Financial advisor help

dilby

Hi everyone - I've recently had a little one and it's given me a huge nudge to get my finances in order; this includes topics such as making sure my pension is on track for better retirement planning (i'm self employed so could do with some good advice) and savings. I've previously had an IFA when getting a mortgage who set up my current pension but I found they only really wanted to sell me things and were limited by who they had access to. I've heard the same criticism about IFA's from others but perhaps it's misguided and I just got unlucky. But really I want someone truly unbiased who ideally can't sell me things, and I just pay them for their time as a consultant. Does such a thing exist and if so what are they called, or does someone have an idea for a better approach? I'm just generally not too smart at this and have to admit when I need help. Thanks!

dunstonh

 I've previously had an IFA when getting a mortgage who set up my current pension but I found they only really wanted to sell me things and were limited by who they had access to.

a) most IFAs don't do mortgages.   Although IFA firms will often have mortgage advisers that do
b) IFAs are whole of market and not limited in terms of access.
c) FAs are limited and many of which are salesforces.

So, in all probability, you didn't see an IFA but an FA or mortgage adviser.

I've heard the same criticism about IFA's from others but perhaps it's misguided and I just got unlucky. 

FAs get criticism, much for the reasons you have given.  IFAs don't get criticised for those things.   Usually, the only real moan about some IFAs is their cost. 

 But really I want someone truly unbiased who ideally can't sell me things, and I just pay them for their time as a consultant.  . Does such a thing exist and if so what are they called,

That would be an IFA.

xylophone

https://adviserbook.co.uk/

You could try above - tick "confirmed independent" and other options as required when the menu comes up.

JohnWinder

You've likely got time (months/years) to gain some knowledge of the retirement financial planning field, and time (decades) to benefit from that knowledge, regardless of whether you eventually decide to pay an advisor.

Scan the contents and decide whether your first book might be Powell and Hollow's How to fund the life you want, or Hale's Smarter Investing which has a narrower but important focus. Set yourself up for life.

Aminatidi

I'm sure IFAs have their place but for many people don't dismiss how much you can learn from spending some time doing the sort of research you'd probably do when buying a new car or TV.

Eventually all the stuff that makes no sense starts to make sense and there's some basic truths like paying an IFA to tell you you need to save more money than you possibly are may not be something that you actually need an IFA to tell you 😀

NoviceInvestor1

Making sure your pension is on track doesn’t sound like it needs an IFA to be honest. As others have suggested, some basic research can help on this quite easily. 

Albermarle

OP you do not mention the size of your pension pot ( or any other investments). You will struggle to get an IFA interested if it is less than £50K , or £100K in some cases/areas.