1.5% too much to pay an IFA?

jem16

feesarefare wrote: »

LOL -so your garage is like most IFA's , they are constantly monitoring your car,even when theiy are on the golf course,sitting in seminars doing exams, servicing other cars, looking for new clients . Yep constantly looking after you

I think you must have been up too late last night as you seem to be a bit confused. Or perhaps I was confused as I assumed you were still talking about the maintenance contract on my car - didn't think you meant the garage would have my car all the time. In other words if it was necessary to have my brak pads replaced at the time of the service I would have been advsided to do so.

I normally only put my car in annually - don't you?

Lokolo

feesarefare wrote: »

Yes, thats why I know they are only looking at it once a year. Where as many IFAs have it all year, but never look at it all, even when they are being paid annually.

This is just getting a bit silly.

You obviuosly have your mind made although Im not sure how you can knock proper financial planning until youve actually experienced it.:)

They will look at it, but they might not change anything... like my car last year (bloody rip off! £40 for an MOT when nothing was wrong with my car )

jem16

feesarefare wrote: »

This is just getting a bit silly.

I agree.

You obviuosly have your mind made although Im not sure how you can knock proper financial planning until youve actually experienced it.

Now I am disappointed in that comment

You asked for details on how I transacted business with my IFA as you were interested. I gave that to you as I thought you were genuinely interested in hearing about a different business model from your own.

I then get comments like this;

feesarefare wrote: »

I suppose for you its a bit like having a "fixed" price contract for your car maintenance, yet sometimes you get a full service and other times they just put air in tyres and you dont really know when your going to get what. It would bug me if I was only ever getting air in my tyres and someone paying the same was getting a full service everytime.

feesarefare wrote: »

It would bug me if I crashed because my brakes failed because the garage just kept filling my tyres and thought I was aware my brakes were on the way out.

feesarefare wrote: »

LOL -so your garage is like most IFA's , they are constantly monitoring your car,even when theiy are on the golf course,sitting in seminars doing exams, servicing other cars, looking for new clients . Yep constantly looking after you

And yet you accuse me of knocking your financial planning service when I have simply answered your suggestions that the service I receive is not, in your opinion, good enough!

Five years ago I sought advice and received a full financial plan that involved putting an investment into place that would meet my objectives. Five years later I am very glad to say it has done exactly that and as absolutely nothing has changed in my circumstances continues to do so.

I am paying 1.5% amc so started off at £1500pa and now at £1950 ( based on £130k valuation now). My initial fee was £1000. This includes the fee paid to my adviser.

So feesarefare - as you are so keen to compare the two models what would it cost me in annual management fees and initial fee to place my £100k investment with you with your full financial planning service and ongoing fees? What would you do for me that you don't feel my current adviser gives me?