IFA Remit

Albermarle

I am wondering how it works is you approach an IFA and you have a typical mixture of pension pots ( DC and DB ) S&S ISA's ; cash ISA's ; Premium bonds & maybe a few unregulated investments ( like P2p) etc
I understand that if you just wanted a one off consultation, they would look at the whole picture . However if you agreed to an ongoing relationship for an annual fee, would it cover just the obvious items like DC pots and S& S , or would it be also be charged on the cash savings or even DB pensions ?

I am thinking that cash savings or DB pensions would not be included but on the other hand, the fact you had them would influence investment decisons in other areas.

I guess there are a lot of bespoke arrangements with IFA's but was just wondering where usually the boundaries sit?

dunstonh

I understand that if you just wanted a one off consultation, they would look at the whole picture .

If that is what you wanted. Many (most even) have a more focused approach. i.e pension only or investments only.

However if you agreed to an ongoing relationship for an annual fee, would it cover just the obvious items like DC pots and S& S , or would it be also be charged on the cash savings or even DB pensions ?

Against the assets which are under the IFA control. i.e. not savings, NS&I, DB Pensions, workplace pensions etc.

Although the IFA will usually still give advice covering those things if there are other things they look after.

I guess there are a lot of bespoke arrangements with IFA's but was just wondering where usually the boundaries sit?

Its an agreement between the client and the IFA. Some IFAs will be more flexible than others.