Financial Advisor Enfield Greater London (EN1): It can be a challenging experience trying to find a decent independent financial advisor in Enfield, especially if it is the very first time that you are in search of financial advice. Whether you are searching for mortgage, pensions, investment or even insurance advice, all financial advisors are bound by one simple rule; they must all conform to the regulations laid down by the Financial Conduct Authority (FCA). This comes with some guarantees, thus after getting advice from a FCA approved financial advisor in Enfield, you can seek reparation from the Financial Services Compensation Scheme or the Financial Ombudsman Scheme, if something should go awry.
Recommendations from friends and family can be a good starting point in choosing a financial advisor in Enfield, but bear in mind that their situation could be different to the type of advice you are looking for. Financial advice needs to be specifically tailored to your unique circumstances, and you will find that certain financial advisors might not be appropriate for you. To explore the various options that they can provide and find a financial advisor that you can trust and feel at ease with, it is wise to speak with at least 3 different firms, because after all picking a financial advisor is a big decision.
There are 2 principal types of financial advisor in Enfield; independent financial advisors (IFA) and restricted advisors. An IFA will not be restricted to the services and products of a single company. Independent financial advice must be given in an impartial way and across the whole spectrum of financial companies and products. This will allow you to choose from the widest possible range of services to match your needs. A restricted advisor may be tied to products and services from a particular company, or might even concentrate on an individual product, as can be the case with a mortgage advisor.
Before any financial advisor in Enfield takes you on as a client, they are required by the Financial Conduct Authority to be transparent about their charges. Although it can vary based on the kind of service or product you're looking for, there may be an hourly rate, a set fee, or you could even be charged a slice of what you're investing. To discuss your goals and determine whether the advisor is suitable for you and your situation, you might be offered a free first consultation. In some of the larger Enfield companies, you might find that your account is handled by a team as opposed to an individual.
You will be required to fill out a "Fact Find" form, which is a confidential disclosure document relating your financial situation and targets to the advising firm. An Initial Disclosure, or Key Facts Document will also be given to you, providing information regarding the financial advisors themselves, detailing their range of permissions in the financial arena and their status to offer restricted or independent advice. If you're not happy with the service, and wish to complain, this document should also set down your rights and the possible options you can take. It must be easy to understand, written in plain language, and explain precisely what you're committing yourself to, along with the risks and benefits of taking the proffered advice. You can find the amount of cooling-off period in this document. This allows you to cancel the agreement within a certain number of days, and whenever any penalty charges are incurred.
When talking with the financial advisor for the first time ensure that you check their qualifications and experience. You needn't be self-conscious about asking these questions, after all you're on the verge of entrusting your financial wellbeing to their expertise. Every Enfield financial advisor must be able to present an annual Statement of Professional Standing, and must hold at least a Level 4 qualification. If the advisor's name does not appear on the Financial Services Register, you shouldn't panic, the company the person works for will almost certainly be on the register and their employees are all covered by the legislation. If these can't be provided the individual can still offer financial guidance instead of financial advice. Guidance isn't regulated in the way that financial advice is, which means that if mistakes are made neither party will have any recourse.
You will be asked the amount of risk you're willing to accept, if you are seeking advice on investing money. Many investments carry some element of risk, but higher risk investments could offer better rewards, and also more likelihood of losing some or all of your cash. Your savings aims will have to be taken into account if good investment advice is to be given, i.e. how rapidly you need access to your funds, short or long term investments and how much you wish to invest. The one question that you should ask yourself, which is frequently ignored, is just how much you can afford to lose. This may affect the services and products that you are offered, and is referred to as your capacity for loss.
Right from the start, it's crucial that you tell your financial advisor about any existing regular payments, investments, savings accounts or mortgages that you currently have. This gives a full and clear picture of your financial situation, without which the advice given may not be the most suitable for you. Spreading the risk load across a range of different products by diversifying your investments and savings, is something that sound financial advice should allow for. With a knowledge of the best areas to consider, a seasoned financial advisor will favour products that most closely match your goals and financial circumstances.
Communicating in in the simplest terms possible, your financial advisor will reveal the multifaceted world of investment and finance. After comparing the various products and services that match your needs, you should be in a position to come to an informed and calculated decision. You could perhaps ask your financial advisor to only specify ethical savings and investments. You will then be able to stay away from companies that corporations meet your criteria, and instead support those firms and enterprises that address your concerns, for example renewable energy or zero carbon.
Working closely with your financial advisor in Enfield can be difficult to manage around your work day and other commitments. To enable you to get advice at times that suit you, face-to-face meetings can be complemented with phone calls and video conferencing. Even if you rarely have a one-to-one meeting with your personal advisor, a professional financial advice firm in Enfield will have strict measures in force to ensure your details are kept confidential and secure, because home and remote working is now so common.
