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Meeting with a QFA?

  • 01-02-2017 10:54pm
    #1
    More Music
    Registered Users, Registered Users 2 Posts: 873 ✭✭✭


    Hi,

    I'm thinking of meeting with a QFA soon just to give a look over things. Have a questions that have I've been thinking about for a while; Should I put more into mortage/pension etc.? Use savings to pay off any loans? I suppose that's all standard stuff.

    What should I bring to a meeting?
    What should I expect - just advice on the day or some form of report?
    How much approx. would a one to one meeting cost?

    Any info appreciated.


Comments

  • #2
    rahenyrover
    Registered Users, Registered Users 2 Posts: 222 ✭✭rahenyrover


    My advice, don't pay anybody for that advice initially. Make an appointment in your local bank. All the questions you mention are straightforward to run through. If after that initial meeting you need/want more specialist advice then perhaps seek out an independent advisor.


  • #3
    coylemj
    Registered Users, Registered Users 2 Posts: 25,476 ✭✭✭✭coylemj


    rahenyrover wrote: »
    My advice, don't pay anybody for that advice initially. Make an appointment in your local bank.

    That's terrible advice. Last time my bank invited me in for a free 'financial consultation', the whole thing was simply a setup to meet one of their sales guys who went through the motions of discussing my requirements but it soon became clear that all he wanted to do was sell me critical illness cover which I didn't even need as my employer has an excellent disability scheme.

    The people who give proper independent advice charge for it.


  • #4
    Atlantic Dawn
    Registered Users, Registered Users 2 Posts: 83,052 ✭✭✭✭Atlantic Dawn
    M


    What should I bring to a meeting?
    Try to have figures on your salary, and that of your partners if you have one, what's left on your mortgage or any outgoing loans you have. Have totals on any existing pension or protection products you currently have. Have figures on what your outgoing expenses are, eg utility bills, entertainment and general expenses for a month so they can calculate what your affordability is.


    What should I expect - just advice on the day or some form of report?
    Depending on their setup they will normally give you a suitability statement there and then on products they recommend going on your needs.


    How much approx. would a one to one meeting cost?
    Some are free some are not, they will earn commission from the sales of the products you agree to take out.


  • #5
    skippy2
    Registered Users, Registered Users 2 Posts: 393 ✭✭skippy2


    How much approx. would a one to one meeting cost?
    Some are free some are not, they will earn commission from the sales of the products you agree to take out. .........

    In this case you should seek an Independant QFA who does not work on a commission basis from products they sell...........not much point in going to see someone who has self interest in selling a companies products


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