Call Richard Cook: 07770 575 122

email: richard@theinvestmentandretirementcoach.co.uk

Is any of the £3.7bn trapped in the Woodford UK Equity Income Fund your money?

If so, just how did that happen? The writing has been on the wall for some time.

I sold out of my Woodford funds in Nov 2018. Probably later than than ideal but nevertheless a good decision as his fund has under performed the FTSE 100 Index by about 18% since I switched.

And I was not alone. His fund has shrunk from £10bn 2 years ago to £3.7bn at the time of the suspension of trading. Some because of poor performance but mostly because investors were selling out.

So why do you now find yourself locked in to a poorly performing fund with no certainty of being able to escape in the near future?

If you are paying good money to an adviser to look after your money it is time to ask some serious questions. Just what level of investment advice/management are you receiving and is he/she really earning those fees?

Congratulations to all those advisers who kept their clients in the picture and moved their funds in time. If that’s not your adviser surely it’s time to take another look at what type of service you need in future.

If you are using one of the “no advice” platforms such as Hargreaves Lansdown the situation is less straightforward as all of their documentation will confirm that they are not giving you personal advice. There are however big questions to be asked about why, even a week or so ago, the Woodford Fund was still on their Wealth 50 list and being promoted to new investors. Chris Hill, the CEO of Hargreaves Lansdown, has issued a statement which is little more than a grovelling apology and an offer to waive fees on Woodford funds until the suspension is lifted.

If he thinks that waiving a fee of 0.45% per annum will in any way satisfy Hargreaves Lanswodn clients who are sitting on significant losses he is in for a nasty surprise.

This is not the time to promote my business, but I will be doing all I can to try to make sure Hargreaves Lansdown take their responsibilities seriously.

Whilst there are questions about Hargreaves Lansdown I am a great fan of their overall package. It is relatively low cost, user friendly and enables clients to “pay attention” in very practical ways so if they get this right I will continue to support  them.

If you would like to know more about the reasons why I think you may have valid claim against Hargreaves Lansdown, just text or phone me Richard on 07770 575122 and I will keep you updated.

Further updates on this topic will only be issued to clients who have indicated they still hold Woodford funds. Don’t miss out on more information – get in touch with me today to be kept in the loop.


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

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