Perspective IFA

kangoora

My local IFA is selling up to these. I've spoke to my usual contact and have been promised keeping on the same terms, no tie-in, full IFA status/whole of market and no exit fees if I should decide to leave.

I've yet to receive the paperwork to review it

Anyone have any experience with these or knowledge of them?

dunstonh

Do you know which Perspective company you will be dealing with?
According to their website, Perspective are not actually IFAs.  The companies that are within their group are the ones that give the advice.

kangoora

I've been told they will come under Perspective North East based in Newcastle

dunstonh

So, that will be the company that you will be looking for opinions on. (each company within that group is its own regulated entity).
However, seeing as you haven't had anyone reply so far, I suspect you wont get lucky with responses.

IFA firms are generally small localised firms with a handful of advisers in them.  They don't have much coverage on the internet.  The regional firms may have more and the nationals will.

zagfles

As mentioned in another thread another quick check you could do is see if they've had any FOS decisions against them:

https://www.financial-ombudsman.org.uk/decisions-case-studies/ombudsman-decisions

As discussed here: https://forums.moneysavingexpert.com/discussion/6228557/ifa-charges/p3

kangoora

Cheers both. No decisions raised at all. Guess I'm going to need to make a call although it seems it will be business as usual at the moment with my existing IFA office being bought out and just becoming part of the new firm.

dunstonh

kangoora said:

Cheers both. No decisions raised at all. Guess I'm going to need to make a call although it seems it will be business as usual at the moment with my existing IFA office being bought out and just becoming part of the new firm.

Is the IFA (as in adviser) staying with them or calling it a day?
They may well continue with little change.   The structure they appear to have does not require each "member" firm to follow the same process/methods etc.   They may decide to standardise the lot across their firms but from a regulatory point of view they don't need to.    Wait to see what happens.