Consolidation can help you tie together all those financial loose ends
Regular reviews of your portfolio might be a very sensible way to make sure your portfolio remains in line with what you set out to achieve. However, tracking down details for all the different pensions and investment plans you’ve accrued can be a time consuming and frustrating process. And the resulting paperwork can take up quite a lot of room.
Thanks to technology and ever-increasing access to the internet, however, there is now an alternative. Rather than holding those pensions and investments separately, you can now opt to consolidate many of them into one place.
Called a ‘Platform’, this service is effectively a one-stop shop for your ISAs, Pensions, funds and, where appropriate, even shareholdings. Once transferred, you can access and manage all of those products from a single location.
A single view of your net worth, across the different products
Access to consolidated valuations
A secure access point for adding, switching or withdrawing funds
A wide range of investment choices, covering all the main asset classes
Consolidated paperwork – also with online, paperless filing
Many platforms can also offer lower fees than you may find on your existing investment products, even for exactly the same fund - particularly if you have held that fund for a few years.
At A&J Wealth Management, we understand that platforms are not necessarily suitable for everyone. If you are thinking about moving an investment, you first need to check there are no ‘exit’ penalties for making a transfer.
However, where they are suitable, we believe the combination of administrative and potential costs benefits could be significant. No more call centre queues or delays waiting for postal valuations that are already out of date. The information you need will be at both your and your adviser’s fingertips, whenever you need it, helping you see much more clearly how your plans are progressing – and what might still need to be done.
As part of our advice consultation, therefore, we help assess what you have in various different places, what might benefit from transfer and what should be left where it is.