If you were to seek financial advice...

SavingisFun

How would you feel if the adviser turned up and was (much?) younger than yourself and was around 22-25.

Would his age be of concern to you? Or would you be more interested in his competence on the job rather this age?

I suppose this could be relevent to other occupations of similar nature.

DiggerUK

If I was to seek financial advice, then it means the world as we know it is about to end, and I have given up all hope.

There can be a debate, asking if the price of gold has peaked.

But the question you need to put to the Independent Financial Adviser at your door, is why they did not advise anybody, at any time, in the last 10 years of the biggest rise in gold prices, to invest in gold.
Therefore missing some of the biggest profits to be gained over that time period.

Strange when you think about it.
Then again, it could be they haven't got a clue what they are talking about, and are just after fees and commissions.

dunstonh

But the question you need to put to the Independent Financial Adviser at your door, is why they did not advise anybody, at any time, in the last 10 years of the biggest rise in gold prices, to invest in gold.
Therefore missing some of the biggest profits to be gained over that time period.

If someone was to ask me that question and expect a serious answer I would withdraw my offer to provide service and leave. That sort of person doesnt want a financial adviser. They want the old lady on the pier with the crystal ball. They would probably be the first to complain as well when you dont guess the point in which Gold drops in price or you miss the next unknown best thing.

Would his age be of concern to you? Or would you be more interested in his competence on the job rather this age?

I became qualified at 23. Like most at that age you think you are invincible. However, looking back, I reckon it took at least 2 years for the basic knowledge to sink in. The knowledge is in application of what you learn in the real world. It also helps when you have been through a few stockmarket crashes and you have seen the negatives that can happen. If you have only experienced the good times, you begin to think thats the norm.

So, I wouldn't necessarily rule out seeing a 23 year old as long as they are not an FA (should always be IFA - knowledge level is likely to be higher) and they have experience.

I suppose this could be relevent to other occupations of similar nature.

It is. Knowledge is gained through experience and application in many jobs.

Primrose

I'd like to think that I'm reasonably competent at managing my own financial affairs. But if I needed a financial advisor, not being ageist - but I think I would feel far more somfortable with somebody with a few grey hairs. That would signify that he or she had lived though a few previous recessions, seen a few financial scandals, stockmarket/insurance companies etc collapse, and would know what he/she was talking about from first hand experience. That person would also have learned some valuable lessons along the way, (like we all do over a lifetime's working experience) which hopefully they would be bearing in mind when giving me advice.

Similarly, if I had to undergo a surgical operation, I'd prefer my surgeon to have a few grey hairs. That would hopefully indicate he'd had a lot of experience at that kind of thing and the knowledge & experience to do a competent job!

lilac_lady

The best financial advisor is one that has been personally recommended to you. Age shouldn't be factor but I'd agree that maturity is a positive trait in this scenario. (makes a change!)

jem16

SavingisFun wrote: »

How would you feel if the adviser turned up and was (much?) younger than yourself and was around 22-25

Personally I would hope he/she was much younger than me but that's because I'm older.

I would want to be able to build up a relationship with the adviser so I wouldn't want him/her to be about to retire. Financial advice shouldn't just be about sort it out then ignore it thereafter - I would be looking for ongoing advice.

Would his age be of concern to you? Or would you be more interested in his competence on the job rather this age?

Competence would be more of a concern so I would look for someone with a bit of experience rather than just newly qualified.