Davy Select - Trading plus account

will.in.cork

Hello all,
I'm looking at different investments mechanisms and can across a financial advisor who suggested I set up a Davy Select trading plus account with them. They recommend the ‘Platform’ approach, which provides three main benefit:

• Low Cost
• Control
• Transparency.

[font=Calibri, sans-serif]They recommend Asset Allocation that best reflects your growth targets and attitude to risk. Once they know the right strategy for me they will send me their Investment Recommendation Report. By this stage I will have transferred money to the Davy Select account and they can then instruct what funds to purchase for me. They will continue to manage my investment on my behalf and review with me regularly.[/font]

[font=Calibri, sans-serif]Extract:[/font]

[*][font=Calibri, sans-serif]Our initial Investment Advisory service is run on a time-fee basis. This means we work directly for you and are not  so concerned with the provider we use or how much you invest. We will likely spend 2-3 hours on this process at a price of €150 per hour.
[*][font=Calibri, sans-serif]The ongoing management will be billed through the fund directly.[/font]
[*][font=Calibri, sans-serif]Total cost for your investment portfolio is likely to be approx. 1.5%, which is less than half of what most Actively Managed funds charge.[/font]
[/font]

[font=Calibri, sans-serif]What do people think of the above method, any thoughts, any questions I should ask to clarify any grey areas? [/font]

[font=Calibri, sans-serif]Thank you all.[/font]

[font=Calibri, sans-serif]Regards, [/font]

[font=Calibri, sans-serif]Will. [/font]

Dardania

High ongoing fees in my opinion. If you need the advice, and are paying for it, fine, but then maybe try to use the advice to purchase directly the types of fund that are recommended (and get away from high ongoing management charges) using an execution only type of account (that you manage)