someone with new money to invest; often individual loans previously offered 10%+ whereas now 6-9% is the norm, compared with 6-7% for the managed funds.
AC come across more professionally than most other platforms and most of their loans seem well managed with better than average communication/updates,however, there's a handful of loans that have defaulted with poor realisation of security that perhaps could have been handled better.
I'm still chasing 10%+ returns elsewhere but I'd recommend AC managed accounts to friends/family if they wanted a simpler way of earning 6%.
The private board is similar in content to other platform public boards, nothing unusually sinister going on. If anything it's a fair bit quieter than other boards which could be seen as a positive indicator.
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Post by elephantrosie on Dec 24, 2017 8:33:32 GMT
agree with the above two comments.
answer to your question- yes worth opening.
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ashtondav
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Post by ashtondav on Dec 24, 2017 8:39:34 GMT
Diversification and better use of the PF come in February. Open an account then. Currently diversification is useless in the "fire and forget" accounts which of course is unnecessary if there is a functioning PF, but.....
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Post by elephantrosie on Dec 24, 2017 9:16:51 GMT
and dont forget to try a non isa account with AC first if you are new to it. then you dont have to waste your ifisa accoutn for this year if you do not fancy it
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agent69
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Post by agent69 on Dec 24, 2017 9:25:35 GMT
Has diversification been sorted or not? It's not clear. It is clear, the new diversification comes in February (although what replaces the current 20% limit is currently unknown). I look upon AC as being the most solid platform in terms of competency, honesty and reliability, but I'm not currently investing new money due to the perpetual lowering of rates. Might have a look at the ISA with next years allowance.
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zlb
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Post by zlb on Dec 24, 2017 11:05:11 GMT
Has diversification been sorted or not? It's not clear. It is clear, the new diversification comes in February (although what replaces the current 20% limit is currently unknown). I look upon AC as being the most solid platform in terms of competency, honesty and reliability, but I'm not currently investing new money due to the perpetual lowering of rates. Might have a look at the ISA with next years allowance. Someone on a different thread had written that 'now that diversification is sorted...' and it appears that it isn't, yet. 20% seems massive to me. Sounds a bit like Z - you have to deposit smaller amounts at a time in order to not have eg 20% of a large deposit invested in one loan.
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Post by crabbyoldgit on Dec 24, 2017 11:32:13 GMT
my understanding is that if the new diversification program works ok the 20% rule will not be a big thing .As soon as possible after a new investment which may use the 20% to get invested quickly the program will start to shuffle loan parts around members to achieve in an ideal situation a loan distrubution the same as that in the 30 day type accounts, in which all loans are held in common. The only difference will be that new investments in the 30 day accounts in effect get a slice of those loans held within the funds which are suspended, in trouble, but as trading in these within the gbba , geia and property fund is banned. No loan parts in these will be purchased, so a i hope very small difference, what a shame.
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agent69
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Post by agent69 on Dec 24, 2017 11:35:50 GMT
It is clear, the new diversification comes in February (although what replaces the current 20% limit is currently unknown). I look upon AC as being the most solid platform in terms of competency, honesty and reliability, but I'm not currently investing new money due to the perpetual lowering of rates. Might have a look at the ISA with next years allowance. Someone on a different thread had written that 'now that diversification is sorted...' and it appears that it isn't, yet. 20% seems massive to me. Sounds a bit like Z - you have to deposit smaller amounts at a time in order to not have eg 20% of a large deposit invested in one loan. If you look at the bottom of page 6 of the IFISA thread Stuart said "No but the new diversification algorithm in February (not end of January, sorry chris !) will fix this on existing accounts."
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angrysaveruk
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Say No To T.D.S
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Post by angrysaveruk on Dec 24, 2017 11:57:02 GMT
AC is the best platform I have used. Manual Investment is the way to go in my opinion, you can get a pretty diversified account earning 7%+
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trouble
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Post by trouble on Dec 24, 2017 12:04:57 GMT
Yes
Solid platform with decent communication, good variety of loans available to purchase immediately via the MLIA account, however the golden days of 10% for lenders are long gone so the bulk of my money is gradually looking elsewhere for the higher returns as some of the older loans repay, but i still invest in most new loans for diversification.
I don't use any of the auto accounts, but i do allow the QAA to hold any spare cash i have on the platform.
AC effectively use our money (sat in the QAA) to underwrite the loans, then sell (securitise) down into the MLIA and the auto accounts to free up the cash again in the QAA, a very clever method in my opinion.
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Post by hartshay on Dec 24, 2017 22:58:39 GMT
I like Assetz and continue to top up in the manual loan investment section .. Now in hundreds of loans and very well diversified.
Not many others bar Ablrate thatI would invest much in nowadays .....
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ton27
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Post by ton27 on Dec 27, 2017 13:56:58 GMT
I like AC for its ease of use and professional approach. Unfortunately, like many others I am withdrawing funds as the rates have dropped significantly with no apparent change in the risk profile. I assume it is AC making a bigger margin.
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savernake
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Post by savernake on Dec 27, 2017 14:20:40 GMT
I would recommend the QAA and 30DAA if you don't mind accepting lower rates for less risk. They compare very favourably against RS Rolling if you are looking for quicker access to your money.
I'm waiting for the improved diversification and PF to be launched before I dip a toe into the other automatic accounts. Although the PF will cover missed interest payments, it looks as though it could potentially still take years for any lost capital to be recovered.
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