juvenal Posted June 10, 2008 Share Posted June 10, 2008 He advised me to go into a commerical property fund, which to be fair did do ok, but fell badly last year wiping out all the gains. I did say i was concerned about a HPC, but he said it would not happen and anyway a residential HPC would not affect a commercial property! He now advises to transfer my funds into BRIC and emerging markets. Surely thats what everybody else is plnging into and this will eventually fall. Would you trust advice from this man?What do you do when you don't trust your own IFA? I'll add that i have no choice because he is paid for from my companies pension and they won't contribute to anything but their group private scheme. If you are in the company pension scheme, why do you need independent financial advice? Is this the right time to be involved with anything to do with stocks and shares, especially the risker end? It should worry you that he sees no connexion between a residential crash and a commercial property (esp. retail) downturn. He's given you crap advice so far, why should his next suggestion be any better? Have you checked that he's not simply a time server giving the same advice to everyone in the company? If you genuinely don't trust him, you do have a choice - dump him. Quote Link to comment Share on other sites More sharing options...
Pindar Posted June 10, 2008 Share Posted June 10, 2008 No IFA is truly independent, <cliche>no contract truly signed</cliche>. Take any advice with a pinch of salt. Do your own research and be responsible for your own decisions. Quote Link to comment Share on other sites More sharing options...
Saberu Posted June 10, 2008 Share Posted June 10, 2008 I don't mean to be rude but it wouldn't be difficult to learn a little more about what would make a good investment. You already have a little understanding of economics so it's not a stretch. Quote Link to comment Share on other sites More sharing options...
Spoony Posted June 10, 2008 Author Share Posted June 10, 2008 He advised me to go into a commerical property fund, which to be fair did do ok, but fell badly last year wiping out all the gains. I did say i was concerned about a HPC, but he said it would not happen and anyway a residential HPC would not affect a commercial property! He now advises to transfer my funds into BRIC and emerging markets. Surely thats what everybody else is plnging into and this will eventually fall. Would you trust advice from this man? What do you do when you don't trust your own IFA? I'll add that i have no choice because he is paid for from my companies pension and they won't contribute to anything but their group private scheme. Quote Link to comment Share on other sites More sharing options...
clloyd Posted June 10, 2008 Share Posted June 10, 2008 (edited) No dont trust him, he sounds like an idiot! Perhaps to expand a little Emerging markets such as the BRIC nations do look a good long term bet a drip feeding some in wouldnt be a bad idea (dependant on your risk profile). However, they are expensive at present and very volatile. The most important point is your IFA sounds like he falls into the trap most IFA do of backing last years winner, of course that works sometime but eventually crashes. Better to spread the money across several funds in my opinion (if the pension allows, which I guess it does if it has a BRIC fund) Edited June 10, 2008 by clloyd Quote Link to comment Share on other sites More sharing options...
VacantPossession Posted June 10, 2008 Share Posted June 10, 2008 Well, I certainly don't think that buying real-estate in Eastern Europe is a good idea... but, maybe, shares in companies operating in Poland? Not content with screwing up the UK housing market, investors have now trawled their way through Bulgaria, Romania, Poland or anywhere south or east of Vienna so they can now screw up these markets, push up prices and ruin it for everyone there too. There is seemingly no end to people's inate desire to seek unearned profit from anywhere that has an "opening". I hope you meant that Eastern Europe is not a good idea because you are concerned that their markets are being grossly distorted by the unstoppable greed of investors. VP Quote Link to comment Share on other sites More sharing options...
A.steve Posted June 10, 2008 Share Posted June 10, 2008 Surely thats what everybody else is plnging into and this will eventually fall. Would you trust advice from this man? I'm curious about that idea. Sure, if - by "emerging markets" we're talking about low cost manufacturing in Asia, I can see big risks... but, for example, the economies of Eastern Europe seem relatively safe to me. They're not over-inflated and I can only imagine economic activity to increase in the likes of Poland as key workers return from Britain. I guess this is something that really worries me about the term "emerging markets" - it hints at being obscure and difficult to analyse from the perspective of an investor. I imagine that select emerging market investments will do very well indeed. Quote Link to comment Share on other sites More sharing options...
Butthead Posted June 10, 2008 Share Posted June 10, 2008 There is a huge variation in the quality of IFAs. What are you actually looking for advice for? Are you looking to re-allocate your pension money or invest some new cash? If it's pension money, do you need advice on which funds to choose? There's plenty of info on the net to help your decision (including lots on this site!). If it's new cash, then surely you can employ another IFA? Quote Link to comment Share on other sites More sharing options...
