Investing life assurance lump sum

flustered&confused

dunstonh said:

I have looked at independent financial advisors (some I found via search tools on this website) but the trust pilot reviews were frightening.

Are these actually IFAs?    As I mentioned, most IFA firms are small and have a similar internet footprint to your local butcher.   Most won't appear on places like Trustpilot.     IFAs are still mostly like solicitors and accounts of old with a small local office in a village or converted barn on a farm.  They haven't consolidated into national size yet (although its trending that way).    The salesforces, which are mostly FAs rather than IFAs, tend to have big offices and big internet presence and also tend to get mixed review

I found the search engines unbiased and vouchedfor on this site. one of them sent me a link to a small company whose reviews were not great. Do you have any advice on the best way to find an IFA - no one I know uses one (clearly - previous advice received from a friend was SJP)

flustered&confused

Alexland said:

There is so much written about investments it can seem overwhelming but after a while you start being able to recognise the dross (hot individual share tips, active managers suggesting they have a method to outperform the markets at lower risk, conspiracy theorists predicting the next crash, marketing department drivel, platform 'best buy' fund lists, etc) and focusing on the useful information (like when and how to use the different tax wrappers, different ways to investment, what return and risks to expect from different assets classes, the alchemy of diversification, geographic and sector weightings, suitable investment timescales, maintaining spending power against inflation, active vs passive, etc).

Honestly, this is mind blowing to me but I will learn! 

flustered&confused

xylophone said:

Re IFA had you tried

https://adviserbook.co.uk/

Tick confirmed independent and other options required when the menu comes up.

Thank you for this, I have had a quick look now and there are a wealth of possibilities. Do you perhaps have any advice on how you would choose from such an extensive list (at least to narrow down?)

xylophone

Have you ticked confirmed independent and all other options you require, including methods of giving advice and methods of paying fees?

Is the list still extensive?

dunstonh

flustered&confused said:

dunstonh said:

I have looked at independent financial advisors (some I found via search tools on this website) but the trust pilot reviews were frightening.

Are these actually IFAs?    As I mentioned, most IFA firms are small and have a similar internet footprint to your local butcher.   Most won't appear on places like Trustpilot.     IFAs are still mostly like solicitors and accounts of old with a small local office in a village or converted barn on a farm.  They haven't consolidated into national size yet (although its trending that way).    The salesforces, which are mostly FAs rather than IFAs, tend to have big offices and big internet presence and also tend to get mixed review

I found the search engines unbiased and vouchedfor on this site. one of them sent me a link to a small company whose reviews were not great. Do you have any advice on the best way to find an IFA - no one I know uses one (clearly - previous advice received from a friend was SJP)

There currently isnt a good directory for IFAs.   FAs and salesforces dominate the directories.  Partly as many IFAs do not need to advertise and are running at capacity.   So, there is no point in paying £300-£3000 per month to get on those listing sites.     Google tends to be a good place to start.    Facebook community pages tend not to be a good place to ask as more often than not, SJP sales reps or True Potential reps get heavily mentioned.

flustered&confused

xylophone said:

Have you ticked confirmed independent and all other options you require, including methods of giving advice and methods of paying fees?

Is the list still extensive?

Sorry, you did say to use the filter before and I missed it! That brought it down to two! I’ll start researching them. Thank you

Beddie

flustered&confused said:

xylophone said:

Have you ticked confirmed independent and all other options you require, including methods of giving advice and methods of paying fees?

Is the list still extensive?

Sorry, you did say to use the filter before and I missed it! That brought it down to two! I’ll start researching them. Thank you

Also look in your own town - google "IFA" where you are. Avoid ads and tied advisers such as SJP, NFU etc. Depending on the size of town you live in, there might only be one or two firms. Get in touch and see what impression you get - they always offer a free initial chat. Don't rely on online reviews, they are not much use for this type of thing.

ShinyStarlight1

flustered&confused said:

my husband passed away recently. 

I am very sorry for your loss. As it happened recently, you may be dealing with a great many things, both practical and emotional, and it can feel overwhelming.

Take your time, sift through the comments on this forum, and ask any questions you like. 

Wishing you peace.