Lewes Forum thread

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Financial advisor

On 25 Jan 2016 at 5:43am Mrs p wrote:
Can anyone recommend a local financial advisor please?
On 25 Jan 2016 at 11:55am Lewes Fella wrote:
Good luck. I too would be interested. I find that as advisors / wealth managers become increasingly terrified of the compliance issues around "risk", they simply join one of a few consolidated portfolio providers, meaning that anything remotely like a discretionary or custom service is rapidly becoming a thing of the past - unless you are willing to pay a huge 5-6% fee.
On 25 Jan 2016 at 12:09pm Richard wrote:
I have always used Robert Jackson of 'Jackson Financial Planning' based in Crowborough. Haven't used him since the fee changes but he worked tirelessly to secure me two mortgages plus advised on other matters. He also did home visits if you couldn't get to his office.
On 25 Jan 2016 at 6:37pm Historian wrote:
Don't forget that basically they are salesmen. So ensure you buy exactly what you want, if you're lucky enough to actually know what that is.
On 25 Jan 2016 at 8:56pm Woody wrote:
Don't employ anyone who charges a percentage of 'profits' on investments.
On 26 Jan 2016 at 12:17am Lewes Fella wrote:
You should be so lucky, Woody! Wealth managers charge their % on the portfolio size, not on profits!
But you are partly correct - I always avoid funds with performance fees.
On 26 Jan 2016 at 4:55pm Woody wrote:
Indeed LF, performance fees may encourage recklessness - with your cash.
On 26 Jan 2016 at 8:24pm Lewes Fella wrote:
I try to stick to funds in which the Managers are personally heavily invested, to discourage that approach.

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