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Legal & money

Financial Advisor

(6 Posts)
TATT Sun 12-Jul-20 13:23:18

I was very sorry to hear that my financial advisor died a few months ago. May I say at the outset that I have every sympathy for their family. It must have been awful for them not being able to be together.
As yet I have had no ‘official’ notification of their passing and I am wondering what to do. The money I have invested is held by a company and as far as I can see, my advisor was a ‘middleman’ between them. We always had an annual review of things and this is now overdue, but other than that, I’m not sure what else the advisor’s duties involved. I’m reluctant to contact anyone, as I don’t want to cause any further distress to the family, but that said, I am worried.
Can anyone tell me whether I need a financial advisor, please or might I be able to deal with the company directly? Also, should I expect to hear anything from my advisor’s family letting me know what is happening?
Thank you.

Oopsadaisy3 Sun 12-Jul-20 13:54:01

Contact the Company and see if they will deal with you directly, we used to have an FT and he was rubbish, so although we were able to deal with the Company’s directly they still sent him our details and he still received his commission.
If the Company won’t deal directly with you then you have to contact the FTs family direct, I assume that he was Self Employed and they must either have provision for someone else to carry on the business or they will have contacted the Company you have investments in to tell them to deal with you direct.

Oopsadaisy3 Sun 12-Jul-20 13:55:10

Sorry, far too many ‘directs’ in that post

TATT Sun 12-Jul-20 21:30:24

Thank you Oopsadaisy3
It’s all very sad.

newnanny Mon 13-Jul-20 01:08:01

Are you saying that you do know or do not know which company your funds are invested in? If your review is overdue I would write to FA family and ask for Teams meeting for your review. If he was self employed and working alone his family might not know about his work. A very tricky situation. All I can think is to contact another FA to sort it out got you. You will need to get a new one now anyway.

TATT Mon 13-Jul-20 13:14:37

Thanks, newnanny
I do know where the money is, yes but was wondering how the advisor interacted with them. The advisor’s partner worked as the admin assistant in the office, so they should know what is happening.
It cost a lot of money to set things up and I would have to pay out again if/when I go to a new advisor. The money is some equity from my last property (I downsized) and some of the lump sum I got when I took my pension. I’m never going to add to the money, so I want to be careful. I’ll try and contact the company that has the money.