|'Advice' must be unbiased and
independent. Otherwise it's not advice - it's selling
Financial management is difficult and you will almost
certainly benefit from advice.
Until you become a net saver, and therefore an investor,
you should be able to obtain all the advice you need from free sources.
Once you start to save good advice is almost certainly
worth 1/2% of your first £10,000, and the advice will be just
as applicable for your first million.
You are going to live 40 years from your first £10,000
aren't you? 1/2% for 40 years is £2,000 (roughly). So why
don't you spend half of that at the beginning of your financial
life to set you on the right path for the rest of it? If you are
saving for the long term it's what you have at the end that matters,
not what you have at the beginning. Start with £9,000 instead
An adviser must charge you a fee, not a commission.
More, he must charge all his clients
fees and he must not take commissions from anybody.
Otherwise he is not unbiased.
There is no single qualification or designation that
guarantees you are getting real advice. The only certainty is that
someone who includes the word 'adviser' in their business designation
almost certainly isn't. The reason for the persistence of this situation
- which is, in fact, a fraud on the consumer - is that to interfere
with it would damage an industry that takes £6 billion per
year off the consumer in return for acting as the sales channel
of a financial products industry.
Advisers don't need to be clever - just honest. (Simple
Investing only needs simple advice). Try a local accountant (making
sure that is all he is) or a solicitor.