Financial Advisor needed

[aero93]

Hello all,

For some time me and my wife have spoken about contacting a financial advisor and it hasn't happened for one reason or another. But now we have had a change of circumstance and would really benefit from one but have no idea where to start and do not know anyone who can recommend one.

Please could anyone recommend?

Thanks

John

[Somebody]

Not a recommendation but recently received emails about ad-hoc advice:

https://www.hl.co.uk/financial-advice/speak-to-an-...

Maybe start there?

[Carbon Sasquatch]

Are you looking for one-off advice or some kind of ongoing relationship ?

I've always gone with the former - and selected specific advisors for the circumstances at the time. Other people prefer to pay x% per year on an ongoing basis for someone to manage their funds as well as providing ongoing advice.

One-off advice can appear more expensive - but unless you need it, something ongoing is likely to cost more.

[chip*]

Decent advisors are a rare breed based in my experience, but there are some very good advisors out there (I use one myself). The availablity of advisors can also be restricted decoding on your own personal circumstances as some advisor target certain demographic of investors.

Without knowing your personal circumstances or requirements, worth considering Vanguard who provide regulated advice / financial planning starting with an all in fee of 0.79%.

https://www.vanguardinvestor.co.uk/financial-advic...

[bitchstewie]

Roughly what sort of amount of money are we talking?

I ask as there's something called the "advice gap" where you might have a life changing (to you) amount but many financial advisors just won't be interested as there isn't enough in it for them to make you viable as a client.

[dalenorth]

This depends really as to which of the following you require?

Mortgages
Investments and pensions
Life cover and income cover

[Red9zero]

My wife is an IFA specialising in pensions and investments. She charges £1900 for advice. Luckily I get a discount.

[Mr Pointy]

bhstewie said:

Roughly what sort of amount of money are we talking?

I ask as there's something called the "advice gap" where you might have a life changing (to you) amount but many financial advisors just won't be interested as there isn't enough in it for them to make you viable as a client.

Surely that only applies to the nonsense arrangement where the IFA creams off a fixed percentage of your investment every year, no matter how badly it performs? If the OP only engages on a fixed fee for advice basis then advice should become available, even if the size of the fund isn't in the high six figures.

[Derek Chevalier]

Mr Pointy said:

Surely that only applies to the nonsense arrangement where the IFA creams off a fixed percentage of your investment every year, no matter how badly it performs?

Not defending that charging model, but I don't often hear the same criticism levelled at star fund managers/stock pickers, some of whom are trailing the market by ~20% YTD and charging multiples of index trackers.

[Derek Chevalier]

Red9zero said:

My wife is an IFA specialising in pensions and investments. She charges £1900 for advice. Luckily I get a discount.

Specliams surely centre around the person rather than the product?

So for example, an adviser may work in helping people transition to retirement and if a young footballer came to him, he would probably refer him to someone else.

[bitchstewie]

Mr Pointy said:

Surely that only applies to the nonsense arrangement where the IFA creams off a fixed percentage of your investment every year, no matter how badly it performs? If the OP only engages on a fixed fee for advice basis then advice should become available, even if the size of the fund isn't in the high six figures.

Perhaps but then you're into whether that's good value and fixed fee might be great or not so great I guess..

[Red9zero]

Derek Chevalier said:

Red9zero said:

My wife is an IFA specialising in pensions and investments. She charges £1900 for advice. Luckily I get a discount.

Specliams surely centre around the person rather than the product?

So for example, an adviser may work in helping people transition to retirement and if a young footballer came to him, he would probably refer him to someone else.

No idea. She has probably told me, but the whole subject bores me to tears

[chip*]

Derek Chevalier said:

Mr Pointy said:

Surely that only applies to the nonsense arrangement where the IFA creams off a fixed percentage of your investment every year, no matter how badly it performs?

Not defending that charging model, but I don't often hear the same criticism levelled at star fund managers/stock pickers, some of whom are trailing the market by ~20% YTD and charging multiples of index trackers.

+1
Irrespective of fund performance, (especially in a tech fund / material Netflix holding!), these active fund manager are STILL deducting their juicy 1%fees from your account on a DAILY basis!! 🤔😲