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  • FIRST POST
    • capital0ne
    • By capital0ne 2nd Dec 17, 4:27 PM
    • 324Posts
    • 158Thanks
    capital0ne
    Do IFAs take their own advice?
    • #1
    • 2nd Dec 17, 4:27 PM
    Do IFAs take their own advice? 2nd Dec 17 at 4:27 PM
    Why do IFA's work or even exist, surely if they took their own advice the could design a plan to provide all of their income, once of course they had created the capital they needed.

    They can't be doing it as a service to us ill-informed masses because their fees are so high.

    Just a thought for dismal Saturday afternoon
Page 2
    • Thrugelmir
    • By Thrugelmir 3rd Dec 17, 9:50 PM
    • 57,535 Posts
    • 50,828 Thanks
    Thrugelmir
    Only a small few can actually cut it - good old WB for one.
    Originally posted by capital0ne
    Not sure how you can compare WB to a private investor starting off with no capital base. Muddled thinking.
    Financial disasters happen when the last person who can remember what went wrong last time has left the building.
    • username12345678
    • By username12345678 4th Dec 17, 12:58 AM
    • 189 Posts
    • 97 Thanks
    username12345678
    IFA's get a bit of a tough ride on here (and other financial sites) but they provide a service to people who either don't have the ability to navigate a financial course through their lives or can't be bothered to learn how to do so.

    It isn't rocket science and all the resources a person would need to educate themselves are available online.

    That said, paying for advice is far better than going it alone and costing yourself far more than the IFA's fee would have been.
    • mariana_m86
    • By mariana_m86 16th Dec 17, 2:29 PM
    • 26 Posts
    • 1 Thanks
    mariana_m86
    You need money to make money. Why would an IFA stop working if they are happy with the job and it continues to provide 6 digit income?

    How about you asking all the DIY investors why they are not working as the same would apply to them.
    Originally posted by dunstonh
    Hi
    I hope you are fine.

    Iíve been doing an online research because I want to jump to the financial sector in order to find a job within the next 2 years, but Iíd like hear real people, I am trying to choose between being a Financial Adviser or an Independent Financial Adviser, I know both are different, and my online research has shown me that:

    a) A Financial Adviser can work on a tied or multi-tied mode, only offering your own companyís financial products or products from a specific number of companies, the income is a salary received from the bank or the company for which you work, you can also earn commissions from the products you sell (exceptions are Pensions, Investments, or Retirement income products such as annuities) and the work schedules are the normal office hours with some work on Saturday mornings.

    b) And as an Independent Financial Adviser you work with all financial products on the market, the salary depends on the number of advised clients who are charged a fee but you can also receive income by earning commissions from the products you sell (exceptions are Pensions, Investments, or Retirement income products such as annuities), and you probably have to work from home or travel to meet clients in their own homes and will often have to work nights and weekends to be able to match the needs of the clients.

    But I would be very grateful if you would give me some answers able to give me an ample understanding on the next questions:

    1) In which of both I can find more job offers?
    2) Which is the one that gives the most financial advices to clients?
    3) Is it possible to receive a constant income -monthly salary, for instance- as an IFA working for an IFA company?
    4) Is it true that working shifts as an IFA are as not smooth as described- nights and weekends and travel to meet clients in their own homes-?
    5) As an IFA can I work at the same time -in the same company- with other IFAs in charge of Pensions, Investments, mortgages, equity release and insurance areas to broaden my network?
    6) Is it necessary to choose from the beginning the area of oneís work for the long term -Pensions, Investments, mortgages, equity release, insurance, retirement-? Or is it possible to choose one at the beginning and then change to another area -Pensions, Investments, mortgages, equity release or insurance- in the same company or move to another company that works with another area? Will that damage my income or the progress of my professional career?
    7) Is it possible to work as an IFA in a company where you can learn of pensions, Investments, mortgages, equity release, general insurance and retirement and all of them at that same company?

    I know they're a lot of questions, I apologise for that, but they are just coming from a person concerned about avoiding to choose something that will not suit me in the long term.

    Thanks in advance.
    • capital0ne
    • By capital0ne 16th Dec 17, 6:02 PM
    • 324 Posts
    • 158 Thanks
    capital0ne
    Not sure how you can compare WB to a private investor starting off with no capital base. Muddled thinking.
    Originally posted by Thrugelmir
    Actually WB started out as a private investor just like us, he however was more dedicated
    • Thrugelmir
    • By Thrugelmir 16th Dec 17, 6:10 PM
    • 57,535 Posts
    • 50,828 Thanks
    Thrugelmir
    Actually WB started out as a private investor just like us, he however was more dedicated
    Originally posted by capital0ne
    Started as an entrepreneur. Therefore I agree far more dedicated than a private investor. As made things happen for himself. Rather than expecting gold to simply grow on trees with no effort at all..
    Financial disasters happen when the last person who can remember what went wrong last time has left the building.
    • mariana_m86
    • By mariana_m86 18th Dec 17, 4:45 PM
    • 26 Posts
    • 1 Thanks
    mariana_m86
    Being an IFA doesn't make a large enough pot of money to retire on miraculously appear it of thin air. That's why IFAs work: to generate the capital need to retire throughout a hopefully productive working life.

