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How do I choose an IFA? Do I need one?

(6 Posts)
sagitta Thu 28-Aug-08 13:27:14

I need to get a pension sorted out, and want a stakeholder one. I went to moneysupermarket, filled out a form, and an IFA has contacted me. Do I trust him? Do I need an IFA? I am pretty clueless about pensions, and don't seem to be able to work out what is a good one and what is a bad one...any advice?

sagitta Thu 28-Aug-08 16:20:28


hopefully Thu 28-Aug-08 16:32:23

have you tried you can search for IFAs in your area.

Did the IFA who contacted you tell you what experience and qualifications he had?

Incidentally, the whole idea of a stakeholder was meant to be that you could take one out with minimal/no advice, but I can't remember the specifics. I think there are decision trees and things. Have you googled for more information about stakeholders? I'm sure someone who knows better will tell you more though.

sagitta Fri 29-Aug-08 14:11:04

Thanks for that. Its a really good site - although for anyone else reading this, its

I would prefer not to use an IFA, but I really don't know which bank to go with...


hopefully Fri 29-Aug-08 16:34:43

Whoops, sorry, forgot it was! Hope you manage to find one who can help you.

mumthatworks Thu 04-Sep-08 15:28:17

Hi I have worked in the finance industry for years and years dealing with complaints about both IFAs and banks. I would suggest that you definitely DO NOT go to a bank as they tend to have limited products and generally offer the more expensive deals. Go to and IFA but get a local one through your FSA register. If you go on the FOS or FSA website there should be a link somewhere there to find a local IFA that is registered with the Financial Services Authority & therefore covered by all their IFA can offer you the most variety of products and ultimately the best choice.

Good luck


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