What would a IFA recommend?

6022tivo

gozomark wrote: »

I'm no fan of tied FAs, but being down 20% over the the last year would be nothing to do with being independent or tied

Yep, I understand that., I think I was glad I was put off when I found out about the commission and pulled out to think about it.. That pulling out saved me thousands...

The advice took was to stick it in a savings account, rather than risk it on a collapsing stock market??

Now with interest rates worth nothing.. I don't know what to do...

I would treat myself, but don't know what to treat myself to???

I have Sky HD coming tomorrow, so in a way that is a treat, staying in watching HD movies and sport with a decent bottle of wine.. Don't really need anything else??

EDIT... Doesn't my life sound sad.. lol

whiteflag_3

6022tivo wrote: »

EDIT... Doesn't my life sound sad.. lol

yep

you need lifestyle financial planning advice not investment advice

purch

What would a IFA recommend?

Probably a reasonably balanced spread of Investments that fully takes into account the needs of the Investor and their attitudes to investment.

Whether or not the actual investments do brilliantly, well, quite well, average, not very well, quite poorly, poorly, very poorly or absolute cr*p is outside of their control unfortuneatly, but probably won't stop people moaning about them, or accusing them of all sorts of crimes against humanity.

I know I wouldn't want to be one !!!!

6022tivo

whiteflag wrote: »

yep

you need lifestyle financial planning advice not investment advice

How do I go about that..??

GeorgeHowell

IFAs are probably still pushing equities, perhaps with a bit of corporate bond thrown in. Although equities have been flat on their a**es for the last ten years or more, the IFAs will still try to argue that over the long term they have proved to be the best investment etc etc. In my view the credibility of that argument is now wearing very thin indeed. However the IFAs cannot start recommending mainly cash and start advising people based on the best saving rates in Moneyfacts because it would soon dawn on everyone that they don't need an IFA. IFAs have to steer people towards areas where their alleged expertise in picking funds etc is required. Even the independent IFAs who are paid on a fee only basis will tend to do this for obvious reasons. I'm afraid it's rather like racing tipsters -- if they are really that good at picking investment winners then why are they not living the life of Riley in the Bahamas ?

dunstonh

if they are really that good at picking investment winners then why are they not living the life of Riley in the Bahamas ?

If you were earning £250k a year why would you want to give that up?

gozomark

IFAs will still try to argue that over the long term they have proved to be the best investment

the irony is, the harder it is to prove that, the better the timing is to do it - ie top of market is when its easiest to prove equities are better than cash. On a very long term basis, cash will return maybe 1% more than inflation. Equities will return real GDP growth ie 2.5-3% - ie over the very long term, its easy to see equities outperforming cash by about 1.5-2% per annum. The trick is buying equities when below trend, not above trend - they are currently below trend - not to say they won't go more below trend though

whiteflag_3

dunstonh wrote: »

If you were earning £250k a year why would you want to give that up?

dh you forgot to lol at the end

whiteflag_3

6022tivo wrote: »

How do I go about that..??

google "lifestyle financial planning" would be a start

Lokolo

dunstonh wrote: »

If you were earning £250k a year why would you want to give that up?

I think I chose the wrong career.....