We don't give advice on products

This is what people have to say about product advisers or financial intermediaries.

“What 'financial advisers' never mention is luck.  And you need a lot of that, 'expert' or not. What amazes me is that punters continue to pay someone to lose their money. Remarkable. The real money is in taking a 50-year view and sticking with it.  That's what charities and some wealthy families will do.  Churning is much loved by experts, but it rarely pays in the long term.” William Rusbridge

“Maybe there is a market for financial advisers to the rich and stupid but in my experience these advisers offer virtually nothing and charge a fortune for it.  All the advice you need is free on the internet.  Advisers offer no magical door to better products or decisions. All they want is to plug into your assets and charge a fee.”

R Knewnham 

“The FTSE follows the Dow. When markets look like they have gone too far, they retrace. Keep an eye on it, do your own investment and wise up on tax. Start out in researched funds. Don’t borrow to buy nonessentials and you will do ok without any adviser.” Chester Drawers.

“If they are so wonderful, why don't they keep their secrets and make themselves a fortune. No, its easier to make money out of poor advice, which in the end is on a guess and really only a gamble. It’s easy to spend someone else's money.” Russell Ellis.

“The only trend I can see after 15yrs investment is that the share value increases to 31st Dec annually, when fees are calculated on the % value of the fund and individuals' commission calculations are made based on portfolio values. Then, funds drop in Jan through May and veer between 'creep and rocket' from late Oct to Dec. My IFA is more expensive than average based on this article, but good performance and always available, has been IFA for me for +15 years and my parents before that. Trust is imperative in this relationship and remember always that it's 'your' money so ultimately your responsibility.” Stuart Davies.

“I know an IFA who works from home, about 30hrs a week, 'manages' around £10m for private clients. His current advice is 'do nothing' which may or may not be the correct response, but I am not certain it is worth the £100k pa he charges.” MR Clyde.

“The capacity of people to be taken in by con men never ceases to amaze me. Why pay such people fees to invest in what pays them commission rather than invest yourself after a modicum of research into a wider range of products?” Mick Gould. 

All quotations are from the Telegraph 18th July 2020.

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