Methinkshe Posted June 10, 2008 Share Posted June 10, 2008 (edited) I'm curious about that idea. Sure, if - by "emerging markets" we're talking about low cost manufacturing in Asia, I can see big risks... but, for example, the economies of Eastern Europe seem relatively safe to me. They're not over-inflated and I can only imagine economic activity to increase in the likes of Poland as key workers return from Britain. I guess this is something that really worries me about the term "emerging markets" - it hints at being obscure and difficult to analyse from the perspective of an investor. I imagine that select emerging market investments will do very well indeed. I'd be concerned about the effect of the falling dollar on those BRIC countries that hold a lot of their wealth in dollar denominated securities and/or US debt. Re Eastern Europe. I think the housing markets in Eastern European countries are as much at risk as our own. They were inflated by global cheap money way above the ability of the indigenous populations to subscribe. Many of the punters who dipped out of the UK property market a couple of years ago bought in places like Poland and Bulgaria, trying to catch the next bubble, and in the process sent their markets on a similar unsustainable trajectory as ours. These are just personal opinions and not very well informed - just what I've picked up from reading newspapers and interesting web-links over the past few years. I'd be pleased to hear a refutation that is more informed than my rather hazy opinion. Edited for typos. Edited June 10, 2008 by Methinkshe Quote Link to comment Share on other sites More sharing options...
Saberu Posted June 10, 2008 Share Posted June 10, 2008 The pension companies will do everything possible to not allow you organise your own pension. I tried for a year to transfer a pension into Scottish Widows, they did everything, including losing my paperwork to force me to go through an IVA. Learnt your lesson then didn't you, don't use a pension just make your own savings and investments. Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted June 10, 2008 Share Posted June 10, 2008 moneysupermarket dot com. If computers are good enough for professional dealers on the stock market, Ill use a quant web site any day. Quote Link to comment Share on other sites More sharing options...
A.steve Posted June 10, 2008 Share Posted June 10, 2008 Re Eastern Europe.I think the housing markets in Eastern European countries are as much at risk as our own. They were inflated by global cheap money way above the ability of the indigenous populations to subscribe. Many of the punters who dipped out of the UK property market a couple of years ago bought in places like Poland and Bulgaria, trying to catch the next bubble, and in the process sent their markets on a similar unsustainable trajectory as ours. These are just personal opinions and not very well informed - just what I've picked up from reading newspapers and interesting web-links over the past few years. I'd be pleased to hear a refutation that is more informed than my rather hazy opinion. Well, I certainly don't think that buying real-estate in Eastern Europe is a good idea... but, maybe, shares in companies operating in Poland? Something targeting the polish markets... Polsat for example had an IPO this year. Quote Link to comment Share on other sites More sharing options...
ReggiePerrin Posted June 10, 2008 Share Posted June 10, 2008 He advised me to go into a commerical property fund, which to be fair did do ok, but fell badly last year wiping out all the gains. I did say i was concerned about a HPC, but he said it would not happen and anyway a residential HPC would not affect a commercial property! He now advises to transfer my funds into BRIC and emerging markets. Surely thats what everybody else is plnging into and this will eventually fall. Would you trust advice from this man?What do you do when you don't trust your own IFA? I'll add that i have no choice because he is paid for from my companies pension and they won't contribute to anything but their group private scheme. Sounds like this guy is just quoting you the most popular funds of the day, basically he's got you buying at the top and selling at the bottom. This is a surefire way of losing a lot of money, investing in funds is a medium to long term investment (5 years minimum). Try not to lose your nerve if the price drop and bailout, in 5 years commercial property funds may well have regained their value, it may even be worth thinking of investing more whilst the prices are so cheap. ATM I've just started drip feeding into a Japanese fund, prices are low at the moment, and just started thinking about buying some banking shares. The trick is to discover the next big thing whilst it's unpopular, It's a gamble but over the longterm.. I suppose I had better add that I'm not an IFA, this isn't investment advice, look right before crossing the road. My investments generally go down.... Quote Link to comment Share on other sites More sharing options...
Ah-so Posted June 10, 2008 Share Posted June 10, 2008 I would not be too keen on the BRIC countries. After all, I would not invest in a country just because it makes a nice acronym. Personally, I am looking at China, Uruguay, Nepal and Thailand. But even with my selection, once the demand dries up from the USA and other developed economies, the export-led developing economies will not be able to provide the growth to justify current share prices over the short-term. Quote Link to comment Share on other sites More sharing options...
Tiger Woods? Posted June 10, 2008 Share Posted June 10, 2008 He advised me to go into a commerical property fund, which to be fair did do ok, but fell badly last year wiping out all the gains. I did say i was concerned about a HPC, but he said it would not happen and anyway a residential HPC would not affect a commercial property! He now advises to transfer my funds into BRIC and emerging markets. Surely thats what everybody else is plnging into and this will eventually fall. Would you trust advice from this man?What do you do when you don't trust your own IFA? I'll add that i have no choice because he is paid for from my companies pension and they won't contribute to anything but their group private scheme. Educate yourself; do your own research; ignore numpties. Listen to him, but consider him a source of the "current thinking" in the market. Always assume that when it is being parroted to you by someone like this, that you are probably entering late, and that you are likely to be stung if you stay in what he suggests for any length of time. Seriously, the conclusion I came to 5 or 6 years ago is to ignore these people. You know the definition of a stock broker? S/he's someone who invests your money in the stock market until it is gone. Quote Link to comment Share on other sites More sharing options...
homeless Posted June 10, 2008 Share Posted June 10, 2008 i believe its a 6 week course to become a IFA and mostly they learn how to do all the paperwork in they 6 weeks after this its their personal opinion where they recommend, just like anyone else, infact no-one but yourself is better at judging where to put your money. financial advisors are only for the dumb Quote Link to comment Share on other sites More sharing options...
