Financial Advisor Bideford Devon (EX39): Locating a good independent financial advisor in the Bideford area can be a daunting experience, especially if you are needing financial advice for the very first time. Nevertheless, all qualified financial advisors are bound by one simple rule; they all have to adhere to the regulations laid down by the FCA (Financial Conduct Authority), regardless of whether you are looking for investment, mortgage, pension or even insurance guidance. Any advice given by a FCA approved financial advisor in Bideford comes with the guarantee that should things go awry, you have access to the Financial Ombudsman Scheme or the Financial Services Compensation Scheme.
When selecting a financial advisor in Bideford, a decent starting point could be friends and neighbours, however you must bear in mind that your circumstances might not be the same as theirs, and you may need a different type of advice. Any advice they provide needs to be adapted to your unique circumstances, and not every financial advisor is suitable for everybody. Picking the right financial advisor is important and it is wise to talk with at least 3 different companies so as to check out the options they can provide, and to find one you feel comfortable with and can trust.
When it comes to picking a financial advisor in Bideford, there are two main types; independent financial advisors (IFA) and restricted advisors. Offering a broader range of options, an independent financial advisor will not be confined to the products or services of just one provider. Independent financial advice should cover the entire gamut of financial companies and products, and should be offered in an unbiased way. Consulting an IFA should permit you to choose between the broadest possible array of products. A restricted advisor might be focused on a single product, as with a mortgage advisor, or be limited to products and services from a particular provider.
Before taking you on as a client, any financial advisor in Bideford must be transparent about their charges, as required by the Financial Conduct Authority. You could be charged a set fee, by the hour or maybe even a percentage of your investment, based on type of service you require. You will sometimes be offered the possibility of a free initial consultation to enable you to discuss your goals and find out if the advisor is a good fit for your circumstances. If you go to one of the bigger Bideford companies, your account might be managed by a team of advisors rather than just one individual.
To describe your financial situation and targets to the advising company, you will need to complete a "Fact Find" form, which is a confidential disclosure document. To provide details of the financial advisor, their status to offer independent or restricted advice and the extent of their permissions in the financial arena, you will also be given a Key Facts or Initial Disclosure Document. Your legal rights will also be set out in this document, in addition to your options if you wish to make a complaint because you aren't happy with the service you're given. It should outline precisely what you're committing yourself to, and any potential risks and benefits if you elect to take the offered advice, and it should be written in plain language. The cooling-off period should also be fully explained in this document. This enables you to cancel the agreement within a specific time period, and if any penalties have to be paid.
The first time you're talking to your financial advisor ensure that you check what experience and qualifications they've got. After all you're about to entrust your financial future to their skill, so you must not be self-conscious about asking these questions. Every Bideford financial advisor must present an annual Statement of Professional Standing, and must hold at least a Level 4 qualification. If the advisor's name does not show up on the Financial Services Register, you should not stress, the firm the person works for should be found on the register and their personnel are all covered by the regulations. The individual may still offer financial guidance as opposed to advice, if these can't be presented. Guidance is different to advice as it is not regulated, and if financial mistakes occur there will probably be no recourse to either party.
You will be asked the level of risk you are ready to take on, if you are seeking advice on investments. Bigger rewards may be possible with high risk investments, but you stand a greater chance of losing some or all of your cash. Decent investment and financial advice should take you savings objectives into consideration, i.e. how rapidly you need to access your money, how much you have to invest and long or short term investments. "How much can you actually afford to lose?" Is the one important question that you should really be asking yourself. This is commonly called your capacity for loss and could affect the services and products that are offered to you.
If you've already got any current investments, savings, regular outgoing payments or mortgage loans, you should tell your financial advisor about these. This should give a full and clear picture of your financial circumstances, and without this the advice you get might not be the best for you. Smart financial advice should include diversifying your investments and savings by spreading the risk load across a range of different products. Having a knowledge of the best areas to consider, an experienced financial advisor will favour products that match your goals and financial situation.
A financial advisor will unveil the complex world of finance, and communicate in the clearest possible way. You should be in a position to come to an informed and educated decision once you have learned about the various services and products which match your needs. If the environment is important to you, you could maybe ask that ethical investment and savings schemes take precedence. This allows you to lend support to enterprises and companies which match your concerns, i.e. zero carbon or renewable energy, or perhaps keeping away from corporations that do not meet your standards.
Working together with a financial advisor in Bideford can be tricky to fit in around work and other responsibilities. This can be alleviated by supplementing face-to-face meetings with video conferencing and phone calls, hence enabling you to get the advice you need at a convenient time. Even if you rarely have a face-to-face meeting with your personal advisor, a professional financial advice firm in Bideford will have stringent measures in place to keep your details confidential and secure, because remote and home working is now commonplace.
