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independent financial advisors

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By *ssex_tom OP   Man
over a year ago

Chelmsford

Do they exist ?

Of after a deal that best suits them ,,?

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By *rwhowhatwherewhyMan
over a year ago

Aylesbury

Independent from what?

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By *hechapMan
over a year ago

Derry


"Do they exist ?

Of after a deal that best suits them ,,?"

They exist but its their own nest they are feathering 1st.

Just like solicitors. They will tell you what you want to hear and charge you plenty for doing it.

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By *acey_RedWoman
over a year ago

Liverpool

All I know is my mum says one got her out of a mess after her and my dad split up.

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By *untimes6969Man
over a year ago

Newcastle upon Tyne

They are all fee based these days, so no bias on products or providers! Check out their fees plus the standard of advice - that's the key!

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By *ebjonnsonMan
over a year ago

Maldon

Always remember - they are really just sales people. Insurance sellers in the main.

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By (user no longer on site)
over a year ago

They are legally required to be qualified, just as solicitors, accountants are. They will usually give you an hour FOC to assess if they can help you, and then should give you an exact charge for their subsequent services.

They no longer take a commission on products recommended.

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By *dam_TinaCouple
over a year ago

Hampshire


"Always remember - they are really just sales people. Insurance sellers in the main."

No they're not because as a couple of people have already pointed out they cannot make commission on the products they recommend, they can only charge fees to their clients.

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By (user no longer on site)
over a year ago


"Always remember - they are really just sales people. Insurance sellers in the main.

No they're not because as a couple of people have already pointed out they cannot make commission on the products they recommend, they can only charge fees to their clients."

Whilst what you have said is true, my opinion is that many are not truly independent. Many advisers are pressured by management to sell their own investment products which have their own (percentage based) fees. I feel that this is just commission in disguise.

I used to work at a relatively well known company as a data analyst. Some of the stuff going on behind the scenes was disgusting, but not technically illegal.

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By *adame 2SwordsWoman
over a year ago

Victoria, London

Only in it for them. Only contact you when you cancel one of their products that they get a commission from

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By *hoenixAdAstraWoman
over a year ago

Hiding in the shadows

One of my best friends husbands is one

Thanks to him, my kids future will be better than OK.

But I suppose like all jobs, you'll get good & bad.

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By (user no longer on site)
over a year ago

Independent advice is a myth.....

Motivation and money innit.....

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By *hechapMan
over a year ago

Derry


"They are legally required to be qualified, just as solicitors, accountants are. They will usually give you an hour FOC to assess if they can help you, and then should give you an exact charge for their subsequent services.

They no longer take a commission on products recommended."

Thats like saying solicitors dont take back handers from an insurance company.

They do it but they dont tell the client i adviced you to take that offer becauae your insurance company is sending me a cheque in a brown envelope for £1K.

If it wasnt for me been corrupt and dishonest you would be getting alot more money for your claim but i want my hand in both pies...

It happens all the time and the solicitors coherse the client into settling the claim early meaning the solicitor has less work to do but takes two pay cheques.

Its rather low and no better than been a compulsive thief

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By (user no longer on site)
over a year ago

Why are some of you so keen to assume that everyone in a particular group is breaking the law or at least bending it.

I have personal knowledge of IFAs who do an excellent analytical job and have then proffered advice which is sound and very much to their clients advantage.

What you say may be true in the past or for a small proportion of IFAs, but they get huge attention from the regulator who can remove their license to practice.

How can you seriously believe that all members of a profession are tainted just because they charge for their advice?

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By *ait88Man
over a year ago

Plymouth

Get advice from at least two, and preferably three, independent people.

Their "professional" qualification is far, far easier to acquire than those of solicitors and accountants.

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By *ill74Man
over a year ago

New forest area


"They are legally required to be qualified, just as solicitors, accountants are. They will usually give you an hour FOC to assess if they can help you, and then should give you an exact charge for their subsequent services.

They no longer take a commission on products recommended."

I agree with all of the above. But the one I went to see, mentuoned she was being taken out to dinner by 1 company. Hey presto a few weeks later, she recommended their product. I walked away.

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