Income from savings advice

cwep2

One final thing re IFA - they can be useful to assess the situation and recommend how to structure your wealth, but if you use them to invest they will often charge an ongoing %age fee. This may be good value if you don't want to have to think too hard about this sort of thing (cash rich, time poor) or if the best use of your time is focussing on your work/business/free time rather than managing money. It may be worth paying them a one-off fee (probably low 4 figures) to do an initial assessment/recommend a plan and then invest yourself via a low cost place. This is fairly common and most IFAs will be open to this sort of meeting. 

Albermarle

cwep2 said:

One final thing re IFA - they can be useful to assess the situation and recommend how to structure your wealth, but if you use them to invest they will often charge an ongoing %age fee. This may be good value if you don't want to have to think too hard about this sort of thing (cash rich, time poor) or if the best use of your time is focussing on your work/business/free time rather than managing money. It may be worth paying them a one-off fee (probably low 4 figures) to do an initial assessment/recommend a plan and then invest yourself via a low cost place. This is fairly common and most IFAs will be open to this sort of meeting. 

Good Comments but just to add, we have had posters on here finding it difficult to get this one off advice. The FA/IFA is keen to get them on the ongoing fee structure as well. If this is the case, then you can always agree to it and cancel it after a while.
Normally the initial meeting is free as it is more of a get to know you meeting than anything else.

To add to the comments in bold - I think very simply many people go to an IFA, because they have no interest in, or are totally confused by this 'money stuff' .