to think that any financial product that is being actively sold must be counterproductive for me?

[mackereltaitai]

Not just financial products really, anything at all.

However, the products that have been actively presented to me as desirable in the last 15 years (some by independent financial advisors, some not); private pension (for person likely to work within the NHS at some point), pension mortgage , self-certified mortgage, bank loan, credit card, cash fund for the CTF.

Things I have sought out on my own account; ISA, building society account, repayment mortgage on a floating rate, share fund for the CTF.

If I'd taken up any all of the things they had tried to sell me, I'd be in absolute crapola city, compared to how I am at the moment.

Does financial 'advice' ever work?

[fluffles]

well, my IFA gets a cut of my stocks and shares isa so it's in her interests to keep it earning as much as possible.
i don't have time (or inclination) to monitor all the funds but she does and moves the money around to stay profitable and spread the risk.

my credit card is very handy and i pay it off every month so no crapola city here..

so yes, i think it can work.

[plupervert]

Well, if you are going to take advice, do ensure your adviser is whole-of-market and not-tied, and paid for his/her time so s/he isn't dependent on commission.

I don't know what else to suggest, really. I have the same dilemma, and the above is as far as I have got so far.

Which? or Moneybox might have some more advice...

[eddiemccready]

You should hear my father's conversation when anyone calls to offer him this or that in the way of any of those products. Hilarious. 'So you are going out of your way to save me money, pull the other one'. The person selling generally walks away brow beaten.

[mackereltaitai]

Totally eddie, although I say it in my head - when I have to talk to telephone banking and they have to tell me that I really should have a contents insurance quote (which they can't just give me, I have to go into a branch), a bank loan, a credit card or a fee-paying account every time I ring... I just think 'why would you have my interests at heart, you're on commission and you're hardly going to sell me something that is cheaper than what I have at the moment, are you?'

Glad it works for you fluffles. What does a credit card give you that a debit card doesn't? Actually, don't answer that, i do know - consumer protection. Pointless for me though, as my record will show I am not the type to pay off in full every month, ergo having a cc is not a good idea for me. But there you go, they flog it to me anyway.

[fluffles]

credit cards:

consumer protection. can use it to guarantee things like car rental abroad. could use it for emergency medical or travel costs abroad then get reimbursed from insurance. and, best of all, if it gets lost or stolen they'll courier me a new one in 48hrs (unlike the bank who insist on posting it to my home address even if i'm not there).

[Niceguy2]

Financial advice can work if you are savvy. I will generally pick their brains and then verify their best "deals" online. If their product is better then I'll go with them. If not, i go elsewhere. Simples.

[mackereltaitai]

I don't go abroad, I can't afford it!

Niceguy, all very well if you are talking about comparing two similar products, but what about the value of the product itself?