wish to invest a lump sum and have got in touch with a financial advisor.

[raf mc]

I wish to invest a lump sum and have got in touch with a financial advisor.
He will invest my money in Bcp or investec. I am worried about sending him the cheque. The company is TAB and appears ok and it is guaranteed by the central bank.
The advisor said that he will get the fee from the financial institution instead of the branch if I go personally to the bank
Is he too good to be true?
He said he will keep and eye on my investment over time. The fee for this
assessment is 150 euro.

 

[millieforbes]

The advisor said that he will get the fee from the financial institution instead of the branch if I go personally to the bank
Is he too good to be true?

I don't understand your point here - is this implying he will give you the fee amount?

 

[LDFerguson]

He will invest my money in Bcp or investec.

As far as I know, BCP offerings are mostly (all?) tracker bonds. Are you clear on all the technical points of how the recommended tracker bond works and why it is suitable to your requirements?

The company is TAB and appears ok and it is guaranteed by the central bank.

I know nothing about this company - good, bad or indifferent - but just be clear that they are not guaranteed by the Central Bank. They are regulated by the Central Bank. Big difference. No intermediary firm is guaranteed by the Central Bank.

He said he will keep and eye on my investment over time. The fee for this assessment is 150 euro.

Are you sure you know what exactly you're paying for with this €150? What exactly does "keep an eye on" your investment mean?

 

[Jim2007]

I wish to invest a lump sum and have got in touch with a financial advisor.
He will invest my money in Bcp or investec. I am worried about sending him the cheque. The company is TAB and appears ok and it is guaranteed by the central bank.
The advisor said that he will get the fee from the financial institution instead of the branch if I go personally to the bank
Is he too good to be true?
He said he will keep and eye on my investment over time. The fee for this
assessment is 150 euro.

Tell me what are your financial objectives?
Did the advisor help you create an over all financial plan or a some kind of health check?
What is your risk profile?
How are you going to benchmark the performance of the advisor?
Why did the advisor suggest this approach to you?

Just some of the questions I'd want to have answers to before I'd let anyone manage my cash...

Jim

 

[oaktree1234]

I have just got a letter from BCP I had a tracker bond quadruple 10 issued three and a half years ago, I have just lost 10% of my investment. So be wary. BCP do not show this on their literature only the gains that they make, which is a bit of a mirage as their bonds now are split between tracker and cash so obviously the cash part does not lose, but quite often the investment part does.