You must keep in mind that the financial sector can be unpredictable, and investment values could just as easily go down as well as up. If your investment isn't making the amount of money you hoped for, it can be extremely frustrating and stressful. A downward spiral in your investment is not seen as a grounds for complaint, unless your advisor has given you wrong or misleading information.
The firm's complaints procedure should be the best place to start with any disputes, and the Key Facts Document should discuss this. You can tell the Financial Ombudsman about the issue if it remains unresolved within the time set by the regulating authority, and the financial advisor is a member of the Financial Conduct Authority.
The Financial Ombudsman will come to a decision after independently reviewing the cause of the complaint. If the complaint is upheld, a decision will be made on how to financially compensate the client. On acceptance by the client, the decision will become a legally binding one, and the advisor and their firm must comply with it. Any inconvenience, upset, hassle and distress caused to the customer during the dispute, will be considered when the Ombudsman fixes the level of compensation.
Financial advice can be provided in Bideford and also in: Abbotsham, Westward Ho!, Barnstaple, Monkleigh, Eastleigh, Instow, Landcross, Northam, Handy Cross, Weare Gifford, Appledore, East-the-Water, Fairy Cross, Tapeley, Littleham, Westleigh, together with these postcodes EX39 2LP, EX39 1WB, EX39 2HS, EX39 2NZ, EX39 2JJ, EX39 2HJ, EX39 2QH, EX39 2EZ, EX39 2JD, EX39 3AQ. Locally based Bideford financial advisers will likely have the postcode EX39 and the telephone dialling code 01237. Simply click on the "enquiry" banner to get info on financial advisors in your area.
Bideford Financial Advice Services
There is a wide range of services which are provided by your local Bideford financial advisor including general financial planning, annuity purchase Bideford, business planning in Bideford, pension drawdowns, pension consolidation advice Bideford, inheritance tax planning, wealth management & investments Bideford, unit trusts, pension reviews Bideford, offshore investments Bideford, pension planning, retirement planning in Bideford, financial analyst services Bideford, financial advice services, investment advice, cheap financial advice in Bideford, long term care fee planning, stakeholder pensions, corporate bonds in Bideford, bridging finance Bideford, trusts, income protection advice, mutual funds, trustee investment services in Bideford, annuities Bideford, and more.
Skills and Knowledge Needed by a Financial Advisor
- To be organised and self-motivated.
- Effective business management skills for the negotiation of product prices.
- Attentive listening and interpersonal skills.
- To pay attention to detail and be thorough.
- Effective customer service skills for identifying client requirements.
- An outstanding level of mathematical knowledge for producing financial plans.
- To be good at promoting services and products.
- Excellent verbal communication skills.
- An excellent understanding of accounting and economics with regard to financial products and markets.
- To be able to competently use a computer and the appropriate software programs.
- To be able to network and establish relationships with customers.
Financial Advice Enquiries Devon
Recent Devon financial advice enquiries: Mr and Mrs Mckee from Whimple recently enquired about offshore investments. Annalise Morrow from Chudleigh Knighton recently enquired about financial planning. Brooke and Reegan Hagan from Heanton Punchardon recently enquired about investment bonds. Aaryan George and Skylar George from Budleigh Salterton recently asked for information on life assurance. Eric and Vanessa Osborne from Mortehoe recently asked for information on offshore investments. Aliya Hubbard and Soren Hubbard from Broadclyst recently enquired about investment advice. Agnes Gallagher from Walkhampton recently enquired about getting financial advice. Kenny Wickens and Alexia Wickens from Sparkwell recently asked for information on offshore investments.
Financial Advisors Near Bideford
Also: Appledore financial advisors, East-the-Water financial advisors, Tapeley financial advisors, Northam financial advisors, Littleham financial advisors, Westleigh financial advisors, Handy Cross financial advisors, Westward Ho! financial advisors, Abbotsham financial advisors, Instow financial advisors, Barnstaple financial advisors, Weare Gifford financial advisors, Landcross financial advisors, Monkleigh financial advisors, Fairy Cross financial advisors, Eastleigh and more.
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Financial Advisors Around Bideford: Households in Harlseywood, North View Hill, Rogers Crescent, Moreton Avenue, Slade, Newton Road, Manteo Way, Ayres Close, Oaklands, Upcott Hill, Torridge Mount, Charles Avenue, Riverside Court, Ferndown Close, Bridge Plats Way, East Ridge View, Park Lane, Lombard Close, Catshole Lane, Stanwell Hill, Forest Hill, Milton Place, Trent Close, Brookfield, The Quay, Willow Grove, Silver Street, Fulford Close, have needed financial advice recently. Financial advisors have also been active in these local Bideford postcodes: EX39 2LP, EX39 1WB, EX39 2HS, EX39 2NZ, EX39 2JJ, EX39 2HJ, EX39 2QH, EX39 2EZ, EX39 2JD, EX39 3AQ.
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For local information on Bideford, Devon check here
Independent financial advisor in EX39 area, telephone code 01237.
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