FSA? Not sure that's what we need is it?

JenT

This is where I show my ignorance!
My husband has just been given a heap of information about a new pension / benefits plan for his work. He has some important decisions to make regarding the choices he's been given.
We have been saying for ages that we needed some financial advice and his pension siutation has forced our hand.
However when looking though the phone book this mornig for FSA's I've thought that it's probably not what we need. The main info we need is regarding a product my husband already has bought into so we aren't looking to buy. I think I'm right in saying FSA's are there to give advice on products aren't they?
So where can we get advice on this complex situation?

dunstonh

FSA = Financial Services Authority. They are the regulator.

I think I'm right in saying FSA's are there to give advice on products aren't they?

Tied agents (such as those that work for insurance companies and banks) can only give advice and sell their own product range. Not what you need here.

IFAs (independent financial advisers) are what you are after.

There is a database of these at www.unbiased.co.uk You can search by postcode but dont filter by qualification as that is highly flawed (so many qualifications over the years that if you select one it will not include those that have a comparable or higher qualification).

Retired_I.F.A.

The FSA is there to regulate those that give advice. What you need is an independent financial adviser (IFA) See. www.unbiased.co.uk

edit..

I posted that before seeing Dunstonh's post.

purch

I think I'm right in saying FSA's are there to give advice on products aren't they?

They can give you advice on a 'Balanced Diet' :eek:

In fact the F.S.A. is the best place to go for any Food related queries you may have.

JenT

Oh dear, yes even more ignorant. Yes, what I meant was an IFA! All these acronyms get so confusing!
So.. an independant financial advisor would be happy to give us advice on a product that we already have even though they would not be getting any commission on it?

(I do realise that you can also pay an IFA an hourly rate (as opposed to them getting commission) but presume that whatever way they get paid they will still work in the same way.)

dunstonh

So.. an independant financial advisor would be happy to give us advice on a product that we already have even though they would not be getting any commission on it

Yes. Although you ought to be prepared to be told they may only give advice for a fee in this case.

Sometimes you can answer a quick question in the initial free appt.

JenT

Thank you!