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Advice on the product that my IFA has suggested

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  • bigfreddiel
    bigfreddiel Posts: 4,263 Forumite
    mogwa101 wrote: »
    He did mention that he would come and see me every 6 months to review things.
    lucky old you - but he won't be doing that for free - even if he doesn't charge directly you'll be paying for it.

    my advice - ditch him - learn a bit from monevator - books and so on and do it yourself - it's not hard and its YOUR MONEY - don't just give it away - remember the ifa is only offering advice - if it fails well jolly bad luck - there's no guarantee for advice

    another tip - keep costs down - use low cost funds/etfs and low cost platforms

    as far as 7%/pa is concerned - no way will your ifas recommendations even get a sniff of that - but you might do it going down a low cost passive investment strategy.

    cheers

    fj
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