IFA's etc. Has anybody ever been to one that has MADE them money rather than charged

The_White_Horse

them money for something they could have done themselves.

I am always being called and chased by these people and it always involves me paying them. I thought they were supposed to manage my wealth and make me richer, not make themselves richer.

if these people made me £2 I wouldn't mind paying the 50p for it. However, it seems to be the other way around.

Lousy parasitical profession (if you can call it that). Just insurance salesmen really.

"and what if you die?" "and what if your wife dies" "and what if everyone you know dies" And what if you lose your job? and what if you die and lose your job and lose your wife? WE HAVE AN INSURANCE PRODUCT FOR ALL THESE CIRCUMSTANCES.

Lokolo

Well we haven't had one of these threads in a while.

dunstonh

Another pointless thread designed to flame. Havent we had enough of these now?

The_White_Horse

i've never seen any such threads.

dtaylor84

The_White_Horse wrote: »

i've never seen any such threads.

The search function would illuminate you, whilst saving us the boredom...

grizzly1911

I thought you were all for taking personal responsibility.

Just think of all those tantalising products that you could pay for to allow you to ride rough shod over the proles.

If you can't do something yourself, repair a car or your dripping tap you employ someone. If you can do it yourself go do it. In all instances you may or may not do a better job than the paid help.

With trail commission going/gone I think the cost of ongoing servicing may make more people question the benefit. If your car needed constant attention for the same symptonwould you keep taking it back to the same garage.

doughnutmachine

I have to admit that since a lot of advice on this forum is "go and get an IFA" it would be good to hear from posters that have previously went to an IFA.

It does seem that when people post about their experiences of IFAs these experiences are negative.....

JoeCrystal

I got a positive experience for you, doughnutmachine.

I did go to an IFA to get myself a private pension scheme after the realisation that my employer only offers a stakeholder pension scheme and does not contribute to it. After a £300 fee plus 1% commission from all my regular payments but not single payment (which I paid every Xmas), I got transactional advice, I now got Scottish Widows private pension scheme with AMC of 0.7% for regular payment and 0.55% AMC for single. It contains ten funds invested in various sectors.



I did not have a clue where to start with the pension so has an IFA to figure it out instead helps. Eventually. not sure how big the fund is suitable but I guess I will opt for serving advice eventually.

A three hundred pounds fee and 1% of my regular payment is a small price to pay when setting up your retirement provision and you know what? It is currently making money! So aye, a postive experience and only time I hear from them is when writing to me about RDR changes.

Cheers,
Joe

j0nathon2

doughnutmachine wrote: »

It does seem that when people post about their experiences of IFAs these experiences are negative.....

Like anything really.

Buy a tin of beans from Tesco today, you won't post a review. Find they're black and you are more likely to.

doughnutmachine

j0nathon2 wrote: »

Like anything really.

Buy a tin of beans from Tesco today, you won't post a review. Find they're black and you are more likely to.

yeah, I know what you mean.

but at the same time I honestly think the IFAs have too loud a voice here. in real life most people I meet say IFAs aren't worth the money. It would just be good if more people posted their experiences here (good or bad).

atush

I am always being called and chased by these people and it always involves me paying them. I thought they were supposed to manage my wealth and make me richer, not make themselves richer.

If you are being called and chased, it probably isn't an IFA- they don't do that. They might call or write about things to you if you've used them in the past- mostly write. People who (cold) call you are scammers not IFAs.

I am about to use one to set up a new pension. I will not go for ongoing servicing, I will do that myself.

People complain loudly, those that are happy dont speak up.