Best place to find out about investment?

[tspill]

Originally Posted by FlorayG

Are there not other things to invest in than 'markets'?

See more...

If you are really interested in this subject, you could do a lot worse than to have a read at "Smarter Investing" by Tim Hale. It's a very easy read and if interested will give you the necessary understanding to do your own investing or it will fully equip you with the knowledge to have a very productive conversation with an IFA. It would certainly give you a good understanding around your options etc.

amazon/Smarter-Inv...s%2C148&sr=8-1

[FlorayG]

Originally Posted by tspill

If you are really interested in this subject, you could do a lot worse than to have a read at "Smarter Investing" by Tim Hale. It's a very easy read and if interested will give you the necessary understanding to do your own investing or it will fully equip you with the knowledge to have a very productive conversation with an IFA. It would certainly give you a good understanding around your options etc.

amazon/Smarter-Inv...s%2C148&sr=8-1

See more...

That looks useful thank you - I will start there I think!

[EssexSue]

Originally Posted by disney332

If you bought a Chateau Lafite for £100 and sold it for £500 you may think differently.

Many do, because as its consumed, the unopened bottled vintage increases in value.

Disney332

See more...

I assume you don't keep this in your home anyway. I can imagine a scenario when you want a second bottle and accidentally opening it. Or is that just me?

[Lisa123wm]

Originally Posted by EssexSue

I assume you don't keep this in your home anyway. I can imagine a scenario when you want a second bottle and accidentally opening it. Or is that just me?

See more...

I would too 😆

[Pumba75]

Originally Posted by FlorayG

I've got some people very interested in mom's bungalow and I think will make a decent offer. When it sells I will have a 'substantial amount' of money in the bank. I'm wondering how to find out how best to invest it to generate an income for me.
Do financial advisers really give you the best advice for you and not what will make THEM the most profit? What do Dibbers suggest?

See more...

In answer to your first question - IFA’s are very heavily regulated and have to be able to demonstrate the advice they give is the most suitable for the client. They are also required to hold a certain level of professional qualification before they can be authorised by the FCA to give that advice. So, no, they’re not giving advice on what will make them the most “profit” - the suggestion itself is a bit of a tired cliche.

In answer to the second question, why would you prefer to get advice from people who aren’t qualified or authorised to give it rather than a professional? There are a few people on this board who are experienced, but they accept the personal risk that comes with that. However, nobody posting suggestions on this thread is an authorised adviser (they can’t be, otherwise they wouldn’t be making suggestions on this thread - which constitutes advice under FCA conduct of business rules - as they’d be risking their professional registration). What happens if you take the suggestion of someone here and lose money because it wasn’t suitable for you? What consumer protection will be available to you? No-one here knows enough about your circumstances or attitude to investment risk to know what is the right solution for you, but there are suggestions made that would be considered high risk (and certainly higher risk than “the markets” that you don’t seem keen to invest in).

Any initial consultation with an IFA is free of charge - they’ll go through a process of ascertaining your situation, along with your needs and risk tolerance, set out what services they can provide and the cost of doing so. You can then make a decision as to whether you wish to engage them, or “diy” - but if the latter, please don’t do it by asking on an internet holiday forum. If you’re not confident enough to do it yourself then use a professional.

[Moorlandman]

Originally Posted by Pumba75

If you’re not confident enough to do it yourself then use a professional.

See more...

The OP was asking a general question regarding whether we trust IFA’s to make the correct decision or whether they put there own profit first. This maybe based on their own previous experience or the scandals you read in the press

When my previous company closed, financial advisors appeared like vultures tempting us to part with our final salary pensions. This has now been banned and quite rightly so

[Apricota]

How about business to business lending via a platform to enable spread of investments with first charge on property plus the interest.

[Pumba75]

Originally Posted by Moorlandman

The OP was asking a general question regarding whether we trust IFA’s to make the correct decision or whether they put there own profit first. This maybe based on their own previous experience or the scandals you read in the press

When my previous company closed, financial advisors appeared like vultures tempting us to part with our final salary pensions. This has now been banned and quite rightly so

See more...

The OP asked for suggestions as to how best to invest to generate an income - it’s an advisory question which can’t be answered here by people that are qualified to do so.

I’m not sure what relevance the second point is - it’s a demonstration of the steps the industry has taken to become more professional and provide more protect clients. My comments were based on what the requirements are at this time.

[tspill]

Originally Posted by Pumba75

In answer to your first question - IFA’s are very heavily regulated and have to be able to demonstrate the advice they give is the most suitable for the client. They are also required to hold a certain level of professional qualification before they can be authorised by the FCA to give that advice. So, no, they’re not giving advice on what will make them the most “profit” - the suggestion itself is a bit of a tired cliche.

In answer to the second question, why would you prefer to get advice from people who aren’t qualified or authorised to give it rather than a professional? There are a few people on this board who are experienced, but they accept the personal risk that comes with that. However, nobody posting suggestions on this thread is an authorised adviser (they can’t be, otherwise they wouldn’t be making suggestions on this thread - which constitutes advice under FCA conduct of business rules - as they’d be risking their professional registration). What happens if you take the suggestion of someone here and lose money because it wasn’t suitable for you? What consumer protection will be available to you? No-one here knows enough about your circumstances or attitude to investment risk to know what is the right solution for you, but there are suggestions made that would be considered high risk (and certainly higher risk than “the markets” that you don’t seem keen to invest in).

Any initial consultation with an IFA is free of charge - they’ll go through a process of ascertaining your situation, along with your needs and risk tolerance, set out what services they can provide and the cost of doing so. You can then make a decision as to whether you wish to engage them, or “diy” - but if the latter, please don’t do it by asking on an internet holiday forum. If you’re not confident enough to do it yourself then use a professional.

See more...

One of the biggest problems IFAs face is what is "good" or the "best" advice. Most coming this for the first time will, almost certainly translate this to "make me the most money". The whole concept of financial risk and its importance is not well understood, nor is the concept of "financial objectives". They will blame an IFA when the value of their investments drop (usually unfairly).
You will read many stories on forums where IFAs get a pasting for not making sure their investments didn't drop (when they all drop - e.g. during this CV crises). Again usually unfairly because clients didnt really understanding investing at all.

[Mr Tom Morrow]

In no way am I an expert but some of the advice on here seems very good in my view.

I saw an Investment Manager with NatWest when I retired, free service and he gave excellent advice to us.

Did we take it all? No. However some of the recommendations he mad which were very broad brush were excellent.