Can anyone recommend a financial advisor

M

missey1977

Registered User
Messages
36
Hi all,
I have read through the key post "Where can i find a financial advisor", and the one company i saw mentioned was Bluewater Financial Planning, so i was thinking of trying them. I have about £30K and about €20K to invest, so was hoping for an advisor that could advise for the UK as well as Ireland. I could also do with some pension advise.

If anyone out there has anyone they'd recommend i would be grateful. I don't want to just invest myself, i really want an advisor to take a look at my finances.

Thanks all.
 
I personally have dealt with Michael Kiernan trading as MyAdviser http://www.myadviser.ie and would recommend him to anybody. Before you go to any adviser you should try to develop some idea of what you want to do with your money (i.e. do you want pension advice or an investment plan or what?), how long you want to leave it invested, some idea of your attitude to risk etc. The more specific you are in your request the better an adviser can advise on meeting your investments objectives.
 
Thanks PMU,
I'm just waiting to hear back from him. I'm also looking at Orca, Dave Kavanagh and Michael Dowling.
I was put off Bluewater by their set 2% fee which didn't sound too good to me.

Cheers
 
missey1977 said:
Thanks PMU,
I'm just waiting to hear back from him. I'm also looking at Orca, Dave Kavanagh and Michael Dowling.
I was put off Bluewater by their set 2% fee which didn't sound too good to me.
Click to expand...

Hi missey1977

What fees were Orca, Dave Kavanagh and Michael Downing looking for?
 
Orca and Dave Kavanagh both said that the companies that i invest with you pay them, so there is no actual fee. Would you know if this is a good option or not? Does it perhaps mean that they are biased towards certain companies?

Michael Downing was looking for a flat fee of 250. Both Dave and Michael were recommended to me by friends who had done business with them
 
Hi Missey

I remember talking to you yesterday.

There are numerous of different charging methods when you invest money. If the insurance company pays the advisor fee, you pay a higher annual management fee, there are early exit penalties in the first 5 years and a 1% government tax on your premium. The structure I prefer has lower annual management charges, no early exit penalties and no government tax.

You also have to look at what level of advice you get for your money. While some have tried to commoditise financial advice, not everyone gives the same level of advice; taking time to assess your goals, your risk profile, capacity for loss and assessing whether you can achieve your goals within your comfort zone. if not, this is made aware to you at the outset so you can make some trade-offs. That is before I have to do any compliance work for you.


Steven
http://www.bluewaterfp.ie (www.bluewaterfp.ie)
 
Thanks Steven,
I will definitely ask Orca and Dave Kavanagh about the annual fees, exit penalties and government tax before i make any decisions. Like i said i am just asking around lots of companies at the moment, trying to get a feel for this before committing to anything. I don't have a lot to invest, but it's a lot to me :)
 
Sure, no problem Missey.

It's no problem that you prefer other charging structures, just make sure you are aware of all charges.

An insurance company can pay an advisor 4% of your investment value. They have to recoup the money somehow and it's through the annual management charge. Also make sure you are told of the potential downsides to your investment strategy. You worked hard to accumulate that money, you don't want any surprises.

Steven
http://www.bluewaterfp.ie (www.bluewaterfp.ie)
 
One needs to be very careful when picking a Financial Adviser. This business is so unregulated and without you realising it your money has the possibility of disappearing in front of your eyes. There are some good advisers and companies, not many, but personally after finding how crooked the industry in Ireland have vowed I will never invest a single cent in Ireland ever again. Bear in mind I'm down a seven figure amount by the dishonesty of Irish Banks and Assurance Companies.
 
I'd love to, but at present it's sub judice. 2 separate cases, but connected with same Financial Institution.
 
Opportunity loss is calculated and awarded in Court settlements.
 
Sarenco said:
That's certainly a story I would want to read. Seven figure sum - wow.
Click to expand...
Nowhere near unique given the sales approach of most banks who effectively lent the money to the clients to invest in their own financial products. In other words they acted for the client on both sides of the transaction.
Salutary lesson for many. If you need to borrow money go to your bank. If you need to invest go to an independent advisor. Why anyone would take invest advice given by their bank, I just can't understand:confused:.
 
44brendan said:
Why anyone would take invest advice given by their bank, I just can't understand:confused:.
Click to expand...

Amen to that.

It always amazes me that people feel they can trust their bank to look after their interests when the bank is invariably conflicted.
 
Sarenco said:
That's certainly a story I would want to read. Seven figure sum - wow.
Click to expand...

Just picked up this reply, albeit a few weeks too late. It's all down to 'Opportunity Loss', which the courts realise is surmountable in cases, as long as the plaintiff can display past history.
 
Personally I would avoid anything with lock-in periods or exit penalties. All investments should be liquid and accessible. I would also avoid financial advisers who are not fee based. Intuively one wants an adviser who is agnostic (financially) regarding where you place your funds.
 
Gordon Gekko said:
I would also avoid financial advisers who are not fee based.
Click to expand...

Gordon, did you mean fee based Financial Advisers ?

It really is simple, despite the CB saying they will clean up the business, nothing has been done and the way it looks nothing will be done in the foreseeable future. If persons wish to make an Investment in Financial Product in Ireland, keep your money in your pocket.
 
Sarenco said:
That's certainly a story I would want to read. Seven figure sum - wow.
Click to expand...


Hi All

Here is a couple of articles that describe the un-professional behavior of financial company here in Tokyo, that caused some clients to lose seven figure sums of money. At the time this was seeminlgly one of the respected/well known financial companies here, not any more...

The fund in question was hosted by Friends Provident Isle of Man

If anyone has friends/family working abroad be sure to warn them to be very careful of using financial advisors, best to avoid them and manage your own money. Especially advisors who receive commissions on the products they sell


[broken link removed]

http://www.scmp.com/magazines/post-magazine/article/1558078/when-investment-fund-goes-bad
 
Hello,

Independent advisors who are only paid by way of a professional fee from the client are the way to go in my view - they don't have the same potential conflict of interest as those paid commission by the various investment companies, life co's etc.

Thereafter, do your research and see what the advisors reputation is like with people he/she has dealt with previously.
 
You must log in or register to reply here.
Back
Top