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How to find a financial advisor

(6 Posts)
SexNamesRFab Fri 20-Nov-15 13:56:37

I am self-employed and need to sort out a pension and better life insurance. I've tried to do this on my own but am not getting anywhere. Who can help me? How will I know I can trust them? How much will they charge? Will I have to take a day off work - and therefore lose money - to see them? TIA

PirateSmile Fri 20-Nov-15 13:59:39

They are quite well regulated. we have an excellent FA who I trust. There are some who will try to sell you the latest scheme which sometimes turn out to be to good to be true.
Whereabouts in the UK are you?

dontcallmethatyoucunt Fri 20-Nov-15 20:35:41

Make sure they are inpendent and not tied. SJP are expensive and tied but ubiquitous.
DO NOT allow a tied in period (you may need to move the money). Pay no more than a fixed fee up front.
Do not agree to pay a % on all contributions. A one off fee is far better value in the long term.
Do not agree to an ongoing charge unless they are telling you what they are doing for it.
£700-1500 would be reasonable to set one up(although if you have any existing pension savings they could fund this, 2% of fund is average)

If this is the only money you have something like royal London governed range is as good as any.

dontcallmethatyoucunt Fri 20-Nov-15 20:37:57

If friends can't recommend, speak to 3, see who talks sense, ask what they charge and then pick the best.

CocktailQueen Fri 20-Nov-15 20:40:51

Personal recommendation every time!

They have to set out costs and fees upfront. They will do evening appointments.

dontcallmethatyoucunt Sat 21-Nov-15 16:31:10

They have to set out costs yes, but what some are very expensive. Check with a couple. Negotiate.

they will do evening appointments some will, some won't. I wouldn't let that be your main criteria. An hour or so out of your day wouldn't be wasted.

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