Wanted: Financial Advisor

[d000hg]

Following the introduction of the RDR, IFAs are no longer able to accept commission payments for products sold and so the above statement no longer is valid.

Which means now you have to pay your IFA, as that's the only way they make money. I suppose it should increase impartiality but is a shame - or would the consumer now get all the commission/bonus money previously paid to the IFA? If not, the providers are saving a few hundred quid every time which the consumer is ultimately paying for.

[saptastic]

Hiya there folks.

I've been contracting for a while now, and it's time to sit down and try and make sense of my accounts etc.
I've got an accountant who does annual returns etc - i'm looking for someone to discuss things like mortages and investing company money with.

Any suggestions for good starting points?

Thanks in advance.

Contractor UK Money Club :: Financial Advice for Contractors :: Contractor UK

[kaiser78]

In my experience financial advisers are a waste of time and do not have your interests at heart. Obviously some people will disagree but thats my view. They will often persuade you to take a product which pays them commission rather then the product which has the best risk reward payoff

My advice is to park your money in an ETF (which coincidentally does not pay the FA any commission) - There are plenty of ETF's available - Try Ishares for a start. A FTSE 100 and S&P 500 is a good place to leave the majority of your money unless you plan to use it within the next few years

Following the introduction of the RDR, IFAs are no longer able to accept commission payments for products sold and so the above statement no longer is valid.

[xoggoth]

I use Julian Howes. Years ago he gave me some good advice on choosing a pension scheme and also some other stuff that he never charged for. Invested some dosh recently. Very honest.

Julian Howes Wealth Management Ltd - Julian Howes - Director

[Jack Kada]

Hiya there folks.

I've been contracting for a while now, and it's time to sit down and try and make sense of my accounts etc.
I've got an accountant who does annual returns etc - i'm looking for someone to discuss things like mortages and investing company money with.

Any suggestions for good starting points?

Thanks in advance.

In my experience financial advisers are a waste of time and do not have your interests at heart. Obviously some people will disagree but thats my view. They will often persuade you to take a product which pays them commission rather then the product which has the best risk reward payoff

My advice is to park your money in an ETF (which coincidentally does not pay the FA any commission) - There are plenty of ETF's available - Try Ishares for a start. A FTSE 100 and S&P 500 is a good place to leave the majority of your money unless you plan to use it within the next few years

[kaiser78]

I've just switched to new IFA to get my finances in order. Not exactly cheap but once everything has been brought to where it should be I can the take over some of this and use him just for the advice.

[cojak]

Try Bruce Nash at Wealth Matters.

His look of diplomatic but barely hidden disgust at the mention of EBTs was a pleasure to behold.

[Lostdreamer]

Hiya there folks.

I've been contracting for a while now, and it's time to sit down and try and make sense of my accounts etc.
I've got an accountant who does annual returns etc - i'm looking for someone to discuss things like mortages and investing company money with.

Any suggestions for good starting points?

Thanks in advance.