Finding an IFA

[gifdy]

Any tips on finding an IFA you can work with ? I need pretty general financial advice of which a large part will be pensions and retirement planning….but not all. I also need advice on tax issues and investments.

I’ve had a few online consultations but never really took to any of them. They were pretty much sales pitches for a particular product or business, no surprise I guess. To date, Ive done my own research and planning but need to accept I’m just no good at it, hence the plan to find an IFA.

I also tried ‘Unbiased’ but they take your basic requirements and ‘match’ to an advisor who will then call you. I’d rather have a list to choose from and understand their background. I also would want someone I can meet locally rather than do it online. I’m not saying online can’t be effective, it’s just a preference.

So, from a pretty much standing start, how do I proceed ?

[gifdy]

Yes, that’s what I’ve experienced so far. Always seems to be moving pensions into their fund.

[gifdy]

Thanks - it sounds like maybe I just need to keep at it myself. I was hoping for someone who could cover all the bases.

Main points :

- 4 work pensions ( 3 defined contributions, 1 small defined benefits ) but not all are performing that well. Should I consolidate or do they have benefits I could exploit in an early retirement ? Total pot is ~ £750K, is it enough for an early 'partial' retirement at 60 ?
- House is about to be paid off, how best to divert the monthly payment for investment ? I've got a Cash ISA but should I go for something with higher risk...or am I already overly exposed to markets with the Pensions ?
- Company share scheme. How & when to realise my shares/options ?
- Tax return. I end up paying additional tax every year even though I'm on PAYE.. I'm sure I'm missing some tricks.
- Company has an EV car scheme. Can I sell existing owned car & use this scheme to be more tax efficient ?

As you can see, a Pension advisor or tax consultant may not be able to address all these points.

[gifdy]

Caddyshack said:

gifdy said:

Thanks - it sounds like maybe I just need to keep at it myself. I was hoping for someone who could cover all the bases.

Main points :

- 4 work pensions ( 3 defined contributions, 1 small defined benefits ) but not all are performing that well. Should I consolidate or do they have benefits I could exploit in an early retirement ? Total pot is ~ £750K, is it enough for an early 'partial' retirement at 60 ?
- House is about to be paid off, how best to divert the monthly payment for investment ? I've got a Cash ISA but should I go for something with higher risk...or am I already overly exposed to markets with the Pensions ?
- Company share scheme. How & when to realise my shares/options ?
- Tax return. I end up paying additional tax every year even though I'm on PAYE.. I'm sure I'm missing some tricks.
- Company has an EV car scheme. Can I sell existing owned car & use this scheme to be more tax efficient ?

As you can see, a Pension advisor or tax consultant may not be able to address all these points.

Sounds like you might benefit from an ongoing relationship with an IFA as opposed to a one off IMO.

Yeah, that's what I was hoping for. My preference was someone local who I could meet regularly with.

[gifdy]

Caddyshack said:

Where in the country are you - roughly?

Hampshire

[gifdy]

Thanks everyone, lots of food for thought. Going through the process of writing down the issues and reading the responses has helped enormously. However, It sounds like finding the right person is going to be a nightmare, and could end up costing a lot. I think I’ll try to focus on the pension part and sort/decide that one first myself.

Thanks for the offers of referrals.I’ll follow up on those in parallel.