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  • FIRST POST
    • MSE Archna
    • By MSE Archna 20th Oct 06, 10:54 AM
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    MSE Archna
    Do You Need Financial Advice? When To Get It, When Not To Get It Discussion Area
    • #1
    • 20th Oct 06, 10:54 AM
    Do You Need Financial Advice? When To Get It, When Not To Get It Discussion Area 20th Oct 06 at 10:54 AM

    This thread is specifically to discuss the content of the

    Do You Need Financial Advice? When To Get It, When Not To Get It Article

    To discuss or ask a question about the article: click reply
    Report inappropriate posts: forumteam@moneysavingexpert.com




Page 14
    • Malthusian
    • By Malthusian 12th Feb 19, 8:56 AM
    • 5,600 Posts
    • 9,271 Thanks
    Malthusian
    Where should she be looking for advice in relation to her situation, and in particular taxation (for instance will her ISAs lose their “tax free” status once she moves?
    Originally posted by KittaKatta
    She may want to try a forum for UK-Swiss expats or ask some friends in Switzerland for a recommendation. Be cautious however as there are a lot of sharks in the expat market, even in a country like Switzerland which you'd assume would have a high standard of regulation.

    They will still be ISAs but that will have no meaning within the Swiss tax system; they will be taxed the same as any other offshore investment.

    Is it preferable for her to keep the house in the UK and rent it out, or would it be preferable to sell it)?
    If she had a few hundred grand in cash right now would she invest it all in a single buy-to-let property in a foreign country? And why the UK in particular? Because ignoring capital gains tax and similar issues, it's the same decision from an asset allocation perspective.

    In addition to the usual risks and hassles of asset-specific risk, voids, bad tenants, maintenance, etc, she will also have the issue of either running the property or finding a decent letting agent from 500+ miles away, and staying up to date with taxation and legislation issues in a foreign country.

    This assumes she won't want to ever return to the property or use it as a pied-a-terre. And the other benefit of keeping the house is that with a UK residential address she can open new accounts in the UK and keep her money within the UK regulatory system if she prefers (a limited number of providers will potentially accept business from Swiss residents if they have a UK address).
    • jos5000
    • By jos5000 28th Feb 19, 9:49 AM
    • 2 Posts
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    jos5000
    Horrible experience using Unbiased.co.uk's 'Free' pension advice service
    I used the supposedly Free Unbiased.co.uk's 30min financial health/pension/mortgage/investment check for pension advice (advertised on MSE) and had a horrible experience with this and do not recommend it or at least be extremely wary of it.

    The IFA who contacted me immediately tried to push an array of non-pension related products. Within less than 10 minutes he became confrontational and told me I sounded like someone who was happy to do their finances 'DIY' so I should not call an adviser expecting free advice, that i was basically taking advantage and that we should end the conversation. The call lasted 10 minutes. What's more the advice he promised to give if i chose to pay 5000 for his service was really basic stuff like getting insurance for my limited company. I have been freelance for 2 years now and cannot sign contracts without various insurances, this is such basic stuff.

    I wrote an immediate latter of complaint to unbiased about this - total waste of time and was insulted.
    • dunstonh
    • By dunstonh 28th Feb 19, 10:10 AM
    • 97,951 Posts
    • 66,114 Thanks
    dunstonh
    I used the supposedly Free Unbiased.co.uk's 30min financial health/pension/mortgage/investment check for pension advice (advertised on MSE) and had a horrible experience with this and do not recommend it or at least be extremely wary of it.
    Unbiased is no longer a directory of IFAs. It changed to a lead generation site and allowed FAs to be included. Not just IFAs. They also put their charges to adviser firms up. Since then, all the IFAs I know stopped using unbiased and only appear on the "free listings" now. The salesforces (regional and national) seem to have more prominent positions on it now.

    The initial free consultation would not see you get any advice usually. It is there as a get together to discuss what you are looking for and to see if the adviser and yourself get on and if there is a reason to take it further.

    A 10 minute phone call would barely have a chance to cover anything.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
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