I am thinking of looking for a new wealth manager for savings and pensions, but would like to hear from other forum users about wealth managers they have used and whether they have been useful in helping them multiply their weath as well as give them a decent income.

We are OAPs, but have an occupational pension as well as other investment income, but have grown a little disillusioned with our present manager and would like to explore the market.

Finally, has anybody any idea on what sort of cost we are likely to incur as a result of leaving our presenrt manager. suspect it will be a percentage of our total amount with the manager.

the wealth managers are making your money make them your money
DIY

"has anybody any idea on what sort of cost we are likely to incur as a result of leaving our present manager. suspect it will be a percentage of our total amount with the manager."

You should be able to find the cost out from the initial paperwork when you first signed up with your current Wealth Manager, or from their website. It is probably buried deep within the small print!

I would hope that the cost is limited to selling your holdings (assuming you are in your Wealth Manager's in-house funds) and an admin cost of transferring the cash to your new Wealth Manager. If your funds are in the market. i.e not in in-house funds, then I suspect the cost will be an admin fee for transferring each of the funds (assuming your new Wealth Manger accepts them).

I can not comment on suitable Wealth Managers, as I do not use one. But if you are unhappy a word with your current one on levels of returns and high fees may bear some fruit.

Good luck

What Bellabeck said.

A relative (seven figure portfolio) used a CFP (quite a small local company, via word of mouth recommendation) to arrange a small "beauty contest" of potential DWM companies. They ended up going with Brewin Dolphin (BD) paying 0.8% of AUM (plus fund charges and infrequent dealing fees), made up of 0.6% to BD and 0.2% to the CFP (actually, I think they pay less than that above their first million). Relative seems happy; their portfolio value tracks its WMA benchmark well enough after charges. I'm impressed that a significant proportion of their bond holdings are direct, reducing impact of charges. Sensible stuff re things like use of CGT and IHT allowances seems to get discussed at their biannual meetings.

They'd previously used another manager (Barclays Wealth?) but they'd wanted to put their prices up significantly. Fortunately they gave a window of opportunity to get out for free due to the change in terms and conditions and my relative took advantage of that; not sure what it'd have cost them to move otherwise.

You are very right that Wealth Managers don’t have the flexibility a Fund Manager has.
My view (many years experience both sides) is select 5-10 conventional global Investment Trusts standing on high discounts. This will give you an amazing spread throughout the World and at a good discount....,most other investors prefer to chase past performance/flavour of month which hold a similar spread.