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Are you an IFA?

Options
There's lots of discussion of IFAs on here. This is not pro- or anti-IFA, just curious.

Are you an IFA? 57 votes

Yes
17% 10 votes
No
52% 30 votes
No, but I play one on TV
29% 17 votes
Actually, I'm a whole of market restricted advisor, which is what my customers want
0% 0 votes
«134

Comments

  • eskbanker
    eskbanker Posts: 37,057 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Seems a pointless exercise to me - there are certainly some who credibly claim to be IFAs on here, and make no attempt to conceal that (with industry knowledge amply demonstrated), but the vast majority of posters clearly aren't and wouldn't claim to be.  Even if respondents were in any way representative (a massive assumption), in what way do you think it would be useful to have a poll that indicated that, say, 10% of voters claimed to be IFAs?  Or does the structure of your poll suggest that you believe that there are significant numbers of FAs who post on here while trying to give the impression of being IFAs, and who would be happy to change their habits and be more honest when voting in a poll?
  • ColdIron
    ColdIron Posts: 9,820 Forumite
    Part of the Furniture 1,000 Posts Hung up my suit! Name Dropper
    Vote yes just for the lolz
  • dunstonh
    dunstonh Posts: 119,640 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    edited 25 April 2020 at 1:36PM
    Actually, I'm a whole of market restricted advisor, which is what my customers want
    No consumer "wants" a restricted adviser.
    The way it is worded sounds a bit leading.   Are you going to see follow ups from you suggesting that FAs are better?

    I wasn't going to respond in the poll but I decided to go boaty mcboatface style.
    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.
  • badger09
    badger09 Posts: 11,575 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Am I allowed to use my newly learned word?
  • IAMIAM
    IAMIAM Posts: 1,334 Forumite
    Fifth Anniversary 500 Posts Name Dropper
    There will come a point, as has been the case for many many years that IFA will not be needed. As is the case with retail, people seek advice then go direct for a cheaper deal. Look at the significant reduction in mortgage advisors, most now apply direct after searching on sites like this. 
  • IAMIAM
    IAMIAM Posts: 1,334 Forumite
    Fifth Anniversary 500 Posts Name Dropper
    When I read a quote stating that £450 will be paid to the IFA for setting up a policy straight away, I literally cringe. Would rather just use Cavendish online, this site or money world to purchase, save £££ on the monthly premium and not have to worry about having paid £10 or something similar extra a month for life to keep the IFA in business. 
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    IAMIAM said:
    There will come a point, as has been the case for many many years that IFA will not be needed. As is the case with retail, people seek advice then go direct for a cheaper deal. Look at the significant reduction in mortgage advisors, most now apply direct after searching on sites like this. 
    Best buy sites make their money from click bait. Not run for charitable purposes.
  • dunstonh said:
    Actually, I'm a whole of market restricted advisor, which is what my customers want
    No consumer "wants" a restricted adviser.
    The way it is worded sounds a bit leading.   Are you going to see follow ups from you suggesting that FAs are better?
    No, I was aiming for satire of what a restricted advisor might say :)
    So far the majority play an IFA on TV! As a follow-up question, what is (or should be) the title of a drama series about an IFA?
    My suggestion: "Monkfish, IFA".
  • Zanderman
    Zanderman Posts: 4,875 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    edited 26 April 2020 at 11:17AM
    Are there many roles for IFAs on TV?
    I've done my share of TV, but have never been asked to be an IFA. Most 'professional' I've ever played is a solicitor. And, briefly, an MP (though that's not a profession!).  I'm usually the peasant, miner, leper, PoW, rioter, driver, footman etc.
    Should I be angling for an IFA role?  
    Should we campaign for an IFA drama?  Or, as d63 says, an IFA comedy? 
    Or maybe break into the Marvel Universe or DC Comics genres - perhaps starting with IFAman Begins... 
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