Looking for Independant Financial Advisor

[Moneytalks2]

I'm looking to invest in a managed fund and am looking for an Independent Financial Advisor to point me in the right direction and get me started.
I don't want someone affiliated with a bank because then the advice won’t be neutral.
Can anyone recommend someone good in the Dublin area?

 

[ClubMan]

[broken link removed] will give you a list of registered authorised advisors and multi-agency intermediaries if you contact them. You are right to avoid tied agents if you are looking for independent, professional advice.

 

[Happy Girl]

I followed this route on Monday seeking a list of INDEPENDENT Financial Advisors from the Financial Regulator. Was sent a list of "Authorised Advisors" who are all tied agents. I e-mailed them back to say looking for Independent Advisor listing and the following is their reply:
Further to your reply of 6 March please see the following definition of an Authorised Advisor:
'An Authorised Advisor (AA) is a term that describes an investment business firm that can provide investment advice on investment instruments without the necessity to hold a letter of appointment. In addition it can receive and transmit orders to product producers from whom it holds a letter of appointment. An AA is obliged to recommend the most suitable investment product available in the market, regardless of whether or not it holds an appointment from the relevant product producer.'
Therefore whilst an AA may hold appointments from any number of product producers, he must recommend the most suitable investment for you. As such he acts independently of any institution. I hope this answers your query.

So best of luck seeking independent financial advisor. Spoke to accountant today who didn't even know where to refer me to.

 

[ClubMan]

Was sent a list of "Authorised Advisors" who are all tied agents.

Tied agents are tied to a single product provider. I would not imagine that many (any?) AAs are tied agents in this sense?

Therefore whilst an AA may hold appointments from any number of product producers, he must recommend the most suitable investment for you. As such he acts independently of any institution.

So best of luck seeking independent financial advisor. Spoke to accountant today who didn't even know where to refer me to.

I don't understand your problem. As explained above an AA has a duty of care to only recommend investments that are in your best interests and match your specific individual needs regardless of who sells them.

 

[CCOVICH]

I guess that certain AAs could be tied to one institution only for selling purposes, but as ClubMan says, they are still obliged to advise on what is in your best interests. If you know they are tied to one institution and push you toward that institution, challenge their recommendation.