How to find an I.F.A

Nickelsandimes

Hi,

I have posted on the "anything else" board if this is the wrong place, but can anyone help me find an Independent Financial Advisor with expat experience.

I do not have assets, just income/debt and I want to find someone to take a look at our personal finances, our income and help us work forward in the best way to save money. I am happy to spend money to save money.

The expat part is because my Husband is the expat and we are intending to repatriate ASAP, but really need to know what to pay off first and how to leave our affairs as tidy as possible in the UK (paying credits towards my pension etc) as well as filing U.S tax returns and so on and which loan can follow us- the bank says it can, but at what cost (and so on)

I have searched the net and places like unbiased.co.uk, but I am not looking for insurance or pension advice which they all seem to ask for as searching criteria. I suppose I am looking for a personal finance expert if that is not what an I.F.A does

Can anyone help?
Thanks
N&D

[Deleted User]

If you look on the website of unbiased.co.uk - click on Find an IFA - in the list of areas of interest is tickbox regarding Expatriate Services.

Might be worth completing this and seeing what comes back.

Nickelsandimes

Hi Ice,

Thanks for your reply, but I already tried unbiased.co.uk ( I think I said this in my original post- not sure now) and contacted an IFA and they were disinterested. Even if you choose a fee based appt, they are really only interested if you have a lot to invest or require services they can make commission on.

One responded to me ( I think the intention was kind) to say a CAB person wouldn't cost me anything for debt management- which is very good advice, but not an option for us. We do have debt, and we are working hard at it, but a debt management plan is not the way to go for us and we really wanted to make sure we are smarter with our money in the future - but still no-one can help us it seems, so we were forced to just see our own banking advisors, who came up with a plan, albeit not the most independent and favourable it could be.

I think I need to find a normal person who is just very savvy with money on the UK/USA side...........so if anyone reads this and the cap fits, do respond

Thanks again

N & D

[Deleted User]

You situation sounds complex but may not be. If you have debt then you need to deal with that first and a debt management plan- which you can either work out yourself - or with the help of CAB will help.

The future is important - but until you sort out the present you cannot plan for the future.

CAB can help you prioritise your debt - not all debts warrant the same priority. They can also liaise with creditors on your behalf to take the heat off you.

If you give them a try - it won't cost you anything but your time.

Nickelsandimes

Hi again,

Yes, the situation is complex, but only in that various options are not available due to an imminent move back to the USA. We have done the work and moved to a much cheaper rental property and re-structured a loan to free up the cash to pay off the debt and finally making inroads.

It was the same old story, being ignorant of the store card/credit card rates and being forced into a position where I had very (VERY) expensive vets bills to pay all of last year ( when living in a far more expensive property).

We are on our way now and this site helped a lot. I just need to fully understand the credit report now!

Thanks for your interest & advice - always appreciated

N&D

Edinburghlass_2

I work for an IFA and the only suggestion I would make for someone in your situation I'm afraid would be to visit CAB.

As you mention a pension why not make an appointment with an IFA who could advise on your pension and then you could spend some time asking for advise on other things? You should be able to find an IFA who would give you a free first appointment but when making an appointment say its for pension advise

Nickelsandimes

OOh Edinburgh lass - you cheeky smart woman! Wouldn't have thought of that!! ( Hmn.....;)

I do see the value of the CAb - I hope I haven't made it seem like I am above that ( in actual fact when I did try to see the CAB last year, I waited for 2 hours to be told to come back another day and I just didn't have that time nor approach to finances) anyway, I feel that the help they offer ( writing to creditors and helping you with that etc) would just slow things down and I want to make a bigger dent in the debt. Anything involving a debt plan would/could seriously impede future plans Stateside, so for us that was not an option, it was advice on where best to put our money first ( I knew the obvious like which debt is a priority and bills are not a problem, rather how to make a dent in what's left ( a store card/CC and a loan).

We have now made good progress and taken a step forward with a bank loan at a good rate which will restructure our current loan and also pay off the store card and enough chunk of the CC to bring it down to its "limit" thus cutting out the overlimit fee and with what we are saving on the original payment of the loan, can throw that at the credit card.

Very good advice though and thank you

N & D