Hargreaves Lansdown SIPP Advice

[Fandango]

I'm looking at getting a SIPP sorted before the end of the month. HL seems to be a popular choice on here.

Looking at their website it appears that they offer a range of advice services from completely DIY to full portfolio managemnt.

I don't really know anything about investments (certainly haven't followed the stock market) so i'm leaning towards some intial guidance from them as to suitable investments. (I've got a figure of about £20k i think i want to stick in there)

I just wondered if anyone has any first hand expereince of the advice offered and how well its performed for you

thanks

[northernladuk]

Dunno about others but if I was in your situation I would be looking for an IFA that I trust rather than take a stab myself..... I did when I started and I am very happy with what I have.

[Fandango]

HL have their own IFAs Independent Financial Advice in the UK | Hargreaves Lansdown so i guess i was asking whether anyone had used them , and how they found their services

I don't know any IFAs and have had no recommendations from friends or familys

[Retro]

HL have their own IFAs Independent Financial Advice in the UK | Hargreaves Lansdown so i guess i was asking whether anyone had used them , and how they found their services

I don't know any IFAs and have had no recommendations from friends or familys

HL have excellent IFAs. I've been investing for 35 years and asked them some questions where I knew the answers, and some other questions where I didn't. They not only answered the questions accurately but they get you to consider the wider implications. The amount that you are planning to invest should allow you to receive telephone advice. Good luck.

[unixman]

How can you trust any IFA ? Sorry about the maximum cynicism. Aren't they swayed by what pays them (or other parties to which they are linked) the biggest fees ?

I know there is some law change that is supposed to make them actually "independent", but will it really ? Pensions are so opaque, making a rational decision is just about impossible. Hope I am wrong on this.

[Retro]

How can you trust any IFA ? Sorry about the maximum cynicism. Aren't they swayed by what pays them (or other parties to which they are linked) the biggest fees ?

I know there is some law change that is supposed to make them actually "independent", but will it really ? Pensions are so opaque, making a rational decision is just about impossible. Hope I am wrong on this.

On the contrary SIPPs are transparent and you choose and monitor your investments. Just lately pension changes have been very beneficial in terms of getting the money out and/or reducing inheritance tax liabilities. IFAs will generally charge a one-off fee for advice as opposed to on-going commissions, so they have no reason not to give best advice.

[tractor]

...

My brother uses HL for SIPPS and pension. He is very happy with them.

[JRCT]

I don't know any IFAs and have had no recommendations from friends or familys

You'd better get your finances sorted quick if you have more than one family.

[tractor]

...

You'd better get your finances sorted quick if you have more than one family.

Reminds me of "My sister is pregnant, I can't wait to see if I'm an aunt or an uncle".

[mudskipper]

Reminds me of "My sister is pregnant, I can't wait to see if I'm an aunt or an uncle".

I read that three times before I spotted what was wrong

I'm with HL - haven't used their advisors (perhaps I should), but happy with the service, although they do send a hell of a lot of crap through the post - I assume you can opt out, but haven't made the effort to find out how. There's a lot of online advice too - suggested portfolios depending on your risk, information about what others in their 30s/40s/50s are buying and suchlike. I chose my pension funds based on this and they're doing OK. I chose my ISA stuff based on whim and it's not doing so good!