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Reply to: IFA
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Previously on "IFA"
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There appears to be an interesting bug in the forum software. If I edit my previous post, the word "anyone" at the end of the first line is not repeated in the edit box, i.e. it is the forum software that is duplicating it.
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Before committing to paying anyone, read some books until you understand why many believe that paying anyone (an IFA, fund manager, whoever) to pick shares/funds for you can only reduce your expected return from investing.
"A Random Walk Down Wall Street" by Malkiel is the classic in this regard.
Almost every academic economist will agree with this view, and almost every advisor or fund manager will disagree. The reason fund managers and advisors disagree with the economists is because "It is difficult to get a man to understand something, when his salary depends upon his not understanding it!"Last edited by IR35 Avoider; 20 July 2010, 15:03.
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Just ensure that whoever you choose, that they are truly 'independent' and not 'tied'.
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IFA's all specialise in different things. Best to pick a few local ones and go with the one that feels right for you. Speak to friends for local recommendations
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To be honest, I think you should do you own research rather than use an IFA. I believe IFA's have too many agendas to be truly looking after your cash in your best interest. There's lots of info out there and it isn't that hard to suss out which managers have the track record over the long term. Although, as they say "the past is not necessarily a guide to the future". But, it is pretty much all we have to go on, including the IFA's too. I have my investments through Hargreaves Lansdown and I'm very happy with them. Alliance Trust also run excellent low cost schemes too.
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Originally posted by norrahe View PostHas anyone got a recommendation of one they have used?
The one my accountant recommended is completely useless.
Need advice on investments.
I use these guys. Highly recommended and they will not fleece you at all.
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