For complex financial affairs I understand why using a IFA would be a sensible idea , for fairly straightforward finances and investment mainly into equities, I don’t understand why people assume an IFA will do a better job than a spread of tracker funds . With charges a IFA needs to do around 3% better just to be level .
In 8 out of 10 cases I’m not convinced an IFA is really necessary.
Not sure it’s anything like 3%……….
In my case
-IFA manages my SIPP to an agreed risk profile (fairly aggressive)
-I manage my own modest pot of savings to slightly different tactics (some risk free, some very highly risky)
-my other pension pot is very conservative (managed by a former employer)
The IFA is worth the money IMO - not just for pragmatic management of the SIPP (which I could do myself through trackers) but also the absolute maze of options for pension drawdown, tax impact etc. If it was simply investment recommendations I probably wouldn’t bother but the additional advice is imperative