Do I need a financial adviser

justme111

It does not matter where you live , you still can use them

Stubod

..probably better to have somebody a bit more local then. Our last FA was about 100 miles away and visited once per year but was always available by phone or e-mail. Our new one is 20 miles away and "pops round" as and when. (We are doing a lot of planning at the mo). I am not confident with investments and all the various products (eg SIPPS / tax implications), therefore I am happy to pay somebody to do it for me. They are also able to offer advise on best products based on you particular needs and your needs will change over time. This suits me but I understand that some people are comfortable doping it for themselves...each to his/her own....

JohnRo

Stubod wrote: »

I understand that some people are comfortable doping it for themselves...each to his/her own....

Sounds like my neighbours, had to complain about the smell today.

Pincher

pop37 wrote: »

Objective - to grow it so it can be my retirement pot and help the children get on the property ladder when they are older.

Property IS an investment.

http://www.nationwide.co.uk/products/mortgages/family-deposit-mortgage

Instead of fooling around with the vagaries of other "investments", if the children are old enough to own property, including being student landlords, you can help them now. Twenty years later, it's quite likely property will have done better any way.

The worst thing to happen is, everybody treats it like a rainy day piggy bank, so nobody spends it, and it grows beyond the inheritance threshold, and then you pass away, and the tax man gets 40%, and the only person who ever benefited from it is the financial adviser, who gets his fee, every year.

It does depend on the children not turn out to be ungrateful brats, of course.

steviecoyle

pop37 wrote: »

No can do Stobod, I live the other end of the country to them

Using the current FA is a good option. No matter were they are. And if they have grown the investments at a steady pace, then I would stick with them.

As said before, proven track record. You can't beat it.

pop37

Thanks everyone for the input. You have given me lots to think on.