Myadviser.ie feedback on "Premier advice service" product

I

iorras

Registered User
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Hello
Firstly compliements on the website, its a fantastic service. I have been viewing for a while and have finally got round to asking a question.
Apologies if this has been asked allready, I have searched but havent found the answer if it exsists.
I have a lump sum of about 250K to invest, currently its in a (relatively) high yield deposit account while I figure out what to do.
Some posts on this site mentioned myadviser.ie as a place to go. I have looked at it and am considering using their premier advice service.
1. Before I committ the circa 1K required I'm wondering does anyone have any feedback good bad or indifferent on that particular service.


thanks in advance
 
I thought myadviser.ie was an independent advisor :confused: ?
 
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Have edited the post accordingly, yes your right, I cant articulate properly the question I was trying to ask so I have removed it. I suppose I was trying to ask how do they compare to a "bricks and mortar" type face to face independent advisor rather than an online one but on reflection that question dosent really make any sense.
 
iorras said:
Have edited the post accordingly, yes your right, I cant articulate properly the question I was trying to ask so I have removed it. I suppose I was trying to ask how do they compare to a "bricks and mortar" type face to face independent advisor rather than an online one but on reflection that question dosent really make any sense.
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That is a fair enough question in my opinion but one that is difficult to answer other than by people describing their own first hand experiences. When I saw that MyAdviser's consultation seems to be all done anonymously/online I wondered if this would be suitable in all cases and if they perhaps follow up directly to tease out additional fact find issues and scenarios? On the other hand if they are offering a service for a fixed fee then I would imagine that it's a fairly fixed service to all clients (by which I mean that they process the same sort of questionnaire/information and come up with recommendations for the specific individual as a result).
 
ClubMan said:
That is a fair enough question in my opinion but one that is difficult to answer other than by people describing their own first hand experiences. When I saw that MyAdviser's consultation seems to be all done anonymously/online I wondered if this would be suitable in all cases and if they perhaps follow up directly to tease out additional fact find issues and scenarios? On the other hand if they are offering a service for a fixed fee then I would imagine that it's a fairly fixed service to all clients (by which I mean that they process the same sort of questionnaire/information and come up with recommendations for the specific individual as a result).
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Yes, thats what I was looking for, first hand experiences. Thanks
 
I have used the premium service - initially about 18 months ago. My experience was that while the initial requests may go through email, there is certainly a personal contact element to the follow up and discussions. I had no issue having follow up discussions by phone.

The nature of the correspondence and advice is actually good in that I have a hard copy email record of each step in the advice process. I have found historically that sometimes when you have a face to face only meeting there may be gaps and or misunderstandings in the logic used to get to the advice - appreciating this shouldn't be the case.
 
My initial query was solely regarding pension setup - I had moved jobs and needed to address my pension arrangements. Once I got talking with Myadviser I was happy to consider the premium review - although I believe that it was significantly cheaper at the time - perhaps €350 - not sure. By moving to the premium review I was adding insurance, savings etc to the review mix.

Myadviser's initial response was extremely comprehensive - covering a summary of each goal in familys finances such as pension, life insurance, savings for education etc and providing general and specifc recommendations for achieving each goal. Some of the advise is common sense which may be achieved by spending the time yourself doing the review but I found going through the exercise with an independent experienced advisor was excellent in making sure I had a handle on the issues and was doing the best to address them all.

As an earlier poster pointed out there may be supplementary fee related to actually doing a search for a recommended investment product to meet the agreed investment goal. However, I found myadviser very clear at all times about where fees may/may not be levied and any commissions being attached to recommendations.

Check back in 30 years to see whether the advice actually proved to be good quality!

It is worth noting that the process may actually take some time from start to finish. I also felt I got value from the premium review becasue I needed to look at a few different areas (pension, insurance, savings etc) - not just one very specific area.
 
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