Advice on the product that my IFA has suggested

bigfreddiel

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