Falkor Posted March 12, 2010 Share Posted March 12, 2010 Hi all! I am currently working on a project at work (National Independent Financial Advisers) that requires me to come up with Q&A's that "the man off the street" would ask a financial adviser. As I work in this industry I am finding that I am coming up with the questions that I think the client "should" be asking rather than the ones that they probably will ask. SO any input that you lovely Omleteers can offer would be greatly appreciated! The product areas that i am covering are: Mortgages Protection - Life Assurance, Income Protection, Home Insurace, Car and Pet etc Savings & Investment- ISA, for children, Bonds etc Retirement - Pensions (company and personal), Drawdown, Annuity Wills and Estate Planning - Wills, Lasting power of attorney, Inhertiance Tax, Long Term Care Just fire them at me! HUGE thanks in advance Quote Link to comment Share on other sites More sharing options...
Olly Posted March 12, 2010 Share Posted March 12, 2010 Pensions! What I want to know is: how much money am I going to have at retirement? how much do I need to live on? what's the best way to make up the (likely) shortfall between the two? I've currently got my paperwork with an IFA who happens to be the husband of a friend, and that's what I'm asking him. Quote Link to comment Share on other sites More sharing options...
Cooks Posted March 12, 2010 Share Posted March 12, 2010 Life Assurance: Should I cover my life assurance for the amount of my mortgage and duration of my mortgage or just cover for a large sum for a long duration? Quote Link to comment Share on other sites More sharing options...
Chucky1 Posted March 12, 2010 Share Posted March 12, 2010 How much will the IFA charge me? How much commission will the IFA be paid for each of the products they are recommending? Quote Link to comment Share on other sites More sharing options...
Chicken Licken Posted March 12, 2010 Share Posted March 12, 2010 Which is the best way to save for retirement? AVCs or ISA? (on top of work pension scheme and state pension) How much should I be saving a month now for the future? Fixed rate mortgage or tracker? What is the best way to get the best deal? How often should I review Critical Illness/ Life assurance policies that accompany my mortgage I am a financial numpty - all of the numbers stuff scares me and I am embarassed by my complete lack of understanding. I think just start at the very beginning and keep it simple all of the jargon puts me off and the fact that I know I don't understand it means I ignore it and hope one day someone will make it all clear and I will understand!!! (Last saw a financial adviser about 12 years ago!!!) Quote Link to comment Share on other sites More sharing options...
Lewis Posted March 12, 2010 Share Posted March 12, 2010 I'd probably ask about Uni money + stundent finance Whats the best type of account to have while at Uni? How is best to save before (and during) studying and then after Uni? Quote Link to comment Share on other sites More sharing options...
Falkor Posted March 12, 2010 Author Share Posted March 12, 2010 This is all great...I knew I could come to you lot and you would assist me!! Virtual hugs and chocolate thanks to you all! Keep them coming! Quote Link to comment Share on other sites More sharing options...
Cooks Posted March 12, 2010 Share Posted March 12, 2010 Wills How often is it advised to update your Will? Quote Link to comment Share on other sites More sharing options...
sadietoo Posted March 12, 2010 Share Posted March 12, 2010 Sorry but you did ask... What can you offer me other than a pension..I already have made maximum contributions and my income is such that any pension I receive will be liable to higher rate tax? What can I do about the restriction in higher rate tax for relief on my pension premiums I'm a top earner? What are your charges for adminstering estates...many solicitors now work on a charges for time spent only basis? Can you explain how an EFURBS might help me??? I hasten to add these are none of things that apply to me they are just the questions we get asked by clients..and often I have to say..what does your IFA say?????!!! Quote Link to comment Share on other sites More sharing options...
Falkor Posted March 12, 2010 Author Share Posted March 12, 2010 oooooohhh Can I ask what you do please? Quote Link to comment Share on other sites More sharing options...
sadietoo Posted March 12, 2010 Share Posted March 12, 2010 oooooohhh Can I ask what you do please? Create problems for IFAs? I work for an accountant and deal with Hinwis ~Sorry wasn't really fair was it.? not really the questions that are likely to be asked by the man on the Clapham Omnibus..but actually there is a lot of interest in these things..and I think a gap in the market........x Quote Link to comment Share on other sites More sharing options...
Falkor Posted March 12, 2010 Author Share Posted March 12, 2010 oooooohhh Can I ask what you do please? Create problems for IFAs? I work for an accountant and deal with Hinwis ~Sorry wasn't really fair was it.? not really the questions that are likely to be asked by the man on the Clapham Omnibus..but actually there is a lot of interest in these things..and I think a gap in the market........x These are great! We want man on the street questions and these are the kind of questions that a Higher tax band man on the street will ask so big thanks. Quote Link to comment Share on other sites More sharing options...
chick wiggle Posted March 14, 2010 Share Posted March 14, 2010 Hi Em? are you still wanting questions? My OH has one about pensions if you can help? Its about the closing of a final salary pension scheme. Quote Link to comment Share on other sites More sharing options...
Falkor Posted March 15, 2010 Author Share Posted March 15, 2010 Oooh yes please! Quote Link to comment Share on other sites More sharing options...
Daphne Posted March 15, 2010 Share Posted March 15, 2010 How can I minimise the inheritance tax burden for my heirs? Whats the difference between joint tenants and tenants in common for mortgage (tenants?? is that the right phrase - you know what I mean!) Where would you recommend I went for specialist IHT tax planning advice? Tell me about the rules about when I have to pay for personal and health care/Tell me about attendance allowance and anything else I might be entitled to claim (these may be out of scope for you) so maybe a better question would be How would you advise me to plan for care in my old age, or should I trust to the State? Quote Link to comment Share on other sites More sharing options...
Busybird Posted March 15, 2010 Share Posted March 15, 2010 Pensions Is there flexibility over my retirement age - effect on investment if I retire early / late. Can I take a lump sum as well as buy an annuity. Best way to save for retirement without locking it into a pension. Savings Best way to save for children's uni eduacation. Is there a tax burden either way if quite a lot of money is just gifted to children in my lifetime. Inheritance Best way to pass on assets to children while alive to minimise tax at death Quote Link to comment Share on other sites More sharing options...
Olly Posted March 15, 2010 Share Posted March 15, 2010 Is it better to use any spare money now to reduce my mortgage, or would it be better to invest it or put it towards my pension? Should I have contracted out of SERPS/should I contract back in? Is it worth carrying on with my endowment policy or would I be better to cash it in? Quote Link to comment Share on other sites More sharing options...
