New to investments

Lokolo

feesarefare wrote: »

Who mentioned excel spreadsheets?

http://www.financialplanningweek.org.uk/financial-planning/Financial-Planning-Software.cfm

Stick to commenting on things you have knowledge about.

But then again as a transactional salesman your quite happy to speak about things that you have no knowledge/qualifications in.

Eh? But thats is an excel spreadsheet...

dunstonh

Who mentioned excel spreadsheets?

http://www.financialplanningweek.org...g-Software.cfm

Stick to commenting on things you have knowledge about.

Which is a graphical front end to a spreadsheet. Dont try and kid yourself that its anything different.

But then again as a transactional salesman your quite happy to speak about things that you have no knowledge/qualifications in.

You dont know my business, my qualifications or my knowledge. You certainly cannot accuse me of being transactional based on my posts. Indeed, you have been critical of servicing so why you choose to lie now I don't know. Still thats typical of CFPs.

Why the hostility towards the qualified IFA's?

No problems towards IFAs. Just CFPs who are typically anal because they think their business model is better than everyone elses and anyone else who isnt a CFP is inferior.

feesarefare

dunstonh wrote: »

Which is a graphical front end to a spreadsheet. Dont try and kid yourself that its anything different.

I dont need to kid myself as I know how it works.

You dont know my business, my qualifications or my knowledge. You certainly cannot accuse me of being transactional based on my posts. Indeed, you have been critical of servicing so why you choose to lie now I don't know. Still thats typical of CFPs.

But from your posts you appear transactional. You are always trying to justify the product sale

You appear to have a nasty habit of calling people with a differing view to you liars.

No problems towards IFAs. Just CFPs who are typically anal because they think their business model is better than everyone elses and anyone else who isnt a CFP is inferior

Thats because they (most IFAS)are inferior- most IFAs dont have a definable business model or have any qualifications above the absolute minimum. Name any other profession where people with higher level qualifications are seen as inferior?

dunstonh

But from your posts you appear transactional. You are always trying to justify the product sale

You mean I answer the questions that people ask. You on the other hand just try to criticise everything.

You appear to have a nasty habit of calling people with a differing view to you liars.

At least I havent been banned from the board before, like you have. You constantly criticise any type of adviser that doesnt work the same way as you. You rarely help anyone who posts here.

Thats because they (most IFAS)are inferior- most IFAs dont have a definable business model or have any qualifications above the absolute minimum. Name any other profession where people with higher level qualifications are seen as inferior?

See what I mean. Criticising most other advisers. And a God like complex as well by thinking that CFP is superior to other qualifications. You dont need chartered status to be a CFP. You dont even need diploma level. A certificate level adviser could be a CFP.

That said, my issue it not with the CFP itself as any qualification that someone sits is to be commended. its purely the attitude that many that hold this particular "qualfication" have towards others. You fit that perfectly.

feesarefare

dunstonh wrote: »

You on the other hand just try to criticise everything.

well its not too difficult to find fault with most of the "advice" posters have received from their IFA.

You constantly criticise any type of adviser that doesnt work the same way as you. You rarely help anyone who posts here.

Surely making people aware that not all IFAs are the same is not a crime. Its a fact that most dont hold any relevant investment qualifications - if you are telling people to go to an IFA to get investment advice then I think its only fair to make them aware of the facts.

See what I mean.

Nope

Criticising most other advisers. And a God like complex as well by thinking that CFP is superior to other qualifications. You dont need chartered status to be a CFP. You dont even need diploma level. A certificate level adviser could be a CFP.

and you dont need investment qualifications to give investment advice.

That said, my issue it not with the CFP itself as any qualification that someone sits is to be commended. its purely the attitude that many that hold this particular "qualfication" have towards others. You fit that perfectly

In other words youve got chip on your shoulder- thanks for making that clear.

jamesd

feesarefare wrote: »

Using lifetime cashflow forecasting can mean the shortfall and inflation risk can be managed/avoided. The problem is most IFAs wouldnt want you to know that, so choose not to use the tools.

Better to tell you there is a risk (even if there isnt) so you invest in a commission based product.

So, for the poster who asked the question, are you asserting that there is an avoidable risk here, based on their specific situation?

You're giving the impression that all you're doing is posting to criticise dunstonh, rather than trying to address the situation of the questioner.

A financial planning spreadsheet is a good thing, I use one myself to see how close I am to meeting my objectives. I rather like the premise of the Truth software as well.

pqrdef

KiKi wrote: »

I think I'll just start off with baby steps and convince her to use her S&S ISA allowance this year!

What are you going to do when it goes down and she panics and wants it cashed in?

feesarefare

jamesd wrote: »

So, for the poster who asked the question, are you asserting that there is an avoidable risk here, based on their specific situation?[/[/QUOTE

Yes, if your have a plan and you work out the rate of return required to maintain your capital or not run out of money then you can invest accordingly. If a 2% return means you can sit on the beach worry free why go looking for 7% (because of inflation risk!!) and then be worrying everytime you see bad news about the markets. Peace of mind is what most people want.

You're giving the impression that all you're doing is posting to criticise dunstonh, rather than trying to address the situation of the questioner.

Where? defending post number no 20 i think youll find.

A financial planning spreadsheet is a good thing, I use one myself to see how close I am to meeting my objectives.

So how do advisers who actually charge people for their advice know that their clients are meeting their objective without using the same tools as you?

I rather like the premise of the Truth software as well

have you had a chance to look at the link?

jamesd

Yes, if 2% would do the job that might well be fine. From the little information here I doubt that it'll be sufficient in this case, but maybe. I expect an IFA to consider the whole situation of their client, including using various tools to alert them to risks, if that's the service they are buying. And I expect the IFA to decline the job if it's beyond their knowledge.

Looking at the link isn't possible because it's always producing a server error of one sort or another. Maybe it'll be working later.

KiKi

pqrdef wrote: »

What are you going to do when it goes down and she panics and wants it cashed in?

As far as my advice to her goes, it won't get to that point. If she can't see it as a long-term investment which has to weather the good and the bad, then I won't be encouraging her to do it at all! If she chooses to go ahead without understanding that - although I can't imagine she would, being so risk averse - I won't be responsible for her panic! To answer your question, though, I would advise her not to cash it in.

Thanks again for all the advice, I'm confident I have enough to chat with her now.

As for the IFA / CFP argument, I can't comment on the qualifications; as with many industries I'm sure it's as much about the personalities involved and their understanding of customer needs and their own integrity as anything. What I *will* say is that from a personal perspective I've always found dunstonh to offer very professional advice on this forum.

KiKi