We were asked by a client to review his mother’s investment portfolio. We discovered a large share portfolio “managed” by a well-known bank. The fees for the management service worked out to be around 1.5% pa and when we assessed the portfolio turnover we discovered there had been minimal change to the equities and funds for many years.
Further investigation also showed that there had been little or no reviewing process. The client had never been properly assessed for risk and the tax wrappers had completely the wrong mix of investments within them.
We were able to transfer the funds in specie to our preferred investment platform, change the asset allocation to match the client’s risk profile and move investments into the best tax wrapper for their structure.
We agreed a fixed fee scheme with the clients which meant we moved the investments for a cost of around 2% with an annual ongoing management cost of 1%. For this the client receives extensive reporting, comparative performance statistics, general financial advice and regular contact with the Swallow team.
We do not make a client’s details public, however if you are interested in becoming a client and would like to speak to someone who is like you and uses us now, please ask us to put you in touch.