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Do I need to speak to an IFA?
Comments
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They’re fees look a lot higher than a local IFA.taper said:Via Unbiased I have been put in touch with a company called The Private Office who should be contacting me later today re IFA. Has anyone heard of them or had any experience of them? It will just be an initial intro call today!I am an Independent Financial Adviser (IFA). Any posts on here are for information and discussion purposes only and should not be seen as financial advice.0 -
Probably need to be to pay the new extortionate fees for listing on unbiased (and Vouchedfor).wjr4 said:
They’re fees look a lot higher than a local IFA.taper said:Via Unbiased I have been put in touch with a company called The Private Office who should be contacting me later today re IFA. Has anyone heard of them or had any experience of them? It will just be an initial intro call today!
According to their website, their minimum fee is higher than our maximum fee. And, I cannot believe I have seen this, but they charge £3,725 for drawing a DB scheme. I suspect most IFAs don't charge a penny when its existing clients and just help with the paperwork.
They do have a cap by the looks of things, but I suspect from their pricing levels that they are focused on high-net-worth individuals rather than middling consumers and their pricing reflects their typical market
I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.2 -
A one-track record... best left alone.squirrelpie said:
When who takes a big chunk for what reason?Ibrahim5 said:When they take a big chunk of what you have earned it's not really making the most of it.0 -
Ok I did wonder but not knowing much about IFA’s I wasn’t sure. I think I will avoid and endeavour to find someone local!wjr4 said:
They’re fees look a lot higher than a local IFA.taper said:Via Unbiased I have been put in touch with a company called The Private Office who should be contacting me later today re IFA. Has anyone heard of them or had any experience of them? It will just be an initial intro call today!I was hoping the referral through Unbiased would do that but The Private Office is no where near me!1 -
I was hoping the referral through Unbiased would do that but The Private Office is no where near me!Unbiased is no longer an IFA directory. Indeed, they have cut off most local small firm IFAs with their new pricing and its only the salesforces and large firms that can afford to be on there now.
https://citywire.com/new-model-adviser/news/unbiased-fee-hike-will-put-an-end-to-hidden-costs-for-ifas/a2426845
Now pricing begins at £302 pm. It was £32pm previously. And it turned into a lead generation service rather than a directory of advisers. That is why you no longer see most IFAs on there. They also now list restricted FAs as well.
I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Incredibly expensive, but I agree, they are focusing on HNW and not regular clients.dunstonh said:
Probably need to be to pay the new extortionate fees for listing on unbiased (and Vouchedfor).wjr4 said:
They’re fees look a lot higher than a local IFA.taper said:Via Unbiased I have been put in touch with a company called The Private Office who should be contacting me later today re IFA. Has anyone heard of them or had any experience of them? It will just be an initial intro call today!
According to their website, their minimum fee is higher than our maximum fee. And, I cannot believe I have seen this, but they charge £3,725 for drawing a DB scheme. I suspect most IFAs don't charge a penny when its existing clients and just help with the paperwork.
