Should I expect a financial adviser to keep my finances confidential?

NoMore

maybe you shouldn't live together or go out in public together, or even be together in private in case somebody makes the connection your married and in a partnership!

Perhaps you should ask the registry office to remove all records of your marriage ?

veryintrigued

This thread is something else.

Simby

NoMore wrote: »

maybe you shouldn't live together or go out in public together, or even be together in private in case somebody makes the connection your married and in a partnership!

Perhaps you should ask the registry office to remove all records of your marriage ?

I fail to see how that links at all to maintaining separate finances , by that logic you could never go out together in public with anyone including parents grandparents neighbors , I see no connection between separate finances to keeping a relationship private.

The right to separate bank accounts, investments, debts , credit records etc is accepted and enshrined in law .. but this thread seems to be disputing all those rights or at least trivializing them ... women are no longer someone’s property and are recognized as citizens in their own right not an extension of their partner... but some Seem to be throwing all those rights out the window by combining finances..

An IFA has trampled the ops rights and taken there choice to share information or not away from them... and people think this is minor...

veryintrigued

Simby wrote: »

However I thank the op for this thread, myself and hubby read this together and have now taken some steps to ensure this can never happen to us.

We have both got ourselves P.O. Boxes and changed our details with our financial organizations to ensure there are no common addresses that could be accidentally linked,

We have confirmed we are using different share brokers and different platforms.

We were accidentally using the same bank for current accounts, ( our own accounts not joint) I have closed my account and moved to a different bank.

We have both removed next of kin details from all policies with contact details of the spouse, so there is never any danger of anything being disclosed.

We already use different IFAs.

We do not claim any tax benefits and both just have a single person tax allowance. We have spoken to the tax office and ensured we are separate and no tax benefits are being claimed.

I have advised my solicitor who holds my title deeds under no circumstances must anything ever be disclosed to anyone but me, I have informed my IFA of the same in writing.

I have put a marker on all credit agencies to prevent any credit being applied for without a manual process ...

We will be completing another post nup to ensure wishes are clear, we are now documenting that neither spouse supports the other by so much as a cup of coffee. We have redone wills to ensure it is clear neither party can inherit from the other .. I will put my property into joint names with my mother to protect it and my husband is putting his house into joint names with his cousin to protect it.

Do you vote?

Simby

veryintrigued wrote: »

Do you vote?

Yes I vote, may I ask why this is relevant?

Sea_Shell

Simby...if your partner (spouse) were to fall on harder times, lose their job or get sick.... you're going to throw them under the bus!!? Not even subsidise a coffee you said. Good luck with that plan, long term. Sounds like resentment waiting to happen to me. There's no I in team (which is what a marriage is).

veryintrigued

Simby wrote: »

Yes I was being entirely serious...

I am actually at a loss as to why any couple would share finances in any way.. I get people do and chose to have joint mortgages etc.., just never seen any advantages only disadvantages and possible risk to your credit score and personal future.

The ops story really worried me that an IFA would disclose my private data which is what GDPR is supposed to protect again, and I was simply amazed people thought this was minor , if I can’t trust an IFA then I have taken measures to ensure the same thing as happened to the op can never happen to me.

I'd be questioning why I was married if I'd taken things to this extreme.

veryintrigued

Simby wrote: »

Yes I vote, may I ask why this is relevant?

You could be tied together if you haven't opted out of the open electoral register.

Sea_Shell

Simby. So as far as I can make out you're either...
Both absolutely minted...old money to be protected at all costs.
Both older and on 2nd (3rd) marriage, having had fingers burnt badly in the past.
Or your finances are poles apart.
Or you just don't trust each other!!

Simby

Sea shell we are lucky enough to live in a country where those who fall on hard times receive contributory unemployment support in the event you lose your job, if he fell ill or I did there is also support for that...

I would of course not see him starve but I would not for example subsidize his coming on a holiday if he could not pay or going to dinner... nor would I accept it from him if I was unemployed...we would instead stay in or do something free if the other could not afford it...

But this is about the right to have ones financial information confidential...people chose combine finances that is a choice but it is a legal right to have your single financial accounts kept confidential from others.... the IFA even did not action instructions from the op on a single ISA and discussed it with someone not on the account... I am mystified anyone thinks this acceptable.