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Thread: How do you find a GOOD financial adviser.

  1. #1

    How do you find a GOOD financial adviser.

    So in all walks of life there are good mechanics and crap mechanics and across the board there are various people who have gained their papers, but, as we know passing an exam doesn't mean you are any good.
    So how do you find a GOOD adviser? How much would I need to pay? Why is it so flipping complicated?

    l am just trying to find out if the missus and I will be able to retire some day so any pointers that can help. PM me if you don't want to do it in public.
    cheers.
    I can speak in-depth and with great knowledge about most subjects until some bugger who actually knows what he is speaking about opens his gob .

  2. #2
    If the present Government remain in power you would be as well wiping any thoughts of retirement out your mind

  3. #3
    All financial advisers are the spawn of Satan and are not to be trusted - put it under the mattress and buy a smoke alarm
    For Gods sake - don't tell her how much I've spent

    Ctrl-Alt FACT

  4. #4
    Ask as many friends as possible and business people as possible.
    See what they say.

  5. #5
    Unless it's by personal recommendation, it's a lottery.

    Depends what you want to do with your money really. If you want to save or you want to invest some cash, it depends how risk averse or otherwise you might be will be the first question. Obviously the more interest you want to earn, the more risk there is involved as a general rule. If you want totally safe and sound, then perhaps paying an adviser is a waste of money. Look at the usual internet sites and find a good interest rate. If you can call anything that's on offer at the moment good. Don't forget to use your ISA allocation.

  6. #6
    Quote Originally Posted by Hereford View Post
    All financial advisers are the spawn of Satan and are not to be trusted - put it under the mattress and buy a smoke alarm
    Thanks mate... love you too!

  7. #7
    Quote Originally Posted by Vipa View Post
    Thanks mate... love you too!
    For Gods sake - don't tell her how much I've spent

    Ctrl-Alt FACT

  8. #8
    I wouldn't say they were the spawn of satan, but most detailed analyses show that, averaged over the long term, almost none of them perform better than chance, and many perform substantially worse.

    You'd be better off throwing darts at a spread-sheet pinned to the wall, or getting an octopus to put ping pong balls in cups...

    But if you insist on going with a human, then try to find one that has a basic understanding of statistics! Ask them what 'regression to the mean' is, and if they can't answer, politely end the conversation and move on.

  9. #9
    Quote Originally Posted by Mungo View Post
    I wouldn't say they were the spawn of satan, but most detailed analyses show that, averaged over the long term, almost none of them perform better than chance, and many perform substantially worse.

    You'd be better off throwing darts at a spread-sheet pinned to the wall, or getting an octopus to put ping pong balls in cups...

    But if you insist on going with a human, then try to find one that has a basic understanding of statistics! Ask them what 'regression to the mean' is, and if they can't answer, politely end the conversation and move on.
    If you are talking about investing money then keep it simple, don't imagine that anyone has a system that works and buy index funds. I would go for ETF's as they can be cheap and are simple to buy and sell. I have been in the business for 25 years and completely understand your concerns. I have them as well.
    Last edited by howa243; 29-09-2015 at 09:09.

  10. #10
    Not the spawn of Satan, but in my experience many make pretty big claims about what they can do to grow your money and then come up with a list of reasons outside their control a few years later when your money hasn't grown by the 10% a year that they suggested it would.

    They are very useful for advice on how to manage your cash for best tax efficiency, planning what you can expect to earn a year from your pension so you can manage your own expectations, mortgages etc., but be careful of the guy who confidently tells you he can grow your cash for you, he has not got the control over the markets to be able to make those claims.

    Finding a good one has to be on personal recommendation. Wouldn't have a clue how to do it otherwise.

    Try Vipa. Has guns, shoots deer, must be trustworthy!
    So much to learn and so little time left

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