They do have a cap by the looks of things, but I suspect from their pricing levels that they are focused on high-net-worth individuals rather than middling consumers and their pricing reflects their typical marketI am an Independent Financial Adviser (IFA). Any posts on here are for information and discussion purposes only and should not be seen as financial advice.0 -
Go on google, speak with a few local IFA firms (check they are independent). Find out their fees and then go from there. The first meeting is always free of charge for you anyway.taper said:
Ok I did wonder but not knowing much about IFA’s I wasn’t sure. I think I will avoid and endeavour to find someone local!wjr4 said:
They’re fees look a lot higher than a local IFA.taper said:Via Unbiased I have been put in touch with a company called The Private Office who should be contacting me later today re IFA. Has anyone heard of them or had any experience of them? It will just be an initial intro call today!I was hoping the referral through Unbiased would do that but The Private Office is no where near me!I am an Independent Financial Adviser (IFA). Any posts on here are for information and discussion purposes only and should not be seen as financial advice.0 -
You might want to try this free service to find an independent, or otherwise, advisor. https://www.evidenceinvestor.com/find-an-adviser/-1
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Do not use that site. John has been asked repeatedly not to promote it but continues to do so. (they earn from referring you to an adviser, but there is no indication of the type of adviser - i.e. restricted or IFA, and they promote using their own unregulated service. The site also uses American terminology - such as references to fiduciary, which is not used in the UK. So, is it genuine? (none of the IFAs here have heard of this site before). UK adviser firms have been warned about being linked with unregulated introducers. One key area is financial promotions, such as websites promoting a service that does not meet regulatory requirements).JohnWinder said:You might want to try this free service to find an independent, or otherwise, advisor. https://www.evidenceinvestor.com/find-an-adviser/
I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.1 -
American website, based in Arizona. Red flags galore.dunstonh said:
Do not use that site. John has been asked repeatedly not to promote it but continues to do so. (they earn from referring you to an adviser, but there is no indication of the type of adviser - i.e. restricted or IFA, and they promote using their own unregulated service. The site also uses American terminology - such as references to fiduciary, which is not used in the UK. So, is it genuine? (none of the IFAs here have heard of this site before). UK adviser firms have been warned about being linked with unregulated introducers. One key area is financial promotions, such as websites promoting a service that does not meet regulatory requirements).JohnWinder said:You might want to try this free service to find an independent, or otherwise, advisor. https://www.evidenceinvestor.com/find-an-adviser/Domain Name: EVIDENCEINVESTOR.COMRegistry Domain ID: 1924042433_DOMAIN_COM-VRSNRegistrar WHOIS Server: whois.godaddy.comRegistrar URL: https://www.godaddy.comUpdated Date: 2020-04-29T12:36:02ZCreation Date: 2015-04-28T08:27:41ZRegistrar Registration Expiration Date: 2025-04-28T08:27:41ZRegistrar: GoDaddy.com, LLCRegistrar IANA ID: 146Registrar Abuse Contact Email: abuse@godaddy.comRegistrar Abuse Contact Phone: +1.4806242505Domain Status: clientTransferProhibited https://icann.org/epp#clientTransferProhibitedDomain Status: clientUpdateProhibited https://icann.org/epp#clientUpdateProhibitedDomain Status: clientRenewProhibited https://icann.org/epp#clientRenewProhibitedDomain Status: clientDeleteProhibited https://icann.org/epp#clientDeleteProhibitedRegistry Registrant ID: Not Available From RegistryRegistrant Name: Registration PrivateRegistrant Organization: Domains By Proxy, LLCRegistrant Street: DomainsByProxy.comRegistrant Street: 2155 E Warner RdRegistrant City: TempeRegistrant State/Province: ArizonaRegistrant Postal Code: 85284Registrant Country: USRegistrant Phone: +1.4806242599Registrant Phone Ext:Registrant Fax:Registrant Fax Ext:Registrant Email: Select Contact Domain Holder link at https://www.godaddy.com/whois/results.aspx?domain=EVIDENCEINVESTOR.COMRegistry Admin ID: Not Available From RegistryAdmin Name: Registration PrivateAdmin Organization: Domains By Proxy, LLCAdmin Street: DomainsByProxy.comAdmin Street: 2155 E Warner RdAdmin City: TempeAdmin State/Province: ArizonaAdmin Postal Code: 85284Admin Country: USAdmin Phone: +1.4806242599Admin Phone Ext:Admin Fax:Admin Fax Ext:Admin Email: Select Contact Domain Holder link at https://www.godaddy.com/whois/results.aspx?domain=EVIDENCEINVESTOR.COMRegistry Tech ID: Not Available From RegistryTech Name: Registration PrivateTech Organization: Domains By Proxy, LLCTech Street: DomainsByProxy.comTech Street: 2155 E Warner RdTech City: TempeTech State/Province: ArizonaTech Postal Code: 85284Tech Country: USTech Phone: +1.4806242599Tech Phone Ext:Tech Fax:Tech Fax Ext:Tech Email: Select Contact Domain Holder link at https://www.godaddy.com/whois/results.aspx?domain=EVIDENCEINVESTOR.COMName Server: SANDY.NS.CLOUDFLARE.COMName Server: THEO.NS.CLOUDFLARE.COMDNSSEC: unsignedURL of the ICANN WHOIS Data Problem Reporting System: http://wdprs.internic.net/>>> Last update of WHOIS database: 2024-05-20T15:18:25Z <<<0
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