How to choose (/ recommend me) an IFA?
Discussion
Chaps,
Mrs zcacogp and I have had a passing relationship with Towry Law over the last 15-odd years. They have recommended things for us to do and investments to make, and the advice has been free. They have made their fee from the providers of the products.
Now, it seems, there are changes afoot and they no longer do anything for free (why am I not surprised
?) They are, however, recommending that we should use their "Wealth Management Scheme", for which they have a set of charges and some promises that they are good and safe people and very independent, the best in the market and so on and so forth.
It all sounds very plausible and I am tempted (as is Mrs zcacogp), but I am aware that we would be foolish to simply go with the first company offering services - as a point of due diligence we should at least talk to other people offering similar services as well, to ensure that we are making the right decision. (In a sense, we need independent advice on choosing an independent advisor ... ) I have very little knowledge of financial products, and quite a lot of what is talked about needs to be explained to me in fairly elementary terms.
So ... the question. Who does anyone recommend as an IFA, and what criteria should I use when selecting one? What questions should I be asking, what should I be looking for, what are good and bad things to be told?
All help welcomed *! Thanks.
Oli.
Mrs zcacogp and I have had a passing relationship with Towry Law over the last 15-odd years. They have recommended things for us to do and investments to make, and the advice has been free. They have made their fee from the providers of the products.
Now, it seems, there are changes afoot and they no longer do anything for free (why am I not surprised
?) They are, however, recommending that we should use their "Wealth Management Scheme", for which they have a set of charges and some promises that they are good and safe people and very independent, the best in the market and so on and so forth. It all sounds very plausible and I am tempted (as is Mrs zcacogp), but I am aware that we would be foolish to simply go with the first company offering services - as a point of due diligence we should at least talk to other people offering similar services as well, to ensure that we are making the right decision. (In a sense, we need independent advice on choosing an independent advisor ... ) I have very little knowledge of financial products, and quite a lot of what is talked about needs to be explained to me in fairly elementary terms.
So ... the question. Who does anyone recommend as an IFA, and what criteria should I use when selecting one? What questions should I be asking, what should I be looking for, what are good and bad things to be told?
All help welcomed *! Thanks.
Oli.
* - Comments such as "Worst 'I've got lots of money thread ever'" are not welcomed - thanks!
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