stanbowles
Registered User
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- 28
I have been asked to give some investment advice to a relative who is in his mid late sixties, has partially retired but is still active and working and has a varied accumulation of different pension entitlements which he largely does not have to go near (additional public service pension which meets ongoing needs).
With no major liabilities and with significant property assets already (c2.5-3m euro including own house), the other principal assets are various AVFs, pensions and cash on acct (c.10 individual pension accts) whose total value is c. 3.5m euro. Relative has little interest in taking a more active role in managing this money but obviously would like it to grow and probably can stomach medium risk with up to 70% of the non property assets.
My question to boarders: what is the best advice I can give. My hunch is to tell him:
1/ This is a lot of money and needs to be managed more coherently.
2/ talk to a few different independent advisors on a fee for consultation basis with a view to adopting a coherent investment strategy
3/ consolidate the various pension accounts into one low fee, tax efficient vehicle (Quinn Life, ETFs?..) so as to simplify and possibly minimise charges
4/ look at and possibly revise asset class spread of the 3.5m in non property assets with a view to diversifying
Any other pts worth considering.
John
With no major liabilities and with significant property assets already (c2.5-3m euro including own house), the other principal assets are various AVFs, pensions and cash on acct (c.10 individual pension accts) whose total value is c. 3.5m euro. Relative has little interest in taking a more active role in managing this money but obviously would like it to grow and probably can stomach medium risk with up to 70% of the non property assets.
My question to boarders: what is the best advice I can give. My hunch is to tell him:
1/ This is a lot of money and needs to be managed more coherently.
2/ talk to a few different independent advisors on a fee for consultation basis with a view to adopting a coherent investment strategy
3/ consolidate the various pension accounts into one low fee, tax efficient vehicle (Quinn Life, ETFs?..) so as to simplify and possibly minimise charges
4/ look at and possibly revise asset class spread of the 3.5m in non property assets with a view to diversifying
Any other pts worth considering.
John
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