Any good Independent Financial Advisers in SE1

Join in these discussions today! Log in or register.
Monday 19 July 2004 2.01pm
Does anyone have any experience of a good local Independent Financial Adviser to help me sort out my money woes?? Maybe someone you have used and is worth the money??
Monday 19 July 2004 2.15pm
Is there any local person that does Neck & shoulder massages?
Monday 19 July 2004 3.04pm
Welcome to both Radiowave and Barbaraemmerton, I'm assuming you're newcomers, as I've not noticed you before. Barbaraemmerton, you might increase your chances of success by starting a separate thread, people will see your query on the discussion list.
Tuesday 20 July 2004 1.51pm
Radiowave - what sort of financial problems are you looking for help in resolving. I have a really good mortage advisor but I'm not sure he'd be suitable for sorting out 'money woes'.

Let me know what sort of problems you're looking to resolve and I'll see if I can offer any more specific advice
Tuesday 20 July 2004 2.52pm
I would be really interested in speaking to a good mortgage advisor, JGarcia. Would it be possible to have his/her details?
Tuesday 20 July 2004 3.56pm
It would be advice on what to do with an old endowment policy and if it can be used to set up a pension.
Wednesday 21 July 2004 9.19am
My mortgage advisor is a chap called Tony Harris. He runs a company called Contractor Financials. They specialise in mortgages for those working as contractors (i.e. not employees) but they will assist with mortgages for anyone. They have arranged and completed two mortgages for me and at least 3 colleagues have used him and have been pleased.

He's not your normal wide-boy IFA and will get you better rates from lenders than you can get on the high-street. Also, they deal with all the admin' with the lender so you don't have to do the running around yourselves. Like any IFA, they have to earn a fee from somewhere but this is taken from the lender directly and, in my experience, is very fair (as obvioulsy the fee is passed on to you in the cost of the overall mortgage).

His number is 0845 062 8888.

Before anyone asks, I am not related to him and I don't receive any commision for referrals. However, we have an agreement that anyone I send to him who completes a mortgage, he'll make a donation to a charity of my choice. So please let me know if you do use him.

Wednesday 21 July 2004 10.37am
Radiowave - converting an endowment policy into a pension? This is a bit of a tricky one and you will need to speak to someone in detail about this - I'll try and find a contact who can help you.

I think it best to treat this as two seperate issues. In essence, you can't 'convert' an endowment into a pension. However, you can look at cashing in your endowment (not always the best thing) and using the money to put into a pension. The key question here is to ascertain what you're trying to achieve - an endowment would normally be a savings vehicle set up to pay off a mortgage, where a pension is a savings vehicle to give you an income in retirement.

The first thing you need to do is have your endowment valued. The way that endowments are structured (they are awful products that, in my opinion, should never have been allowed to have been sold) is that the majority of charges are 'front-end loaded' which means that cashing in a policy after several years may be counter-productive as charges in the latter years (5 years plus) can be seen as quite reasonable. However, you also need to understand what the endowment is actually investing in eventually - is this in With Profits funds or is it in to Unit Trusts? An expert needs to value the endowment and then see if it's best to just leave it (what is called Paid Up) and leave the investment fund to grow, or just cash it in.

If you do cash the endowment in then you can, if you wish, decide to use this to fund a pension. However, you are limited to how much you can place into a pension fund in any given tax year so if your endowment is for a large amount, you may not be able to put it all into a pension.

I'm not sure if this is any use to you. This is a very complex area so my advice would be to speak to an endowment expert in the first instance. I'll see if I can find one.
Wednesday 21 July 2004 1.10pm
Completely agree with JGarcia.

The main question is why do you want to cash in the Endowment Policy, were you mis-sold, if so go back to the Insurance Company and let them know, you could be in for some compensation.

Otherwise it might be better to sell the policy there are quite a few companies that buy them and you will normally get more for it than cashing in.


To post a message, please log in or register..

Keep up with SE1 news

We have three email newsletters for you to choose from: