Home Forums Money Any suggestions as to how I can find the right fin...

Dianeliz Posted 8 months ago
Any suggestions as to how I can find the right financial advisor for me, who will help me instead of telling me why they can’t! I need help but can’t find someone to trust whose actually on my side.

They just seem to tell me how they can’t help. I’m self employed with varying income. I had a lump sum which was my only hope of sorting out a pension. But it’s mostly gone on getting me through COVID. You seem to need both a savings pot and good income – where’s I seemed to have had one or the other. Is there no one who can think outside the box 🤦‍♀️ I’m trying to help myself, but feel like I’m stuck in quick sand.

1 like & 13 replies
    • Alan – Discover Career Coaching 7th October 2021 at 9:57 am

      Perhaps it’s not a financial adviser you need – in fairness, they do need to cover the costs of what they do and this may be expensive for you, or not recoverable by them through the level of investment you are able to make.

      You might want to consider, either the Citizens Advice Bureau or a financial coach.

      Financial coaches do not operate within a framework regulated by the FCA and will not (or should not) offer advice – they could help you to make your own decisions and see what is possible or not.

      Have a look at these people and if you feel confident, give them a call: https://www.financial-coaching.co.uk/about/wise-monkey

    • Alan – Discover Career Coaching 7th October 2021 at 10:01 am

      I should add that I have no vested interest in the company I posted a link to (Wise Monkey) – I did start training to become an Independent Financial Adviser but became a little disillusioned with the process and the business model. I considered training as a financial coach with Wise Monkey but trained as a Career Coach instead. I may yet add financial coaching to my career coaching offer and would seriously think of training with Wise Monkey.

    • MarkEllam 7th October 2021 at 8:37 pm
    • Greyone 9th October 2021 at 4:05 pm

      I must admit to having the same problem as you. Over the past ‘few years I have talked to 4 different companies and have not been happy with any of them. I have used unbiased, vouchedfor and moneyadvice service and now have a long list of people and companies to work my way through. I think part of the problem is being clear on what you want.

    • Angelladytania 9th October 2021 at 4:17 pm

      If you’re looking for some general advice and guidance and want to have a look at ways to create a more secure financial future for yourself, look up a lady called Ann Wilson. Her company is called The Wealth Chef (she has a book with the same name which is really worth reading)


      Lots of different ways to make your money work for you, so that may help you feel more confident about talking to an advisor in the future.

    • londonman2 10th October 2021 at 12:42 pm

      Tread carefully, shark infested waters. Do as much research yourself, just starting with a google search like “inheritance tax” or “Pension drawdown” then if you are speaking with an advisor you are in a position to challenge. Had my fingers burned badly on previous occasions by financial advisors giving advice, whose motivation are their fees/commissions (many of which are undisclosed) as much as your ultimate best course of action

      • Greyone 10th October 2021 at 6:52 pm

        That’s sound advice I know. My first IFA treated me like a sausage machine and didn’t explain half the things he wanted to do. After I said no, I got a package from my DB pensions provider who said I asked for the transfer out value. It took me a long time to understand why.

    • Forestbather 10th October 2021 at 7:30 pm

      None of them will be on your side. They are all on commission to someone. Best to do your own research/trust your instincts.

      If it sounds too good to be true, it probably is.

    • Dianeliz 11th October 2021 at 7:59 am

      Thank you for all your replies. I’m going to have a look at the book mentioned and check out the Wise Monkey.

    • Island Hopper 11th October 2021 at 4:55 pm

      Hi. Yes – I do happen to know a very good, trustworthy financial advisor whom I can wholeheartedly recommend. Myself and members of my family have successfully used this firm many times over the past 25 years. They are PF Financial in Chesham, Bucks. Ask for Jed Elverson. Telephone – 01494 801245. Best of luck

    • Rubal 19th October 2021 at 10:54 am

      Getting a financial advisor might not be what you are looking for. Firstly, their costs might be too high and the job might not exceed your expectations. And I think you need some tips to do this by yourself. I don’t think you need to discover yourself at a point where you’ll need money now even with an advisor (https://moneysavedmoneyearned.com/need-money-now/). If you have some companies to ask for a financial coach then that would be amazing or to search for online coaches. They might be young and without a lot of experience or working on distance and they will char you a little bit lower.