Financial Advisor Houghton-le-Spring Tyne and Wear (DH4): If you're in search of financial advice for the first time, trying to locate a reliable independent financial advisor in Houghton-le-Spring can be a quite daunting experience. Whether it is mortgage, pension, investment or even insurance guidance that you are after, there's one common rule for all financial advisors; they all have to adhere to Financial Conduct Authority regulations. The advantage of this is that should a financial advisor who is FCA approved give you poor quality advice, and things go awry, you have guarantees, and can go to the Financial Ombudsman Scheme or the Financial Services Compensation Scheme to get it put right.
A decent starting point when choosing a financial advisor in Houghton-le-Spring could be friends and family, but remember that the type of advice you're searching for may be different to theirs. Financial advice should be specifically tailored to your particular circumstances, and you will find that certain financial advisors might not be suitable for your requirements. It pays to speak to at least three different companies when you're choosing a financial advisor, as this is a big decision, and you need to find one that you can trust and feel comfortable with, and at the same time check out the various options they can provide.
When it comes to picking a financial advisor in Houghton-le-Spring, there are basically two main types; restricted advisors and independent financial advisors. An IFA will not be restricted to just one provider's services or products. Independent financial advice must encompass the full spectrum of financial companies and products, and must be given in an impartial way. This will permit you to pick from the broadest range of services to meet your needs. If you go to a restricted financial advisor you will soon realise that they could be restricted to products and services of a single firm, or as in the case of a mortgage advisor, may only be involved with one product.
The FCA requires that any financial advisor must discuss their charges with you, before accepting you as a client. You may be charged a set fee, by the hour or even a percentage of your investment value, subject to type of service you're looking for. To discuss your objectives and determine whether the advisor is a good fit for your situation, a free preliminary consultation could be offered. In some of the bigger Houghton-le-Spring companies, you could find that your account is looked after by a team as opposed to an individual advisor.
You will be asked to fill out a "Fact Find" form, which is a confidential disclosure document relating your targets and financial situation to the advising firm. A Key Facts Document, or Initial Disclosure Document will also be handed to you, to provide information on the financial advisors themselves, outlining their range of permissions in the financial arena and their status to offer independent or restricted advice. Your legal rights will also be set out in this document, in addition to your options if you need to submit a complaint because you aren't happy with the service you are given. It must be simple to understand, written in plain English, and explain precisely what you are signing up for, along with the benefits and risks of taking the proffered advice. You will find the level of cooling-off period in the Key Facts Document. This makes it possible for you to cancel the contract within a certain number of days, and if any penalty charges are incurred.
The first time you are speaking with your financial advisor you'll want to check what qualifications and experience they have. After all you're just about to entrust your financial wellbeing to their expertise, so you should never be embarrassed about asking such questions. A Level 4 qualification in financial advice is the minimum qualification for any Houghton-le-Spring financial advisor, and they must also be able to present an annual Statement of Professional Standing. You shouldn't stress if your financial advisor's name does not appear on the Financial Services Register, so long as the firm is on the register, their employees will be covered by the regulations. The individual can still offer financial guidance rather than advice, if these cannot be presented. Guidance is different to advice as it is not regulated, and if financial errors are made there will likely be no recourse to either party.
If it is investing money that you are interested in, the advisor will need to know the level of risk you are prepared to accept with your hard-earned cash. Higher risk investments could potentially offer bigger rewards, however all or some of your money could be lost. Your savings objectives will have to be considered if decent investment and financial advice is to be given, i.e. how quickly you need access to your money, long or short term investments and how much cash you want to invest. One question you should ask of yourself, which is normally overlooked, is just how much money you can really afford to lose. This may influence the products and services that you are offered, and is generally known as your 'capacity for loss'.
You will need to tell your financial advisor about your current savings accounts, regular outgoings, investments or mortgage loans. They'll need to know this, so they can get a picture of your finances and give the correct advice for you. Good financial advice should allow for diversifying your savings and investments by spreading the risk load across different products. A seasoned financial advisor in Houghton-le-Spring will understand the best areas to consider, which match your goals and your financial situation.
