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financial advisors for drawdown pension
ikb
Posts: 1 Newbie
There is a plethora of advisors out there plying for business. Can anyone advise me of bad experiences/those to avoid or, any recommendations based on personal experience?
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Comments
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Most adviser firms are small local firms of 1-4 advisers. There are just over 20,000. Your request is a bit like asking this site what your local butchers are like.
That said, the key thing to avoid are FAs. You should look for IFAs. If they can't show that they are independent then you dont use them (FAs are not allowed to use that word. Whereas IFAs will make a point of using it).
There are no real problems with drawdown and IFAs. In fact, the FOS has surprising low levels of complaints in both of those areas. And the recent FCA review found little to concern it about advised drawdown and it was more concerned about DIY drawdown.
Local firms rely on local reputation. Larger firms rely on brand recognition.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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