Whether you’re investing for specific goals or just want to grow your money for a more secure financial future, understanding what you have and how much you pay in fees is key to making the most of your money.
However, the complexity of the financial world means that instead of empowering individuals, investing can actually leave many people feeling overwhelmed.
Complicated fee structures, confusing account statements and bewildering performance measurements can make it difficult for investors to know where to start when wanting to take control and make their money work harder.
If you were to have a few different accounts with different providers, this can be even more off-putting and it becomes easier to push it to the bottom of the to-do list.
Investors can easily lose track of their investments, which can mean they end up with a portfolio that is very different to the one they originally set-up if they don’t have access to ongoing investment advice and fully-managed portfolios that are adjusted to reflect this. Investors can end up with a return that’s much lower than expected or a riskier plan than is suitable for them.
At Moneyfarm, we’re passionate about helping individuals make better decisions with their money. That’s why we offer a free review of all portfolios, including ones from outside of Moneyfarm, to help you see all your investments in one place.
What happens in your portfolio review
After an initial consultation that can be done either in person, over the phone or via email, your dedicated Investment Consultant will do all the hard work for you.
You’ll get a personalised review of all your investments, no matter which provider you use, whether in an Pension, ISA, or General Investment Account.
Your report will show you:
- Your performance
- What you’re invested in and how this looks in your portfolio
- Geographical exposure
- All fees (this can include management, underlying fund fees, entry and exit fees, transaction fees)
- Risk levels (of your portfolio and specific funds)
Your Investment Consultant will then go through your personalised report with you, again either in person or on the phone, to ensure you understand what this means for your investments and your ability to reach your financial goals.
To get started, all you need are your account statements, fund factsheets or Key Investor Information Documents. Moneyfarm will do all the rest for you.
Don’t worry if you don’t have these documents or don’t even know what they are, Moneyfarm can, with your authorisation, get in touch with your provider to get this information.
Once you’ve got your report, you’re not obligated to do a thing.
Putting all your investments in one place
Armed with clear and concise information on your investments, you can make a more informed decision on what to do next. There are benefits to having investments with different providers, but combining your portfolios together could make your investments easier to manage and help you save on fees. With Moneyfarm, transferring your pensions and ISAs is easy and free.
There are a number of reasons you might think about transferring your old pension and ISAs to a new provider, or consolidating your investment portfolios into one place.
Transferring all your old portfolios into one pot can help make your investments more efficient. Instead of analysing 11 different accounts to see how much you’ve got and understand the costs and fees you’re paying out, you just have to log in to one account.
It might also be cheaper. Many wealth managers have a tiered pricing structure that decreases the more you invest with them. At Moneyfarm you pay 0.7% on anything up to £20,000, 0.6% on anything between £20,000 and £100,000, 0.5% on anything between £100,000 and £500,000, and 0.4% on anything above £500,000.
Spreading out your investments into smaller pieces means you’re probably in the most expensive price band, whereas consolidating all your portfolios into one could take you into a cheaper band above.
Having everything in one place means you can easily see what you’ve got and whether you’re making the most of your money. And if you’re not on track with your goals, whether that’s to help your children on the property ladder, your once in a lifetime holiday or dream retirement, you can also easily identify and make the necessary adjustments you need to get there.
If you’d like a free review of the investments you have outside Moneyfarm, or have any questions about the free service, email firstname.lastname@example.org with the subject line ‘I’d like to discuss a free Portfolio Review’.
Harry or your dedicated Investment Consultant will then conduct extensive analysis of the cost, quality and overall diversification of your investments, to keep you on track.