Financial Advisor's for low investment?

SpeedSouth

Hi,

Recently I've spoken to a couple of financial advisor's from unbaised and one the missus folks use.

They have highlighted a couple of key areas, (lack of will, lack of life insurance cover).

They've said with my situation, I'm best looking at S&S ISA's which I kind of guessed anyway.

Looking around this seems to be fairly easily done with the Vanguard funds etc.

They are saying they can return 6-7% (which of course I take with a pinch of salt but I know the missus folks are getting that)

One of them said he can manipulate my pension as well as part of the service.

Obviously they are taking there charges, but looking the funds I'd use apply a .75% fund manager charge anyway.

I'm not a fool, and have done a lot of reading but the more you read the more I realise I've still got loads to learn.

I got a lot of sound advice here already .. https://forums.moneysavingexpert.com/discussion/comment/67522191#Comment_67522191 (which also shows my key facts)

But it's a case of whether I follow through on this alone or not really.
What are others opinions?

dunstonh

What are others opinions?

You havent really told us anything other than you have spoken to some advisers.

Your options are either to DIY or use an IFA. Both options are valid and sensible depending on your needs. If you know what you are doing then DIY can save you money. If you dont know what you are doing then DIY can cost you (pension thread started earlier today by someone in the pensions forum who bought a Virgin stakeholder. They dont understand why its expensive and are paying about twice the charge they would if they used an IFA - or did better DIY research).

For people that cant DIY well or dont want to spend the time doing then using an IFA is fine. Just like anything in life where you have the choice to DIY or use someone else.

SpeedSouth

dunstonh wrote: »

You havent really told us anything other than you have spoken to some advisers. ...

No, but the other option is coming to to request the advice on individual products I guess.

Bottom line I'm 33, with no real financial plan. I'm not poor at present but need to start to plan out the next 30 years or so to maximise the final 20 years, and my kids future or so (all assuming I remain a in healthy state and avoid any of life's others horrible stuff).

I think really it's just a case of whether people who have gone the IFA route and pleased/happy they made the right choice. As potentially the savings are quite large by not going that route.

dunstonh

I think really it's just a case of whether people who have gone the IFA route and pleased/happy they made the right choice. As potentially the savings are quite large by not going that route.

Potentially, there are savings with DIY. However, plenty of DIY people end up paying more. So, it is like any job you either DIY or use a professional. You need to know what you are doing.

redux

Whatever the relative merits of those two options, an IFA will be better than the sales force of only one or two companies, as they can only talk about the products they sell and may be unlikely to recommend you go elsewhere.

For example, someone I know has something in Halifax Cautious Managed. I have a feeling that even someone as inexperienced as me could do better with a handful of investment trusts.