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financial advisor with a building society,or independent?
money_tree
Posts: 38 Forumite
would it be better to go to a financial advisor connected with a building society such as the A&L or the Abbey,or to choose an IFA,for investing a sum of money?
regards mt
regards mt
0
Comments
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depends whether you want to be sold A&L/Abbey products
if not - independent0 -
All Abbey's products are available from an IFA. Not that you would use them much as they are pretty poor.
Tied agents cannot portfolio plan so straight away you get a limitation with investments if you see a tied agent.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 -
.....and A&L use Legal & General's products and are very limited. I know this as I worked there before I became a "proper" Financial Adviser!!I am an Independent Financial Adviser.
Anything posted on this forum is for discussion purposes only. It should not be considered financial advice. Different people have different needs and what is right for one person may be different for another. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser who can advise you after finding out more about your situation.0 -
L&G products sold through banks are cut down or more expensive versions of the full IFA version. Same goes for Norwich Union and Scottish Widows through banks and b/societies.
An IFA can beat the bank versions every single time.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 -
Thanks for all your replies.I think i was seduced by all the smooth talking smart BS FAs,who promised around 20% annual interest,based on past performances.
How would i go about looking for a reliable IFA?
regards mt0 -
Look on www.unbiased.co.uk for an IFA in your area. Avoid large salesforces and concentrate on local firms. Then phone around a few and ask their terms/charges. Try to find one charging less than the average which is 1.8%.0
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