Does anyone here use a financial advisor regularly?

[redrabbit29]

I'm changing jobs and very luckily I will be getting a very significant pay increase as I am moving from a public sector role into a private sector role. My pay will be a little over 6 figures, and I plan to salary sacrifice (if I am able to) as much as I can to get to the £40k cut off in pensions.

I've been doing tons of reading on investments, savings etc. I have got a couple of good things set up now - such as a 4% savings account for some money I have, plus a Nationwide Bond for a year, and a couple of other things.

I'm a bit overwhelmed with options like trackers, ISA Stocks and Shares, ETFs plus SIPP and many other things.

Has anyone used a financial advisor? Do they literally say "I recommend you open this account and put £300 a month in there"? I thought it may be worth using once or twice a year and a friend has recommended me someone she knows.

[tescorank]

Well I suppose some may be looking for a good commission, amazing that they are so god why not just invest their own money!

[okgo]

What do you want to achieve?

Probably two things I’d do more reading on based on what you’ve written, ISA’s and the 60% trap (though you’ll solve the latter with chucking £40k at a pension).

[bitchstewie]

redrabbit29 said:

I'm a bit overwhelmed with options like trackers, ISA Stocks and Shares, ETFs plus SIPP and many other things.

Those concepts are pretty simple I'd have thought the area where you may benefit from "advice" (I'm putting that word in quotes as it can have a specific meaning depending who you speak to in finance) is around tax and optimising how you use your nice new big salary (congratulations ).

First thought is you may be able to find someone who can help with that for a flat fee rather than someone who wants a percentage of everything you invest forever.

I don't use them but it might be worth looking at the Intelligent Money threads on here.

[Taita]

CHeck out reddit ukpersonalfinance flowchart and do some reading in there