Financial Advisor Cambridge Cambridgeshire (CB1): It can be a challenging experience trying to locate a reliable independent financial advisor in Cambridge, particularly if it is the very first time that you're in search of financial advice. However, all qualified financial advisors have one thing in common; they must all follow the regulations set by the Financial Conduct Authority (FCA), regardless of whether you are after investment, pension, mortgage or even insurance advice. The good thing about this is that if a financial advisor who is FCA authorised gives you poor quality advice, and things go wrong, you've got guarantees, and are able to get in touch with the Financial Services Compensation Scheme or the Financial Ombudsman Scheme to get things put right.
When choosing a financial advisor in Cambridge, a good starting point could be friends and relations, but you must keep in mind that your situation might not be in line with theirs, and you may need a different kind of advice. Financial advice should be individually tailored to your particular circumstances, and you will discover that some financial advisors may not be appropriate for you. Choosing a financial advisor is a major decision and it is wise to talk with at least three different companies so as to investigate the various options they offer, and to find one you feel comfortable with and can trust.
When it comes to picking a financial advisor in Cambridge, there are basically two main types; restricted advisors and independent financial advisors (IFA). Offering a more extensive range of options, an IFA will not be limited to a single provider's services or products. Covering the full spectrum of financial products and companies, independent financial advice must be given in an honest and unbiased way to clients. This will allow you to choose from the broadest range of products to match your needs. A restricted financial advisor may be focused on an individual product, as with a mortgage advisor, or be restricted to services and products from a specific firm.
Before any financial advisor accepts you as a client, they are required by the FCA to be transparent about their charges. Depending on the type of service you require, you could be charged by the hour, a set fee or possibly even a percentage of your investment. You may be offered the chance of a free first consultation to enable you to discuss your aims and find out if the advisor is suitable for your situation. Your account could be handled by a team rather than one individual advisor, if you elect to go with one of the larger companies in Cambridge.
You will have to fill out a "Fact Find" form, which is a confidential disclosure document relating your financial situation and targets to the advising firm. To provide information about the financial advisor, their status to offer independent or restricted advice and the extent of their permissions in the financial sector, you will also be given an Initial Disclosure Document, or Key Facts Document. If you are not happy with the service provided, and wish to submit a complaint, this document will also lay down your rights and your options. It should be written in plain English and describe what you're committing yourself to, and any possible benefits and risks should you opt to go along with the offered advice. This document must also inform you of the level of cooling-off period. This allows you to have a change of heart within a specific time period, and cancel your contract with the financial advisor.
Ensure that you check the qualifications and experience of the financial advisor the first time you speak to them. After all you are about to entrust your financial future to their skill, so you shouldn't be embarrassed about asking these questions. Every Cambridge financial advisor must be in a position to present an annual Statement of Professional Standing, and must at least hold a Level 4 qualification. When checking the Financial Services Register, don't panic if your particular financial advisor's name does not appear on there; you ought to be able to locate the company name, and that means the legislation covers all of their employees. If they are unable to present these accreditations, the person can't offer advice but is allowed to offer financial guidance. Guidance is different to advice as it's not regulated in the same way, and if mistakes occur there will probably be no recourse to either party.
You'll be asked about the level of risk you are ready and able to take on, if you are seeking advice on investing money. Most investments carry some element of risk, but high risk investments may offer larger rewards, and also more likelihood of losing your funds. In order to get the most beneficial financial and investment advice, your savings goals will have to be considered, i.e. long or short term investments, how quickly you need to access your money and how much you have to invest. One question you should ask of yourself, which is usually neglected, is just how much money you can really afford to lose. This may well affect the products and services that you're offered, and is referred to as your 'capacity for loss'.
You will need to let your financial advisor know about your existing investments, personal savings, regular outgoing payments or mortgages. This should give a clear and full picture of your financial situation, without which the advice you get might not be the most suitable for you. Diversifying your investments and savings by spreading the risk load across different products, is a crucial part of good quality financial advice. So as to match your financial situation and your goals, a professional financial advisor in Cambridge will be aware of the best areas to consider.
Communicating in in the simplest terms possible, your financial advisor will reveal the complex world of investment and finance. This will allow you to compare products and services that meet your needs, and make an informed decision. You can ask your financial advisor only to specify ethical investment and savings schemes. This will allow you to support companies and organisations which match your concerns, e.g. renewable energy or zero carbon, or perhaps avoiding corporations that don't meet your requirements.
It can prove hard to manage your work and other responsibilities around a close working relationship with your financial advisor in Cambridge. One-on-one appointments can be augmented with video conferencing and telephone to enable you to get advice at a time to suit you. Even if you hardly ever have a face-to-face meeting with your personal advisor, an established financial advice provider in Cambridge will have stringent measures in force to ensure your details are kept confidential and secure, because remote and home working is now commonplace.
Investments can be a volatile area, and values can fall as well as rise. It can be incredibly frustrating and stressful if your investment is not making the amount of money you hoped for. A downward trend in your investment is not seen as a grounds for complaint, unless your financial advisor has given you incorrect or misleading information.
Any grievances should begin with the company's official complaints procedure as indicated in the Key Facts Document. If the issue is unresolved within the period laid down by the regulating body, and your advisor is a member of the Financial Conduct Authority, you can get in touch with the Financial Ombudsman.
