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Should I swap from Aegon to Elson Associates?

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returningstowaway
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Should I swap from Aegon to Elson Associates?

#251178

Postby returningstowaway » September 11th, 2019, 7:41 pm

I posted a question in Investment strategies board and was told to try here, so some background is the same.

I hold 18k in an Aegon Stocks and Shares ISA, through which I invest in 5 different funds (HSBC, BlackRock, L&G etc).

When Close Brothers moved across to the Aegon platform, I began to think about moving. I thought the amount Aegon was charging was high.

By their own figures, Aegon were charging me almost 1.5% (made up of Annual charges and intermediary charges).
I decided I’d leave and move to ETFs. But I’ve had some personal challenges this year and haven’t had the chance to look into it.

Now Aegon have written to me saying they are closing their “self-directed intermediated services” and suggesting I move to Elson Associates.

So my questions are:

1) Is it a good idea to move to ETFs? The 5 funds are kind of a jumble that I accumulated over the years, not looking into them too closely. Reading these boards, I sometimes think ETFs are complex from a tax standpoint. I’ve also considered investing for income. Again, need time to consider.

2) Should I move to Elson for the moment, or will that lock me in for some time? I think I’ll have time to look at these investments in detail around November.

3) Can someone with greater knowledge explain simply what “self-directed intermediated services” are. Couldn’t wrap my head around it.


Basically I’m trying to decide if I should move to Elson. I don’t want to, not familiar with the company, but don’t know where to move to otherwise. I can’t stay at Aegon or I think they’ll charge me more.

Thoughts please. Thanks.
Moderator Message:
This topic is duplicated on Investment Strategies. viewtopic.php?p=251134#p251134

Please put any replies there. I am locking this thread.

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