Finding an Independent Financial Advisor with no vested interests!

FatherAbraham

bostonerimus wrote: »

I purposely didn't mention anything about ability. The question was about finding a truly independent advisor, not necessarily a good one.........The continual complaint that the DIYer might make poor decisions is obvious and rather pointless as the IFA might make poor decisions too. I think it should be taken as read that you should only DIY if you have the basic knowledge and skills required.

But really?

To become an IFA, one must demonstrate a range of technical comprehension of financial knowledge in professional exams.

A properly qualified IFA is simply not going to do some of the mad things that inexperienced DIYers do - taking on too much risk, falling to diversify, chasing last year's returns and so on.

I think it's silly compare the two in an unqualified, uncritical way, as if an error by one were about as likely as an error by the other. The professional is a better bet than the unschooled amateur.