We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Newbie - Help Please! Pushy Financial Advisor
Options

ProudPreston
Posts: 6 Forumite
I took out a PPI policy at the same time as my mortgage through a financial advisor - the policy was with a seperate comany to my mortgage.
At the time i had just spilt up with my ex-girlfried and was going thourgh the motions removing her from the mortage with ended up switching to a new company. The financial advisor i used was pushy and i ended up with policies covering being out of work, death and critical illness. It was only a few years in when i checked and the cost was staggering and i found cover cheaper elsewhere - i assume this was because he was getting a fee of some sort.
Where do i stand with claiming?
At the time i had just spilt up with my ex-girlfried and was going thourgh the motions removing her from the mortage with ended up switching to a new company. The financial advisor i used was pushy and i ended up with policies covering being out of work, death and critical illness. It was only a few years in when i checked and the cost was staggering and i found cover cheaper elsewhere - i assume this was because he was getting a fee of some sort.
Where do i stand with claiming?
0
Comments
-
Loss of job cover for a mortgage is good advice, as is critical illness. Life cover might not have been absolutely necessary but the cost in relation to the CI, which is usually on the same policy is inexpensive.
So that does not suggest a missale.
The mere fact that he was not as cheap as somebody else will not amount to a missale either unless he promoted himself as "whole of market".0 -
Thanks MagpieCottage thought as much - just wish i'd have shopped around and got it at the 'right price'! Oh well lesson learnt!0
-
tied agent (FAs) are typically 25-50% more expensive than IFAs. Cost is not grounds for complaint as mentioned above. You should always avoid using FAs. Use IFAs if you need advice. However, an IFA will still typically be more expensive than DIY as you are paying for advice and administration (not always the case as I have often seen more expensive DIY cases - mostly on investment/pension side).I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 350.7K Banking & Borrowing
- 253K Reduce Debt & Boost Income
- 453.4K Spending & Discounts
- 243.7K Work, Benefits & Business
- 598.5K Mortgages, Homes & Bills
- 176.8K Life & Family
- 256.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards