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Do I need Accountant or Financial advisor or other?
Katykat
Posts: 1,743 Forumite
in Cutting tax
I have EPA for my mother who is about to enter a care home. She has money in the bank and a house.so she has to pay her full fees for the home ( GRRRRR) I want some advice on the best way to get the most from her money ( legal ways obviously) I'd like to know if there are any legal loopholes we can take advantage of, so I've decided to take some proper advice. it will possibly be money well spent. But who is the best person to give me that advice? I'm just an ordinary joe, dont have my own business, pay tax just like my mum has.
:smileyhea A SMILE COSTS ABSOLUTELY NOTHING
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Comments
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Accountant is no good for you as its nothing to do with tax. Financial adviser is the best option. Make sure its an IFA though and not a tied agent (so that rules out the banks for example).I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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As an accountant, I would second Dunston's advice - see an IFA.0
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Thanks both of you. Now, where to get a good one ? Do I look in yellow pages, is that safe enough? I've asked around and I'm not really in a circle of family or friends who "know " anyone. The only IFA's I've dealt with have been mortgage advisors:smileyhea A SMILE COSTS ABSOLUTELY NOTHING0
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There are three categories of regulation. Investment, mortgage and general insurance. IFAs are investment advisers. mortgage advisers are mortgage. Whilst some IFAs will hold mortgage authorisation as well (increasingly less), mortgage advisers do not hold investment authorisation and therefore cannot be IFAs. An adviser that spends most of their time on mortgages isnt what you want. You want an investment specialist IFA.
The uk database of IFAs is www.unbiased.co.uk You can postcode search but dont filter by anything else. The filter is too heavy and wont show adivsers with equal or even higher qualification than that you have chosen.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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