Originally Posted by
downsizer
Is it worth employing an IFA.....I have cash sitting around not doing much and I'm thinking of investing it....what do I get that I have to pay someone for that I couldn't suss out myself?
You can of course try, but chances of success ? I have been seriously interested in financial matters for 25 years, but have no better than a reasonable return on investment. Simply because of natural inclination, I , for example, have never had the slightest interest in bonds and know nothing, but undoubtedly ( now for instance ? ) these may have been the best choice. This is one area where i find that, for me, the Net has seriously worsened the flow of information: I used to subscribe for many years to a since defunct magazine which published topical articles every month and had an absolutely superb set of tables with 10 years of data of all Investment trusts and other funds: if interested in UK Smaller Cos, I could have all the relevant data in front of me in 20 seconds. Now, with the Net, this would take hours and I know of no site that would allow me to compile it in an easy-to-read format.
EDIT: I did use an IFA for several years but was deeply unimpressed by his performance. There is one major change just being introduced this/next month and that is IFA's will have to show (in some way ) that you are receiving and benefitting from their advice: it should no longer be possible to pull in their 1% or 2% in exchange for a generic quarterly newsletter.