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Apathy

Bydylanbbd

Apathy

The biggest danger that I see all the time – and almost in every direction is APATHY.

On a few occasions when I have been asked to transfer money from a self-invest platform to our advised platform, I come across cases where people have made their investments some time ago and have never changed it in a long time, and they wonder why it is not doing as well as they thought.

We have a number of clients ourselves that we have contacted to ask them for their permission to switch funds from a poor performing one to a better performing one – and we don’t always get a reply – or even a quick reply.

And then there are numerous people that we tell about our investment process that has produced good returns because we are continually watching what funds perform and what ones don’t. We spend a lot of time on our research so that clients can benefit from this with the right selection of funds, what frustrates us is that some people will invariably still go for the cheapest option in the marketplace solely to save money which kind of defeats the purpose of investing, as the saying goes ‘you only get what you pay for’. It would be interesting if those self same people looked at things in say a years time and looked at the return they got from their cheaper option against what M A P might have done – but I suppose that this is viewed as being theoretical. In an ideal world, they would have been able to see that M A P would have given them better value for money – but as stated, for a lot of people this would be theoretical.

To invest money successfully, you need to do your research again and again and again – in fact you don’t stop doing your research. This is how you make money – not doing a one-off bit of research and putting your money into funds and then leaving it there for God knows how long without any changes.

A lot of people start off with the best of intentions, but guess what – that vanishes like the proverbial snow off a dyke given a few weeks and APATHY kicks in.

If you don’t want to look after your investments properly – then give it to M A P who will.

The material is for general information only and does not constitute investment, tax, legal or other form of advice. You should not rely on this information to make (or refrain from making) any decisions. Links to external sites are for information only and do not constitute endorsement. Always obtain independent professional advice for your own particular situation. Money Advice & Planning Ltd is authorised and regulated by the Financial Conduct Authority. For any enquiries, contact Andrew on 07957 836211 or enquiries@mapfinances.co.uk

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