Financial Advisor East Kilbride Scotland (G74): It can be a challenging experience trying to locate a decent independent financial advisor in East Kilbride, particularly if it is the first time that you are needing financial advice. Whether you are looking for mortgage, investment, pension or even insurance advice, all qualified financial advisors have one thing in common; they must all stick to the regulations laid down by the FCA (Financial Conduct Authority). Any advice given from a FCA authorised financial advisor in East Kilbride comes with the guarantee that should things go awry, you have access to the Financial Ombudsman or the Financial Services Compensation Scheme.
Recommendations from friends and relatives can be a decent starting point in picking a financial advisor in East Kilbride, but keep in mind that their situation might be different to the type of advice you are looking for. Not every financial advisor is suitable for everybody, and their advice should be tailored to your particular circumstances. Picking a financial advisor is a big decision and it is wise 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.
There are two main kinds of financial advisor in East Kilbride; restricted advisors and independent financial advisors (IFA). An IFA should not be confined to the products and services of just one company. Covering the whole spectrum of financial products and companies, independent financial advice must be offered in an unbiased and impartial way to clientele. If you decide to use an IFA, you will be able to select from the broadest possible range of products, in order to find the right solution for you. A restricted advisor could be involved with an individual product, as with a mortgage advisor, or be restricted to services and products from a single company.
Before accepting you as a client, any East Kilbride financial advisor must discuss their charges with you, as set out by the Financial Conduct Authority. You may be charged by the hour, a set fee or possibly even a specific percentage of your investment, determined by services you are looking for. To allow you to discuss your objectives and find out if the advisor is a right fit for your circumstances, a free initial consultation may be offered. In some of the larger East Kilbride companies, you may find that your account is being looked after by a team rather than an individual.
You'll have to fill out a "Fact Find" form, which is a confidential disclosure document relating your financial situation and ambitions to the advising company. An Initial Disclosure Document, or Key Facts Document will also be handed to you, providing details about the financial advisors themselves, detailing the scope of their permissions in the financial market and their situation for offering restricted or independent advice. This document will also make clear your rights and the possible options you can take if you aren't satisfied with the service, and wish to make a complaint. It must be typed out in plain language and describe what you are signing up for, and any potential risks and benefits that exist if you elect to take the advice offered. The cooling-off period should also be explained in this Key Facts Document. This allows you to have a change of heart within a certain time period, and cancel your agreement with the financial advisor.
When chatting with the financial advisor for the first time ensure that you check their qualifications and experience. You shouldn't be embarrassed about asking these questions, after all you are on the verge of entrusting your financial wellbeing to their skill. Every financial advisor in East Kilbride must be in a position to present an annual Statement of Professional Standing, and must at least hold a Level 4 qualification. You shouldn't panic if your particular advisor's name does not appear on the Financial Services Register, providing the firm is on the register, their staff will be covered by the legislation. If these can't be presented the person can still offer financial guidance instead of advice. In financial terms guidance is different to advice and is not regulated. Therefore there's no recourse for either party if financial errors occur.
If you are looking for advice on investing money you will be asked the level of risk you're prepared to accept. Larger rewards may be possible with high risk investments, however you may also lose all or some of your money. In order to get the most beneficial investment and financial advice, your savings goals will need to be carefully considered, i.e. long or short term investments, how rapidly you need access to your funds and how much you have to invest. You should always ask yourself the one crucial question, how much money can you afford to lose. This is commonly called your 'capacity for loss' and may affect the services and products that are offered for your consideration.
If you already have any current investments, regular outgoings, mortgages or savings, you should tell your financial advisor about these. This will give a clear and full picture of your financial circumstances, without which the advice given might not be the most appropriate for you. The diversification of your savings and investments by spreading the risk load across various different products, is an essential part of good quality financial advice. With an understanding of the best areas to consider, a seasoned financial advisor will favour products that most closely match your financial circumstances and goals.
Communicating in the clearest possible way, your financial advisor will unveil the complex world of investment and finance. You should be able to come to an informed and considered decision once you have learned about the various services and products which meet your needs. If you are environmentally minded, you could maybe ask your advisor to stick to ethical savings and investments. This will allow you to support enterprises and companies that match your concerns, e.g. renewable energy or zero carbon, or perhaps keeping away from investments that do not meet your requirements.
