Looking for an IFA & confused already

Geoffo_M

I'm retiring in a little over a year & need to find an IFA. I've seen two websites advertised that they say are best suited todo this, the well-known Unbiased.co.uk and FindAnAdviser.org, which it said was the IFA's own body website. You'd think these were the best, I entered in both that my main requirement was Personal Retirement Planning & the best 4 in each website found completely different IFAs. You'd have hoped they'd have come up with similar results. Which website is most reliable I wonder?

number1silverfox

i am an ifa and unbiased is the best for you. most employers when there staff are retiring either refer them to unbiased or provide them with a list of ifa's in there area from unbiased. they have loads of info on various options and i feel that unbiased is truly unbiased as it is run to promote the benefits of using an ifa rather than a marketing scheme to generate enquires for financial services like other search websites

regards
tony

dunstonh

I've seen two websites advertised that they say are best suited todo this, the well-known Unbiased.co.uk and FindAnAdviser.org, which it said was the IFA's own body website.

Never heard of findanadviser.org and I have been doing this a long time. However, looking at it , it appears to the recent offering by the personal finance society. Unbiased.co.uk has been around from virtually the start and has the biggest coverage as it will show non-paying and paying IFAs (if defaults to only showing paying but you can unselect that option).

I entered in both that my main requirement was Personal Retirement Planning & the best 4 in each website found completely different IFAs.

My guess is that the PFS site will show those that are members of the PFS and have sat CII exams or provided validation of other bodies exams. I have checked my entry on that site and whilst qualification level is correct it shows business areas transacted and fee/commission method. I havent supplied this information and it is not reliable. So, I suspect if is the same with other advisers listed on that site.

Unbiased has a flaw or two in that it only shows paying IFAs as default. You have to unselect it to show all IFAs. Plus, the qualifications list they have is not up to date. A few of the qualifications are missing or are slow to be updated. Plus, the last two times I contacted them to update my qualifications, I didnt get a response. Currently, I am missing 4 qualifications off my list on that site and I suspect the new J0x papers out this year (of which I am doing one) wont be on there any time soon. So, again, it does the job well but the data is not 100% right.

So, the lists are fine but the filters can be a bit restrictive and leave you with limited choice.

Geoffo_M

dunstonh wrote: »

Never heard of findanadviser.org and I have been doing this a long time. However, looking at it , it appears to the recent offering by the personal finance society. Unbiased.co.uk has been around from virtually the start and has the biggest coverage as it will show non-paying and paying IFAs (if defaults to only showing paying but you can unselect that option).


My guess is that the PFS site will show those that are members of the PFS and have sat CII exams or provided validation of other bodies exams. I have checked my entry on that site and whilst qualification level is correct it shows business areas transacted and fee/commission method. I havent supplied this information and it is not reliable. So, I suspect if is the same with other advisers listed on that site.

Unbiased has a flaw or two in that it only shows paying IFAs as default. You have to unselect it to show all IFAs. Plus, the qualifications list they have is not up to date. A few of the qualifications are missing or are slow to be updated. Plus, the last two times I contacted them to update my qualifications, I didnt get a response. Currently, I am missing 4 qualifications off my list on that site and I suspect the new J0x papers out this year (of which I am doing one) wont be on there any time soon. So, again, it does the job well but the data is not 100% right.

So, the lists are fine but the filters can be a bit restrictive and leave you with limited choice.

Thanks dunstonh, very helpful, it appears both have flaws then, the FindAnAdviser only promoting their own members & Unbiased simply not up to date but of the two, probably more useful. Shame really that when so much trouble is made to have our IFAs so well-qualified & knowledgeable, there isn't a website that's completely reliable. You'd have thought it was in the FSA's interest to have operated one wouldn't you. Thanks again for your valuable input.

Geoff