Financial Adviser?

angel001

Hi

I need to cash in my endowment early. Have contacted a couple of recommended places to find out about selling it. Haven't heard anything.
Should I go to a local financial adviser to see if they can help me sell it or just surrender it - I'm making a loss but them's the breaks?

Thanks for any replies.

thriftymomma

Knowledge is power. I would speak to an IFA.

theartfullodger

thriftymomma stated

Knowledge is power. I would speak to an IFA.

I agree: However I would do further: I would speak to several IFAs.

And "Independent Financial Adviser": There is no such thing as an independent Financial Adviser... they all have favourites, legitimate or bent favourites, they all need an income and will be influenced, one way or another, by the way they get £££

There are specialist companies who buy endowments: However the premium over a straight surrender is much less than it used to be.. Alternatively you could convert it to a PUP (Paid Up Policy) so it sits there with life-cover (in case you drop dead) until the normal end date, but with (hopefully) increasing bonuses (sometimes) and no more premiums...

Google will find buyers for endowments..

Cheers!

Lodger

Dan_1976

I think you will find it hard for an IFA or any financial adviser that will tell you to cash it in. What if you cash it in after getting advice and you find out you have lost shed loads of cash, ok unlikely but in our blame society?!?!?!

Ps. Your talking rubbish, well a bit, theartfullodger

_Andy_

theartfullodger wrote: »

And "Independent Financial Adviser": There is no such thing as an independent Financial Adviser... they all have favourites, legitimate or bent favourites, they all need an income and will be influenced, one way or another, by the way they get £££

Not if they're fee based.