Should I leave Aegon for Elson Associates?

[returningstowaway]

Would anyone be able to help me with this. If I’ve posted in the wrong place, so sorry.

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 wanted to move. I thought what 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 investigate.

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.

Cheers.

[Alaric]

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.

Cheers.

1) It might be. It depends where you stand on "active" v "passive" fund management. If held in a ISA, tax complexities have no effect.

2] You can separate the platform (Aegon/Elson) from the investments (ETFs/OEICs). They shouldn't lock you in, but check their small print and charges.

3) I think it means that you are in charge of the investments in the sense that you choose the funds.

Depending on what funds you have, you should be able to move to any platform. Ask opinions on the Brokers board. Elson is not a name that springs to mind as a mainstream popular platform.

[returningstowaway]

1) I’m definitely in the passive camp.

Thanks Alaric. I’ll ask on the Brokers board now.