Island's Future As A Finance Centre

[Sebrof]

Bellyup, here is some free advice. Unless you are actually paying a financial advisor, he is not an independant financial advisor. They are simply the type of financial advisor you describe above. A true IFA you have to pay, and he may, or may get any commission from products and strategies he recommends to you.

 

No. You seem to be confusing 'independent' with 'unbiased'. They were initially called independent to differenciate from an advisor who works for a single organisation, for example a financial advisor for a bank. The regulation is now quite tight, and you always have the option to pay for their advice rather than them receive a fee and any commission the IFA receives must now be disclosed.

 

I was quite impressed with Financial Options, who advised me to take a product where they received no fee, and their advice was free. Their position was that I was more likely to take other products that did earn a fee, such as insurance, though them, and I did.

 

Go in with your eyes open certainly, but your post is quite badly out of date in my opinion.

 

You are both right, because you are using different meanings of the word "independent".

 

Rather than "impartial", Slim, I think you mean "disinterested". And I would be worried about your arrangements, because your advisors are not disinterested.

 

Your arrogant mate,

 

S

[Sebrof]

All IFAs should be rich , how can they advise you on your finances if they haven't managed it for themselves.

 

True words, Bellyache. Now see if you can keep it up.

 

S

 

Did you study to be offensive or were you just born that way?

 

It's a skill I acquired while posting on Manx Forums. I am a mere novice compared to some people here.

 

S

[ans]

This appears to have denigrated into yet another KSF thread. Closing this. Please use http://www.manxforums.com/forums/index.php?showtopic=32732