    Don't use one if you think the fee are too high, noone will make you.
    Originally posted by Aegis
    Hi Aegis,
    I hope you are fine.

    I know my next post is not related to the original one, but I am trying to get some advises from an IFA, I published the same next post in the savings/investment board and I just got one answer, so that's why I am contacting you here in order to get a second opinion.

    Iíve been doing an online research because I want to jump to the financial sector in order to find a job within the next 2 years, but Iíd like hear real people, I am trying to choose between being a Financial Adviser or an Independent Financial Adviser, I know both are different, and my online research has shown me that:

    a) A Financial Adviser can work on a tied or multi-tied mode, only offering your own companyís financial products or products from a specific number of companies, the income is a salary received from the bank or the company for which you work, you can also earn commissions from the products you sell (exceptions are Pensions, Investments, or Retirement income products such as annuities) and the work schedules are the normal office hours with some work on Saturday mornings.

    b) And as an Independent Financial Adviser you work with all financial products on the market, the salary depends on the number of advised clients who are charged a fee but you can also receive income by earning commissions from the products you sell (exceptions are Pensions, Investments, or Retirement income products such as annuities), and you probably have to work from home or travel to meet clients in their own homes and will often have to work nights and weekends to be able to match the needs of the clients.

    But I would be very grateful if you would give me some answers able to give me an ample understanding on the next questions:

    1) In which of both I can find more job offers?
    2) Which is the one that gives the most financial advices to clients?
    3) Is it possible to receive a constant income -monthly salary, for instance- as an IFA working for an IFA company?
    4) Is it true that working times as an IFA are as not smooth as described- nights and weekends and travel to meet clients in their own homes-?
    5) As an IFA can I work at the same time -in the same company- with other IFAs in charge of Pensions, Investments, mortgages, equity release and insurance areas to broaden my network?
    6) Is it necessary to choose from the beginning the area of oneís work for the long term -Pensions, Investments, mortgages, equity release, insurance, retirement-? Or is it possible to choose one at the beginning and then change to another area -Pensions, Investments, mortgages, equity release or insurance- in the same company or move to another company that works with another area? Will that damage my income or the progress of my professional career?
    7) Is it possible to work as an IFA in a company where you can learn of pensions, Investments, mortgages, equity release, general insurance and retirement and all of them at that same company?

    I know they're a lot of questions, I apologise for that, but they are just coming from a person concerned about avoiding to choose something that will not suit me in the long term.

    Thanks in advance.
    • Ray Singh-Blue
    • By Ray Singh-Blue 18th Dec 17, 9:43 PM
    • 367 Posts
    • 484 Thanks
    Ray Singh-Blue
    It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest. - Adam Smith.

    Nowt wrong with that.
    • BananaRepublic
    • By BananaRepublic 19th Dec 17, 10:59 AM
    • 1,174 Posts
    • 851 Thanks
    BananaRepublic
    Hi Aegis,
    I hope you are fine.

    I know my next post is not related to the original one, but I am trying to get some advises from an IFA, I published the same next post in the savings/investment board and I just got one answer, so that's why I am contacting you here in order to get a second opinion.

    Iíve been doing an online research because I want to jump to the financial sector in order to find a job within the next 2 years, but Iíd like hear real people, I am trying to choose between being a Financial Adviser or an Independent Financial Adviser, I know both are different, and my online research has shown me that:

    a) A Financial Adviser can work on a tied or multi-tied mode, only offering your own companyís financial products or products from a specific number of companies, the income is a salary received from the bank or the company for which you work, you can also earn commissions from the products you sell (exceptions are Pensions, Investments, or Retirement income products such as annuities) and the work schedules are the normal office hours with some work on Saturday mornings.

    b) And as an Independent Financial Adviser you work with all financial products on the market, the salary depends on the number of advised clients who are charged a fee but you can also receive income by earning commissions from the products you sell (exceptions are Pensions, Investments, or Retirement income products such as annuities), and you probably have to work from home or travel to meet clients in their own homes and will often have to work nights and weekends to be able to match the needs of the clients.

    But I would be very grateful if you would give me some answers able to give me an ample understanding on the next questions:

    1) In which of both I can find more job offers?
    2) Which is the one that gives the most financial advices to clients?
    3) Is it possible to receive a constant income -monthly salary, for instance- as an IFA working for an IFA company?
    4) Is it true that working times as an IFA are as not smooth as described- nights and weekends and travel to meet clients in their own homes-?
    5) As an IFA can I work at the same time -in the same company- with other IFAs in charge of Pensions, Investments, mortgages, equity release and insurance areas to broaden my network?
    6) Is it necessary to choose from the beginning the area of oneís work for the long term -Pensions, Investments, mortgages, equity release, insurance, retirement-? Or is it possible to choose one at the beginning and then change to another area -Pensions, Investments, mortgages, equity release or insurance- in the same company or move to another company that works with another area? Will that damage my income or the progress of my professional career?
    7) Is it possible to work as an IFA in a company where you can learn of pensions, Investments, mortgages, equity release, general insurance and retirement and all of them at that same company?

    I know they're a lot of questions, I apologise for that, but they are just coming from a person concerned about avoiding to choose something that will not suit me in the long term.

    Thanks in advance.
    Originally posted by mariana_m86
    How many more times are you going to post exactly the same text?
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