Basic Chat with an IFA

6022tivo
6022tivo Posts: 781 Forumite
Name Dropper First Anniversary Combo Breaker First Post
in Savings & investments
Like this is impossible...

I have money scattered around in places I think are best, I have schemes ongoing.
I use salary sacrifice to stick 70% ish into my pension. I pay no tax.

I just want to sit with an IFA for an hour over a coffee in a cafe and go thought my stuff and thought process without ongoing commitment, pressure to sign up to managed funds or anything like that.

Happy to pay? £100 + vat?? Fair?

So... I have contacted two local IFA with what I want. One hasn't replied, the other has said the same spiel as their website (Copy and paste).

Basically, the first visit is free when you fill out a form and hand over your life on paper, then the second visit is a chargeable visit with funds and services offered they think are good for me with fees listed etc, and annual reviews (No commitment though)....

Like is it really not too much to ask, to have a natter and a charge, then nothing else?



I have also 2 premium bank accounts, and had an appointment set with one, the chap called me up the night before and I said what I wanted from the visit, and he basically said, its a fixed risk/service review and if I'm not thinking of investing, there is no point of the meeting, and he cancelled it...


Am I really asking too much?
«134567

Comments

  • SavingisFun
    SavingisFun Posts: 43 Forumite
    Where are you based?
  • 6022tivo
    6022tivo Posts: 781 Forumite
    Name Dropper First Anniversary Combo Breaker First Post
    SavingisFun wrote: »
    Where are you based?
    Wirral/Liverpool
  • SavingisFun
    SavingisFun Posts: 43 Forumite
    6022tivo wrote: »
    Wirral/Liverpool

    OK, I have inboxed you
  • SonOf
    SonOf Posts: 2,631 Forumite
    First Anniversary First Post
    Happy to pay? £100 + vat?? Fair?

    It will have to be vatable as there is no intention to purchase.
    However, if you are after advice, then the advice process has to be followed. if you are after guidance then it doesn't but then guidance cannot point you to a solution. It has to be more wishy washy.
    Like is it really not too much to ask, to have a natter and a charge, then nothing else?

    Post RDR and MiFIDII, yes, it is a bit much to ask. Its not really affordable to run advice on that sort of basis for most firms nowadays. you will probably find someone eventually but expect a good number not being interested.
  • bostonerimus
    bostonerimus Posts: 5,617 Forumite
    First Anniversary Name Dropper First Post
    Why not make yourself a coffee and ask all your questions here. You'll get a range of answers and crowdsourcing can often produce an optimal solution.
    “So we beat on, boats against the current, borne back ceaselessly into the past.”
  • Alistair31
    Alistair31 Posts: 945 Forumite
    First Anniversary First Post Name Dropper
    bostonerimus wrote: »
    Why not make yourself a coffee and ask all your questions here. You'll get a range of answers and crowdsourcing can often produce an optimal solution.

    Was going to post similar.
  • Brilley
    Brilley Posts: 224 Forumite
    First Anniversary First Post
    £100 for an IFA?....unlikely, you probably get what you pay for.

    As above, if you are only prepared to spend £100 I would post as much info as you can on here and then ask some specific questions you want answering and see what sort of replies you get.

    Most IFA's would need to see all your facts and figures first and get an understanding of what you are hoping to achieve and assess your risk expectations before meeting. ie they may need to do a few hrs work before you meet, then possibly a couple of hours or more to discuss. So probably a good half days or more work to do the job properly?
  • 6022tivo
    6022tivo Posts: 781 Forumite
    Name Dropper First Anniversary Combo Breaker First Post
    Brilley wrote: »
    £100 for an IFA?....unlikely, you probably get what you pay for.

    No idea of rates. I work in a city and it would have been a no prep coffee over a lunch break.
    I made up the £120 figure and thought it was reasonable for a coffee chat with no research before and after required.
  • 6022tivo
    6022tivo Posts: 781 Forumite
    Name Dropper First Anniversary Combo Breaker First Post
    Brilley wrote: »
    Most IFA's would need to see all your facts and figures first and get an understanding of what you are hoping to achieve and assess your risk expectations before meeting. ie they may need to do a few hrs work before you meet, then possibly a couple of hours or more to discuss. So probably a good half days or more work to do the job properly?

    I don't want a proper job, I'm happy with where my things are. It was more a confirming process, especially over my pension funding and making sure I'm doing it the most efficient way.
  • 6022tivo
    6022tivo Posts: 781 Forumite
    Name Dropper First Anniversary Combo Breaker First Post
    bostonerimus wrote: »
    Why not make yourself a coffee and ask all your questions here. You'll get a range of answers and crowdsourcing can often produce an optimal solution.

    I have tried it once before a while back, possibly under a different username, it became quite hard work as either non belief at my finances and how I have them, or conflict over my end game as it's not particularly ambitious.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.1K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.7K Spending & Discounts
  • 235.2K Work, Benefits & Business
  • 607.9K Mortgages, Homes & Bills
  • 173K Life & Family
  • 247.8K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards