Advice on investment advice

mint

I would be grateful on some advice on where I could get some good investments advice please.

I have started with Martin very helpful article :T on the subject: http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1103213261,45760, but I would like to find out more about the other options available out there, such as bonds, etc, etc...

If you have come across interesting information (firstly theoretical and then practical) on how and what to invest a few quid in once you have exhausted the options mentioned by Martin (i.e. mini ISA, regular, savings accounts), then please let me know. :j

All suggestions gratefully appreciated. :A

Cheers! :beer:

dunstonh

I would be grateful on some advice on where I could get some good investments advice please.

www.unbiased.co.uk database covering 90% of the UKs IFAs. You can search by postcode to find your nearest ones. Do not try and filter by qualification as that method is flawed and can result in not finding an IFA local to you even if there is one a few doors away!

mint

many thanks dunstohn - i take it you suggest that i speak to an IFA. i think taht is a good suggestion, but i would also like to do my own research so that i could make the most of a discussion with an IFA.

it all kind of started when i saw an add by a bank offering guaranteed capital bonds and protected bonds: I wanted to know what they are and how they compare to otehr investment vehicles?

cheerfulcat

Hi, mint,

The best place to start is the Motley Fool

Tip - never buy a product from a bank.

mint

That's exactly the kind of info that I am after - many thanks cheerfulcat!

Should you know of other places like that, i would be grateful if let me know.

mint

oh, by teh way - although I can understand what you mean in principle by saying that I should not buy any products from banks, how else then I should go about investing, if not through some sort of broking agent?

dunstonh

mint wrote:

oh, by teh way - although I can understand what you mean in principle by saying that I should not buy any products from banks, how else then I should go about investing, if not through some sort of broking agent?

You either buy from a bank, direct or through an IFA. However, some investments would require a stockbroker.

banks are tied to one provider and they operate salesforces. Salesforces of any type should be avoided, tied ones even more so.

There are about 13 tax wrappers in the UK for investments. However, what you put inside those tax wrappers is much the same now or has similar principles. Often you should be looking at where and how you wish to invest and then look at the appropriate tax wrapper to achieve that within.

ReportInvestor

Through a discount broker once you have done your internet research to find the best funds.

cheerfulcat

Hi, mint,

There's Incademy as well. I have done a lot of reading, which I found invaluable; I'll draw you up a book list if you're interested.

how else then I should go about investing, if not through some sort of broking agent?

Through a stock broker or discount broker/non advisory IFA. Banks mostly sell their own or associated products which are, I think it's safe to say, almost invariably rubbish. Some do have a share dealing service but they are usually very expensive compared to online brokers.

HTH

Cheerfulcat

dunstonh

for balance, a discount broker is not a real term. It is an IFA who offers business on discounted terms. Many IFAs do this but when the term discount broker is used here, it tends to refer to a select few IFA companies who will take your instructions and place the business on very good discount terms but on execution only basis.

Execution only means you get no consumer protection if the product and funds you chose were not most suitable for you. The advice channel gives you that protection. It is possible to get the business transacted with advice with discounts. You may find that peace of mind when combined with your own research is worth the small price to pay. The price could be as little as 1% of your investment value.

Whilst some here think you should go for the cheapest all the time. It isnt always about cheap but value for money. If you get the service you need from that 1% initial charge, it can be worth far more in the long term.

Ted_Bloke

dunstonh wrote:

Execution only means you get no consumer protection if the product and funds you chose were not most suitable for you. The advice channel gives you that protection. ..

:huh:
I'm not necessarily against your main conclusions, but could you please clarify? Surely if you pay for advice what you get, all you get, is advice, not consumer protection? Unless it was very gross negligence surely it is so subjective and so uncertain it would be impossible to prove funds not most suitable for you in an uncertain world, and won't most advice come with provisos like funds can go down as well as up, this is a volatile sector, be prepared for a roller-coaster ride, or this is a very cautious sector you shouldn't lose much but you might not gain much? Fair enough, but maybe the words 'consumer protection' suggest more than that to some ppl? Just askin.