Financial Advisor Bangor Northern Ireland (BT19): Finding a decent financial advisor advisor in Bangor can be a daunting experience, especially if you're seeking financial advice for the first time. Whether you are searching for mortgage, investment, pension or even insurance guidance, all financial advisors have one thing in common; they all have to stick to the regulations set by the Financial Conduct Authority. This comes with various guarantees, therefore after taking advice from a FCA authorised financial advisor in Bangor, you can seek reparation from the Financial Ombudsman or the Financial Services Compensation Scheme, if if things go awry.
A decent starting point when choosing a financial advisor in Bangor can be friends and relatives, but bear in mind that the sort of advice you're looking for might be different to theirs. Financial advice must be specifically tailored to your particular situation, and you will discover that certain financial advisors may not be appropriate for you. Choosing the right financial advisor is vital and it pays to speak to at least three different companies in order to investigate the various options they provide, and to find one that you can trust and feel at ease with.
When you are looking to pick a financial advisor in Bangor, there are essentially 2 principal types; restricted advisors and independent financial advisors. An IFA won't be restricted to just one provider's products or services. Independent financial advice should be provided in an unbiased way and should cover the full spectrum of financial companies and products. This will allow you to choose from the widest possible range of services to suit your needs. A restricted advisor might be limited to products and services from a single company, or might even concentrate on a particular product, as you might find with a mortgage advisor.
Before accepting you as a client, any financial advisor must tell you about their charges, as required by the FCA. Determined by the product you're interested in, you could be charged a set fee, by the hour or possibly even a percentage of your investment value. A free preliminary consultation will sometimes be offered, so you can discuss your goals and situation to determine whether the advisor is the right fit. Your account might be looked after by a team rather than a single advisor, if you decide to go with one of the bigger Bangor companies.
You will be required to fill out a "Fact Find" document, which is a confidential disclosure form relating your financial situation and objectives to the advising company. A Key Facts Document, or Initial Disclosure Document will also be given to you, providing information on the financial advisors themselves, explaining their range of permissions in the financial sector and their status to offer independent or restricted advice. Your legal rights should also be spelled out in this document, along with the options you can take if you want to submit a complaint because you are not happy with the service you are given. It has to be simple to understand, written in plain English, and outline exactly what you are signing up for, along with the benefits and risks of taking the proffered advice. You'll find the amount of cooling-off period in this document. This permits you to change your mind within a specific number of days, and cancel the contract with your financial advisor.
Make sure you check the experience and qualifications of your financial advisor the first time you talk to them. After all you are about to entrust your long-term financial wellbeing to their skill, so you should never be embarrassed about asking these questions. All financial advisors in Bangor must hold at least a Level 4 qualification and be able to present an annual Statement of Professional Standing. When checking the Financial Services Register, don't panic if your particular advisor's name does not show up on there; you ought to be able to locate the company name, and this means that the legislation covers all of their employees. If they are not able to supply this proof, the person cannot offer advice but is allowed to offer financial guidance. In terms of finance guidance is somewhat different to advice and isn't regulated. Therefore there's no recourse for the client if errors arise.
If you are looking for advice on investing money you will be asked the amount of risk you're willing and able to accept. Larger rewards could be possible with higher risk investments, but you could also lose some or all of your capital. Your savings goals will need to be taken into account if decent investment and financial advice is to be given, i.e. short or long term investments, how quickly you need access to your money and how much money you want to invest. You should always ask yourself the one crucial question, how much can you afford to lose. This may well affect the products and services that you're offered, and is commonly called your 'capacity for loss'.
Right from the start, it's important to let your financial advisor know about any investments, mortgage loans, personal savings or regular outgoing payments that you have. This will give a clear and full picture of your current financial situation, and without this the advice given will most likely not be the best for you. Good quality financial advice should allow for diversifying your investments and savings by spreading the risk across various different products. A seasoned financial advisor in Bangor will have the knowledge of the best products to consider, which mirror your goals and your financial situation.
A financial advisor will unmask the complex world of finance, and communicate in as plain a speech as possible. You should be able to come to an informed and considered decision when you have learned about the various products and services which match your needs. You can ask your advisor to only include ethical savings and investments. You will then be able to avoid businesses that firms meet your requirements, and instead lend your support to those enterprises and companies that address your concerns, for example green energy or zero carbon.
Establishing a close working relationship with your financial advisor in Bangor could create problems with your work and other responsibilities. One-on-one appointments can be backed up with phone calls and video conferencing to enable you to get advice at times that suit you. A professional financial advice firm in Bangor will have rigorous measures in force to ensure your details are kept confidential and secure, even if you hardly ever have a one-to-one meeting with your advisor, because home and remote working is no longer unusual.
Investments can be an unpredictable area, and values can go down as well as up. If it just so happens that your investment is not making the amount of money you were hoping for, it can be an extremely stressful and demoralising time. Sadly, a downward spiral in your investment is not seen as a basis for complaint, unless of course it's because of misleading or incorrect information from your financial advisor.
The company's official complaints procedure should be the best place to start with any grievances, and the Key Facts Document will discuss this. You can let the Financial Ombudsman know about the problem if it remains unresolved within the period set by the regulating authority, and the advisor is a member of the Financial Conduct Authority.
