Free financial advice - does it exist?

[Brahan]

There may be a screamingly obvious answer, BUT, is there such a thing as free impartial advice on financial matters? I mean, is there any organisation with real life business acumen that can give me impartial advice on what's best for ME, opposed to what will just serve as another layer to their pockets?

 

[Yellow Fang]

There's Moneybox on the radio.
There are various magazines, the most famous of which is Which. They're not free, but not expensive (comparatively speaking).
Otherwise, I dare say you either have to pay for independent advice, or get 'free' advice from from advisers on a commission, or not get professional advice at all.

 

[sheddy]

No idea but you might want to have a look first at the Motley Fool website or maybe take a peek at the Which Magazine at the library.

 

[slowmotion]

IFAs on commision who say they are giving free advice are really whores pretending to be your lover. Simple.

 

[snorri]

Otherwise, I dare say you either have to pay for independent advice, or get 'free' advice from from advisers on a commission, or not get professional advice at all.

There are few topics in this world on which you will not get free advice if you just ask your fellow forumites on CC

 

[snorri]

, is there such a thing as free impartial advice on financial matters?

You could try your local Citizens Advice Bureau* in the first instance, but if the advice you seek is in connection with a matter likely to affect your lifestyle in the longer term then you would be advised to get expert guidance for which you should be prepared to pay.
*See Phone Book (not Yellow pages) for your nearest branch

 

[swee'pea99]

Spend it on drink.

No charge.

 

[Davywalnuts]

Get me drunk and ill tell you everything you need to know.. for free...

 

[Wobblers]

Get me drunk and ill tell you everything you need to know.. for free...

A lifetime of penury beckons if you follow that piece of advice ...

 

[Wobblers]

If you want financial advice for free, possibly the best thing you can do is educate yourself on all matters financial. All the broadsheets do a very good money section at the weekends, and are an excellent place to start. Websites like the Motley Fool are also good.

If you do need financial advice, it's (usually) better to pay for it so that the adviser's giving you the best advice rather than the best commission for themselves.

 

[PK99]

There may be a screamingly obvious answer, BUT, is there such a thing as free impartial advice on financial matters? I mean, is there any organisation with real life business acumen that can give me impartial advice on what's best for ME, opposed to what will just serve as another layer to their pockets?

If you are in doodoo - Citizens advice etc would then be available to get you out of the doodoo

If you are not in the doodoo, and want to know where best to invest your money or which life insurance policy best suits you, why would you expect free financial advice from any professional?

Is there free impartial advice available about anything?

 

[Drago]

Financial advice is a crock. If they're so hot on the subject then why they working as financial advisors?

 

[ASC1951]

I mean, is there any organisation with real life business acumen that can give me impartial advice on what's best for ME, opposed to what will just serve as another layer to their pockets?

No. Why would you expect that there should be? Do you turn out every day for nothing?

If you resent people 'lining their pockets' at your expense, why not learn about financial products yourself? It isn't intellectually challenging, but it does take time and discipline - like pretty much anything worth knowing.

 

[srw]

Be aware that any "free" advice service is unlikely to be able to respond to your specific circumstances. So unless your affairs are pure vanilla (and few people's are) you're going to need to do some work - or pay for it.

 

[ASC1951]

Yes. Try http://www.moneyadviceservice.org.uk
Free pensions advice through http://www.pensionsadvisoryservice.org.uk

Fair point. But those are both generic sites - at some stage you have to apply them to your own particular circumstances, which means you have to acquire some detailed knowledge yourself or pay someone who has.

I suspect, too, that what Brahan wants is investment advice. I really wouldn't trust anyone else with that for myself, because you definitely can't get free and impartial advice there; and unless you pay a lot for it, the level of expertise is unimpressive; sometimes unimpressive even if you pay a lot for it.

[Ah. SRW has just made the same point.]