Financial Advisor Banbury Oxfordshire (OX15 and OX16): It can be an intimidating experience trying to locate a reliable independent financial advisor in Banbury, in particular if it is the first time that you are seeking financial advice. Nevertheless, all qualified financial advisors are bound by one simple rule; they must all conform to the regulations laid down by the Financial Conduct Authority, whether you are after mortgage, pensions, investment or even insurance advice. This comes with certain guarantees, therefore after getting advice from a FCA authorised financial advisor in Banbury, you can seek recompense from the Financial Services Compensation Scheme or the Financial Ombudsman Scheme, if anything goes wrong.
When choosing a financial advisor in Banbury, a decent place to start could be friends and neighbours, however you must remember that your situation might not be in line with theirs, and you might be in need of a different sort of advice. Every financial advisor isn't suitable for everybody, and any advice they provide should be personalised to your particular situation. Choosing a financial advisor is an important decision and it is wise to speak to at least 3 different firms so as to check out the various options they offer, and to find one you feel comfortable with and can trust.
There are 2 main types of financial advisor in Banbury; independent financial advisors and restricted advisors. An IFA won't be limited to just one company's services or products. Independent financial advice must be offered in a frank and impartial way and should cover the full spectrum of financial products and companies. This enables you to choose from the widest range of services to match your needs. A restricted financial advisor could be concerned with a single product, such as a mortgage advisor, or be limited to products and services from a particular firm.
Before taking you on as a client, any financial advisor in Banbury must discuss their charges with you, as required by the FCA. You may be charged by the hour, a set fee or possibly even a specific percentage of your investment value, according to product you require. To enable you to discuss your aims and find out if the advisor is the proper choice for your situation, you might be offered the possibility of a free initial consultation. Your account might be handled by a team as opposed to one individual advisor, if you elect to go to one of the larger Banbury companies.
To describe your financial situation and goals to the advising company, you will be asked to fill out a "Fact Find" form, which is a confidential disclosure document. You'll also be given a Key Facts Document, or Initial Disclosure Document, which gives you details of the financial advisor, their situation for offering restricted or independent advice and their range of permissions in the financial sector. Your own rights will also be spelled out in this document, along with the options you can take if you need to make a complaint because you're not happy with the service you are given. It should describe what you are committing yourself to, and any possible risks and benefits that exist should you choose to take the offered advice, and it has to be written in plain English. You'll find the amount of cooling-off period in this document. Within a certain time frame, this permits you to cancel the contract.
The first time you are chatting with your financial advisor you need to check what experience and qualifications they have. Asking these questions should not cause you any embarrassment, because after all you are entrusting them with your financial future. All Banbury financial advisors must as a minimum hold a Level 4 qualification and be in a position to present an annual Statement of Professional Standing. When you check the Financial Services Register, you shouldn't freak out if your particular financial advisor's name doesn't show up on there; you will probably locate the company name, and this means that the legislation covers all of their employees. The individual may still offer financial guidance instead of advice, if these cannot be presented. In terms of finance guidance is somewhat different to advice and is not regulated in the same way. Therefore there isn't any recourse for the client if financial blunders occur.
You will be asked about the level of risk you are willing to take on, if you are seeking advice on investments. Higher rewards may be possible with high risk investments, however you stand a greater chance of losing all or some of your money. Your savings objectives will have to be taken into account if decent investment advice is to be given, i.e. how much you have to invest, short or long term investments and how rapidly you need access to your funds. One question you should ask of yourself, which is normally ignored, is how much you can afford to lose. This is commonly called your 'capacity for loss' and may well affect the products and services that could be offered for your consideration.
Right from the start, it is important to tell your financial advisor about any existing investments, mortgage loans, savings accounts or regular outgoings that you have. They will need this information, so they can get a picture of your finances and give the correct advice for your needs. Diversifying your savings and investments by spreading the risk across different products, is a crucial part of sound financial advice. So as to match your goals and financial situation, a seasoned financial advisor in Banbury will have the knowledge of the best areas to consider.
Communicating in the plainest speech possible, your financial advisor will lay bare the multifaceted world of investment and finance. This will permit you to compare services and products that meet your needs, and make an informed decision. If you are mind is firmly on the environment, you could ask your advisor to stick to ethical investment and savings schemes. This will allow you to give your support to organisations and firms which match your concerns, e.g. green energy or zero carbon, or perhaps staying away from businesses that don't meet your criteria.
