Looking for decent IFA in Edinburgh - any recommendations?
Discussion
Hi to the PH Financial Gurus 
I'm asking the question on behalf of my Dad,who, after some bad customer service from his current investment provider, is looking for a trustworthy FA to advise him.
His investment is currently in a medium risk ISA fund and I'm not sure how much is invested; apologies if the details seem vague but his question came via text this evening.
As mentioned in the thread title it would be someone in the Edinburgh area so any suggestions will be greatly appreciated.
Thanks all.
I'm asking the question on behalf of my Dad,who, after some bad customer service from his current investment provider, is looking for a trustworthy FA to advise him.
His investment is currently in a medium risk ISA fund and I'm not sure how much is invested; apologies if the details seem vague but his question came via text this evening.
As mentioned in the thread title it would be someone in the Edinburgh area so any suggestions will be greatly appreciated.
Thanks all.
I am not trying to knock here, just to inform:
Charles Stanley are going to be very expensive for an ISA.
Equally, Alan Steel Asset Management is not actually an Asset Management company whatsoever (it has none of the required FCA permissions to do this) but is simply a financial adviser.
They don't like low cost trackers and go with active fund managers too. So your Dad will have the advice costs, platform costs and active fund management costs, which seriously stack up.
What is the nature of the advice he is seeking?
He may be better off using Vanguard and the like to keep the charges down.
Charles Stanley are going to be very expensive for an ISA.
Equally, Alan Steel Asset Management is not actually an Asset Management company whatsoever (it has none of the required FCA permissions to do this) but is simply a financial adviser.
They don't like low cost trackers and go with active fund managers too. So your Dad will have the advice costs, platform costs and active fund management costs, which seriously stack up.
What is the nature of the advice he is seeking?
He may be better off using Vanguard and the like to keep the charges down.
Sorry for the delay in replying chaps.
Julian, Matt - I did consider mentioning IM (and Nik) to him but wasn't sure if it would be overkill, he doesn't quite meet the PH standard of PBCD. It does seem as though there would be nothing to lose from at least having a discussion, I'll pass on the details to him if that's okay?
DocJock - thank you for another recommendation, I'll add it to the list
Julian, Matt - I did consider mentioning IM (and Nik) to him but wasn't sure if it would be overkill, he doesn't quite meet the PH standard of PBCD. It does seem as though there would be nothing to lose from at least having a discussion, I'll pass on the details to him if that's okay?
DocJock - thank you for another recommendation, I'll add it to the list
Mattt said:
Or get him to have a free chat with Nik at IM... if he doesn’t get the answers then he can continue to look for an IFA.
Cheque in the post as usual please Julian!
Thanks for the recommendation Mattt, your don't want a brown envelope at a service station this time then?!!! Cheque in the post as usual please Julian!
Nik actually is an advance qualified IFA with years of experience, he just doesn't work in that capacity any more but instead runs our Private Client team.
So he is usually able to help most people come to their own informed decisions. If not, then he will point them in the direction of an IFA and at least you then know you are paying for something you need, rather than paying for something you don't need.
csd19 said:
Sorry for the delay in replying chaps.
Julian, Matt - I did consider mentioning IM (and Nik) to him but wasn't sure if it would be overkill, he doesn't quite meet the PH standard of PBCD. It does seem as though there would be nothing to lose from at least having a discussion, I'll pass on the details to him if that's okay?
DocJock - thank you for another recommendation, I'll add it to the list
Not overkill in the slightest, whilst we have more than our fair share of PBCDs our clients are, in the main, relatively normal people! Julian, Matt - I did consider mentioning IM (and Nik) to him but wasn't sure if it would be overkill, he doesn't quite meet the PH standard of PBCD. It does seem as though there would be nothing to lose from at least having a discussion, I'll pass on the details to him if that's okay?
DocJock - thank you for another recommendation, I'll add it to the list
Private Clients (with the PH additional benefits) actually started out as a friends and family service for all of our team members from the bottom up, to ensure everyone in the company (and their family and friends) had access to qualified and experienced financial planning and low cost no minimum investment management.
All I have done is extended this to include PHers. Please feel free to pass on Nik's email address and they can have a chat (or meet up if your Dad prefers) to go over everything.
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