Fnding a trust worthy IFA

jep123

Hi there,

Could anyone tell me how I go about finding a trustworthy IFA?

MGW

I'd suggest finding one who is prepared to work for a fee, and to rebate all commission to you. Once you know their hourly rate, that will concentrate your mind on how to get the best out of them. If you are happy with this idea, you might then want to post the question: "can anyone suggest a good fee-based IFA?".

good luck

MGW

dunstonh

Could anyone tell me how I go about finding a trustworthy IFA?

The majority will be. Just like any field, you will get some that are better than others.

Personally, I would suggest smaller firms rather than salesforce IFAs. Just because there wont be a salesforce mentality. Get to see an owner/partner/director and you are also more likely to get more favourable terms too.

Word of mouth is the best way to find out what an IFA is like.

payless

If in doubt who is part of salesforce and who is not try
http://www.fsa.gov.uk/register-res/html/prof_fsa_fram.html

best search on firm - with fsa reference (or using name or postcode- care latter not always show branches )

You can then see if they are directly regulated or appointed rep ( which can still mean IFA , as many use networks) , then click on individuals , this gives you a idea of the size of the firm.

You can also search by individual names, to get current and past history
BUT Note - for sole traders ( one man band) mortgage and insurance advisers ( rather than investment ) the name search can be slightly misleading, in that it only lists "certain functions" such as investment advisers and controllers of larger firms / REps , and not principals of a one man band.. for example I'm listed as inactive in name search ( as my current role is not classed as a control function- as I dropped investment advice ) .. but active on firm search