After looking into the cause of the complaint, the Financial Ombudsman will make a ruling on the issue. If the complaint is upheld, a decision is made on how to rectify the situation or financially compensate the customer. This becomes a legally binding decision as soon as it has been accepted by the customer, and the financial advisor and their company must abide by the decision. Any compensation fixed by the Financial Ombudsman will also take into consideration any distress, inconvenience, trouble and upset caused to the customer during the process.
Financial advice can be provided in Bangor and also in nearby places like: Beaumaris, Llanllechid, Abergwyngregyn, Bethel, Tal-y-bont, Port Penryn, Caernarfon, Bethesda, Tregarth, Llanfairfechan, Anglesey, Llandygai, Menai Bridge, Llanberis, Llandegfan, and in these postcodes BT19 1QA, BT19 1BW, BT19 1AL, BT19 1FG, BT19 1HA, BT19 1HX, BT19 1AE, BT19 1BH, BT19 1FH, BT19 1EJ. Local Bangor financial advisors will probably have the telephone dialling code 028 and the postcode BT19.
A Financial Advisor's Everyday Duties
- A financial advisor works in collaboration with associates to collect statistics, market information and trends.
- A financial advisor recommends the best-suited financial products to clients.
- A financial advisor chats with customers regarding their plans and finances.
- A financial advisor keeps fully abreast of law changes and new products.
- A financial advisor consistently updates clients regarding their investments.
- A financial advisor collaborates with providers of financial products.
- A financial advisor meets targets for sales and performance.
- A financial advisor keeps a record of clients and transactions.
- A financial advisor produces financial reports.
- A financial advisor provides consultation, education and counselling regarding investments and finances.
Skills Needed by Financial Advisors
- An outstanding level of math knowledge for developing financial strategies.
- Good management skills for negotiating product fees.
- To have a flexible approach to work.
- To have the ability to network and establish solid relationships with clients.
- To pay attention to detail and be thorough.
- Outstanding verbal communication skills.
- To have the ability to listen attentively
- The ability to promote services and products.
- To be capable of using a computer and the principal software.
- A solid understanding and knowledge of economics and accounting associated with financial products and markets.
- Good skills in customer service for establishing client needs.
Bangor Financial Advice Services
There are a wide array of services which can be provided by your local Bangor financial advisor including life assurance advice in Bangor, unit trusts Bangor, divorce planning in Bangor, investment bonds, income protection advice Bangor, wealth management & investments in Bangor, investment advice in Bangor, will writing services, retirement planning in Bangor, ISA's in Bangor, independent financial advice, mutual funds Bangor, equity release, pension reviews Bangor, long term care fee advice in Bangor, family income benefit, pension planning, business financial planning in Bangor, pension drawdowns in Bangor, trustee investment services, ethical investment advice, cash flow modelling in Bangor, stakeholder pensions, general financial planning, investment planning in Bangor, and more.
Northern Ireland Financial Advisors
In the Northern Ireland area you will likewise find: Dungiven investment advice, Sion Mills financial advisors, Antrim financial advisors, Cullybackey financial advice, Castlederg financial advisors, Dungiven financial advisors, Donaghcloney financial advisors, Dromore financial advice, Lisnaskea financial advisors, Randalstown investment advice, Castledawson financial advice, Cookstown financial advisors, Castlederg financial advice, Keady financial advice, Hillsborough investment advisors, Markethill investment advisors, Newcastle investment advice, Donaghadee financial advisors, Dromore financial advisors, Saintfield investment advice, Antrim investment advice, Strathfoyle investment advice, Springvale financial advisors, Carryduff investment advisors, Dungannon financial advice, Carryduff financial advisors, Larne investment advice, Annalong investment advice.
Financial Advisors Near Bangor
Also: Llanllechid financial advisors, Llandegfan financial advisors, Tal-y-bont financial advisors, Llandygai financial advisors, Llanfairfechan financial advisors, Llanberis financial advisors, Abergwyngregyn financial advisors, Menai Bridge financial advisors, Port Penryn financial advisors, Bethesda financial advisors, Beaumaris financial advisors, Anglesey financial advisors, Caernarfon financial advisors, Bethel financial advisors, Tregarth and more.
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Financial Advisors Around Bangor: In Prospect Road, Hanover Dale, Hawe Court, Hill Crest, Cloverhill Drive, Central Avenue, Silverbirch Crescent, Lineybrook Cottages, Park Drive, Clandeboye Estate, Lord Warden's Green, Dunkeld Avenue, Arleigh Court, First Avenue Bay Lands, South Avenue, Old Ballycrochan Road, Marlo Park, Bryansglen Park, Chatsworth, Gransha Road, Linden Gardens, Annes Court, Dellmount Avenue, Marlo Court, Forthill Close, Skipperstone Drive, Brianville Avenue, Eastway, Ballycrochan Avenue, as well as these local Bangor postcodes: BT19 1QA, BT19 1BW, BT19 1AL, BT19 1FG, BT19 1HA, BT19 1HX, BT19 1AE, BT19 1BH, BT19 1FH, BT19 1EJ, folks have recently needed financial advice.
For the best local Bangor info go here
Independent financial advisor in BT19 area, and dialling code 028.
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