Spoony Posted June 10, 2008 Author Share Posted June 10, 2008 Cheers guys, this IFA prefers to recommend funds rather then just putting everyone on balanced managed. He has advised me to divert the funds into 3 funds: 50% First State Global Emerging Markets, 20% Invesco perpetual High Income, 30% Artemis European Growth. I woulddo a lot more research but I have rsi so try to not use the pc too much. Perhaps I'll spend less time on here and more time looking at pension funds, any good site recommendations? Quote Link to comment Share on other sites More sharing options...
twatmangle Posted June 10, 2008 Share Posted June 10, 2008 (edited) financial advisors are only for the dumb Agreed. But you try moving a pension without going through an IFA. You get a brick wall at every stage unless you pay for a monkey IFA to fill out a few forms for you. The pension companies will do everything possible to not allow you organise your own pension. I tried for a year to transfer a pension into Scottish Widows, they did everything, including losing my paperwork to force me to go through an IFA. Utter bastards. EDIT: typed IVA rather than IFA. Big Difference!!!!! Edited June 10, 2008 by twatmangle Quote Link to comment Share on other sites More sharing options...
Pindar Posted June 10, 2008 Share Posted June 10, 2008 My last IFA told me "you don't need a pension" and he charged me £150 for committing fraud on my behalf. I thank him for helping me pay for my university education, but I wouldn't trust him as far as I could throw him. Everyone's a winner when the market is on the up, and any idiot can look good for advising you to buy in these conditions. However, nobody has a crystal ball that can tell you what's waiting down the line. You *must* have a sense of what your money is worth and you must invest it wisely. Quote Link to comment Share on other sites More sharing options...
ReggiePerrin Posted June 10, 2008 Share Posted June 10, 2008 Cheers guys, this IFA prefers to recommend funds rather then just putting everyone on balanced managed. He has advised me to divert the funds into 3 funds: 50% First State Global Emerging Markets, 20% Invesco perpetual High Income, 30% Artemis European Growth.I woulddo a lot more research but I have rsi so try to not use the pc too much. Perhaps I'll spend less time on here and more time looking at pension funds, any good site recommendations? Hi Spoony here are a couple of sites I use for fund research, there are plenty of others. The Times and Telegraph websites have some useful information/articles in their money sections. http://www.h-l.co.uk/ http://www.fidelity.co.uk/adviserclient/index.html Quote Link to comment Share on other sites More sharing options...
Killer Bunny Posted June 10, 2008 Share Posted June 10, 2008 No IFA is truly independent, <cliche>no contract truly signed</cliche>. Take any advice with a pinch of salt. Well, er... Quote Link to comment Share on other sites More sharing options...
Killer Bunny Posted June 10, 2008 Share Posted June 10, 2008 Learnt your lesson then didn't you, don't use a pension just make your own savings and investments. Nonsense. Quote Link to comment Share on other sites More sharing options...
Killer Bunny Posted June 10, 2008 Share Posted June 10, 2008 He advised me to go into a commerical property fund, which to be fair did do ok, but fell badly last year wiping out all the gains. I did say i was concerned about a HPC, but he said it would not happen and anyway a residential HPC would not affect a commercial property! He now advises to transfer my funds into BRIC and emerging markets. Surely thats what everybody else is plnging into and this will eventually fall. Would you trust advice from this man?What do you do when you don't trust your own IFA? I'll add that i have no choice because he is paid for from my companies pension and they won't contribute to anything but their group private scheme. He's a typical know-nothing financial product salesman. He is anything but an adviser. How dare he call himself one? As they all do. Quote Link to comment Share on other sites More sharing options...
wonderpup Posted June 10, 2008 Share Posted June 10, 2008 A girl I knew was drowning in debt, with loans, multiple credit cards ect- her mum was bailing her out on the rent for her flat. She also bought a one way ticket to China, on the back of a mate saying they could find her work out there and got stuck with no job and no way to get back( mum to the rescue again.) She was trained in beauty therapy but the money was crap- so she did a six week course and became a financial advisor- priceless Quote Link to comment Share on other sites More sharing options...
twatmangle Posted June 10, 2008 Share Posted June 10, 2008 (edited) Learnt your lesson then didn't you, don't use a pension just make your own savings and investments. Typical twit aren't you? Talking about stuff you know nothing about. My company paid into my pension for years, at almost 20% of my salary. I get 40% addition from Mr Darling. Hardly something to ignore. I wanted to put further money into this pension - this was the problem. I have made my own investments, and have done very very well out of it. I have more money in the bank* than most people's houses are worth. I have achieved that in less than 5 years. When was the last time you put in a tax return for more than £100K? That's why I resent paying an IFA £150 to fill out a few forms for me. This is execution only, and doesn't even include financial advice. Assuming they might be able to tell me anything I don't already know. EDIT: *Not all actually in a bank before you ask. Edited June 10, 2008 by twatmangle Quote Link to comment Share on other sites More sharing options...
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