Independent Financial Advisor Recommendations

datadezign

Hi Masonic the first one yes, with only one result. The second one hadn’t but thank you will now take a look to see what this finds.

Thanks again for your constructive offer, hopefully this may bear fruit 👍

datadezign

masonic said:

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?

I’ve since gone on the latter suggested website and has come up with quite a few IFA’s in and around my local area, so will be making a few calls next week. It appears that most of them offer a free first 1 hours consultation. So looks like I will have many meetings to arrange.! 

Many thanks again, very helpful 👍

datadezign

dunstonh said:

 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? 

Think you’ve misunderstood. I have used this process many times, with good results. This would not be a random ad hock enquiry. Only after one or several discussions, meetings, testimonials are requested. The advisor asks one or more of their clients if they are willing provide a testimonial to their potential new client (me) and to talk to me direct. They agree or not. A letter of authority is signed to avoid any data protection breach. That is perfectly legal. 

J_B

Linton said:

Sorry it is against the site rules to provide personal recommendations.

How is it any different to me asking for recommendations for a light fitting for a bathroom?

Daliah

datadezign said:

dunstonh said:

 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? 

Think you’ve misunderstood. I have used this process many times, with good results. This would not be a random ad hock enquiry. Only after one or several discussions, meetings, testimonials are requested. The advisor asks one or more of their clients if they are willing provide a testimonial to their potential new client (me) and to talk to me direct. They agree or not. A letter of authority is signed to avoid any data protection breach. That is perfectly legal. 

Are you saying that despite having used your process many times, you still have not been able to find an IFA you’d be happy with?

masonic

J_B said:

Linton said:

Sorry it is against the site rules to provide personal recommendations.

How is it any different to me asking for recommendations for a light fitting for a bathroom?

If you want an explanation as to why the forum team has previously taken action against a poster making a recommendation relating to financial advisers it would be better to drop a message to the Forum Team via forumteam@moneysavingexpert.com rather than discussing it on the forum. It's probably been discussed already as far as it can be within this thread. See this post for an explanation of what action was taken. Likewise, if you want to ask whether you can refer the OP to an adviser in this thread, better to check if anything has changed before posting.

masonic

datadezign said:

dunstonh said:

 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? 

Think you’ve misunderstood. I have used this process many times, with good results. This would not be a random ad hock enquiry. Only after one or several discussions, meetings, testimonials are requested. The advisor asks one or more of their clients if they are willing provide a testimonial to their potential new client (me) and to talk to me direct. They agree or not. A letter of authority is signed to avoid any data protection breach. That is perfectly legal. 

You want the adviser to canvas their client list to find some who are willing not only to give a bit of feedback, but to have their contact details passed to a random person so they can get on the phone and question them about the adviser? And you want them to do all of this free of charge? It may be legal but it's a significant imposition. In a field where demand tends to exceed supply, I wonder if your approach is raising a red flag to advisers, who are then deciding they are 'too busy' to take you on after all.

datadezign

I ask the question if it’s possible for them to offer a testimonial and contact, they reply yes or no, which I accept. If the answer is yes, they may already have a client that has already stated they may be prepared to talk to another client. If the answer is no, that’s as you have said maybe because they feel it is inappropriate to ask their clients, that’s also fine if that’s the case. I have asked this question before, but not in this field. So perhaps my comments have been miss understood, or I have explained incorrectly Apologies if that is the case.

datadezign

Masonic as said thank you for your links, these have now given me a more comprehensive list of contacts.

masonic

datadezign said:

I ask the question if it’s possible for them to offer a testimonial and contact, they reply yes or no, which I accept. If the answer is yes, they may already have a client that has already stated they may be prepared to talk to another client. If the answer is no, that’s as you have said maybe because they feel it is inappropriate to ask their clients, that’s also fine if that’s the case. I have asked this question before, but not in this field. So perhaps my comments have been miss understood, or I have explained incorrectly Apologies if that is the case.

They may have testimonials (a small number of IFAs use Trustpilot and other review sites to collect them, while others will surely collect such feedback themselves), but it is less likely that the individuals giving a testimonial have agreed for their contact details to be passed to anyone who wants to discuss in further detail. Some might, but it would be quite restrictive if you wanted to exclude those who do not (though it sounds like you do not intend to do that).