Independent Financial Advisor Recommendations

masonic

datadezign said:

The searching on Google is like trying to fish for seam bream in a pond 

There are a few bespoke search engines / directories. For example https://www.unbiased.co.uk/ and https://www.vouchedfor.co.uk/

Advisers may need to pay to be listed in services like this.

Albermarle

datadezign said:

If Someone recommended a butcher or a fishmonger. At least I would have a bigger choice of fishmongers and butchers in my area to choose from, especially if some of them don’t advertise on say Google. I can then do my own due diligence by engaging in initial discussions, and correspondence to see how they compare to others. if they appear to have integrity, I would then ask them for a list of their own existing clients (after they have had their clients approval) for testimonials via direct contact. I can then, and only then make my own opinion on any one particular IFA, based on, not just my research but on my gut feeling, which IFA I believe I can trust. If you are restricted to give direct recommendation on this forum to say a particular firm. Would it not be possible to offer a list of IFA’s you may know of in my area, of around a 25 mile radius. That way you have not given a definitive recommendation.

I can understand your reasoning, but you are probably going a bit OTT in your search for an IFA, in asking for testimonials etc .
Firstly as I understand it, there is a kind of shortage of IFA's, so they have to want to do business with you, as much as you want to do business with them. If they think you might be a difficult customer then they might not engage or charge a high price.
Secondly an IFA's activities and advice to you is highly regulated, and they have to follow a lot of set procedures, otherwise they can be significantly penalised. So of course you want to feel good about the person you are working with, but none if them can just do their own thing, unless they are an out and out fraudster of some kind and you are covered for that.
There is a website somewhere that does identify IFA's who have been in trouble with the authorities, which might be worth a check .

dunstonh

 I would then ask them for a list of their own existing clients (after they have had their clients approval) for testimonials via direct contact. 

Data protection would have a field day with that.

Plus, look at this the other way around. A stranger contacts you out of the blue asking for your client list and contact details so they can contact them about you.    What is next?  A private detective? 

eskbanker

masonic said:

When someone is recommending a company with a significant presence in the both the market and on the internet, and can be readily researched by any reader, then the balance of probabilities would be shifted quite a bit, I'd have thought. The problems start to creep in when a referral is being made to a rather more obscure individual or company that could only be researched by getting in touch with them personally. MSE also has a particular sensitivity to the area of financial advice. In any case, as dunstonh mentions above, warnings were made, and so this discussion is getting quite close to criticising forum team decisions on the forum, which is itself against the rules.

For the avoidance of doubt, I'm certainly not criticising forum team decisions - I was simply seeking some sort of backup to a long-term poster's assertion that "it is against the site rules to provide personal recommendations", as the rules themselves don't actually appear to state this, although as you say they do prohibit self-promotion.

There does seem to be a bit of a grey area in between blatant shilling and genuine well-meaning independent recommendations, so I don't envy the admins who have to make those decisions and can understand why they might err on the side of caution if there's any doubt about bona fides....

datadezign

Thank you … so back to google!

datadezign

We have to protect, hence rules and regulations, and then the choice to speak wether it be true or not becomes restricted, and the divide between what is democratic or not is questioned, through restricted freedom of opinion and the choice to offer unrestricted advice??

datadezign

This becomes cloak and daggers and lack of trust with everyone. Let the recipient make their own informed decision as to what is genuine advice or not. 

datadezign

Yes … blatant canvassing should be suppressed and knowledge of such people that offer potentially bad advice, should immediately be banned from the forum, and as with lenders be on a register list that is shared between other forums, to prevent future events. But to prevent the benefit of users sharing good, and genuine advice, is not beneficial to the advice users seek.

masonic

In addition to posting your four replies, did you get around to checking out the two links I posted above? Were they helpful? Or did they not provide any leads for you to follow up?

dunstonh

For the avoidance of doubt, I'm certainly not criticising forum team decisions - I was simply seeking some sort of backup to a long-term poster's assertion that "it is against the site rules to provide personal recommendations", as the rules themselves don't actually appear to state this, although as you say they do prohibit self-promotion.

One of the regulars got a warning for recommending a specific firm was used (although didn't proceed with employing them beyond contact) and told not to do it again or be full banned.   

There was no self-promotion or any other kind of influence   It was a genuine recommendation of a firm that they had been in contact with themselves.  The board admin couldn't point to any rules but it resulted in that poster no longer contributing here when their time ban expired.