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IFA Fees
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The only other people I know of who charge a percentage are the estate agents. It's done to disguise the true cost. IFAs won't touch small portfolios. On a £100K portfolio that would be £1000. Investments are long term so shouldn't need messing with on a regular basis. So it will be £1000 for 10 minutes work. All to give the IFA ongoing work so he doesn't have to find more clients. That's the problem. The service is all what the IFA wants not what the client needs. £100 would be more realistic.0
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IFAs won't touch small portfolios.
Damn. What is that cheque I took this morning for then?On a £100K portfolio that would be £1000.
I am sure some may charge that. Doesnt mean all are.. Investments are long term so shouldn't need messing with on a regular basis.
You may want to tell the FCA and FOS that as they disagree.So it will be £1000 for 10 minutes work.
Just not possible in 10 minutes or anything near that.
(Text removed by MSE Forum Team)I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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