How to find a good ISA?

[CuriousRunner]

Like many professions and trades, it's hard to know a good one from a bad one. When I was younger I had a garage convince me that I needed a new petrol tank. The garage later appeared on TV Scammers or similar. 🤣

Anyway, you get my point. How do I find a good ISA? Registration and other stuff might show they are above board but doesn't mean they are any good.

And does geography/location come into play?

Thanks!

Bollox!! I mean IFA.

Independent Financial Adviser!!

Most things you can do yourself very easily. What in particular are you looking to achieve?

I would avoid St James IFAs personally.

People might be able to recommend one from personal experience if you give us an idea of your location OP.

Have you used the free UK government advice as a starter?
I got a list of recommended IFAs out of that hour long telephone session.

Also, it’ll help when you find one to have an idea what you want to do with your life at retirement and if it’s full retirement or partial.

Podcast about that: meaningfulmoney.tv/HB9

View it like dating. You may need to meet several before you find the right one.

Be very clear about what you need, then use the free initial chat to determine if they can teach you more how to resolve your need, and what things they can do for you if you need them to implement. Do talk about costs. They may not be able to give full costs as the scope of the work may not be determined in an initial chat but they can give an idea of cost, particular for retirement cashflow planning.

They do not need to be local. Many work remote, so they can be based anywhere.

Kind of. I can google and find any old local iFA but how do I find a good one from a mediocre one.

Thanks @tanstaafl I'm Lincolnshire based.

Wouldn't class SJP as independent either. Which weirdly is the reason I want an IFA 🤣. I'm pretty well covered with "products", by which I mean I've got a pension, share ISA and VCT investments. I just need some advice re some "overspill" investments. And don't do too well with internet research on my own (too easily distracted 🙄). I'm thinking something like some additional funds into something new like Hargreaves or the other one.

Thanks @nannynick I love a good podcast.

Until you are maxing out ISA and Pension every year, do you need anything else?

You have VCT so I assume you have had an adviser in the past.

Overspill investments - such as? You could use a General Investment Account to continue investing in the stock market once pension tax relief is maxed. You could get into rentals - listen to The Property Hub podcasts. You could get involved with offshore investment bonds but getting into the deep end there.

Maybe you need more planning... have you got cash flow models? Are you able to create those yourself? Using those can you see how your investments may grow and how taxes arise.

If markets take a dip, can you stay strong and not panic? Maybe financial coaching is something to consider.

@nannynick. Yep. Isa and pension maxed out. With a slush fund that needs a bit better handling and risk spreading. I'm also heading into a period of uncertainty as my contract ends next week and never sure if I can spin up another of a similar income. (Ideal situation would to be chill Jan to March using a little of the slush fund before stepping back into another contract paying similar to this one in new tax year). Slush fund is probably 20 months of normal monthly spend.

Full PB just churning over. (I'm a junkie for the "maybe I'll win" each month.

VCT was SJP related and also in relation/mitigation of a large CGT bill. Dividends plus tax rebate means it needs to tank A LONG way before loosing.

I get the hate for SJP. But I've know the guy for longer than I've known my husband. 🤣. I now just want to spread my wings a little wider.

Property hub podcast sounds interesting. I'll check that out. And overseas stuff would be completely off my radar.

Hope this post stays under the radar. Otherwise I'll have to NC

"If markets take a dip, can you stay strong and not panic? Maybe financial coaching is something to consider." I'd probably panic but couldn't/wouldnt do anything about it 🤣 And no clue what coaching might entail to be honest.

A coach could discuss things with you. They don't sell products, cannot advise. Someone to bounce ideas off. They can do cashflow modelling, like an IFA would, so can help you visualise growth on investments and how you might take money out in retirement. An outsider looking at your situation, asking you probing questions to help you determine if what you are planning to do seems sensible. Lower cost than an adviser.