This was the title of a communication written by a chap called “Dr.” Mike Tubbs in his Research Investments newsletter.

Like yours, my family makes a living in this sector so this type of stuff really boils my blood…

He goes on to tell his readers about a recent Which magazine survey covering the price and quality of financial advice in Britain.

Apparently, centre stage in the report are the high fees some IFAs charge for carrying out simple tasks such as giving advice on putting £60,000 into collective investments, such as unit trusts.

Tubbs goes on that clients of the “worst offenders” would have to realise a 7% return in year 1 just to cover the for IFA and fund charges.  He concludes that as the FTSE only rose 12% in 2013 that means fees would have wiped out 58% of the gain.

It gets better, Tubbs has “a strange financial signal” which anticipates “a series of huge stock market rises” which can give “astonishing gains for investors”

http://www.miketubbsresearchinvestments.com/

Pardon my French but what absolute Boll**ks!

So the best advice is no advice?

Or even better the public should take individual stocks advice from various snake oil “doctors” claiming to have found the holy grail of investing!!

I don’t think so, but this is what you will get when you regulate the “golden advisor goose” to the point where you kill it.

Of course the only reason the IFA charges are what they are is due to the shambles or regulation and subsidising useless internet quangos such as the Money Advice Service etc.

Is Tubbs even regulated, I’m not sure? If so how can he get away with recommending no advice on their savings to the unwitting public?

The thing with trust is it evaporates slowly at first then very quickly hence institutions die slowly and then very quickly, that’s why insiders never see major upheavals coming.

Last chance to fill in the FCA survey and join 300+ of your fellow advisory business owners who want to give some ammunition to the parliament we hope can sort this PIGS BREAKFAST out.  Deadline is lunchtime today – click here now: http://www.retiringifa.co.uk/fcacostssurvey.php

Please bullet point and comment below with what you would like to see included in the open letter to Andrew Tyrie at the Treasury Select Committee, all of your points will be included. Let’s hope Tyrie is the man to do something about this mess.