can dh transfer our joint portfolio?

[yellowbean]

I am in the process of seperating.... we have a joint portfolio of investments... ire some in my name, some in his... he is asking OUR financial adviser to advise him on what is in his best interests for the divorce and is also transferring our portfolio to this FA....Does he need my permission to transfer?

Also... dh and i had agreed that we would get amicable financial advice together to talk thru our options, but i find out that he has made an appointment in secret. Now, given that the investments are likely to go to my husband, (ie its in the fa's interests to represent him slightly more fairly than me!), is there any point in me asking him for independent advice also??

thanks

I should think that yes, he would need your permission to transfer at least the portion of your portfolio in your name. Not sure if you can use the same IFA, I suspect there may be ethical considerations. But it might be an idea to see him and make sure he knows what's going on.

what worries me is that our IFA knows about our seperation and is happily meeting my h, away from our home, on his own.... ethically he cant really advise both of us??

I'm not certain, but a lawyer definitley can't act for both sides in a divorce, I would imagine it's the same for an IFA. Advice which would benefit your DH may not benefit you. Perhaps you should engage another one?

Joint assets need joint consent to be moved. However these are not joint assets if some are in his name some are in yours (ISA'S ?)

He can move 'his' assets where he wants, but they will all end up in the pot when/if you divorce.

The financial advisor can provide information to your husband, but division of assets including pensions will be decided upon by the court (usually with actuarial calc's to ensure 'fairness of outcome'). The most contentious investment/asset is a final salary (defined benefit) pension, most other investments are easily valued and therefore easily divided. If either of you have a final salary pension I would get proper advice yourself. A divorce lawyer will undoubtedly have a contact (actuary/IFA).

If I were you I would email the advisor and state clearly that you do not wish to take any action relating to your investments and will not hesitate to involve the financial ombudsman should any conflict of interest or additional cost occur (may be slightly meaningless, but would put your objection in writing and also put the wind up him).