Norwich Union Portfolio Step-down: any good for income for a 63-yr-old?

baby_boomer

To defend dunstonh is not to defend IFAs in general. To attack IFAs is not to attack dunstonh.

My mum has only had two IFAs and they've both been bad apples.

jem16

baby_boomer wrote: »

My mum has only had two IFAs and they've both been bad apples.

So your mum has had the misfortune to have two bad IFAs and you now class them all as bad?

baby_boomer

Please don't put words into my mouth. Before seeing any IFA, as a result of past experiences, I would make sure I did:

loads of homework

Paul_Varjak

baby_boomer wrote: »

To defend dunstonh is not to defend IFAs in general. To attack IFAs is not to attack dunstonh.

My mum has only had two IFAs and they've both been bad apples.

It is you making the generalisations - not me!

jem16

baby_boomer wrote: »

Please don't put words into my mouth. Before seeing any IFA, as a result of past experiences, I would make sure I did

loads of homework

So why would you need to do this unless you have decided, on the basis of two bad experiences, that they are all not to be trusted?

Is that what you expect from a profession?

As Paul says, you are the one making generalisations.

Coops10

Calm down all! I suppose my point is that after "shadowing" this site for a few weeks, there appears to be no middle ground. In all professions, including ours as an IFA, there are some very bad examples. I think the majority of these stem from the pre regulation days when financial advice was purely selling (i.e. industrial life salesman flogging poor whole of life policies and endowments for example).

It appears to me, that despite the upgrades in regulation and qualifications that have been improved, Edinvestor still appears to have the old mindset. If he wishes to have this and do all of his own research himself - no problem. My view is just that it is unfair that he should continually spout these views as if they are gospel to everyone else on the site, trying to make him sound like "all IFA's are salesman". It just isn't the case, and is far too sweeping, especially in the 21st century.

jem16

Hopefully you will stick around.

Many IFAs have disappeared over the last two years as they got fed up with the anti-IFA feeling that at times is very prevalent on this board. Dunstonh is the only one to have stuck it out through thick and thin, although he has lost his cool a couple of times.

Ed, unfortunately, can be one of the worst at times. She is very much in favour of the DIY approach but forgets that not everyone wants or feels able to do this.

Coops10

Thanks, I'll see how I go.

My only apologies to Edinvestor are for the assumption that she was male......oops. Nothing sexist, just that Ed being short for Edward and all that.....

I have met many clients over the years that had an anti-financial adviser feeling, until they realised how much good you were doing rather than harm. They tend to make the best clients as there is nothing better than a cautious client who asks all of the right questions. Like I say, it only takes a few bad apples, and possibly something may have happened 20 years ago to stick in the mind.

jem16

Coops10 wrote: »

Thanks, I'll see how I go.

My only apologies to Edinvestor are for the assumption that she was male......oops. Nothing sexist, just that Ed being short for Edward and all that.....

I believe Ed is short for Editor(although I may be wrong) and she and her other half ReportInvestor are part of the Investor's Association. That's why you see her posting links to a lot of media articles. Haven't seen ReportInvestor around for a while though.

Paul_Varjak

EdInvestor's profile used to contain a link to the Investors Association's website. However, it is now impossible to even view the website unless you are a member of the association!