Do you use a Financial Adviser?

  • Yes
  • No

0 voters

Do you work with a financial adviser to manage your money & investments?

If it is the case, do you have any tips to share?

I use two robo advisors that i find very useful. Wealthify and Nutmeg

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I’ll second Wealthify. My Stocks & Shares ISA tanked when Coronavirus started escalating a few weeks ago but it’s already back up to near enough where it was before. They’ve been sending regular updates throughout explaining what steps they’re taking to mitigate losses. I suspect the worst may still be to come, but it’s encouraging to see things hold steady for now.

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Initially we had a financial advisor for our first home purchase and setup insurances/assurances after a few years we stopped seeing the value of the monthly fee and therefore stopped the service.

Our advisor was super helpful and took the pain out the mortgage application and setting up the policy’s.

Once we have some normality back in our lifes, I will be looking at reviewing our finances and policy’s again.

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Use Wealthify, and not logged in for ages, nice to see at the moment it has bounced bank. I am probably going to invest a lump sump into a pension, and I currently with HL, but probably going to use Wealthify, especially as support by MDB.

I see when you announced Wealthify that you said “Stocks & Shares ISA, General Investment Account and Junior ISA.” do you also do their Pension products ?

Thank you

I don’t use one but then I work for one. Though not an adviser myself, I am a Chartered Financial Planner, so don’t think I need one.

I still use a mortgage broker (a friend from a previous jobs), as I am not qualified on mortgages.

As for tips, my tips would be avoid the big names IFA firms. The larger they are the more expensive and less personalised the offering.

Hi @philgq,

What are the differences between a certified financial planner and a chartered financial planner ?

Thank you in advance for explaining,

Jonathan

Both Chartered and Certified are level 6 Qualifications (recently Certified has become level 7). The main difference is the institute it belongs too. A Chartered Financial Planner is part of the Personal Finance Society (PFS) which is part of the Charters Insurance Institute.

A Certified Financial Planner was from the Institute of Financial Planning before it was taken over by the CISI. Certified Financial planners I believe can now use the Chartered Wealth Manager designation.

While the two are equivalent they are not the same, a Chartered Financial Planner is a more technical orientated qualifications based on knowledge. Certified is based on applying knowledge utilising things like cashflow but IMO the depth of knowledge is more limited.

Thank you for explaining @philgq.

Very interesting and usefull!

Sure, holler if you need anything else.

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