Independent Financial Advisors? Help please.

bettyblue77

I am thinking of consulting an IFA to help me plan 'the way forward' out of debt and into the next phase of things. Is is a good idea or am I totally barking up the wrong tree? Any thoughts out there?

pania

HI betty. No need to pay a financial advisor hon, they will give you advice but expect payment in return. there is so much help here for free if you want it. If not try payplan or the CCCS all will give you that help for free.
Hugs
P
xx

Madnessa

Don't pay anyone to help you get out of debt. There are people that will do it for free many of them on this website. Financial Advisors specialise more in making money for people through investments and things like that. Although having said that with my bank account I get free access to a HSBC financial advisor.

Don't go down that path though as they will advise you to consolidate using one of their products and you'll be even worse off.

Have you posted a SOA yet. If so do you have a link to it so we can go and have a look?

If not why not post one on here and we can take a look.

One of my friends uses an IFA and with the fees she pays him she would be a lot better off now as his investment advise seems to be a little off at the best of times and even if they mess up you still have to pay them.

elantan

most people here are ifa's maybe they havnt passed the exams but they are wise and know how to help, they wont judge and wont look down on you and best of all they are free give them a shot first

rog2

I would not say that ALL Independent Financial Advisors are in it for what they can make out of your misfortune, but there are many horror stories on these boards.
All I would advise is that, before you go down the road of paying someone for, potentially, the same advice - you should talk to one of the Debt Counselling Charities, such as CCCS (they have 2 advisors on this board - CCCS_Emily and CCCS_Matthew) Payplan, National Debtline or the Citizen's Advice Bureau. All of them will give you free, impartial, confidential and PROFESSIONAL advice, as well as help you through your problem.
What have you got to lose?

lynzpower

An IFA is generally someone to consult to talk investments with, and it will cost you for that.

You dont need an IFA to tell you how to ge toutn of debt, indeed there are resources here, at national debtline, and hargreaves lansdown do a booklet called finances in your 20s & 30s that has a section on debt too.

elantan

i think this is a repeat q am i wrong?