After looking into the cause of the complaint, the Financial Ombudsman will come to a decision on the issue. A decision is made on how to financially compensate the customer, if the complaint is justified. The financial advisor and their firm must abide by any decision that's made, which becomes a legally binding decision as soon as the client has agreed to it. Any trouble, distress, upset and inconvenience caused to the customer during the situation, will be considered when the Ombudsman fixes the level of compensation.
Financial advice can be provided in Cambridge and also in nearby places like: Grantchester, Cottenham, Fen Ditton, St Neots, Trumpington, Milton, Grantchester Meadows, Newmarket, Petersfield, Horningsea, Cherry Hinton, Newtown, Teversham, Girton, Chesterton, together with these postcodes CB1 0ES, CB1 0LW, CB1 0PU, CB1 0JW, CB1 0NG, CB1 0NB, CB1 0XW, CB1 1AH, CB1 0SG, CB1 0PS. Local Cambridge financial advisers will probably have the telephone code 01223 and the postcode CB1.
The Skills and Knowledge Needed to be Financial Advisors
- Effective skills in customer service for establishing client needs.
- To have good time management skills.
- A good level of mathematical knowledge for creating financial plans.
- To be able to network and build relationships with clients.
- To pay attention to detail and be thorough.
- Effective management skills for the negotiation of product rates.
- A thorough understanding and knowledge of economics and accounting with regard to financial markets and products.
- To be confident in using a computer and the principal software.
- To have the ability to listen attentively
- Excellent skills in verbal communication.
- To be good at promoting services and products.
Financial Advice Enquiries Cambridgeshire
Recently posted Cambridgeshire financial advice enquiries: Ryley Barron and Rumaisa Barron from Orwell, Cambridgeshire recently asked for information on life assurance. Grace Stenhouse and Albi Stenhouse from Bassingbourn, Cambridgeshire recently enquired about investment advice. Kit Giblin from Lode, Cambridgeshire recently enquired about pension advice. Vinnie Weir from Orton Waterville recently enquired about equity release. Fatimah Mcloughlin from Woodditton, Cambridgeshire recently enquired about investment bonds. Theodora Garcia and Kaden Garcia from Downham recently enquired about offshore investments. Mariyah and Tomos Clamp from Leverington, Cambridgeshire recently enquired about offshore investments. Ruby-Rose and Klay Obrien from Swaffham Bulbeck recently asked for information on financial planning.
Cambridge Financial Advice Services
There is a range of services that can be provided by your local Cambridge financial advisor including cashflow analysis Cambridge, will writing services in Cambridge, pension plans Cambridge, personal financial planning Cambridge, mutual funds Cambridge, pension reviews in Cambridge, wealth management & investments, pension transfers, tax advice Cambridge, bridging finance in Cambridge, corporate bonds, investment plans Cambridge, inheritance tax planning, pension consolidation, investment bonds in Cambridge, corporate financial planning Cambridge, life assurance advice, life insurance, financial planning, investment advice, portfolio management, business planning, long term care fee advice Cambridge, ethical investments, offshore investment advice, and lots more.
Cambridgeshire Financial Advisors
In Cambridgeshire you'll additionally find: Barnack financial advice, Girton financial advisors, Lode investment advisors, Girton investment advice, Warboys financial advice, Gamlingay investment advisors, Isleham investment advice, Cambourne investment advisors, Great Paxton financial advisors, Somersham investment advisors, Ramsey investment advice, Helpston investment advisors, Glinton financial advice, Teversham financial advice, Little Paxton investment advisors, Newborough investment advisors, Hardwick investment advice, Barton investment advisors, Gorefield financial advisors, Sutton financial advice, Gamlingay investment advice, Coates financial advice, Gorefield investment advice, Cambourne financial advisors, Leverington investment advice, Papworth Everard financial advisors, Meldreth financial advisors, Duxford financial advice, Histon investment advice, Waterbeach investment advisors.
Financial Advisors Near Cambridge
Also: Grantchester Meadows financial advisors, Girton financial advisors, Newmarket financial advisors, Milton financial advisors, Petersfield financial advisors, Chesterton financial advisors, Horningsea financial advisors, St Neots financial advisors, Cherry Hinton financial advisors, Cottenham financial advisors, Newtown financial advisors, Fen Ditton financial advisors, Teversham financial advisors, Trumpington financial advisors, Grantchester and more.
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Financial Advisors Around Cambridge: Folks living in the following roads and streets have just recently inquired about financial advice - The Grove, St Kilda Avenue, South Road, Dolphin Way, Donegal, Argyle Street, Brewery Road, The Quorum, Bakers Lane, Bawtree Crescent, Spurgeons Close, Thatchers Wood, Alec Rolph Close, St Eligius Street, Brandon Court, Arundel Close, Camps Close, Ainsworth Street, The Square, Borrowdale, Catleys Walk, Topcliffe Way, Caledon Way, Belvoir Terrace, Chestnut Close, The Rustons, Blackhall Road, College Fields, Bartlow Barns, Abbey Place, as well as the following local Cambridge postcodes: CB1 0ES, CB1 0LW, CB1 0PU, CB1 0JW, CB1 0NG, CB1 0NB, CB1 0XW, CB1 1AH, CB1 0SG, CB1 0PS.
Cambridge Financial Advisor Jobs: Get financial advisor jobs near Cambridge by going here: General Financial Advisor Jobs
For local information regarding Cambridge, Cambridgeshire go here
Independent financial advisor in CB1 area, (dialling code 01223).
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