Working alongside your financial advisor in East Kilbride can be tricky to fit in around work and other commitments. This can be alleviated by supplementing face-to-face appointments with video conferencing and telephone, hence enabling you to get the guidance you need at convenient times. Even if you rarely have a one-to-one meeting with your advisor, a competent financial advice company in East Kilbride will have stringent measures in force to ensure your details are kept secure and confidential, because home and remote working is now commonplace.
Investments can be a volatile area, and their values can go down as easily as they go up. If it just so happens that your investment isn't making as much money as you hoped for, it can be a very worrying and frustrating time. A downward trend in your investment isn't a recognised grounds for complaint, unless your financial advisor has given you wrong or misleading information.
Any complaints should start out with the firm's official complaints procedure as described in the Key Facts Document. If the issue remains unsolved within the time set by the regulating authority, and your advisor is a member of the FCA, you can advise the Financial Ombudsman.
The Financial Ombudsman will look into the cause for complaint and come to a decision. If the complaint is upheld, a decision is made on how to rectify the situation or financially compensate the client. Once agreed on by the customer, the decision will become a legally binding one, and the financial advisor and their company must comply with it. Any hassle, annoyance, inconvenience and distress caused to the client during the process, will be considered when the Financial Ombudsman establishes the level of compensation.
Financial advice can be provided in East Kilbride and also nearby in: Eaglesham, Kelvin, The Murray, Carmunnock, Glassford, Clarkston, Peel Park, Chapelton, Nerston, Waterfoot, Thorntonhall, Calderwood, Hamilton, Blantyre, Strathaven, Giffnock, and in these postcodes G74 1HZ, G72 9UE, G74 2DF, G74 2DZ, G74 1NW, G74 1BB, G74 1JY, G74 1EL, G74 1LQ, G74 1DB. Locally based East Kilbride financial advisers will likely have the postcode G74 and the telephone code 01355.
East Kilbride Financial Advice Services
There is a variety of services which can be provided by your local East Kilbride financial advisor including pension advice in East Kilbride, inheritance tax planning, stakeholder pension advice East Kilbride, corporate bonds, divorce planning, unit trusts, financial advice services, retirement advice, pension advice East Kilbride, annuity purchases in East Kilbride, life assurance, annuities, ethical investment advice, ISA's, cheap financial advice East Kilbride, family income benefit in East Kilbride, business planning in East Kilbride, bridging finance, mutual funds in East Kilbride, life insurance advice, investment advice East Kilbride, wealth management & investments in East Kilbride, equity release in East Kilbride, trusts East Kilbride, investment planning in East Kilbride, and more.
Financial Advisors Near East Kilbride
Also: Waterfoot financial advisors, Chapelton financial advisors, Eaglesham financial advisors, Kelvin financial advisors, Blantyre financial advisors, The Murray financial advisors, Glassford financial advisors, Nerston financial advisors, Calderwood financial advisors, Giffnock financial advisors, Hamilton financial advisors, Clarkston financial advisors, Peel Park financial advisors, Thorntonhall financial advisors, Carmunnock financial advisors, Strathaven and more.
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Financial Advisors Around East Kilbride: Over the past year financial advice was provided in these East Kilbride streets: Clayton Court, Brook Road, Leamington Drive, Hallams Lane, Wharton Crescent, Felton Close, Collin Street, Anslow Avenue, Caldbeck Court, Dennis Avenue, Humber Road, Marriott Close, Karen Gardens, Halstead Close, Derby Road, Bramcote Road, Pearson Close, Northfield Road, Keswick Close, Northdown Drive, Windsor Street, Attenborough Lane, Southfields Court, The City, Albion Street, Inham Circus, Imperial Road, Marlborough Court, Leslie Avenue, Highfield Court, and in these Scotland postcodes: G74 1HZ, G72 9UE, G74 2DF, G74 2DZ, G74 1NW, G74 1BB, G74 1JY, G74 1EL, G74 1LQ, G74 1DB.
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Independent financial advisor in G74 area, 01355.
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