Personel Investment

luckeybrum

I had £22,000 invested in Halifax Personal Investment Plan, with the current Financial crisis, I have found that it is not a very good fund to be in and my investment is now down to £17,400. I have contacted a Indepent Financial Advisor, who has offered to find me a better Investment fund for a price of £680 4%. I donot know what to do?. I took the first advice on good faith, Does this sound a reasonable quote for his services, as I have never had dealings with a financial advisor and dont know what to do. Can anybody please give me a helping hand on what to do

Stavros_3

Wife and I met with our IFA yesterday on an investment strategy for growth. Long established company and their fees are 3% fixed on any amount invested.

dunstonh

4% is high but £680 isnt a lot when you consider the work required.

3% is the typical maximum you look at. 1.8% is the average. Larger amounts tend to find it easier to get discounts than smaller amounts.

luckeybrum

Thanks for your reply. I was not sure what a reasonable price would be. I was advices to put the money into investment to get a better rate of return. So far I feel out of my depth and my money disappearing, How do I know I am doing the right thing