Financial Advisors

LongTermLurker

Damn Jem16 - you beat me :beer:

esbo

Aegis wrote: »

You referred to "independent" financial advice, and never stopped talking about that.

In any case, a good financial adviser is independent. Why would anyone want to limit their selection by going to anyone who isn't whole-of-market when the independent adviser is usually cheaper?

I used the term independent in the sense of the advice being free from the influence of others, not in the sense of some job title dreamt up by a so called regulator.

What I mean by independant advice is someone who will give you their honest opinon of what is best for you, your use of the term independant seems to be somewhat at odds with mine. Yours appears to be some jargonised industry manipulation of the word, I am talking about the true sense of the word.

esbo

jem16 wrote: »

Not according to this post;

See initially asked for a finiancal advisor, someone suggested an IFA, she inquired
how she could find out about them but that does not mean she would restrict her choice
just to IFA's

Aegis

esbo wrote: »

See initially asked for a finiancal advisor, someone suggested an IFA, she inquired
how she could find out about them but that does not mean she would restrict her choice
just to IFA's

"Restricting" your choice to IFAs is like "restricting" yourself to buying a product from anywhere rather than one specific shop. There simply isn't a provider that can offer less restrictive advice than an IFA!


Your complaints about this profession seem to be entirely irrational. What exactly is your issue that makes you want to disparage an entire professional body without actually offering a satisfactory replacement for them?

esbo

LongTermLurker wrote: »

Esbo said: MigsyBigsy appears to be looking for a good finiancial advisor, rather
than an IFA.

erm...

Her initial posted refered to a finiancal advisor, presumably a good one, rather someone who works as an IFA which is a job title.

dunstonh

Current FSA proposals (due to be finalised in October to start next year) will see IFAs as the only type of adviser (for packaged products). There will be no such thing as financial adviser or independent financial adviser any more. It was be IFA or sales rep.

So, you may as well work with that mindset now as its only making plain what everyone knows already.... well, almost everyone!

jem16

esbo wrote: »

See initially asked for a finiancal advisor, someone suggested an IFA, she inquired
how she could find out about them but that does not mean she would restrict her choice
just to IFA's

He/She would be extremely daft to go to anyone other than an IFA if he/she wanted proper financial advice.

What is your personal experience of IFAs that you base all your posts on?

jem16

LongTermLurker wrote: »

Damn Jem16 - you beat me :beer:

Fastest finger first.......;)

esbo

jem16 wrote: »

She would be extremely daft to go to anyone other than an IFA if she wanted proper financial advice.

What is your personal experience of IFAs that you base all your posts on?

I don't need financial advice, I am more than capable of making my own financial
decisions, from what I have seen of some who calim to be IFA's here I can't
say I am very impressed, rather quite the opposite. Futhermore the very title
IFA is misleading, they are not independant if they are receiving a commission on the
products they that sell, so they fall at the first fence in that respect.

jem16

esbo wrote: »

Futhermore the very title
IFA is misleading, they are not independant if they are receiving a commission on the products they that sell, so they fall at the first fence in that respect.

So where else should people go as you seem to have all the answers despite no personal experience?