Are you an IFA?

6022tivo

No, I am much better than financial services salesmen.

IFA_or_not

d63 said:

IFA only got ISAs for you.

Call me pedantic, but that sounds like a restriction! IFAs need to be able to advise about all the different tax wrappers, not only ISAs

IFA_or_not

Zanderman said:

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... 

I've found science fiction resonates well during lockdown (perhaps too well ) ... How about IFA Married a Monster from Outer Space?

Malthusian

Don't IFAs (or at least more vaguely defined "financial advisers") appear quite frequently on the likes of Midsomer Murders, either having been murdered for stealing someone's life savings, or having murdered somebody else to cover up the theft of their life savings?

As I don't watch Midsomer Murders I could be wrong.

Advisers probably appear in dramas as frequently as accountants, dentists, and any other unglamorous white collar service profession. (Blue collar service professions are depicted on film more frequently thanks to !!!!!!.)

IAMIAM

IFA and Mortgage Advisors are going to be extinct soon anyway. They are becoming more and more not needed as consumers educate themselves and go direct, the need to pay commission for a sale and then ongoing fee to maintain is really a waste of a consumers money.

IFA_or_not

Malthusian said:

Don't IFAs (or at least more vaguely defined "financial advisers") appear quite frequently on the likes of Midsomer Murders, either having been murdered for stealing someone's life savings, or having murdered somebody else to cover up the theft of their life savings?

Don't the scriptwriters know that assets should be held by a platform, not the advisor (whether or not independent)?!

The chances are that most people who've murdered a fictional financial advisor for stealing their life savings think they've murdered an IFA.

IFA_or_not said:

I've found science fiction resonates well during lockdown (perhaps too well ) ... How about IFA Married a Monster from Outer Space?

Or: IFA, Robot — for an Asimov/robo-advice crossover. Guest-staring the FCA as Robocop.

dunstonh

IAMIAM said:

IFA and Mortgage Advisors are going to be extinct soon anyway. They are becoming more and more not needed as consumers educate themselves and go direct, the need to pay commission for a sale and then ongoing fee to maintain is really a waste of a consumers money.

I suspect you do not get out much and have contact with people if you think that.
Indeed, you just have to spend a day on here to see the mistakes people are making when they DIY.
Also, what commission are you referring to?  It hasn't existed since the end of 2012.
And you are mistaken if you believe that going DIY automatically saves money.   90% of DIY investments are on one platform which is nearly double the cost of a typical IFA platform and a good chunk of that money goes into their own-brand funds which results in higher charges than a typical IFA portfolio.
DIY well and you can save money. DIY badly and it can be very costly.

Prism

IAMIAM said:

IFA and Mortgage Advisors are going to be extinct soon anyway. They are becoming more and more not needed as consumers educate themselves and go direct, the need to pay commission for a sale and then ongoing fee to maintain is really a waste of a consumers money.

What seems apparent to me is that plenty of consumers don't educate themselves (or try and find it too complicated) and then go direct and then make a bit of a mess of it. Anyone who has been surprised by the fall in their investments over the last few months has clearly done it wrong or misunderstood. Some might be put off from investing completely going forwards. There is still plenty of scope for IFA's to help.

george4064

I am an In-Flight Attendant (IFA), I hope you had a pleasant flight and from all the team, we wish you a safe onward journey.

Voted Yes. 

eskbanker

Malthusian said:

Advisers probably appear in dramas as frequently as accountants, dentists, and any other unglamorous white collar service profession. (Blue collar service professions are depicted on film more frequently thanks to !!!!!!.)

Conjures up a disturbing image of some sort of innuendo-laden "Confessions of an IFA", with a Robin Askwith figure leering over a nubile young lady, "ooh can I get my hands on your assets, let's get you into some bonds, look at the size of these returns, can't wait to make a deposit", etc, etc

Oops, did I say that out loud?