Comparsion of financial advisors

L

lz1

Registered User
Messages
74
Got some independent financial advice from a local firm recently. They have really pushed one particular bank/assurance firm to invest our SSIA in.
Is there anywhere (website) I can compare to see that what they are telling us is actually true?

I realise that we are supposed to trust independent advisors but..................
 
Re: Comparsion of companies

What sort of intermediary were they? Multi-agency intermediary, authorised advisor? How many companies do they have dealings with? What reasons did they give for pushing one company's products? What did they say that you want to check?
 
Re: Comparsion of companies

Multi-agency intermediary
Dont know how many companies they deal with.
In the paper work we have they quote Moneymate as the reason Conpany XXX is the best and show tables to prove same.

As you have guessed we are complete beginners with this sort of thing, we have a nice sum of money are are nervous to the extreme as to what to do with it.
Its in a Rabo bank account at the moment.
 
Re: Comparsion of companies

lz1 said:
In the paper work we have they quote Moneymate as the reason Conpany XXX is the best and show tables to prove same.
Click to expand...
What sort of tables? Not mainly or solely past performance I hope? If they do this then I personally would ditch them and look elsewhere for advice.
As you have guessed we are complete beginners with this sort of thing, we have a nice sum of money are are nervous to the extreme as to what to do with it.
Its in a Rabo bank account at the moment.
Click to expand...
Have you read the key posts and, in particular, the AAM and IFSRA guides to savings & investments to get some idea of how to do your own financial review/planning? This is useful even if you do end up going to a professional intermediary for assistance. At least then you know more about what's what and what sort of questions to ask etc.
 
Re: Comparsion of companies

Thanks Clubman.

The tables were purely past performance.
We will follow up with AAM and IFSRA.
 
Of course the tables are past performance.
What else would they be ?

Would you be happier if they were producing tables forecasting nice future returns ?
 
Any advisor presenting only past performance tables to a client and using this as a reason for them to buy a particular products (as seems to be the case here) doesn't know what they're talking about in my non professional opinion. If past performance was just part of the explanation for why a particular product was most suitable then that may be different.
 
lz1 said:
Got some independent financial advice from a local firm recently. They have really pushed one particular bank/assurance firm to invest our SSIA in.
Is there anywhere (website) I can compare to see that what they are telling us is actually true?

I realise that we are supposed to trust independent advisors but..................
Click to expand...


When you say one particular bank do you mean eg invest in AIB shares or invest in a fund managed by a bank ?
It sounds like with your risk profile you should be aiming for average market returns in the euro zone ,there are lots of good funds managed by Eagle star ,AIb,BOI ,Hib etc etc . Compare annual fees and commissions
All the funds have their own fact sheet on these websites ,stating the funds investment strategy,risk profiles etc
Alot of them have made similar returns in the past years so really fees would be the critical factor in deciding between similar products like this
 
There have been very large discrepanices between the Managed Fund returns of (for example) Eagle Star and New Ireland over the last one to three years.

This is no guarantee that the performance gap will persist or not be reversed.

The most important thing is to choose the correct asset allocation.

Once that is decided, the best fund manager for each asset allocation can be decided.

A multi-agency intermediary only focusing on one insurance company/investment manager without at least putting some argument as to pros and cons of others, does not sound (in my humble opinion) like it is doing a full market check for the OP.
 
Re: Comparsion of companies

lz1 said:
Multi-agency intermediary
Dont know how many companies they deal with.
In the paper work we have they quote Moneymate as the reason Conpany XXX is the best and show tables to prove same.

As you have guessed we are complete beginners with this sort of thing, we have a nice sum of money are are nervous to the extreme as to what to do with it.
Its in a Rabo bank account at the moment.
Click to expand...

People are often reluctant to ask advisers how much they are getting paid from the fund manager for signing clients,this is a very reasonable and necessary question.
 
You must log in or register to reply here.
Back
Top