by FLH03 » Thu Mar 23, 2017 10:46 pm
Lessons bitterly learnt - One area to look at with any financial adviser you are meeting now is how they/their organisation deal with the administration, handling, and payout of the pensions, insurances etc post the assured/insured's death.
Sorry to be a bit morbid, but I had an awful time with one of these reputable companies after my father died, he had taken out various pension, life insurance, gift plan schemes with an adviser - very much personal contact and service, tax advice and personal planning for him at the time, doing the right thing he felt for his family, but after he died, his adviser, of a similar generation, had retired and we were left dealing with a central administration centre that was anonymous, difficult, incompetent, if not negligent. You need to understand how your adviser fits in (sales and profit centre and management wise) to any larger organisation, many claim to be independent, but are part of one of the big banking groups.
Lessons bitterly learnt - One area to look at with any financial adviser you are meeting now is how they/their organisation deal with the administration, handling, and payout of the pensions, insurances etc post the assured/insured's death.
Sorry to be a bit morbid, but I had an awful time with one of these reputable companies after my father died, he had taken out various pension, life insurance, gift plan schemes with an adviser - very much personal contact and service, tax advice and personal planning for him at the time, doing the right thing he felt for his family, but after he died, his adviser, of a similar generation, had retired and we were left dealing with a central administration centre that was anonymous, difficult, incompetent, if not negligent. You need to understand how your adviser fits in (sales and profit centre and management wise) to any larger organisation, many claim to be independent, but are part of one of the big banking groups.
