'All Round' financial advice

waveneygnome

Where do you go to get general 'all round' financial advice?

I've a friend who's an Estate Agent and he's always trying to get me to buy some property.

I frequent an IFA who's trying to get me to put more into equities.

My accountant wants me to transfer everything under their 'Wealth Management' division.

When I get the time/chance to read the Sunday Money pages I read something about the latest wheeze: vineyards, fine wine, holiday lets, gold, gemstones etc......and think oh...that's interesting.

Where can I go to get all round advice from someone not trying to flog me there particular product/service?

Pincher

Once upon a time, there were investment clubs, where people gather in a pub once a week.

I suppose people just do it on internet these days.

bigadaj

You've got to learn yourself really, all of those people don't know about the other options available, and can't determine your preferences or priorities in any case.

The exotic investments are only if you know or are prepared to learn a huge amount, or get some pleasure from them.

Process for most people is to pay down expensive debt, accumulate a cash reserve of between a few months or a couple of years of income or expenditure.

Property is an option, though buy to let is a business, suits some but certainly not everyone.

Most people would have the bulk of the rest of their assets in shares and bonds, within a pension, is a or held unwrapped within funds of some sort.

The one new asset class is p2p, it's certainly higher risk but can be higher return and spreading money is essential. It's something unrelated to other asset classes so can help in diversifying, many people think shares are high currently.

Simplistically diversification is key, as one part does well and other does poorly but the average will be ok.

dunstonh

Where do you go to get general 'all round' financial advice?

An IFA.

My accountant wants me to transfer everything under their 'Wealth Management' division.

Which would either be via an IFA or restricted adviser.

When I get the time/chance to read the Sunday Money pages I read something about the latest wheeze: vineyards, fine wine, holiday lets, gold, gemstones etc......and think oh...that's interesting.

And all unregulated and ripe with scams and tends to use language that you cannot see in the regulated world but they can get away with it as they are unregulated.

Where can I go to get all round advice from someone not trying to flog me there particular product/service?

IFAs are fee based. You pay for their advice and service. There is no product being sold. However, IFAs are effectively investment class advisers. So, you would expect the recommendations to be mostly mainstream regulated investment options in line with their authorisations and permissions.

You need to decide whether you want conventional investments, exotic and weird (and possibly will go bump in the night), or whether you fancy being a landlord (and that is not as easy as it used to be). Once you know what you want from your money, you then see the appropriate person.