Firstly a big thank you to all my regular blog readers for their support during 2016. When I first started writing this blog a couple of years ago I wondered whether I was just talking to myself but all the evidence now is that my readers are getting enough value to make it all worthwhile.
I am becoming more and more convinced that the online financial services packages are the right answer for many people. They are very user friendly, far less expensive than using a regulated financial adviser, and encourage people to take an interest in and understand their financial planning.
There will be circumstances when the services of a regulated financial are necessary and I will always let you know when I think that is the situation.
As my regular readers will know I am a great fan of the Hargreaves Lansdown platform, which I, and most of my clients, use very effectively. What I am not as much of a fan of are their Multi Manager Funds. It is relatively straightforward to design a portfolio of individual funds which will pretty much mirror their funds, provide greater flexibility, and save fees of 0.75% pa. Over the years those fee savings really add up.
My clients fall primarily into three categories:
Firstly, existing Hargreaves Lansdown clients who are looking to discover whether they could use the platform more effectively. This involves making sure their investment strategy is in line with their objectives, making sure they are not paying unnecessary fees, and putting in place a robust monitoring strategy.
Secondly, clients who just want help in establishing their Hargreaves Lansdown account and learning how to operate it effectively. This is often the children of my established clients who are just getting started on their financial planning journey. They absolutely love the online processes which leave them feeling in control of their planning.
Thirdly, those clients who are thinking of moving away from a high cost, traditional financial planning relationship because either their circumstances are changing or they just don’t think they are currently getting value for money. Using the “no advice” online platforms may be the answer but it can be a very scary prospect. Buying into the support and guidance of someone with more than 30 years financial planning experience (that’s me) makes the whole process much, much, easier. New clients love the cost savings, the feeling of control and the online valuation services.
The blog is designed to give general help and guidance for everyone with no expectation of an on-going business relationship. Normally I post about once a fortnight but the for next few days I will be posting daily suggestions for Financial New Year Resolutions.
They won’t all be right for you so my hope is that you will decide which will benefit you most and commit to taking some action. Please, please, make my new year by telling me which one is your priority. Just text me on 07770 575122. I really would welcome more reassurance that I am not just talking to myself!!
IMPORTANT INFORMATION
This document and our on going services are not personal advice. We'll give you all the help and guidance you need to make your investment and retirement decisions, but we can't advise you. If you're not sure whether you need regulated financial advice we can put you in touch with a suitably qualified and experienced regulated adviser. Because we are not regulated by the Financial Conduct Authority you will not have access to the Financial Ombudsman Service in respect of any complaints. If you use one of the "no advice" on line services to handle investment transactions they will be Regulated and you will have access to the Ombudsman and The Financial Compensation Scheme in respect of their services. The value of investments/pension plans can fall or rise depending on market performance. The Retirement Team and The Investment and Retirement Coach are trading names of Capture Success Ltd Reg No 01825075 Tel 07770575122
