Finding Independent Whole of Market Advisor

phuket

Has anyone managed to find a good independent whole of market advisor recently? If so how did you do it.

I have had a disappointing experience with one financial advisor whose service was poor and who gave me inaccurate information (they used to call themselves IFA but since RDR are now chartered financial planners).

I am now looking for a new advisor to take over the investments managed by the previous IFA and give new advice.

However after contacting several firms listed on unbiased. co.uk I can not find anyone in my area who I think is going to offer unbiased whole of market advise.

It seems that most advisors now have one preferred platform and seem to take little effort to research other platforms or services offered. (How can this be independent?).

Anyone got any suggestions? I don't have anyone to make a personal recommendation which I would normally prefer to do.

Thanks.

jimjames

phuket wrote: »

It seems that most advisors now have one preferred platform and seem to take little effort to research other platforms or services offered. (How can this be independent?).

Anyone got any suggestions? I don't have anyone to make a personal recommendation which I would normally prefer to do.

Thanks.

The platform shouldn't matter should it? Surely it is the investments on it that are important? I can imagine that IFAs use specific platforms that meet their requirements so wouldn't be looking at ones like HL for example.

That doesn't mean they are not Independent.

If you've already had advice in the past is there a reason why you need more? Just to rebalance the investments you have or new situations?

dunstonh

Has anyone managed to find a good independent whole of market advisor recently? If so how did you do it.

With IFAs dominating distribution but only getting 1% of complaints, it is fair to say that most have. There are always exceptions but generally, it is not an area that is considered to be have any real issues at the moment.

It seems that most advisors now have one preferred platform and seem to take little effort to research other platforms or services offered. (How can this be independent?).

They cant use just one platform and call themselves independent. It is common though and many IFAs have or will be going restricted in the next few years. This is really a post RDR development as the FSA didnt have an issue with one platform but the FCA do.

That said, with most IFA platforms offering any investment on the LSE, it doesnt really matter as long as the adviser justifies why they prefer that platform.