How Old Should Your IFA Be?

Aegis

I am a relatively young adviser (late 30s) and already when I go into meetings I try to bring in a younger trainee or paraplanner to help when I'm not around (holidays and sickness - not a euphemism of any sort!). If you have a 60-ish year-old IFA, then hopefully they will be doing the same and introducing you to younger staff members.


It's quite normal to change IFAs several times, but this can be a lot easier if they work at the same firm.

cfw1994

nigelbb wrote: »

Surely it would be a very good sign if your IFA were to retire early? It shows that he can walk the walk as well as talk the talk & actually manage his own finances well.

Or.....that they have taken a bigger chunk of your money over the years than they needed to, f that perhaps that could be *you* retiring earlier instead if you hadn’t paid potentially excessive fees :rotfl:

Just a possibility, of course!

It is certainly a tricky one. I have always felt the only person truly with your best interest at heart 100% is yourself

But I absolutely appreciate that many people need some help at various stages: we (as a nation) have always been woefully poor at educating people about finance, so it is no wonder people find it confusing/worrying/difficult.
If you’re one of them, pick your advisor/firm carefully, check exit costs should you wish to change them in the future, and keep a close eye on how the numbers go through your life: there is FAR more material available today than there was 10 or 20 years ago, so plenty of opportunity to figure things out....

custardy wrote: »

This is your your fourth IFA thread. You think it could be an idea to put it all in one thread?

& yes, now I see this as rather wasteful of messages - just stick with one thread about IFAs: stupid and wasteful to take up multiple threads on one topic....not surprised if you start to feel you get irritated replies.

bigadaj

Depends on whether you want the adviser or the son of the adviser...