Financial Advisor recommendations

bbass

Hi,

I'm an expat with properties and savings in the UK.

I'm looking for recommendations on a Financial Advisor who can help with new investments, saving plans, recommendations, etc.

As I am not currently UK resident (this may change in the near future) face-to-face meetings are not possible so everything would need to be done online / skype / etc.

Ideally the FA would have knowledge of risk-free investments in the UK and outside it, and would work on a fee basis rather than commission.

I'd be very grateful for any recommendations.

Thanks

bowlhead99

All independent financial advisers in the UK will work for a fee and not for commission.

While asking for a recommendation on an anonymous free internet forum will not get you anything unbiased, try unbiased.co.UK which is a directory.

Note that there's no such thing as a risk free investment

bbass

Thanks for the response and I appreciate your comments. Good to know they're fee based rather than commission.

I have previously looked at Unbiased but it appears that searching is by location rather than reputation. As I'm not UK based location this makes no difference to me so the entire directory is a potential candidate. I thought I'd ask here here for some recommendation before carrying out some further research on any names given.

Fair point regarding "risk-free" investment - clumsy wording on my part.

Thanks again

dunstonh

I have previously looked at Unbiased but it appears that searching is by location rather than reputation.

How would it measure reputation?
Most IFAs are small local firms of 1-5 advisers. Most have little or no internet coverage and deal with local people. They rely on local word of mouth more than anything else. Something an internet search will not tell you.

As I'm not UK based location this makes no difference to me so the entire directory is a potential candidate.

It also means that the majority of IFAs will not be able to deal with you. However, I believe unbiased has an expat filter which will only show those firms that tag themselves as dealing with ex pats.

Good to know they're fee based rather than commission.

Remember that its only UK advisers that are. Commission still exists on advisers dealing with clients that are not UK based and not buying UK regulated products.

bbass

How would it measure reputation?
Most IFAs are small local firms of 1-5 advisers. Most have little or no internet coverage and deal with local people. They rely on local word of mouth more than anything else. Something an internet search will not tell you.

Thanks for the reply and the majority of your points sum up why I was asking for a recommendation in the first place - word of mouth and chatting to a local firms are not an option for me. Not quite sure I follow your point about reputation though - supplier ratings / ranking based on customer feedback are pretty common these days and is my preferred starting point in an online selection process.

It also means that the majority of IFAs will not be able to deal with you. However, I believe unbiased has an expat filter which will only show those firms that tag themselves as dealing with ex pats.

That's interesting. The money and property are UK based (UK bank account) so I didn't think this would be an issue. Thanks for this - it's going to save me a lot of time when looking.

Remember that its only UK advisers that are. Commission still exists on advisers dealing with clients that are not UK based and not buying UK regulated products.

Noted and thank you for the advice.

bbass

pejt - Thanks for the reply and the info - I'll take a look at the site.

bigadaj

bbass wrote: »

Thanks for the reply and the majority of your points sum up why I was asking for a recommendation in the first place - word of mouth and chatting to a local firms are not an option for me. Not quite sure I follow your point about reputation though - supplier ratings / ranking based on customer feedback are pretty common these days and is my preferred starting point in an online selection process.

Yes, but as dunstonh has said before with such a small number of people and clients then online feedback is tiny. You also can't tell whether your adviser is any good with any certainty unless you've been dealing with him for years, ideally decades, so not soemthing that is suited to Internet feedback which focuses on large volumes and short timescales.

That's interesting. The money and property are UK based (UK bank account) so I didn't think this would be an issue. Thanks for this - it's going to save me a lot of time when looking.

Ifas wouldnt provide advice on property normally, though some will take it into account in terms of the make up of other investments as it fulfils certain criteria that might affect investments into bond, equities or other asset classes.

Noted and thank you for the advice.

Looks as though his post has now been removed for regularly spamming this site about his own, treat this with caution.

See above.

Rollinghome

bigadaj wrote: »

See above.

Tut, tut, from his initials, perhaps one of the pair who were trying to launch a "structured product platform" a few years ago - which would explain his enthusiasm for structured products. Honesty is generally the better policy, especially if you're trying to pump your business on a public forum.

bigadaj

Rollinghome wrote: »

Tut, tut, from his initials, perhaps one of the pair who were trying to launch a "structured product platform" a few years ago - which would explain his enthusiasm for structured products. Honesty is generally the better policy, especially if you're trying to pump your business on a public forum.

Possibly, but if dishonesty appears more profitable then many will consider it.

dunstonh

Not quite sure I follow your point about reputation though - supplier ratings / ranking based on customer feedback are pretty common these days and is my preferred starting point in an online selection process.

Its not that common at all. It may be for national firms and certain industries (hotels for example) but you dont find reputations of your local baker or butcher online or most other local businesses. IFAs in the UK are still largely classified as a cottage industry with most working out of home offices or small one branch outlets.