Pension value diving

Linton

roadweary said:

dunstonh said:

roadweary said:

dunstonh said:

Tbh, I've been skeptical of taking advice from an IFA as I see no 'league table' or proof of how good their advice is.  

How would you league table advice?  It's either good or bad, and you get consumer protection against the bad.

Percentage growth in funds per year perhaps?

That would be a very bad way to measure advice.

1) how would you compare low risk investors with high risk ones?
2) advisers have no impact on the investment returns of funds.  
3) Linking charges to performance would increase the charges you pay as positive periods outnumber negative.  It would also create risk bias.

Advisers' priority is to put in place suitable investments.  Not to try and outperform when it's impossible to know what is going to perform best in the future.

That makes sense. How would you suggest somebody select an IFA?

Talk to family and friends perhaps.  But there is the danger that they have been enticed by those nice people in sharp suits who invite them round to the plush office  for a meet & drink.  I think the best way is to identify say 3 small local IFA businesses and set up a free half hour meeting with each one where you can explain what you want and they can explain what they can provide and the likely costs.  Then chose the one who you feel would be easiest to work with.