You must always bear in mind that the financial sector can be unpredictable, and the value of your investments could just as easily drop as well as rise. If your investment isn't making as much money as you hoped for, it can be incredibly disheartening and stressful. However, unless it is due to misleading or incorrect information from your financial advisor, a downward spiraling of your investment isn't seen as a grounds for complaint.
The company's complaints procedure should be the best place to start with any grievances, and the Key Facts Document should discuss this. If the matter remains unsolved within the time period set by the regulating authority, and your advisor is registered with the FCA, you can contact the Financial Ombudsman.
The Financial Ombudsman will come to a decision after independently reviewing the cause of the complaint. A decision is made on how to financially compensate the client, if the complaint is justified. This will become legally binding as soon as it has been agreed on by the customer, and the advisor and their firm must comply with the ruling. Any compensation set by the Financial Ombudsman will also account for any distress, inconvenience, hassle and upset caused to the customer during the dispute.
Financial advice can be provided in Enfield and also in nearby places like: Gordon Hill, New Southgate, London, Brimsdown, Oakwood, East Barnet, Bush Hill Park, Cockfosters, Bullsmoor, Buckhurst Hill, Chase Side, Ponders End, Waltham Cross, together with these postcodes EN1 1JS, EN1 1HP, EN1 1DS, EN1 1JG, EN1 1HE, EN1 1QD, EN1 1LH, EN1 1DG, EN1 1SG, EN1 1SJ. Local Enfield financial advisers will probably have the phone code 020 and the postcode EN1. Click the "enquiry" form or banner to get details about financial advisors in your location.
Enfield Financial Advice Services
There is a range of services which can be provided by your local Enfield financial advisor including long term care fee advice in Enfield, general financial planning Enfield, investment advice, pension reviews, cash flow modelling, ISA's, independent financial advice, wealth management & investments, will writing services, cheap financial advice, corporate bonds Enfield, bridging finance, financial analyst services, cashflow analysis Enfield, ethical investment advice in Enfield, life assurance advice Enfield, life insurance advice, pension advice Enfield, pension consolidation Enfield, family income benefit, trusts, offshore investments, financial advice services Enfield, unit trusts in Enfield, business planning, and lots more.
Skills Needed to be Financial Advisors
- An excellent understanding and knowledge of accounting and economics associated with financial markets and products.
- To be able to network and establish solid relationships with clients.
- To have good IT skills.
- To have the ability to listen attentively
- Outstanding verbal communication skills.
- To be organised and self-motivated.
- Good customer service skills for establishing client needs.
- An outstanding level of math knowledge for producing financial strategies.
- To pay attention to detail and be thorough.
- Good business management skills for the negotiation of product rates.
- The ability to promote services and products.
Regular Tasks for a Financial Advisor
- Financial advisors produce financial reports.
- Financial advisors make deals with with providers of financial products.
- Financial advisors keep detailed records of clients and transactions.
- Financial advisors consistently update customers about their investments.
- Financial advisors speak with clients about their plans and finances.
- Financial advisors research financial products and explain them clearly and simply to their customers.
- Financial advisors provide counselling, education and consultation regarding finances and investments.
- Financial advisors work together with colleagues to collect trends, market information and statistics.
- Financial advisors keep up to date with regulation changes and new financial products.
- Financial advisors meet sales and performance targets.
Financial Advisors Near Enfield
Also: Waltham Cross financial advisors, Oakwood financial advisors, Chase Side financial advisors, Buckhurst Hill financial advisors, New Southgate financial advisors, Bullsmoor financial advisors, Bush Hill Park financial advisors, Ponders End financial advisors, Cockfosters financial advisors, Brimsdown financial advisors, London financial advisors, East Barnet financial advisors, Gordon Hill and more.
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Financial Advisors Around Enfield: People who live in the following streets and roads have just recently inquired about financial advice - Cambridge Parade, Sinclare Close, Clifton Gardens, The Link, Broadlands Close, The Ridgeway, Chatsworth Drive, Cypress Avenue, Alma Road, Sedley Close, Cedar Avenue, Standard Road, Cowland Avenue, Ashford Crescent, Chase Hill, Conifer Gardens, Sherborne Avenue, Bridgenhall Road, Stonehorse Road, Cocker Road, Scotland Green Road, Chestnut Road, Stonycroft Close, Durants Road, Bagshot Road, Churchbury Lane, Brigadier Hill, The Greenway, as well as the following Enfield area postcodes: EN1 1JS, EN1 1HP, EN1 1DS, EN1 1JG, EN1 1HE, EN1 1QD, EN1 1LH, EN1 1DG, EN1 1SG, EN1 1SJ.
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Independent financial advisor in EN1 area, phone code 020.
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