Would You Use a Financial Advisor?

blueaura · 13-04-2007, 12:11

It would be nice to hear the views of a diverse group of people about this. Maybe you already use a financial advisor, maybe you don't need one or don't think you do. Please let me know.

Would you use a financial advisor?

If the options on the poll don't explain your reasons feel free to post why in more detail

Siân · 13-04-2007, 12:14

For anything in particular? House buying? Investments? or just for anything financial at all?

Cos personally I'd probably avoid using one for buying a house but would use one if I had any money (if only!) to invest.

blueaura · 13-04-2007, 12:21

Using a financial advisor for any service, so like you said it could be just one area or a complete financial solution.

So things like:

Estate planning
Pension arrangements
Investment advice
Tax advice
Insurance arrangements
Mortgage / home buying advice
Debt financing arrangements
Financial review
Complaint advice
General advice

etc

Swan_Vesta · 13-04-2007, 12:26

Have done and think that the sun shines out of his backside as he got me a great deal on my mortgage, I'll happily recommend him to anyone who requires his services.

FMC 01246 263283

CockneyMafia · 13-04-2007, 12:27

Would anyone honestly use "Nick Leeson - financial advisors" on Eccy Road?

Ha ha!

blueaura · 13-04-2007, 12:33

Quote:

Originally Posted by mikebayly

Would anyone honestly use "Nick Leeson - financial advisors" on Eccy Road?

Ha ha!

Maybe not the best name for a financial advisors, but funny

purple_frog · 13-04-2007, 12:35

I would love to get some financial advice, but really would have no idea how to go about getting it etc

CockneyMafia · 13-04-2007, 12:38

Quote:

Originally Posted by purple_frog

I would love to get some financial advice, but really would have no idea how to go about getting it etc

Walk into a financial advisors and make an appointment?

ozfan · 13-04-2007, 12:42

Have used same one for about 15 years - he's been really helpful. Got us a great deal when we changed mortgage - he saved us a fortune. He does a review once a year and looks at everything, from pensions to mortgages, ISAs etc. It was during one of these reviews that he looked at our mortage providor and told us we could definitely get a better deal - it was so easy. He did all the work, all we had to do was sign the forms.....
He was also a great help to me when my husband died last year and he went through all the probate stuff with me, sorted out all the forms to do with my husbands pensions etc.
Would definitely recommend using a financial advisor

blueaura · 13-04-2007, 12:42

Quote:

Originally Posted by purple_frog

I would love to get some financial advice, but really would have no idea how to go about getting it etc

Well most financial advisors will charge a fee per hour for their services, like solicitors it can be expensive. Expect to pay £75 - £200 an hour. If you don't have that kind of money many advisors will offer to charge you no fee (or a reduced fee) and take commision from any products you setup through them. Some citizen advice bureua offices also have financial advisors who work for them one day a week and offer free advice.

So there are ways of getting advise at no cost but if an advisor is taking commision are they recommending the product based on it's commision or on it's suitability to your needs? Thats why and advisor needs to be someone you can trust. If you do opt to pay an hourly fee then any commision the advisor makes from arranging products for you is usually rebated either back into the product to give you lower premiums/more money invested or given directly back to you.

Have a look through the yellow pages or yell.co.uk for your nearest advisor, have a chat with them. Most don't charge for the first consultation so you get a chance to meet them and see what they're like. Advisors also have to tell you how they charge you, and what they charge you up front

Hope this helps

ozfan · 13-04-2007, 12:44

Sorry, forgot to add the guy that I use does not charge he takes a commission from the things he set up for us i.e. mortgage, ISA

He did not charge me anything for all the advice he gave me re probate and sorting out my hubbys pensions etc.

blueaura · 15-04-2007, 09:09

Surely more than 7 people have an opinion?!?

shirker · 15-04-2007, 09:21

I don't know about them charging by the hour, usually they make their money from commissions from the products sold. It won't cost anything to see one until you buy something.

For the record, I use Charles James based in Dronfield, and have been pleased with the advise I have recieved so far, (5 years +)

In the past, I have used Homebuyers in Sheffield for mortgage advise, and, again, was pleased I did.

Its worth going to see one, and then decide if they can help you