Financial Advisor Aberdeen Scotland (AB10): It can be a daunting experience trying to find a good independent financial advisor in Aberdeen, in particular if it is the very first time that you're needing financial advice. However, all professional financial advisors have one thing in common; they must all stick to the regulations set by the FCA (Financial Conduct Authority), regardless of whether you are searching for pensions, investment, mortgage or even insurance guidance. This comes with some guarantees, so after taking advice from a FCA registered financial advisor in Aberdeen, you can seek reparation from the Financial Ombudsman Scheme or the Financial Services Compensation Scheme, if if things go wrong.
Relatives and friends recommendations can be a good starting point in selecting a financial advisor in Aberdeen, but keep in mind that their circumstances might be different to the type of advice you are looking for. Any advice they provide should be tailored to your unique situation, and every financial advisor isn't suitable for everybody. To investigate the various options that they're offering and find a financial advisor you feel comfortable with and can trust, it is a good idea to chat to at least three different firms, because choosing a financial advisor is an important decision.
There are two main kinds of financial advisor in Aberdeen; restricted advisors and independent financial advisors (IFA). Offering a more extensive range of options, an independent financial advisor won't be restricted to a single provider's services or products. Independent financial advice should be provided in an honest and impartial way and across the entire gamut of financial companies and products. Using an IFA should enable you to choose between the broadest possible range of services. A restricted advisor may be tied to products and services from one particular provider, or might even focus on just one product, as can be the case with a mortgage advisor.
Before accepting you as a client, any Aberdeen financial advisor must tell you about their charges, as required by the Financial Conduct Authority. You might be charged a set fee, by the hour or even a percentage of your investment value, determined by kind of services you are looking for. You will sometimes be offered the possibility of a free first consultation to enable you to discuss your goals and find out if the advisor is a good fit for your circumstances. In some of the bigger Aberdeen companies, you may find that your account is being looked after by a team rather than an individual.
You'll have to complete a "Fact Find" document, which is a confidential disclosure form relating your goals and financial situation to the advising company. You should also be handed an Initial Disclosure, or Key Facts Document, which gives you information on the financial advisor, their situation for offering restricted or independent advice and the scope of their permissions in the financial arena. If you are not happy with the service provided, and wish to submit a complaint, this document should also lay out your rights and your options. It should be written in plain English and detail what you are signing up for, and any potential risks and benefits if you elect to accept the advice offered. The level of cooling-off period should also be fully explained in this document. This enables you to cancel your contract within a certain time frame, and if any penalties have to be paid.
The first time you are speaking to the financial advisor you need to check what qualifications and experience they have. After all you are just about to entrust your financial wellbeing to their skill, so you should not be embarrassed about asking these questions. Every Aberdeen financial advisor must be in a position to present an annual Statement of Professional Standing, and must hold at least a Level 4 qualification. When checking the Financial Services Register, you don't need to freak out if your financial advisor's name does not show up on there; you should be able to locate the firm name, and this means that the regulations covers all of their staff. If they are not able to supply this proof, the individual can't offer advice but is permitted to offer financial guidance. Guidance is somewhat different to advice as it is not regulated in the same way, and if financial mistakes occur there will probably be no recourse to the client.
If it is investing money that you're interested in, your advisor will need to know the amount of risk you might be willing to take with your hard-earned money. Higher risk investments may potentially offer higher rewards, but all or some of your money could be lost. In order to get the most beneficial investment and financial advice, your savings goals will need to be considered, i.e. how much capital you want to invest, how rapidly you need access to your money and short or long term investments. One question you should ask of yourself, which is often neglected, is just how much money you can afford to lose. Commonly called your 'capacity for loss', this will very likely influence the services and products that you are offered.
You'll want to tell your financial advisor about any existing mortgages, investments, regular outgoing payments or savings. To ensure that you get the most suitable advice for you, they need a full and clear picture of your finances. Spreading the risk across a number of different products through the diversification of your investments and savings, is something that reliable financial advice should allow for. A qualified financial advisor in Aberdeen will understand the best products to consider, which match your goals and your financial situation.
A financial advisor will reveal the complex world of finance, and try to speak in the clearest possible way. You should be able to come to an informed decision when you have learned about the various products and services which match your needs. If the environment is important to you, you could ask that ethical investment and savings schemes take top priority. This allows you to give your support to organisations and firms which address your concerns, e.g. renewable energy or zero carbon, or perhaps avoiding businesses that do not meet your criteria.
It may prove hard to manage work and other obligations around working closely with your financial advisor in Aberdeen. To enable you to get advice at a time to suit you, one-on-one appointments can be backed up with telephone calls and video conferencing. Working from home and remote working is now so common, and a competent financial advice firm in Aberdeen will have stringent measures in force to ensure your details are kept confidential and secure, even if you hardly ever have a one-on-one meeting with your advisor.
Investments can easily go down as well as up, because the financial world can be unpredictable. If your investment is not making the amount of money you were hoping for, it can be incredibly frustrating and worrying. Regrettably, a downward trend in your investment is not a recognised basis for complaint, except if it's down to incorrect or misleading information from your financial advisor.
As indicated in the Key Facts Document, any disputes should start with the company's official complaints procedure. You can inform the Financial Ombudsman of the issue if it remains unresolved within the time-frame stipulated by the regulating body, and your advisor is registered with the Financial Conduct Authority.
