Would it be money well spent,if I was to get a financial advisor?
Question:
Answer:
No. Absolutely not.
Financial advisors are usually just salesmen.
Read this:
http://advisor.morningstar.com/articles/...
And this:
http://www.efmoody.com/whouse.html...
It's very easy to learn to do your own investing.
https://flagship.vanguard.com/vgapp/hnw/...
http://www.amazon.com/investing-dummies-...
why? you can check anything financial out on the net now for free please dont get an f.a. (the initials say what they are good for :))
re the mortgage bit below - they charge more for arranging a mortgage than the legal fees - and no they aren't impartial they get bungs from all over sorry... (did conveyancing work and a lot of people get conned by bad mortgage advise)
Depends what kind of product you're considering. If it's a mortgage the definately yes. They are impartial (unlike high street lenders).
Yes, it most certainly is a big help especially at this uncertain time. But use a well known firm. I use Alan Steel because I live in Scotland and his people have been really great.
Depends - if you are 40+, have had more than 4 jobs in your lifetime, are "well off" and are looking at investing/re-mortgaging - then yes - good idea.
They will help you consolidate the pensions you have left lying around after each job you have had and will be able to advise about best investment and best mortgage.
To my mind they are worth it for the pension (but then I have 11 pensions scattered around the country and not all are a good investment!)
i have just got one. i live in the uk and wanted life insurance and a pension, there were so many on the market i got completely baffled but they have been excellent in helping me understand it all.
They werent expensove at all as the intial consultation was free and they only charge you if you take out a product via them, then i had a choice i could pay them the £953 direct or pay it via commision throught the company i tool out the life insurance with.
When they gave me the detail of the policies avaliable i went direct to the companies, they were going to charge me the same whether i went thru an adviser or direct with them, the commision option just means the insurer gets a smaller cut than if you go direct.
my advice is, if you fully understand what product you want and youunderstand the options then you can probably do it yourself online but if you have the slightest doubt get an adviser but shop around first. there are some dodgy ones out there. if possible get a recommendation from a friend
Possibly but how do you know a good one. I have had two 'Independent' advisors and they certainly were not looking after my interests. One from my bank and the other from a building society that I had some cash in They were both looking after their own interests
I would suggest you be careful, very careful. The world is full of rogues and I would suggest you use your own common sense unless your affairs are very complex
Most banks have advisors you can talk to for Free.
Really wealthy people use financial advisors to check for tax loopholes so they can minimise the tax they pay. They save buckets more than the fee of the advisor. I read somewhere that the really wealthiest people pay no tax at all because of all the avoidance breaks. Unless this is you, with more money than you can count, you don't need an advisor. There's plenty of free advice on the internet, and your bank will advise (but do watch out for them trying to sell you a particular product), citizens' advice will help advise about your rights. If you have a query in any area, ask you friends for their experience. Learn who and what to avoid by the mistakes they have made. Financial mistakes are costly lessons.
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