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Cost of using an IFA
MrMcTavish
Posts: 23 Forumite
I have around £80K in cash, equities and funds.
(about 7 equities, 3 funds)
IFA is offering to review investment options for the lot for £500 + VAT.
Is this a bit on the pricey side or good value or what? It's about 0.75% of the total.
Comments welcome.
Cheers,
Mr M
(about 7 equities, 3 funds)
IFA is offering to review investment options for the lot for £500 + VAT.
Is this a bit on the pricey side or good value or what? It's about 0.75% of the total.
Comments welcome.
Cheers,
Mr M
0
Comments
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IFA is offering to review investment options for the lot for £500 + VAT.
If its is a review and no product is intended to being bought then it is VATable. If you intend to buy a product (which could be this years ISA) then it is non Vatable.
£500 seems very good value. I wouldnt it for less.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 -
MrMcTavish wrote: »IFA is offering to review investment options for the lot for £500 + VAT.
It's actually suspiciously cheap!I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
It is very competitive.MrMcTavish wrote: »I have around £80K in cash, equities and funds.
(about 7 equities, 3 funds)
IFA is offering to review investment options for the lot for £500 + VAT.
Is this a bit on the pricey side or good value or what? It's about 0.75% of the total.
Comments welcome.
Cheers,
Mr M
Echoing what dunstonh has said, VAT is not payable if there's an intention to purchase a product. If you require advice only then it is VATable.Stephen Covey once said that "when you teach once, you learn twice". That is the primary reason for my participation on the forums as an IFA.
Although I strive to provide accurate information in my posts, there may be the odd time when I fail. Yes I know it's hard to believe but even Your Hero can make mistakes. Apologies in advance.0
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