Pensions.....Why bother?

[Freelancer Financials]

Hear hear.

And IMO there is no need to go into funds at all, I now choose to buy shares directly via both SIPP and ISA wrappers. I also believe the t'internet is the best and cheapest IFA one can find.

If you have the time and the skills you may net a significant return, although there is also a significant risk of losing your cash, particularly if you are inexperienced in share dealing.

[Freelancer Financials]

I think you're off your target audience a little, many on here know all that already.

What about the influx of new blood? New freelance contractors that might want financial guidance? It's great that you know all this already, but that doesn't mean others won't benefit.

[kaiser78]

Some useful info on here from Freelancer Financials.
I have a related query to this discussion which maybe FF can give their view;

I have been running a Skandia funds MultiISA for the past couple of years. However the charges/commisison fees every time I make a contribution is 3% to my IFA and 1.5% to Skandia.

Now, my IFA does monitor the funds every 6 months and investment changes where necessary, but paying 4.5% charges/commisisons each time I make a payment sees excessively high ? Is it ?

Thanks

[Fred Bloggs]

Some useful info on here from Freelancer Financials.
I have a related query to this discussion which maybe FF can give their view;

I have been running a Skandia funds MultiISA for the past couple of years. However the charges/commisison fees every time I make a contribution is 3% to my IFA and 1.5% to Skandia.

Now, my IFA does monitor the funds every 6 months and investment changes where necessary, but paying 4.5% charges/commisisons each time I make a payment sees excessively high ? Is it ?

Thanks

If you don't mind, I can answer that. Yes it is high compared to my SIPP, but you are paying for advice, it seems. I have a SIPP with HL and apart from the underlying annual charge in the unit trusts (some of which is rebated anyway) there is no charge for running a SIPP invested in unit trusts. When buying unit trusts all (or the vast majority of) the buying/selling spread is discounted to you also. Holding individual stocks or investment trusts does incur extra charges. However, I am quite happy with the vast range of unit trusts open to me. Ofcourse, this only applies if you make your own investment decisions. If you want HL to decide where to put the money, they charge you just like any other IFA will. HTH.