Asked on 24 Jun 2020
Financial advisors have more or less tarnished the good name and esteem of the professionalism, because of the hard-selling and lack of proper financial education, among other reasons. Do you have a financial advisor, or multiple ones? What qualities do you seek in your financial advisor, and why? Do credentials matter? Does quality advice matter? What's quality advice? Do you interview your financial advisors? Do share! :)
I talked to multiple advisors from different companies and also multiple IFAs. Basically as you have mentioned, I dont really 'trust' them due to the bad reputation of hard selling for commission etc.
Aside from hard selling, the fact that they represent a certain company, they will be biased to their products. I mean if you work for Company A, you can't tell your customers that your product is bad and tell them to go Company B. Also, sometimes the FA does not have enough knowledge about other products/companies and is unable to give a good comparison. That's where IFA comes into play. They carry multiple product from different companies (except Pru and GE, etc) to provide more options to consumer.
Back to my answer, I choose to talk to multiple agents and FA so that I can eliminate bias-ness as much as possible. Everyone will be biased towards their product but after listening to multiple views, I can decide the best for myself.