An elderly relative has inherited a six figure sum. He has asked me to find out where is the best place to put it. I have advised him to get an independant financial advisor, but he wants me to find that advisor and deal with him/her on his behalf , as he says he wouldn't understand any of that "stuff". Sadly for him, I really don't know much about that 'stuff' myself.
My question: How can I choose an advisor ? What should I be looking for when deciding who I choose. Are there 'good' and 'not so good' advisors. I looked at the thread on IFAs and noticed that people differed on who to use.
Any advice on how I should go about this ? If it was my own money I would have to live with my mistakes, but I don't want to err with somebody elses.
Thanks.
My question: How can I choose an advisor ? What should I be looking for when deciding who I choose. Are there 'good' and 'not so good' advisors. I looked at the thread on IFAs and noticed that people differed on who to use.
Any advice on how I should go about this ? If it was my own money I would have to live with my mistakes, but I don't want to err with somebody elses.
Thanks.