Looking for Independent Financial Advice? You Must Read This

With so much advice out there, how do you know what advice is the best and what is right for you. The truth is no advice can be ranked best. Advice regarding your finance should be based on personal circumstances. After all, we are all unique as are our personal finances. The best advice you can get is to talk to or meet with independent financial advisers. They are best placed to offer whole of market advice across a range of financial matters. Whether its mortgages, equity release, retirements and pension planning or for savings and investments.

Independent financial advisors can range from large national firms to smaller partnerships and sole traders. It is down to your own personal preference, but it’s always advisable to seek a reputable firm through recommendation or referral.

Independent financial advisors are often referred to as IFA’s. IFA’s will often get to know you as a person as well as your finances to gain a better understanding of your wants and needs. This also allows for the opportunity for your chosen IFA to assess your attitude and approach to risk. This can help determine a suitable plan, fund or policy to support your financial objectives.

With the financial markets fluctuating by the day / hour, new products and new services are launched daily. Reputable IFA’s will be closely tuned into the markets and will be best placed to offer the latest advice and guidance in relation to these changes.

When choosing an independent financial adviser, it is advisable to find one that is based within your locale. This can make meetings and document signing a much easier and straight forward process. It’s always nice to put a face to name as well and speak direct to those who are working on your behalf. After all, you are trusting them with some of the most important decisions in your life, so why wouldn’t you want to meet face to face.

It’s important that when information gathering about suitable independent finance specialists to manage your money for you, that you fully understand the charging model in place. Some will opt for low fees or no direct fees on the basis that introducer fees exists on a number of financial products that are payable on a successful client introduction. Other independent financial advisers will opt for a management fee approach i.e. to charge based on advice given and a charge against the sum invested / managed. There are many different charging modes in place across independent financial advisers, but you should ensure you are clear on what this is.

If you are sourcing an IFA then it’s essential you check that the chosen firm are governed by the FSA – Financial Services Authority. The firm’s website or marketing literature should clearly show the FSA number for this to be validated.

In summary, with so many financial options and potential pitfalls out there, source information from a local independent local firm that can tailor your advice to suit you and your requirements.

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