UK Finance (uk.finance) Discussion about Finance issues in the UK.

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Old January 20th 04, 01:02 PM posted to uk.finance
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Default What questions should I ask a Independent Financial Advisor in the UK ?

Hello,

I'm going to see a few Independent Financial Advisors in the UK - in
respect to Inheritance Tax Planning and Investment.

Can someone tell me;

What qualifications / or training the Independent Financial Advisors
should have?

Is there a good question I can ask to ascertain if they know their
products?

Can anyone give me some real advice - on what to expect and what to
prepare for. I've never done this before!

Thank you,

Lara

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Old January 22nd 04, 08:45 PM posted to uk.finance
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Default What questions should I ask a Independent Financial Advisor in the UK ?

In message , Lara
writes
Hello,

I'm going to see a few Independent Financial Advisors in the UK - in
respect to Inheritance Tax Planning and Investment.

Can someone tell me;

What qualifications / or training the Independent Financial Advisors
should have?

Is there a good question I can ask to ascertain if they know their
products?

Can anyone give me some real advice - on what to expect and what to
prepare for. I've never done this before!


If you are looking for advice on IHT & Investment then this restricts
the number of IFAs whop can help you.

Many IHT problems can be solved just be giving you advice on how to
instruct your solicitor to draw up your will (IME most solicitors aren't
able to do this properly) and most IFAs cant do this either.

Firstly, check that the IFA has a G10 qualification and preferably G20
and G70, This should show their proficiency on IHT, Trusts, Taxes and
Investment.

Ask them if they are prepared to give advice for a fee without selling a
product. If they say yes, then that is the right answer.

Ask them what is the best way to avoid IHT. If they dont say 'spend as
much as you can before you die', then go elswhere.

Ask them what would be the best way to invest 20k, (a small sum) If
they say, 7k in an ISA and the rest in a Bond, then go elsewhere.
--
John Boyle
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Old January 23rd 04, 01:07 PM posted to uk.finance
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Default What questions should I ask a Independent Financial Advisor in the UK ?

"john boyle" wrote in message
...
Ask them what is the best way to avoid IHT. If they dont say 'spend as
much as you can before you die', then go elswhere.


Only of the excess above the IHT threshold ...

Ask them what would be the best way to invest 20k, (a small sum) If
they say, 7k in an ISA and the rest in a Bond, then go elsewhere.


It rather depends what they mean by a Bond, it's a word which covers many
different things! Also of course they should not give any answer at all
without exploring what you mean by "best".

--
Stephen Burke


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Old January 23rd 04, 05:55 PM posted to uk.finance
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Default What questions should I ask a Independent Financial Advisor in the UK ?

In message , Stephen Burke
writes
"john boyle" wrote in message
...
Ask them what is the best way to avoid IHT. If they dont say 'spend as
much as you can before you die', then go elswhere.


Only of the excess above the IHT threshold ...

Ask them what would be the best way to invest 20k, (a small sum) If
they say, 7k in an ISA and the rest in a Bond, then go elsewhere.


It rather depends what they mean by a Bond, it's a word which covers many
different things! Also of course they should not give any answer at all
without exploring what you mean by "best".


Thats exactly my point!
--
John Boyle


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