Financial advisors near me

Preserving wealth down the generations needs a multi-faceted approach, requiring expertise from a range of areas including legal, financial and taxation. On the financial side it can often seem bewildering. Not just in terms of  the complexities and financial jargon, but also which financial advisor to choose for your own personal circumstances. There are different types of advisor and each will specialise in specific areas, for example retirement planning, and each will have different qualifications and experience. So how do I look for financial advisors in my area, and how can I decide which advisor to choose?

The Financial Conduct Authority (FCA) splits financial advisors into two main types:

  • Independent advisers, who offer a broad range of financial products and providers.
  • Restricted advisers, who will generally focus on a limited selection of products and/or providers.

Both types of financial advisor are required to pass the same qualifications and meet the same requirements to ensure they are providing suitable advice. In addition, a financial advisor must tell you in writing whether they offer independent or restricted advice.

Why use a financial advisor?

A financial advisor can help with life’s important decisions, providing you with security and peace of mind in areas such as:

  • Pensions & Retirement
  • Investments
  • Savings & ISAs
  • Tax Planning
  • Insurances
  • Financial Planning
  • Long-term Care

How much does it cost?

Most advisors offer an initial, no-obligation meeting and so you can discuss your requirements without incurring any cost at the first meeting. You will only incur a cost if you decide to proceed and the advisor is required to inform you how much the advice will cost. You will also have the right to change your mind about taking out a financial product and the advisor will tell you how long you have in which to do this.

Advisors usually offer a number of charging options:

  • An hourly rate
  • A fixed fee according to the work involved
  • A monthly retainer
  • A percentage of the money invested

 

financial advisors near me