halifax financial adviser fees.

jamesd

Best to shop around a bit more. Then you can see who you're most comfortable with and negotiate a price that seems fair.

For your situation the big draw to any IFA should be the 0.5% annual commission from the investments. And at least some would probably be willing to discount even that and all but a couple of thousand of initial fee to get your business.

A substantial amount of money for a very long time is a big reward to any IFA who can treat you properly. 5,000 a year in annual commission for life if they do a good job for you and get the full 0.5%. That is, 416 a month, every month, for as long as you're a customer.

So definitely room to negotiate on both initial and ongoing payments once you've found one that you're most comfortable with.

swiss69

Interesting thread this one- Did you come to a conclusion and find a better deal?

There are also a lot of generalisations on here about the standard of advisors at banks and Ifa's.

My view is that both have very good advisors and both have very poor advisors. I worked until recently as an advisor for 20 years at a bank and am qualified to diploma level with an additional Investment management certificate (IMC). I also worked with some people who were chartered level. On that size investment the bank I used to work for would have charged around 0.6% upfront (£6000) and 0.5% per year to manage (£5000). It is certainly not always the case that banks adopt the greedy approach. The Investment proposition was pretty strong too with a manager of managers approach.

I didnt work for them but my understanding of HBOS is that at that level you should have been referred to Bosis , their investment arm and as far as I know they dont charge upfront fees.

I also have a friend who works for Coutts and from what I hear they are extremely well qualified and can construct portfolios that many IFA's would not even consider.

I would just say be very careful who you select. A personal referral may be the way forward from someone you know who has received good advice in the past. Alternatively the solicitor who helped win your case may know a firm that they deal with who can help. Many accountancy practices have IFA arms who charge fees for the work they do rather than take commission.

Good Luck