Financial advisors

blackrovers

Hey i know the recession and property market have messed up alot of funds etc but i was wondering, i invested in a uk property gear fund with standard life and invest 40000. Now he's the shock i was told there a few months ago that it's now worth 16000. When i asked should it not of been moved to a low risk fund i was told that could of been done.

Now was there a mistake by the financial advisor to alert me of such heavy losses and attempt to reduce my risk by moving it to a low risk fund in the same company?

any ideas?!

Mort5000

Is your financial advisor paid to watch these things and warn you ?

I'd say just leave it in there unless you need it.
The market will come back.
You're far far beyond cutting your losses.

pocketdooz

blackrovers wrote: »

Hey i know the recession and property market have messed up alot of funds etc but i was wondering, i invested in a uk property gear fund with standard life and invest 40000. Now he's the shock i was told there a few months ago that it's now worth 16000. When i asked should it not of been moved to a low risk fund i was told that could of been done.

Now was there a mistake by the financial advisor to alert me of such heavy losses and attempt to reduce my risk by moving it to a low risk fund in the same company?

any ideas?!

Sounds like a self-managed setup and it's doubtful you have any recourse unfortunately.

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Raskolnikov

Do you have anything on paper that states that this was a low-risk product? If so, then I would be getting onto the regulator about being deceived into buying this fund.

radioactiveman

I'd be surprised if a geared fund was described as low risk. The bank won't move the funds to something more low risk unless you tell them to.

blackrovers

it was a high risk fund and i'm paying a manage fee. i was told after i rang up to find out how it's going that it's down 24000 and i asked can i move it to a low risk fund until the markets settle i ws told ya i could. so i'm just wondering should i off been informed before it got so low and maybe i could off been told of other options to save what i can?!

pocketdooz

blackrovers wrote: »

it was a high risk fund and i'm paying a manage fee. i was told after i rang up to find out how it's going that it's down 24000 and i asked can i move it to a low risk fund until the markets settle i ws told ya i could. so i'm just wondering should i off been informed before it got so low and maybe i could off been told of other options to save what i can?!

Ye, it's up to you to monitor your investments.


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