Financial advisor fees

Gobigorgohome

aroominyork said:

You say you "only want an advice where to invest". What exactly do you mean? It sounds like you do not want an adviser to manage your investments for an ongoing fee. Do you want to know how to plan and structure your assets, or advice about specific investments (ie which funds)? 

Yes just need a one off advice what to do with redundancy money that will be the best option.

Eyeful

Some basic info:

1. Any money needed within 5 years should be in either
(a) NS&I savings account, which will be 100% protected (you are loaning money to the UK government).
(b) In a Bank or Building Society account that is protected up to £85000, by the FSCS.

2. Investing 
You should leave investments untouched for a minimum of 5 years. The longer the better. . 

3. Ask a financial adviser directly " are you an IFA or an FA".
Independent Financial Advisors (IFA) are supposed to work for you and look at the whole of the market.
Financial Advisors(FA) work for the company that employs them and will give advice on that companies products.

4. Read this:
https://www.moneysavingexpert.com/savings/best-financial-advisers/

eskbanker

Gobigorgohome said:

aroominyork said:

You say you "only want an advice where to invest". What exactly do you mean? It sounds like you do not want an adviser to manage your investments for an ongoing fee. Do you want to know how to plan and structure your assets, or advice about specific investments (ie which funds)? 

Yes just need a one off advice what to do with redundancy money that will be the best option.

A financial adviser won't be able or willing to consider that request in isolation and needs to consider the full context of all of your assets, as this will obviously influence what the best thing is to do with this new money.

You mention needing access to the money but also that you have £100K in savings, so it's not unreasonable to want to see the bigger picture....

cockerWalker

I'd suggest deciding what you want to achieve with the money. While an advisor may help clarify this, that can be a slow and expensive process.

Whatever amount of money that you decide must be available, cannot be risked, and is needed within 5 years (ballpark) should be in a cash like asset.

For things that you do want to invest many providers offer sample portfolios which may help. These aren't tailored to your specific needs but may help and you won't pay anything to read about them. E.g. aj bell cautious, balanced, adventurous and income https://www.ajbell.co.uk/investment/ideas/starter-portfolios