Investment advice - IFA???????????

slopemaster

Could do with some advice on savings and investment, and wondering whether to see an IFA, but….the thing is, in my (v limited) experience they always advise only to put money into various stocks-and-shares based investments and do not consider alternatives such as cash savings and property.
Well, I can sort cash savings out for myself, but in trying to decide on investments I could do with some advice - specifically help in weighing up property v stocks and shares as a way to try to beat inflation and get an income.
Anyone suggest where I might get such advice???

darkpool

IFAs make their money by selling products, if they don't get commission by recommending property investment they aren't going to do it.

tbh, i think you should go and buy some books on investment. going to an IFA is a bit like going to a car dealer and asking if you should buy a new car.

how much money are you thinking of investing?

Linton

slopemaster wrote: »

Could do with some advice on savings and investment, and wondering whether to see an IFA, but….the thing is, in my (v limited) experience they always advise only to put money into various stocks-and-shares based investments and do not consider alternatives such as cash savings and property.
Well, I can sort cash savings out for myself, but in trying to decide on investments I could do with some advice - specifically help in weighing up property v stocks and shares as a way to try to beat inflation and get an income.
Anyone suggest where I might get such advice???

You can get such advice free by reading and understanding the many finance websites. Apart from MSE, there is Motley Fool which has a very large finance-based forum. Ignore the trolls and those with axes to grind, unfortunately they turn up everywhere. There are also many books available - browse the bookshops.

The next and perhaps most educational thing you can do is to start investing on a small scale yourself. Buy a few shares/funds and see what happens. Increase your amount invested as you get more confidence.

If you have a reasonable amount of money to invest and want to get started quickly you need to talk to an IFA.

dunstonh

, but….the thing is, in my (v limited) experience they always advise only to put money into various stocks-and-shares based investments and do not consider alternatives such as cash savings and property.

IFAs are investment advisers and planners effectively. Not many people pay an IFA to pick a savings account. Property is a non-regulated area and again, not many would consider using an IFA in that area. Indeed, not many IFAs would deal with that area in depth. However, if you wanted to pay for advice on property then I am sure most IFAs would be happy to provide advice.

darkpool

Linton wrote: »

Ignore the trolls and those with axes to grind, unfortunately they turn up everywhere. There are also many books available - browse the bookshops.

If you have a reasonable amount of money to invest and want to get started quickly you need to talk to an IFA.

even worse than the trolls are the people that post here that work in the fund management industry, yet rarely mention it......

Yeah go to an IFA, but also read some of the things written by people who used one firm of IFAs......

http://www.treatingcustomersshabbily.co.uk/index.php

slopemaster

Thanks all, that is helpful.
So basically, I need to make the biggest decision - do I want to invest in S&S or not - before considering whether to see an IFA

dunstonh

Yeah go to an IFA, but also read some of the things written by people who used one firm of IFAs......

http://www.treatingcustomersshabbily.co.uk/index.php

Towry Law is hardly typical of your local IFA.

However, here are some stats to put some context in to the complaints issue.

http://www.ifaonline.co.uk/ifaonline/news/2107079/fos-complaintscondensed-guess-percentage-advisers

slopemaster

Basically, I recently inherited a house.
Also got some savings which were in an account paying over 7% (from final days of Kaupthing edge) but now can't find anything which keeps pace with inflation.

Suspicious of S&S because I don't really understand it, and not sure I really want to invest the time to understand it properly TBH.
The logic of property would be that in the med to long term the capital value should keep pace with inflation. So even if the return is not massive relative to the hassle, at least it is +ve

Downside of property is its massive illiquidity and lumpiness.

SliAbhaile

I resisted going to an IFA for ages mostly on the (groundless) fears you have articulated.

However even in the introductory meeting he teased information from me concerning my tax situation, my partner's tax status, my partner's inheritance situation, legacy for our child etc etc which I am ashamed to admit I did not understand correctly. In subsequent meetings we have put together a strategy which I feel addresses our needs.

Inevitably his investment advice has been more focussed on the funds side of things but we have discussed in detail what proportion of my assets remain in cash and property.

I would say before talking to an IFA you owe it to yourself to understand the difference between the main investment products: shares, funds, bonds etc. There are many books on the subject and reading up first will make your discussions a lot easier and productive for both parties.

darkpool

slopemaster wrote: »

The logic of property would be that in the med to long term the capital value should keep pace with inflation. So even if the return is not massive relative to the hassle, at least it is +ve

there is more to property investment than flats/ houses....

have you considered commercial property? longer leases, no void periods and often the tenant is responsible for maintenance.

have a look at allsop if you're tempted.

Ark_Welder

slopemaster wrote: »

Suspicious of S&S because I don't really understand it, and not sure I really want to invest the time to understand it properly TBH.

Incase you do want to spend a bit of time looking at different investment types then you could start off here: http://www.moneyadviceservice.org.uk/