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How to dump your IFA?

(5 Posts)
pamplemousse Thu 24-Jul-08 22:25:25

Just wondering if you just leave and go to another or whether you phone and tell them or what?!
He organised our mortgage, ISAa (which we are cashing in) and insurances, so obviously gets comission (SP) for these, will he demand money or anything.
Haven't a clue about all this grown up stuff, please advise!

Portofino Thu 24-Jul-08 22:35:11

Surely these people just offer a service and get a commission for the products that they have sold. You have no other contractual link to them.

pamplemousse Thu 24-Jul-08 22:56:57

Thats what I'm hoping. Just wondered if there was a ifa approved dumping method?!

hopefully Fri 25-Jul-08 09:24:54

As far as I know, you only need to tell him if he has any paperwork that you need. He'll probably contact you on something like an annual basis to offer you a review of your needs, which you can ignore.

Saying that, to be polite it might be nice to drop him a letter or an email saying you won't need him any more, so he doesn't waste time reviewing your finances before contacting you, which he may get cross about (and you may have signed something saying he can charge you for?)

pamplemousse Fri 25-Jul-08 20:57:06

Great I'll check if I signed anything and send him a letter, thanks hopefully

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