|
|
Post by mill750 on Aug 9, 2014 15:21:02 GMT
Is 4.5% fees on investment / income bonds reasonable ? Thought I would checkout some after loading up p2p over several platforms , was a bit surprised at the cost . Tempted to keep going with p2p .
|
|
j
Member of DD Central
Penguins are very misunderstood!
Posts: 2,188 
Likes: 540
|
Post by j on Aug 9, 2014 18:13:21 GMT
mill750, I always felt you are your best own financial adviser. IF you know the financial adviser you will potentially be using is almost a dead cert to grow your money exponentially & give multiple returns on the 4.5% fee, then go for it. But, I doubt there is one out there worth their salt @ 4.5% because, if they were that good, they'll be charging a lot more than 4.5% or investing their own money full time for themselves, imho. After toying with the idea a number of years ago, I decided I'm better served doing it myself & educating myself along the way via books, financial magazines, TV progs, & first hand experience above all. I've made many mistakes along the way & still do sometimes, but thankfully, what was lost was made up later. I also found that if I'm not good at something after a few of attempts (eg stock/shares) I leave well alone rather than keep losing money or just breaking even. At the end of the day, you are your own best judge but, it would serve you well learning from other peoples' mistakes & advice. Your time & risk aversion should also come into play when making that decision.
|
|
|
|
Post by GSV3MIaC on Aug 9, 2014 19:17:02 GMT
Seconded .. no-one is really worth a flat 4.5% fee. 4.5% of the profits they make (or even 20% of the profits over X%) .. maybe.
It really isn't rocket science (OK, I can do rocket science, so who am I to speak!) and any reasonably smart person can make the grade (I qualified as an IFA after I quite being a software manager, but I never practised except for myself .. the personal indemnity insurance fees mean you have to do a lot of business or none at all). Read the books, trawl the web, and do it yourself, unless you really don't enjoy it or can't spare the time .. in which case get some low cost advice service to do it for you.
Insurance and income bonds - well yeah, but if you read the really tiny fine print you'll find the insurance company is not likely to lose money, so you'll probably do as well, or better, going buying some unit trusts (sorry, OEICs .. showing my age there) or investment trusts via a discount broker (I use HL), assuming you are going to invest enough to achieve a reasonable diversification.
This, of course, should not be construed as advice !!
|
|
