Independent financial advice

RainbowsInTheSpray

I'm sure this has been raised before. Sorry if this is the wrong forum to broach the subject.

Where could I find a list of (truly) independent financial advisers in my area? I'm starting retirement now and need a professional, outside view cast over the totality of my affairs, i.e. with regard not just to savings and investments but also assets and outgoings. I'm willing, obviously, to pay for this advice and am looking to so arrange my affairs as to ensure a reasonable retirement for myself together with the prospect of something to pass down to children/grandchildren.

bowlhead99

One of the better ways to find a professional adviser is from personal recommendation of someone who has been using one for a number of years and is competent to assess whether the adviser has done a good or bad job (some people will have an adviser they're happy with because their investments grew in value or some tax was avoided, but not really have much else to compare them with to know if the job has been done well or badly).

Another more common way is to just use a directory of  adviser firms like https://adviserbook.co.uk/ or https://www.unbiased.co.uk/ . Make sure you select options for what you want on the search tools they offer (e.g. confirmed independent is an important option if the seach tool has that option; also show all firms even if they don't pay for a premium listing so that you don't miss any out). If you use both those directories (and there may be others) you should get a pretty comprehensive shortlist and then you could make appointments for a free initial consultation with  a few of them to outline how they could help and what it might cost and whether you think you could get on with them.

RainbowsInTheSpray

Much appreciated.

jsinc

Others here have suggested adviserbook and thepfs, because those platforms don't take a cut.

Apparently vouchedfor and unbiased do.

RainbowsInTheSpray

Can I raise this matter again, I wonder? Sort of taken my eye off the ball for some reason these past 6 months. Can't imagine why!

What's the recognised safe way of finding a financial adviser who can do a fair job for a fair fee in my area? Is there one? Looking for a face-to-face interview (mask-to-mask?) rather than anything via the net or phoning.

Albermarle

Your question was largely answered earlier in the year ,by the earlier posts ,  so not sure what new point you are asking about?
The norm seems to be to identify around three , make a free initial appointment  and see how you get on with them , charges etc 
It is also a two way thing because the IFA may be quite busy and not interested in certain types of clients but from what you say you are the typical kind of client that IFA's work with .

RainbowsInTheSpray

Thanks. Just trying to get up to speed and see whether anything's changed in the last half year. 

Saga

Should I be surprised that no IFAs from unbiased and other directories are apparently interested in advising me?

I guess it's understandable from their point of view though – I rent (warning sign 1) in Manchester (so might expect there to be plenty of advisers available) but only have <£50K savings (warning sign 2), rubbish pension (warning sign 3) and am the wrong side of 40yo (warning sign 4) – so not worth their while.

thegentleway

Saga said:

Should I be surprised that no IFAs from unbiased and other directories are apparently interested in advising me?

I guess it's understandable from their point of view though – I rent (warning sign 1) in Manchester (so might expect there to be plenty of advisers available) but only have <£50K savings (warning sign 2), rubbish pension (warning sign 3) and am the wrong side of 40yo (warning sign 4) – so not worth their while.

I don’t think renting and age have anything to do with it. What’s wrong with your pension?

Saga

thegentleway said:

Saga said:

Should I be surprised that no IFAs from unbiased and other directories are apparently interested in advising me?

I guess it's understandable from their point of view though – I rent (warning sign 1) in Manchester (so might expect there to be plenty of advisers available) but only have <£50K savings (warning sign 2), rubbish pension (warning sign 3) and am the wrong side of 40yo (warning sign 4) – so not worth their while.

I don’t think renting and age have anything to do with it. What’s wrong with your pension?

Renting in the context of my circumstances means few assets so not attractive for advisers who charge a %age based on assets.

I had rubbishy jobs when younger so either couldn't afford a pension or could only put away laughable amounts.  Again, small fry so hardly worth an IFA's while.

thegentleway

Saga said:

thegentleway said:

Saga said:

Should I be surprised that no IFAs from unbiased and other directories are apparently interested in advising me?

I guess it's understandable from their point of view though – I rent (warning sign 1) in Manchester (so might expect there to be plenty of advisers available) but only have <£50K savings (warning sign 2), rubbish pension (warning sign 3) and am the wrong side of 40yo (warning sign 4) – so not worth their while.

I don’t think renting and age have anything to do with it. What’s wrong with your pension?

Renting in the context of my circumstances means few assets so not attractive for advisers who charge a %age based on assets.

I had rubbishy jobs when younger so either couldn't afford a pension or could only put away laughable amounts.  Again, small fry so hardly worth an IFA's while.

To be fair, it’s not worth your while paying for an IFA if you’re investing small sums. Generic advice is suitable. Once you’ve got a larger sum it is worth considering getting specific advice tailored for your circumstances. Until then just focus on paying into your pension and saving.