Financial Advisor vs D.I.Y.

Hi,

I have been using a financial advisor for about 18 months. He has invested, on my behalf, in a variety of direct shares and in managed funds. The portfolio has stayed the same for the last 8-10 months and I pay him 1.1% each month. I want to take over the portfolio myself but I don't know how to get control from the financial advisor. Can someone tell me the process please?

Thank you.

 

if he has managed to keep the value the same, he has done really well! most people here are down 30-40% over the last 10-12 months.

 

I am sorry. I mean't to say that the particular shares are the same although the value of them has dropped about 30%.

 

13.2% Mer

Did you really mean 1.1% per month? The PDS & FSG s/he was obliged to provide should have details of how to escape her/his usery. I suggest you should have read them closely 18 months ago.

crc_error: He has done really well..for himself IMHO

 

if its 1.1% per month, GET OUT NOW!!!

I would say its more likely 1.1% PA.

your saying the shares are the same, I dont think there is a need to be trading the shares. each time you sell, you trigger capital gains and brokerage costs. Unless you want a xmas card from your broker, keep the shares long term unless fundamentals change and you believe its best to sell.