Best method to find a good respectable Finacial Advisor

Hi,

I need to sort out a private pension and don't really know where to start.

I guess the best method is to find an "all of market" FA - but how do I go about contacting a good one?

Any suggestions would be appreciated plus any advice on Pension products to look at - I am 42 if that make a difference, and No my company does not offer a pension (yet).

Cheers

Anstey

Reply to
The Anstey
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Never EVER use a FA - it'll cost you much more than if you invest blindly and make a complete f**k up of it yourself. FA's are thieves who will advise you to kill your mother if they get a kickback. Tro

Reply to
Tro Jan

So youve had a good experience with one? lol

Reply to
linkuk

Not very helpful reply though, is it?

Personal recommendation is nice, if you can find someone who's used any particular FA. Reading all you can, asking for what free initial guidance is available from FA's, banks, Building Societies etc is also useful as you can get at least some background to finance and make a judgement which is at leat partially informed.

Reply to
Noon

There is really only one option to think of these days (if your employer isn't pushing you towards anything), and that is a SIPP.

Yes, they can get compicated if you start putting classic cars and wine bottles into them, but you can keep them very simple and just put all the money into a balanced managed fund if you dont have a clue about investing.

The charges are so much lower than the traditional products.

A good general guide:

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Some (of many) sipps:

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Money Rule no. 1 Dont do anything that you dont understand 100%

Reply to
Miss L. Toe

No, but rather honest I thought.

Reply to
Virgils Ghost

Not helpful? I got ripped for over 75K-if my post can save the OP that mistake, then I'm sure he'll disagree with you too.

Tro

Reply to
Tro Jan

What happened ?

Reply to
Miss L. Toe

I don't quite get that, though I'm sorry you lost the money. Alternative advice seemed to me to be more useful

My advice (limited though it was) was to learn as much about finance as you reasonably can so that you understand what's being suggested by any advisor you may consult. Some may disagree, but it still seems reasonable to me.

Reply to
Noon

That was the FA's commission for recommending a locked in (regular payment) pension. I'm still paying the pension company the 75K back, and will do until I'm 65.

Reply to
Tro Jan

I was sorting through some of my pension documents yesterday and came across one that said the FA got 2,500 GBP for setting up the pension. I paid in 6k total (then switched jobs) Not bad for one half hour meeting !

They are also getting 12GBP per month for as long as the pension continues. Not bad for forwarding one statement every year.

Reply to
Miss L. Toe

You get your statements? I have to ask the insurance company for mine!

Reply to
Tro Jan

most turn up - the one with the 10% GAR at 60 I have to beg for :-)

Reply to
Miss L. Toe

Or go to an advisor for advice and to a salesman when you want to buy something. Neither ask a salesman for advise nor buy anything from an advisor.

Reply to
Graham Murray

That's very good advice!

Reply to
Tro Jan

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