Financial advisor moved to another company.

Notnobody

A few months ago I contacted a company about investing my modest savings as bank interest was so poor.  I don't live in the UK so can't open any new accounts there. I was assigned an advisor who asked for information and I completed a risk profile questionnaire.  The money was invested in a package of long-term products suitable for my situation.  The advisor has now moved to another company so I have the choice of moving with him or getting to know a new one in the original company.  How do I decide?

cattie

If the advice he gave you has given you a pretty decent return on your investment so far, then I'd be inclined to continue to be one of his clients. 

kuratowski

Do you like the individual advisor and find it easy to discuss financial matters with him?  Is he currently an independent financial advisor and will he remain independent?

ColdIron

What about if the new company were to be St James's Place or similar with a very different range of investments and or charges?

dunstonh

How do I decide?

Firms that deal with ex-pats tend to have a higher turnover in staff.   When you deal with an employee adviser of a firm with a high turnover then that is one of the risks.

You decide by looking at what the new adviser is doing.    If they are moving from IFA to FA then you would not normally follow.  If they are moving from FA to IFA then that is a good thing.   If you are happy with the existing firm and they have a firm-specific process (i.e. same investment strategy etc across the firm) then things should continue with the replacement adviser.   The only difference is a getting to know you repeat and differences in personality.    However, chances are it will happen again given the higher turnover.