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If so did they recommend you sell recently before the "crash"
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Whatever the advice I reckon plenty will get sued.
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SHARES CAN GO DOWN AS WELL AS UP AND YOU MAY GET BACK LESS THAN YOU INVESTED
Hard to sue with these words plastered all over the contract |
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An IFA's job is to risk profile, and recommend investments commensurate with that risk. Not 'recommend you sell'
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i had 80% in a very low risk , and 20% in a higher risk, gone down 20% in 2 weeks, if go down another 20/% in next 2 weeks might well take most out
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don't do that. by taking out you'll make the losses real. keep money in there. even add more to it once we hit a bottom in a couple of weeks' time. the worst time to get out is after a huge crash. you'll have to ride this one a bit longer
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Financial advisers are for lazy "people" not investors or those of high-net-worth individuals. Some are just after commissions esp just before x'mas. But, how many financial advisers actually risked their own monies? Excuses aplenty though eg during dotcom era.
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i know little john, but id bail asap, you can get back in at lower if you wanted, can see no upside for a long time tbh, and everyone will be thinking i'll bail anyway..
i know little |
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masta, thats true, but all bets are off here............
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This is a strong cautious fund, around 25/75. Dipped less than 10% over the past month.
.https://markets.ft.com/data/funds/tearsheet/charts?s=GB00B84DV184:GBP |
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So 'very low risk' is probably not too accurate.
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thousands will die
what does that tell ye ill say no more |
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agree there cider, i know nought about these shares, but ive got a really small pension with nest only opened a few years back with work, and thats hardly lost a penny,
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we,ve done this to death Geoff,my story well,documented on here
but spent 30 mins on phones yesterday with standard life and I have never told a lie in my life the only advise was it,ll be alrite sit tight and if you mention selling up giving you all sorts of numbers you to ring,prove you've sought advice from a registered adviser, I thought you could do it online through the dashboard,unsuprisingly you can only put money in thtrough the dashboard  and he said if you want a proper discussion with a standard life advisor it will cost you 100,s its like phoning sky tv talking to a snotty school kid and if you want proper advice pay extra to talk to jeff stelling, i was logged in the standard life dashboard at time and on my wife,s life was 2 grand poorer when i came off, ive 4 over 85 parents ,grandkids and spinning plates everywhere in my mind at present and thery dont give a fook i really believe at the current rate of losses i could do my lot 188,175, 147,134, grand has been the trajectory since jan the times ive looked in, no comfort to me but their must be millions out there with pensions completely oblivious to all this was reading the mail today who said contact your providers for advice,but unless you pay 4,5,600 its generic advice and in most cases you understand more than the lad/lass your talking to, they talk to you as though this is a slow down over a few months not 1000 points ranges on dow up or down in mins, i think its an absolute disgrace that providers arnt contacting customers i sent an email and they said expect a reply in 3 or 4 days but that will be generic ,ive written down for the wife what it will day, i asked the lad ,tried to explain yesterday if there was anyway i could park/freeze pot for a while pause take breath,but he just kept banging on about freezing this months contributions, i was trying to safeguard 140 grand and he was banging on about saving 150 quid he just couldnt comprehend grasp it ok lads another rant over,ranting on here is a release valve for me stay safe |
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The thing is elis, that probably has more risk in the long run.Risk the you don't beat inflation. In normal times.
What we're seeing now is a risk to civilisation as we know it. Hyperinflation in the west is becoming a serious prospect. Not because of the virus, but choosing to cripple the economy to fight it. |
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betting masta your talking salesmen patter shoite all based on past history do you think in great wall street crash the bottom wasn't real, these falls are happening whilst countries are going bankrupt in todays terms to try and give the markets confidence,
those who can ,have the skills are going balls deep in cash paying governments to shield their cash,do you think their worried about missing bounce ups on the way, |
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If a pound becomes worthless where do you put it? As this is global, USD or EUR is not safe either. The volatility in the leading currencies over the last few days has been incredible. The market doesn't know either.
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i had a pension that ive just looked at the contract with my f adviser in 2012, it reads, my objective is to safeguard over 80%of my fund, and the remainder in an aggressive manner
then he adds , the funds will be set up as 80% in a cash equivelent fund and the remainder on 50/50split basis between aggressive fund and balanced fund. Seems a lot to go down from around 50,000 to under 40,000 in a few weeks ? |
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What's the 80% in?
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This is my 'safe' fund, though it has currency and Rishi risk, so I'm considering hedging .https://markets.ft.com/data/funds/tearsheet/historical?s=GB00B65F6586:GBP
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everyone in those markets are arbing for their life whilst it is still possible
but it will all fall apart when the big funds start going and they will, id say many are pisshing blood as we speak |
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cider all it says is cash fund, i havent a clue sorry?
