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We clarify,
distinguish and reveal benefits and disadvantages of financial advice
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We clarify your financial advice alternatives as the consequence of choosing the
wrong type of financial adviser will prevent the best use of your cash. The financial watchdog puts this into
perspective by expressing concern that as many as 36,000 people from a Wembley
crowd of 90,000 only consider one financial product before buying. Visit
their website and read where they urge the public to consider expert advice and
use an authorised independent financial adviser who will be able to help and
advise on financial products from a range of different companies.
To help
you make an informed choice, we explain all your options with respective
benefits and disadvantages of each as a financial advice options platform from
which to select and achieve good money management. To make the best use of your
cash requires all consumer needs to be identified, considered and supported by
sound up-to-date impartial advice on all financial products available from the
entire market place.
As
independent financial advisers we use independent financial planning techniques
and conduct a detailed survey of the client’s financial position, preferences
and objectives. After thoroughly
researching the whole financial market, we then advise appropriate action to
meet these objectives; and if necessary or appropriate, we recommend the most
suitable monetary products to match the need of every client.
The prime
purpose of our financial services role is to provide reliable independent money
advice. We do not sell monetary products. Instead, the financial means and
tolerance to risk of each client is assessed. We then search and identify those
financial products from the whole market that are suitable. The benefit of
using an independent financial adviser ensures you get the right financial
product for your needs. We are the only type of financial advisers who are able
to select from all financial products in the entire market place.
The
meaning of independent as applied in the financial sense is paramount. All
independent financial advisers act with complete freedom without the constraint
of being commercially tied or influenced to recommend any particular financial
products. This benefits consumers as our proposals are based purely on monetary
product suitability alone without any restrictions.
Your alternatives are known as tied advisers or multi tied
advisers. By definition they are linked to commercial financial product
organisations such as banks, building societies and insurance companies etc;
and are commercially tied to sell the products of the company who employs them.
The client is at a disadvantage as the vast majority of monetary products on
the market are not available to them from tied advisers.
Plainly this is
not a like with like comparison since the purposes and benefits differ. However, these are your alternatives, the
differences being apparent when comparing what is actually done by each type of
adviser.
Independent
financial advisers give financial advice as a service on all monetary
products. In contrast, tied advisers
are salesmen for the relatively few products from their employer’s that they
have an agreement to sell. You will lose the benefit of having the most
suitable product selected to meet your needs for the reason that most financial
products are excluded from you with tied advisers.
Our
analysis of all available financial products will include those monetary
products sold by tied advisers too. So you have everything to gain and nothing
to lose by contacting as independent financial adviser.
Distinguish or tell between your financial advice options is straightforward enough once being
aware that there are important differences that need to be set apart. The alert signal that should trigger the necessity to make a distinction
is the word ‘advisers’. Especially so prior to first contact or shortly after
any discussion has begun. In so doing, you benefit by keeping all your options
open and preserve the advantage of making the best use of your cash. So what are the essential differences that
set ‘advisers’ apart.
Here’s how
you make out the differences from the three
alternative options available. There are independent financial advisers [like
us], tied advisers or multi-tied advisers. They are not like with like comparisons
as tied and multi- tied advisers are salesmen for particular monetary products.
In contrast independent financial advisers truly do what their name implies -
that is to give advice.
Independent Financial Advisers [like us] have complete freedom to act without
being commercially tied or influenced to recommend any of the financial
products on the UK market. We offer sound up-to-date unbiased financial advice
to individuals or businesses and recommend only suitable products based upon
established client requirements chosen from the whole of the market. We are
also obliged to give written reasons for our proposals.
Tied
advisers sell financial products from the one company that employs them. They
work for banks, building societies or Insurance Companies.
Multi-tied advisers sell other than one monetary product since they can be tied to
separate employers each having different products.
Independent
financial advisers do not have financial products that they offer for sale to the
public. Instead they offer reliable
advice and a service that clarifies client need with eventual suitability
matching from all market products.
Importantly the eventual selected product is mentioned at the conclusion
of the search process.
Contrast
this with tied and multi-tied advisers whose characteristic feature is their
commercial prominence in television and newspaper advertisements that state
named financial products for sale. We
pinpoint sales promotion campaigns and the focus on the sale of particular financial
products as the ultimate factor to distinguish tied and multi-tied advisers
from even-handed advice and independent financial advisers.
You may
prefer to choose a tied product whose name happens to be familiar or perhaps
one that has been recommended. If so you should be aware that tied products
form a minor proportion of the total products available to you. Consumers who
choose tied advisers will lose the benefit of having the whole financial market
examined for suitable products. This is a major disadvantage and a missed
opportunity to make the best us of your money.
Notably, Independent Financial
Advisers really do advise, whereas tied advisers, as salesmen, offer their employers’ financial
products for sale instead. The
distinction is between services that can optimise your cash as opposed to sales
of particular products that may not be best suited to your needs.
For example, you may not need the product that the tied adviser has for sale.
The consequence being that you buy what you don’t need without discovering what
you really do need. Refer back
to the concerns and authoritative advice of the financial watchdog earlier on
this page.
It is our duty to help you by identifying your needs
and match these to the most suitable financial products from the whole UK
market place. Since we examine all
available products you will gain from our searches as they are inclusive of
those products sold by tied advisers too.
Our experience in the financial industry helps us to achieve the best
solution for every client. Briefly, our working lifetime has spanned 25 wide-ranging
years in financial services. Initially working in a major bank followed by a
period in a solicitors practice. The
last 17 years as qualified independent financial advisers has increased our
responsibilities and given a more complete exposure to other financial
situations across-the-board.
We enjoy
this role because of the variety of duties, responsibility, continued learning
and the job satisfaction we get from helping the people who become our
customers. In particular, we are proud of good relationships stemming from
mutual respect and the trust and confidence our clients have in us.
We are aware that some consumers tend to hesitate to seek advice
as they may not be accustomed to the presence of ‘financial people’ or familiar
with the jargon used by some of them.
This is only natural, so rest assured that we use plain language and
talking with us will be like being with a family member or friend.
We visit clients
more often than not, who are then
able talk to us in familiar surroundings from the comfort of their homes. This
helps us to discover key points about your requirements. Clients living in
isolated rural surroundings, without their own transport or bus service find
this invaluable. Also, we can talk to
others on your behalf, such as solicitors, estate agents or accountants. If
necessary we can accompany and represent you at their offices.
The specific consultation skills in our repertoire include -
wealth management, assets protection, health insurance, retirement planning,
portfolio planning, taxation, discretionary fund management, inheritance tax
planning, investment bonds, national savings, ISA’s, education fees planning,
personal pension plans, equity release, fixed interest, commercial property and
life insurance. We are equipped to give independent financial advice on an
integrated combination of these financial services as your overall financial
plan.
We operate in Lincolnshire and Yorkshire from an office base in North Lincolnshire, near
Brigg. We cover a wide area covering some key towns including Hull, Grimsby,
Scunthorpe, Gainsborough, Lincoln, Harrogate, Leeds, York, Skipton, Wetherby,
Sheffield, Market Rasen and Caistor.
Please remember that we really do listen
and look forward to meeting you during 2008.
To benefit from specific financial advice to suit your needs - send
Email to: advice@independent-financial-planning.co.uk
External links about financial matters
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Independent Financial Adviser [ IFA] |
Authorised and regulated by the Financial Services Authority