Stock markets, inheritance, i don't understand

[Vlinty]

My mother died in 2024 and father this March. Years before they had made me power of attorney (because my husband works in finance he is a lawyer, so could help me. I am clueless and they knew this.)

After mum died, my DH took over, because my dad had dementia.

He changed a lot of their funds over to higher risk , their financial advisor told me they had always wanted low risk.

We sold the house and dh got me to invest with another fund manager. Take the money out of ns&I as well.

So some money with new advisor, some with old advisor but all higher risk than my parents had it

Now this morning he has told me that everything is down 25%.... obviously because the markets have plummeted following trump's tariffs.

I am so distraught, I have 2 siblings who will want their share of the money. I'm really angry with dh and he now won't talk to mr because I'm panicking and he won't help me - just says I won't listen. When it is him who will not answer a straight question.

Please help me calm down.

The loss only crystallises when they sell. I “lost” a lot on my super, pension and share portfolio when Covid hit. The value is back up now. No loss to report

well maybe they asked for that as they knew they no longer needed the money so instead would be passed down and therefore was effectively no longer for them.
And again they are not high risk but low/medium risk.

You have been badly misinformed. If you sell shares you get the value they are at on the day you sell them.

Don't panic and sell right now though. Wait until markets start to recover. And then some. You've managed without so far.

Did you not read OP?

Hi @Vlinty I’m sorry this has happened and I know very little but there seems to be good advice here. A former colleague has a podcast and a book about simplifying investing that you might want to listen to / read. It’s called ‘the sloth investor’ by RP Stevens. I’ve not read it yet but it’s on my list! Might be helpful in understanding the markets. I have no financial interest in this but thought it might help. Good luck. X

Is this true?

I may be wrong, but I think it might depend on whether the shares were transferred into her name? I think proper financial advice is in order.

Or maybe he was investing as it it was OP's and siblings' money.

Yes I did.
the opening post said higher risk not high risk.
the 5th post said it’s actually low/medium.

higher does not mean high, especially if the starting point was very low.

But won't the siblings want their share? She can't hang on to it for years until the shares regain their value. She made a stupid decision to take investments out of safe areas like gilts and put into risky areas.

People need to stop saying it was a stupid decision. Without the details we don’t know that.

The siblings will receive their share in the form of shares and can then decide what they do with them.

I checked some of my this morning and the stock market is only down to where it was one year ago. I guess if you went for higher risk investments it could be a lot more than this, but standard trackers I doubt it would be much more.

The problem with this sort of stuff is it is a thankless task. Rellys would be all too happy to take the profits if investments go up, but then moan like hell if they go down.

And that's exactly why dh should have left them as parents invested them. Then siblings could not complain. Leave them unless discussing with siblings first and getting their agreement to put them in high risk pots.

You can transfer share ownership. You don’t need to sell them to do that.

Irrespective of DH's attitude to risk, a competent regulated financial adviser will have assessed the capacity for loss and timescale for investment and given that the intention was likely to distribute the assets to the beneficiaries within a reasonably short time scale, will have at least cautioned against excessive risk. Please locate the suitability reports you have been sent by these respective advisers and read them in detail. If they have not provided any commentary on assessing the risk then you may have some grounds for complaint and potential redress.

If this is the case, you must first complain to the advice firm. If you are not satisfied with the outcome, you may refer the complaint to the Financial Ombudsman Service free of charge.

I am sorry for this, but I have a bee in my bonnet about women being in the dark about finances, whether that be voluntary or not. We need to at least understand what is happening, and our views need to be taken into account. Even (maybe especially?) if our DHs have superior experience and industry knowledge.

But it was not their money - it was the parents investment and he changed the risk profile against their wishes.

You haven’t lost anything unless you sell at a loss.

wait until it picks up again

He was asked to look after it and we don’t know the details of what he was asked or not asked to do

This.

“Money, money, money
it’s a rich man’s world….”
sorry you’ve lost your parents

I will base it on what OP has said, not whatever alternate scenario you would like to imagine.

I based it on this:

My parents actively wanted my husband to do it, as they didn't think I could do it, nor my siblings sadly.

Did you not read any if the OPs updates where she clarified that her husband was asked to manage the portfolio by her parents and that it wasn't high risk it was low to medium.

I did not read anywhere where she said they asked for him to move to a high risk strategy (which the financial advisors have clearly said they did not want) and OP has said she is dubious about his claim that it is in low/ medium risk investments.

Despite all the hoo hah in the press I see the ftse 100 has only just reached a 1 year low.