How A Qualified Financial Advisor Can Help You
ď‚ž Financial
advisers, as the designation suggests, give you advice and guidance on complicated financial matters.
ď‚ž They
can give you suggestions and recommendations that will help you invest your hard earned money wisely.
ď‚ž They
are well informed about different financial products and can help you choose what is best for you
ď‚ž The
adviser will spend some time with you as he/she tries to understand what your needs are. They will ask you about your finances, goals and attitude to risk.
ď‚ž Depending
on this data provided by you, they will tell you their charges or fees for the service.
ď‚ž Then
they will recommend suitable products to you, followed by a full financial plan, and tax benefits available to you.
If
you are happy with their suggestions or recommendations, they will implement the plan for you.
You
will get yearly reviews from them, too. You many end up losing your money if you don’t get the right guidance.
ď‚ž According
to your needs, you can choose a financial advisor specialised in various products. There are advisers specialised in selling pension schemes and mortgage.
ď‚ž Some
are specialised in investment advice to individuals. Some give advice on all these as well as guide you on insurance and saving plans.
ď‚ž There
are independent financial advisers (IFAs) as well as tied and multi-tied financial advisors.
ď‚ž Those
who work for a particular organisation is known as tied financial advisors. They will be selling only that organisations products and nothing else.
ď‚ž They
will be attached to an insurance company, investment firms, banks or financial services company.
ď‚ž Those
who sell products of more than one company are called multi-tied advisers. Like tied advisers, they too can be working for insurance companies, banks etc. They can also be self-employed.
ď‚ž Same
is the case with IFAs. They sell any product from any company, and provide the best advice.
ď‚ž An
advantage is that, since they are regulated by FCA you can complain against them to the Financial Ombudsman Service if you are not happy with their advice.
They
are qualified to give advice based on the client’s requirements.
They
will review your financial backgrounds, current position and future gains. They will give you financial strategies based on your requirement.
They
will also inform you about all the new products and services.
ď‚ž You
can take a decision weighing all the pros and cons of the product. Basically they educate you about various products, which will enable you to invest wisely.
ď‚ž They
will help you manage your personal finance cleverly. Since they are up to date with financial products and legislation, they can give you the best advice.
ď‚ž They
also do a lot of research on providers and financial products, which help you to get the best deals.
ď‚ž They
will also be aware of new financial products as well as changes in the legislation on savings and investments.
ď‚ž You
need the help of a financial advisor for complex products like pensions and investments. To get the most benefits from the policies you need their advice.
ď‚ž Visit
Manning Financial, the leading financial advisor in Cork, Ireland. They provide expert financial planning services.