The Financial Ombudsman will independently review the cause of the complaint and make a ruling. If the complaint is found to be justified, a decision will be made on how to rectify the situation or financially compensate the client. Once the decision has been accepted by the client it becomes a legally binding decision that the financial advisor and their company, must comply with. The Financial Ombudsman will also take into consideration any distress, annoyance, trouble and inconvenience caused to the client during the process, and set the level of compensation accordingly.
Financial advice can be provided in Aberdeen and also in: Westhill, Mastrick, Ruthrieston, Altens, Danestone, Woodside, Old Aberdeen, Mannofield, Persley, Kittybrewster, Nigg, Torry, Kairnhill, Kincorth, Kingswells, Milltimber, Hayton, Dyce, Northfield, as well as in these postcodes AB10 1RN, AB10 1PE, AB10 1JQ, AB10 1LU, AB10 1RS, AB10 1UQ, AB10 1WD, AB10 1PU, AB10 1UU, AB10 1AF. Locally based Aberdeen financial advisers will most likely have the postcode AB10 and the phone code 01224. Click on the "enquiry" form or banner to get details about financial advisors in your area.
Aberdeen Financial Advice Services
There are a whole host of services which can be provided by your local Aberdeen financial advisor including ethical investments in Aberdeen, trustee investment services, corporate financial planning, pension consolidation in Aberdeen, investment advice in Aberdeen, personal financial planning, pension transfer advice, portfolio management in Aberdeen, inheritance tax planning, will writing services, cashflow analysis in Aberdeen, investment planning, retirement planning, investment advice, ISA's in Aberdeen, pension reviews in Aberdeen, trusts, investment bonds, annuities, life assurance advice, general financial planning, bridging finance, financial planning in Aberdeen, pension advice, pension drawdowns, and more.
Scotland Financial Advice Enquiries
The latest Scotland financial advice enquiries: Albie and Shanaya Ohara from Carluke, Scotland recently asked for information on investment bonds. Frazer Butterworth and Juliet Butterworth from Avoch, Scotland recently enquired about investment bonds. Mr and Mrs Cox from Glenboig, Scotland recently enquired about investment advice. River Hutchison from Eastriggs recently asked for information on family income benefit. Macey West from Lossiemouth recently asked for information on mortgages. Valentina Symes and Charles Symes from Findhorn, Scotland recently enquired about offshore investments. Yannis and Ella-Grace Crawford from Banff recently asked for information on mortgages. Iris and Terry Chambers from Fallin recently enquired about offshore investments.
The Daily Duties for a Financial Advisor
- Meeting sales and performance targets.
- Working in conjuction with peers to collect market information, trends and statistics.
- Researching financial products and explaining them clearly and simply to clients.
- Keeping detailed records of potential clients and transactions.
- Talking with clients about their plans and finances.
- Providing counselling, consultation and education regarding finances and investments.
- Negotiating with providers of financial products.
- Producing in-depth financial reports.
- Constantly updating customers about their investments.
- Keeping up to date with legislation changes and new financial products.
Necessary Skills to be a Financial Advisor
- Attentive listening skills.
- Excellent skills in verbal communication.
- Effective business management skills for the negotiation of product prices.
- To pay attention to detail and be thorough.
- To have good time management skills.
- To be capable of using a computer and the main software.
- A competent level of numeracy for developing financial plans.
- To have the ability to network and build solid relationships with clients.
- An outstanding knowledge and understanding of economics and accounting relating to financial markets and products.
- The ability to sell services and products.
- Good skills in customer service for determining client requirements.
Financial Advisors Near Aberdeen
Also: Northfield financial advisors, Hayton financial advisors, Old Aberdeen financial advisors, Westhill financial advisors, Woodside financial advisors, Mannofield financial advisors, Kincorth financial advisors, Milltimber financial advisors, Kingswells financial advisors, Altens financial advisors, Mastrick financial advisors, Ruthrieston financial advisors, Kittybrewster financial advisors, Torry financial advisors, Danestone financial advisors, Kairnhill financial advisors, Dyce financial advisors, Nigg financial advisors, Persley and more.
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Financial Advisors Around Aberdeen: Financial advice has recently been provided in these Aberdeen areas and streets - Sunnyside Gardens, Calsayseat Road, Whin Park Place, Hutcheon Low Drive, Long Walk Place, Wales Street, Kingshill Terrace, Girdleness Terrace, Portal Crescent, Rousay Drive, Cruden Crescent, Gairn Road, Canal Street, Rousay Place, Rosehill Crescent, Auldearn Place, Roslin Street, Stronsay Avenue, Gadie Crescent, Frederick Street, Cornhill Drive, Whinhill Gardens, Rennie's Wynd, Queens Avenue, Hill Street, Caperstown Crescent, Hazledene Road, Harlaw Terrace, Middle Row, Queens Gate, as well as these Aberdeen area postcodes: AB10 1RN, AB10 1PE, AB10 1JQ, AB10 1LU, AB10 1RS, AB10 1UQ, AB10 1WD, AB10 1PU, AB10 1UU, AB10 1AF.
If you want local information on Aberdeen, Scotland click here
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Independent financial advisor in AB10 area, telephone code 01224.
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