How do I know if an IFA is good?

JohnWinder

1 A personal recommendation by someone who knows what they're talking about would be high on my list of 'how do I know...'

2 The more you know about the matters the adviser will need to deal with, eg investment choices, pension income choices, taxation etc, the better you would be able to evaluate an adviser. That's the unfortunate reality for folk who can't DIY; if you're well placed to evaluate them, you don't need them.

3 Investment choices fall broadly into two camps: passive (index following) or active (explicitly trying to choose 'winners'). 'The quality of the financial advice provided by passive advisers is more highly regarded by the most financially literate, a new study shows. Less financially savvy, overconfident people, on the other hand, tend to seek out advisers who advocate active investing.'  https://www.evidenceinvestor.com/post/savvy-investors-rate-passive-advisers-more-highly-study-finds That might be part of 'how do I know....'

wjr4

JohnWinder said:

https://www.evidenceinvestor.com/post/savvy-investors-rate-passive-advisers-more-highly-study-finds That might be part of 'how do I know....'

Stop trying to advertise your services!

JohnWinder

I have no services to offer outside the building and construction industry. Phone me if you need concrete poured. I dabble in horticulture and personal finance for my own amusement, and the annoyance of the odd person. Regrets.

dunstonh

JohnWinder said:

I have no services to offer outside the building and construction industry. Phone me if you need concrete poured. I dabble in horticulture and personal finance for my own amusement, and the annoyance of the odd person. Regrets.

So, why do you keep advertising this site despite being told it is not FCA regulated and offers unregulated services at a cost?

Janineeo

Thank ypu everyone for your helpful comments. I now have a good understanding of the pros and vons of my current pension with Prudential. I need to do a lot more reading around the different types of fund I can move the money to and I will be back with more questions. Thanks again for being so helpful