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

[sagitta]

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?

anyone?

have you tried www.unbiased.com? 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.

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

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

Thanks!

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

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 regulations...an IFA can offer you the most variety of products and ultimately the best choice.

Good luck

xxx