Im relatively new to investing. I recently opend a SIPP with ii consolidation 4 pension pots to one and 'betting' all my money on the HSBC FTSE ALL-WORLD (Acc) (i know...😥). That's about £101K now, down from c. £106K when i completed the transfer. I am looking to continue investing for the next 13 yrs and all the research is pointing me to this direction - go for only low cost index fund with global diversification and high % of equity (in my case due to the long-term ride). Research also tell me not to worry when it deeps and keep investing consistently (DCA?).. so I continue to make regular contributions to my SIPP of £1K a month.
At about the same time I opened an ISA with T212. Put some of money in cash and 75% on the S&P 500 (i know 2...😭😭) What was £15K few weeks ago turn in to a big fat minus number, so I've decided not to look at the App for the next few months.
While I am not really panicking, I thing having only one fund in my SIPP and one in the S&S ISA (which are not dissimilar in nature) is a bit thin and not strategic, and that there must be a better portfolio options to consider. I started with these funds knowing that I will now take my time to research and understand better what options I can go for, but so far this has proved quite challenging. I can't quite get a clear answer as to what would be a complimentary investment to add to my current SIPP and S&S ISA funds. The other school of thought saying one fund is all you need! Never mind being boring, it doesn't feel right for me and not what I see most people are going for.
I was also considering working with IFA and met with a few in the last few days. The fees are crazy (1.5% plus initial higher fee) and undermines the whole concept of SIPP, which I liked the idea of. IFAs wants to move the pension to their platforms and there will be penalties for exit in the short terms of few years, so Im not sure I happy with this.
Considering I am not interested in individual stocks, can you advise on what else to invest in for an odd 13 yrs? Would be grateful if people could share their portfolio ideas and explain their strategy, if your have a similar timeframe as me🙏🙏