Is this acceptable?

jem16

doughnutmachine wrote: »

tbh there hardly ever seems anyone posting on here with a good experience of an IFA.... i'm sure there are good IFAs but you wouldn't know it by reading this board.

That's the nature of forums. You very rarely find anyone praising anything. People come onto a forum because they have a problem that they want fixing.

Zebra

jem16 wrote: »

My understanding is that the OP still has the Architas investment but I may be wrong.

From what she's said:

craftmoney13 wrote: »

What I had was a S+S ISA with Architas and a savings account with Halifax.

craftmoney13 wrote: »

what I have is a capital protected fund 21 shareclass M accumulation and cautious growth shareclass D accumulation.

http://www.morningstar.co.uk/uk/funds/snapshot/snapshot.aspx?id=F00000NL84&tab=1

http://www.morningstar.co.uk/uk/funds/snapshot/snapshot.aspx?id=F00000JYXI

jem16

Zebra wrote: »

From what she's said:

She also said this;

craftmoney13 wrote: »

They want to know all about the money you have (I would not give away everything to someone I don't know) but I did mention the ISA I had with another provider.

This implies to me that the OP at least had the Architas ISA at the time of investing with the Halifax in 2012. Nothing has been mentioned about selling it.

doughnutmachine

jem16 wrote: »

That's the nature of forums. You very rarely find anyone praising anything. People come onto a forum because they have a problem that they want fixing.

but someone comes on complaining about the advice they got from an IFA, and no one seems to say they received good advice.....

in most other boards where someone complains about a service you get people posting with opposing positive experiences....

jem16

doughnutmachine wrote: »

but someone comes on complaining about the advice they got from an IFA, and no one seems to say they received good advice.....

I've seen many threads where people have posted about receiving good service and advice from an IFA but then I've been here for a bit longer than one month.

doughnutmachine

jem16 wrote: »

I've seen many threads where people have posted about receiving good service and advice from an IFA but then I've been here for a bit longer than one month.

you don't need to be a member to read these posts you know i've seen many threads critical to finacial advisers, but i take your word that there must have been posts praising advisers sometime.

jem16

doughnutmachine wrote: »

you don't need to be a member to read these posts you know

No that's true. There are even some posters who've been around for a lot longer but are now using another login.;)

i've seen many threads critical to finacial advisers,.

Most are like this thread where it's an FA and not an IFA that's been used.

dunstonh

doughnutmachine wrote: »

tbh there hardly ever seems anyone posting on here with a good experience of an IFA.... i'm sure there are good IFAs but you wouldn't know it by reading this board.

As Jem says, people only post when they are unhappy.

IFAs account for around 70-75% of regulated advice transactions. Yet only account for 1% of complaints at the FOS. The majority of which are rejected. The FOS congratulated IFAs on complaint handling in November because of the detail and information that they have which helps support the advice that they give and means most complaints are rejected.

You will always get bad apples. However, the evidence does not support the perception that some have. Much of that perception built on tied IFAs (research shows that over half of people seeing FAs actually think they are seeing an IFA) and historical issues going back to periods of pre-regulation or pre-qualifications.

Aegis

feesarefare wrote: »

So when did you last get a new client that when you review what their last IFA did doesn't shout "commission generation" out at you ?

Surely that's also a loaded question, as a client happy with their existing IFA probably won't be changing from one to another? As such, not the best sample from which to draw such conclusions.

jem16

feesarefare wrote: »

Possibly but in my experience all are happy with their existing IFA until you tell them the truth.

Must be missing something obvious here but why would a happy client be visiting another IFA?