Working alongside your financial advisor in Banbury can be tricky to fit in around your work life and other obligations. Face-to-face appointments can be complemented with telephone calls and video conferencing to enable you to seek advice at times that suit you. Even if you rarely have a one-to-one meeting with your advisor, an experienced financial advice firm in Banbury will have stringent measures in force to keep your details confidential and secure, because home and remote working is now so common.
You have to understand that the financial world is an unpredictable sector, and investment values can just as easily drop as well as rise. If it just so happens that your investment is not making the amount of money you were hoping for, it can be a very demoralising and worrying time. However, except if it's owing to misleading or wrong information from your advisor a downward trend in your investment isn't a recognised basis for complaint.
The company's official complaints procedure should be the best place to start with any disputes, and the Key Facts Document will explain this. If the problem remains unsolved within the time set out by the regulating body, and the financial advisor is registered with the Financial Conduct Authority, you can advise the Financial Ombudsman.
After independently reviewing the cause for complaint, the Financial Ombudsman will come to a decision on the issue. A decision will be made on how to rectify or financially compensate the client, if the complaint is justified. Once the ruling is agreed on by the client it becomes a legally binding decision which the advisor and their firm, must comply with. The Financial Ombudsman will also take into consideration any trouble, distress, inconvenience and annoyance caused to the client during the situation, and fix the level of compensation proportionately.
Financial advice can be provided in Banbury and also in nearby places like: Easington, Great Bourton, North Newington, Neithrop, Kings Sutton, Twyford, Grimsbury, Bodicote, Bloxham, Warkworth, Overthorpe, Broughton, Balscote, Hanwell, Drayton, Chacombe, as well as in these postcodes OX16 0BS, OX16 0JP, OX16 0EA, OX16 0JW, OX16 0HT, OX16 0EE, OX16 0FF, OX16 0JX, OX16 0BU, OX15 4BH. Local Banbury financial advisors will likely have the dialling code 01295 and the postcode OX15 and OX16. Click on the "enquiry" banner to get specifics of financial advisors in your area.
Banbury Financial Advice Services
There is a variety of services which are provided by your local Banbury financial advisor including pension drawdowns, long term care fee advice, family income benefit, business planning in Banbury, personal financial planning, trusts in Banbury, income protection, independent financial advice Banbury, annuities, portfolio management, mutual funds, tax financial planning Banbury, annuity purchase, life assurance, ethical investment advice in Banbury, ISA's, corporate financial planning, inheritance tax planning in Banbury, retirement advice, pension transfers, equity release Banbury, financial advice services Banbury, investment planning, corporate bonds, wealth management & investments Banbury, and lots more.
A Financial Advisor's Regular Duties
- Financial advisors work in collaboration with associates to gather trends, market information and statistics.
- Financial advisors research financial products and explain them simply and clearly to their clients.
- Financial advisors keep up to date with new financial products and law changes.
- Financial advisors keep detailed records of potential transactions and clients.
- Financial advisors speak to customers regarding their plans and finances.
- Financial advisors produce comprehensive financial reports.
- Financial advisors meet targets for sales and performance.
- Financial advisors provide counselling, education and consultation with regards to finances and investments.
- Financial advisors update clients concerning their investments.
- Financial advisors make advantageous deals with with providers of financial products.
Financial Advisors Near Banbury
Also: Overthorpe financial advisors, Bodicote financial advisors, North Newington financial advisors, Neithrop financial advisors, Great Bourton financial advisors, Balscote financial advisors, Bloxham financial advisors, Kings Sutton financial advisors, Chacombe financial advisors, Grimsbury financial advisors, Warkworth financial advisors, Hanwell financial advisors and more.
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Financial Advisors Around Banbury: Financial advice has recently been given in these Banbury roads and streets - Stone Hill, The Bourne, Daventry Road, Arbury Close, Adderbury Court, Drury Lane, Badger Way, Brantwood Rise, Station Approach, Dashwood Road, Austins Way, Bean Furlong, Denchfield Road, Summer Ley, Sulgrave Road, Beaumont Road, Sideleigh Road, The Crescent, Addison Road, The Wisterias, Briggs Close, Bennett Close, Stanwell Lea, Balmoral Avenue, Thenford Road, Banbury Hill, Aynhoe Park, Beaconsfield Road, Devon Way, Tanners Lane, as well as the following local Banbury postcodes: OX16 0BS, OX16 0JP, OX16 0EA, OX16 0JW, OX16 0HT, OX16 0EE, OX16 0FF, OX16 0JX, OX16 0BU, OX15 4BH.
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Independent financial advisor in OX15 and OX16 area, telephone code 01295.
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