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Sounds a bit odd, it's worth investigating exactly where it is invested.
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good luck elsijohn hope it comes right for you,
I was in a pension fund in 2010 just put a 120 a month in for 25 years ish and it had 72 grand in I thought that's done ok, but later found out it through various closures,mergers unbeknowns to me my serps had ended up going in same fund,might have got a letter didn't register back then etc anyway I got made redundant from steelworks wife was panicing so I mentioned this pension pot and I,d just turned 50 so new I could access it ,before it changed to 55 ,and worked out I could take the tax free bit about 18 grand had about 12 grand savings and pay mortgage off to give wife piece of mind,also copped for about 2 grand early redemption fee it was only a small mortgage back then about 32 grand to pay it off when the advisor came round house to sort it out my dad was there for a bit of help the 49 grand left was the start of the sipp I,m currently in, but as he was writing things down he quickly mentioned and moved on without any great detail and we were togreen to interrogate him that the old pension had a guaranteed income increase of 4% a year, mortgaged paid served a purpose but I,d kill for that 4% guarantee now,although my auld man said last week when we were discussing recent problems that they probably had ways of circumnavigating the guarantee in certain circumstances,best not to prey on it |
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cider, i will if it gets hammered again in a few weeks.Ive taken some out of it already last few years, i just hope hes not taken it out of the safe cash fund , i bet thats what hes done , it should be 80/20 split , if hes made bollocks who could i investigate with,?thx
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Here are the steps .https://www.fca.org.uk/consumers/how-complain
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Not via a financial advisor as do my own as had one come round to my house 20yrs ago when I was younger and after mortgage advice via FA.
Bloke knew nothing and after 40 mins excused himself, if he had stayed another minute I'd have thrown him out anyway. Commission culture back then, might still be the same, but not for me thanks |
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took few thousand out few years back, took family cruise etc, we were on low pay etc and getting nice family tax credit , i was naive didnt know that my money taken out was classed as income for the year, anyway had to pay all the tax credits back over the year .
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cash funds are rarely just cash...if you think about it cash earns practically nothing. Almost certainly the fund will hold short dated gilts and treasury bills and will have an extremely low volatility range.
My pension pot which was (before the crash) 50% equities 50% fixed interest has dropped 15%. My advice is to forget about it for 6 months ;looking at it on a daily basis whilst it's dropping is liable to send you into depression. The markets will come back ;the only question is when. |
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posy I cant comment on your financial abilities but yourdr,s skills are unapproachable its depressing me and the wife
, but if you and lots of others including me are dropping 15% in a month, 6 months should be like endowments get red,orange,yellow warning letters |
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If elis's theoretical 80% 'cash' fund has lost 20%, I wouldn't be inclined to forget about it. It's only when the tide goes out we discover who has been swimming naked.
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Not sure what you mean by...dr,s !
Seriously though I've been through a number of crashes ,some being worse than this one and they're scary because the market always overshoots ,but it always reverts back. |
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doctor
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some being worse than this one,you think this is over ?
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posy, whilst it may recover, a paying pension suffers because each month they take an income, they are effectively selling at a lower price or using more units for the same income. That can never be recovered. This is going to hurt a lot of people, regardless if turns around or not.
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I doubt very much that it's over ;ftse could well drop below 4000 who knows , but if it does it'll be a good time to buy. Impossible to call the bottom but once China starts to recover and/or a vaccine is thought to be near available the market will rebound...expect a V shaped recovery.
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For me, if I was still in the market, this is an excellent time to commence pound cost averaging. A monthly premium could earn some very favourable returns, even if the market does drop a little more.
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Aspro take your point but the converse also applies...you sell fewer units when the price is high.
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this is the worst crisis we have ever seen,governments are having to do things that we have never seen before and probally wouldnt have believed government would or could do,they didnt try to put things right after the 2008 crash just kept pumping cheap money into the system which artificially pushed up the stock markets and now when this is all over the numbers will be mindblowing and unlike a normal crash when the garbage companys close down in this one they are being bailed out to carry on and do the same thing again.
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Here is a simple tip for folks considering buying a new policy off an independent financial adviser (IFA). The IFA will encourage you to put us much as possible in the pot to start off with. He may use little charts or drawings (sales pitches) in order to convince you that you need to put in as much as possible in the first two years to grow the pot rapidly. The reason for this is that he only gets commission off the first two years contributions. Put the absolute minimum in to start. Increase it after two years.
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