IFA Only Platforms

TribalGirl

I'm in my twenties and just come into some money which I'm planning on investing. I've spoken to an IFA and received their advice. I'm happy with my risk profile and the funds recommended, but I'm a bit unsure about using an IFA only platform.

What are the pros and cons of this kind of platform?

I'm quite happy to look after my investments myself once my IFA has helped me to invest them. I suppose I'm a bit worried I'm going to be tied in to using an IFA forever if I go for this platform.

Any advice welcome...

dunstonh

What are the pros and cons of this kind of platform?

None at all. Platforms originally started for IFAs. The ones you get on the web are often front ends for the very same platforms. Fidelity is probably the most common one where they provide the backend and others can have their own front end. A few are also IFAs who have built their own one (HL for example).

I'm quite happy to look after my investments myself once my IFA has helped me to invest them. I suppose I'm a bit worried I'm going to be tied in to using an IFA forever if I go for this platform.

Let the IFA know that. That would rule out Cofunds (they have online access but dont allow switches directly from client). Fidelity and Skandia/Selestia have client access and ability to purchase, sell and switch direct from client or IFA.