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  1. HB, the graph shows the money reaching the platform on 7 January and downhill all the way since then. Isa graph.pdf
  2. Yes, fees have been deducted but if you see a graph of the investments it has just gone down from the first moment, which brings me back to my initial question of how responsible is it to place cash in a falling market, and the guy admitted knowing/noticing global markets had been falling since November.
  3. Thank you for your comments. I may be naive but the way I see it is this: Lets say there is a car that can take 100 gallons of petrol and the owner wants to do a special journey and has just one opportunity to fill up. Lets say the person who filled the car was sloppy therefore 15% of the petrol was lost. This means the person will not be able to make the full journey he intended to. That's the way I see it but I know plenty think in a different way. If I'm 15% down at the outset then surely this has already reduced the future potential by 15%?
  4. I think we are talking about two different issues. I'm telling you I've made an immediate loss and you're telling me to look at the contract. Whatever he states on paper is meaningless if I have started out on an immediate loss, it's looking like there will be more loss to follow if the rumblings about a recession are correct.
  5. Hi, I do have the contract letter. It is worded in a very sly way, he's very keen to charge for services but at the same time has worded everything to absolve responsibility. It is geared towards 10 years. I dont know what you want me to find in it as it is quite standard, writing everything we discussed on paper. He even vaguely alludes to not picking the funds himself, but picking them via Defaqto Engage. He has written a couple of paragraphs about ethical funds as if I had brought the topic up in the first place but I didn't so I suppose it is just a boilerplate contract. What is it that I am supposed to be looking for?
  6. I do have a long "contract". The fees are 3% upfront and 1% per annum. He offered an annual fee of 0.5% for doing nothing, and 1% for supposedly being on call and visiting me once per annum to discuss the investment. However, I dont even trust his judgement anymore. I will read through it again at the weekend and see precisely how he has assessed my situation.
  7. He isn't missing a trick. He has charged the fee upfront and is selling shares on a daily basis to ensure he is gets his 1% fee on an ongoing basis. I can't believe I have to endure these losses when clearly my money has been mismanaged. I dont agree with you - he could easily have told me to wait a couple of months till the markets settle but didnt. I dont even know if my funds are low, medium or high risk.
  8. What I meant about timing is how long should I wait before starting a complaint procedure if things dont improve? I do not need the money just yet. The funds are on a known platform and I have full access. In theory I could sell up right now without his "permission". Something they said is that all the funds have stated they are on target for their 5 year projections. I did complete a questionnaire regarding my attitute to risk and it came out higher than anticipated and at any rate he has treated me as medium risk tolerance rather than low. I'm considering dropping him to save the 1% annual fee, it just feels like good money after bad. If the funds are on track what would I need him for? Would this be unwise? I really feel it was quite sloppy to put cash into a falling market, he admitted he had known markets were dropping globally since November, he didn't tell me this before transferring my money and I kept asking him for log in details to the platform but he did not even acknowledge this request. It was only when I contacted the platform and they helped me log on that I saw the drop started from the very first moment in January, before Ukraine.
  9. Thanks for your response. I told him I didn't need the money yet and hoped it would increase gradually for when I do need it, say in 10 years. He said in theory I could start drawing down around £10k per annum from the profits in the future. He was recommended to me via a friend who has been with him for around 20 years and said on average his profits, after all costs and taxes have been around 7% per annum. But since I'm £15k behind right from the start it seems pretty awful to me. How soon can I expect any upturn and if it just flatlines for say the next 2 or 3 years where do I stand?
  10. I recently engaged a financial advisor to consolidate my pensions and a cash isa, together worth perhaps £120k. This was invested in January 2022 and has only dropped in value so far. I have written to them several times but they say things like you need to hold your nerve, it will get better when the situation in Ukraine is resolved etc etc. I understand all the rationale in that the pension funds would have fallen with my previous pension provider however, to place cash into a falling market is quite reckless. From the first moment it has only fallen and I've lost approximately £15k since January 2022. I am 64 years of age so don't have a lot of time for this to pick up again and I'm not working, nor am I likely to be offered a job due to my age. How long should I give it before taking action and what precise action can I take? Is there any way of recouping my losses from him? I understand I could take this to the Financial Ombudsman but what would they do?
  11. Hi, sorry I didn't see this before. No I doubt very much there was a concern about asbestos, although he probably would have said there was just to shut me up. The electrician was a bit of a sociopath, he told me one lie after another, after another, just so he could do what he wanted. He just laid the cable from A to B with absolutely no concern about anything else due to it being an "emergency". I've challenged the managing agents many times but they will not listen to anything I say, will not show me a copy of the insurance policy and furthermore they are going to deduct £500 excess for the whole claim from me.
  12. Around 7 years ago my mother was feeling unwell and had a slight tremor, her GP latched on to the idea she had uti and kept prescribing antibiotics. This caused huge problems in her health and brought on non-epileptic seizures which she did not have before. Shortly later my mother had a heart attack so clearly her tremor was due to her feeling unwell in the run up to her heart attack. Needless to say they totally missed the signs that she had a heart condition. The non epileptic seizures remained for quite some time. We didn't understand what was happening and took her to so many specialists for a diagnosis and to help cure her from it, which we did eventually but it was a long haul. My mother now has dementia and is in a care home funded by our borough. Currently the dr affiliated to the care home is insisting they administer memantine which is a drug which supposedly slows down dementia. My mother took a small dose for about a week and gradually the tremors began again - we know this is the beginning of the non-epileptic seizures so we asked that they take her off the drug. This dr is obsessed with memantine and wants to force my mother to have it, even though she is aware of the side effects. they held a meeting with the person at our borough handling my mother's care and between them they decided it would be in her best interest to administer memantine. They are relying on the Mental Capacity Act. None of our concerns were taken into consideration. We do not have a LPA in place. We do not know what to do next to prevent this travesty taking place. It's as if they are willing to sacrifice all other aspects of my mother's health, perhaps even her life for the sake of giving her memantine. Where do we stand and what can we do to prevent this?
  13. Stu007 thanks for getting back to me. Yes it absolutely is one of the lies the electrician told me and yes, I believe it's an armoured cable, 5cm diameter with clips, its hideous.
  14. Stu007, thank you. I've asked the managing agents for the name of the company, if it is even a company. Also the actual insurance policy to see what it says. Will ask for what you mentioned too.
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