First principles of investing

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19. Do you need an adviser?

Several professional and trade bodies offer directories which allow you to search for the right type of independent adviser by area, qualification, specialisation and fee rate:

• The Association of Private Client Investment Managers and Stockbrokers: Many of APCIMS' members provide a full financial planning service. www.apcims.co.uk
• The Society of Financial Advisers Use the 'Find an Adviser' service on www.sofa.org
• The Institute of Financial Planning: A multi-disciplinary organisation with a register of fee based planners. www.financialplanning.org.uk
• The Institute of Chartered Accountants in England & Wales: Many accountants offer a full financial planning service: www.icaew.co.uk
• Solicitors for Independent Financial Advice (SIFA): Look at: www.sifa.co.uk
• The Association of Solicitor Investment Managers (ASIM): www.asim.org.uk
• Local independent firms: For a list of three local independent advisers, contact IFA Promotion on www. unbiased.co.uk. For fee-based independent advisers contact the Money Management Register on 0870 013 1925.

  1. Five steps to establish your investment goals 2. Your attitude to risk and reward 3. The major asset classes 4. Which type of manager? 5. Your investment assessment kit 6. Is past performance a guide to the future? 7. Easy access deposits for emergencies 8. Fixed income products 9. A rising income 10. The choice of collective equity funds 11. Pensions and ISAs 12. Tax efficient but may be very risky 13. Selecting your shares 14. Your stockbroker 15. Buying your shares 16. Ethical Investment 17. When to sell 18. How to keep your portfolio on track 19. Do you need an adviser? 20. Conclusion

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