Nationwide Independent financial advisor, familiar with civil service pensions etc. ?

Staedtler

Registered User
Messages
10
Hi Folks,

Can anyone recommend an independent financial advisor, who is familiar with civil service pensions / avc's, is not anti civil servant, and who can also give good investment advice with regard to other investments, and give a good overall financial review for a competitive fee ?

I live in Dublin, but the advisers location is not important.

Thanks.
 
Can I conclude from the silence that no one has found such advisor, that can be recommended ?
 
In fairness, your parameters really narrowed down the field!

I assume you a member of a trade union or there is a trade union for your grade? They should/may have a panel of recommended advisors. Might be worth a shot contacting them?
 
The Trade unions push Cornmarket as financial advisers, and I would not be interested in anything they suggest.
 
Maybe you should see who they recommend ? If it's them, ask for another recommendation. What makes you think there are advisors that are anti civil service-if you are paying I doubt they would care where you work!
 
Staetlier,

I saw a similar question here many years ago and I seem to remember there was a suggestion or two. If I find the link Ill post it here.

Independent Professional Financial Advisors on public sector superannuation schemes?

Marsh and Cornwall are use full in that they are selected by public service unions and understand the sometimes complex Public Service pay systems and pension arrangements. Ultimately though they are trying to sell you something and are not truly independent.

It isnt really fair to characterise financial advisiors as anti civil service (although some are!). Its fairer to say they come from a culture in the private sector of incentivised sales (commission etc) often the dont understand how the civil service superannualtion (Defined Benefit) system works. On top of that some parts of the cs/ps differ markedly in the schemes they offer.

aj
 
Maybe you should see who they recommend ?

I have, that's why I'm here asking the question, the unions promote Cornmarket and Marsh, they are not independent advisors and one look at their AVC charges etc. and you would understand why I have no interest in them.


It isnt really fair to characterise financial advisiors as anti civil service (although some are!).

It isn't fair to say I did, that's why I'm here asking for one . . .

Its fairer to say they come from a culture in the private sector of incentivised sales (commission etc) often the dont understand how the civil service superannualtion (Defined Benefit) system works. On top of that some parts of the cs/ps differ markedly in the schemes they offer.

Many public servants, including myself, have worked in the private sector. I don't find them any better or worse.

What I'm simply looking for here is an independent financial advisor that understands public service superannuation schemes, and someone other public servants have had a good experience of, that's it.
 
I did, its from two years ago and only lists one possible company that can be found on Google. As per most people on this forum, I'm looking for a recent personal recommendation from someone who obtained a good service and advice.
 
There is a poster on AAM called LD Ferguson and he's a broker and knows all about pensions. Not sure if he knows of the one you are talking about re civil servants but if he doesn't deal in that area he might be able to recommend someone to you. And you might let us know if you do get a good independent advisor in this area as it seems to be hard to find one.

BTW what is wrong with Cornmarket ?
 
BTW what is wrong with Cornmarket ?

Bronte if you search the public service pensions forum for Cornmarket and/or Marsh you will get plenty of negative commentary and some robust discussion!

In summary they cannot be regarded as truly "independant" as they stand to gain by selling products. The following post comes from the thread referred to above.

I seem to recall some years back that when Cornmarket were being named and shamed on Prime Time for pushing AVCs instead of NSP, their defense was that they weren't authorised to provide advice on the NSP as it's not a financial product.


Staetdler,

There were some older threads which mentioned other advisors if I find them Ill post them here.

So how about it - any of the many Civil or Public Servants who took early retirement recently want a bit of income on the side? :D

The truth is that suitably qualified people with an indepth understanding of civil and public service superannuation DB schemes and in investment products are few and far between.

Over the years I have come across the odd trustee, trade union official, payroll clerk who understood their particular scheme.

I have come accross some financial advisors whose knowledge of c&ps superannuation schemes does not extend far beyond reading the superannuation scheme booklet!

aj
 
There is a poster on AAM called LD Ferguson and he's a broker and knows all about pensions. Not sure if he knows of the one you are talking about re civil servants but if he doesn't deal in that area he might be able to recommend someone to you. And you might let us know if you do get a good independent advisor in this area as it seems to be hard to find one.

I've checked his webiste, it carries the following disclaimer

"We have agency agreements with AXA Financial, Aviva Life & Pensions, Caledonian Life, Canada Life, Dentists and General, Dentists Provident, Friends First, Irish Life, New Ireland, Standard Life & Zurich Life. We also have an agency with Phoenix Ireland (formerly trading as Scottish Provident) but this company no longer accepts new business. We do not provide advice or services in relation to financial products from companies other than the above."

What I'm looking for, is a recommendation from people who have actually availed of an independent financial advisor's services and been happy with them. - I'm now beginning to wonder does such an advisor even exist in Ireland

BTW what is wrong with Cornmarket ?
They are not independent, they are promoted by the unions and the employers by special arrangement (along with MARSH), they charge high fees, many of their funds have a history of poor performance, and many of their public service customers have found them to provide a poor service. Check the other threads. Prime time done a documentary on them some years ago.
 
2011 is not that long ago although Im sure there are one or two older threads on the subject I just cant find them.

There is an ex Dept Finance guy called Billy Power who provides expert consultancy to a number of public bodies. He is mentioned in this PQ response. I don't have contact details unfortunately.
 
I've checked his webiste, it carries the following disclaimer


What I'm looking for, is a recommendation from people who have actually availed of an independent financial advisor's services and been happy with them. - I'm now beginning to wonder does such an advisor even exist in Ireland

.

But I bet you that if you contact LD he will know if such a financial advisor exists or not. He knows his stuff and gives great advice on pensions on here from time to time (not a fan myself of pensions etc but that's another story)

Cornmarket, if they are so bad, why do the unions push them? Do they get paid/commission for doing so?
 
But I bet you that if you contact LD he will know if such a financial advisor exists or not. He knows his stuff and gives great advice on pensions on here from time to time (not a fan myself of pensions etc but that's another story)

Cornmarket, if they are so bad, why do the unions push them? Do they get paid/commission for doing so?

I'd imagine they get some sort of kickbacks. What form it take I don't know, you'll have to ask the unions, they don't announce it.

Again, I appreciate the help, but has anyone here actually got a personal recommendation of an independent financial advisor that they themselves have used and were satisfied with their recommendations and service ? - That's what I've been looking for.
 
not sure if you found someone as see the thread is a few months old. There is a company www.retirementadvice.ie who deal witht he public sector. I have met with Evan Hughes int he past and found him very helpfula nd not looking to sell me anything.
 
i went to a guy in d4, who specialised in this are. cannot of the life of me remember his second name...first name as ultan. got him through ahpcs
 
Back
Top