What will a financial adviser do for me?

TheTracker

Jon_W wrote: »

Thought I would update this.

Met last IFA on Wednesday. 3% implementation fee, 0.25% platform fee and 0.75 ongoing.

And what do I get for this?

He will stick it in an L & G Multi.

Bit of a no-brainer, that one...

That sounds encouraging to me.

Why would you think this IFA would have any ability to select a portfolio that would outperform such a fund? What circumstances do you have that would render such a fund inappropriate?

FWIW here is some guidance vanguard provide to financial advisors -

"Making promises you can keep:
Using a professionally managed, single-fund solution can help you focus on critical financial planning areas such as estate and family planning, rather than topics that you can’t control, such as market performance. These services can provide a more reliable foundation for an enduring advice practice"

masonic

Audaxer wrote: »

I'm not sure exactly how much the OP is investing, just a fair sized 5 figure sum, but to me the fees seem high for what the IFA is suggesting, especially the implementation fee, but if that is the going rate and the OP is okay with it, that's fine.

With all the help and advice the OP has received in this thread, and especially since the OP recognised the advice as being something well within his own gasp, I'd suggest the adviser is now surplus to requirements.

Audaxer

masonic wrote: »

With all the help and advice the OP has received in this thread, and especially since the OP recognised the advice as being something well within his own gasp, I'd suggest the adviser is now surplus to requirements.

I agree, but I got the impression from the update from the OP that he is paying the IFA fees as the IFA had advised him on which fund to go for?

masonic

Audaxer wrote: »

I agree, but I got the impression from the update from the OP that he is paying the IFA fees as the IFA had advised him on which fund to go for?

I think the last sentence in the OP's update would rather suggest he isn't going ahead with this IFA,