Communicating in the clearest way possible, your financial advisor will unmask the complex world of finance and investment. This will help you to compare products and services which meet your needs, and come to an informed decision. If the environment is at the forefront of your mind, you could even ask that ethical savings and investment schemes take precedence. You will then be able to stay clear of corporations that investments meet your standards, and instead lend your support to those companies and businesses that match your concerns, for instance zero carbon or green energy.
It isn't that easy to work closely with a financial advisor in Houghton-le-Spring without this impacting on work and other obligations. One-on-one appointments can be complemented with phone calls and video conferencing to allow you to get advice at times that suit you. Even if you never have an in-person meeting with your advisor, a competent financial advice firm in Houghton-le-Spring will have stringent measures in place to keep your details confidential and secure, because working from home and remote working is now a large part of our society.
The value of your investments can go down as well as up, and this is a factor that you must always bear in mind. It can be extremely stressful and demoralising if your investment isn't making as much money as you were hoping for. However, except if it is because of wrong or misleading information from your advisor your investment having a downward trend isn't a recognised basis for complaint.
As laid out in the Key Facts Document, any disputes should start with the company's official complaints procedure. If your financial advisor is a member of the Financial Conduct Authority, you can tell the Financial Ombudsman about the issue if it remains unsolved within the period set out by the regulating authority.
The Financial Ombudsman will look into the cause for complaint and come to a decision. If the complaint is upheld, a decision will be made on how to financially compensate the client. This will become a legally binding decision as soon as it has been agreed on by the customer, and the financial advisor and their company must abide by the ruling. The Ombudsman will also take into consideration any distress, upset, hassle and inconvenience caused to the customer during the situation, and fix the level of compensation accordingly.
Financial advice can be provided in Houghton-le-Spring and also in: Middle Rainton, Easington Lane, Philadelphia, Newbottle, New Town, Fence Houses, East Rainton, Grasswell, Colliery Row, Great Eppleton, Hetton Downs, Hetton-le-Hole, Chilton Moor, as well as in these postcodes DH4 4JX, DH4 4SA, DH4 4TD, DH4 4PR, DH4 4NN, DH4 4EB, DH4 4PS, DH4 4BB, DH4 4LZ, DH4 4SS. Local Houghton-le-Spring financial advisors will most likely have the postcode DH4 and the telephone code 0191. Click the "enquiry" banner to get information on financial advisors in your area.
Houghton-le-Spring Financial Advice Services
There is a range of services which can be provided by your local Houghton-le-Spring financial advisor including will writing services, ISA's in Houghton-le-Spring, cash flow modelling Houghton-le-Spring, mortgage advice, pension consolidation, life assurance, pension transfers, financial planning, divorce planning in Houghton-le-Spring, corporate financial planning, trusts in Houghton-le-Spring, cheap financial advice Houghton-le-Spring, financial analyst services in Houghton-le-Spring, annuities Houghton-le-Spring, pension advice, pension plans, ethical investment advice in Houghton-le-Spring, mutual funds, cashflow analysis in Houghton-le-Spring, investment bonds, business planning, long term care fee advice Houghton-le-Spring, pension drawdowns, trustee investment services, family income benefit, and lots more.
Tyne and Wear Financial Advice Enquiries
Recent Tyne and Wear financial advice enquiries: Drew and Serena Heaton from Cullercoats, Tyne and Wear recently asked for information on investment bonds. Mr and Mrs Prentice from Newburn, Tyne and Wear recently asked for information on family income benefit. Amina Ball from Boldon recently asked for information on pensions. Zavier and Mahi Mcgregor from Springwell, Tyne and Wear recently enquired about getting financial advice. Mr and Mrs Rowley from Felling, Tyne and Wear recently enquired about mortgage advice. Zakaria Grundy and Lavinia Grundy from Boldon Colliery, Tyne and Wear recently enquired about investment advice. Primrose Westwood and Zack Westwood from Monkseaton, Tyne and Wear recently asked for information on pensions. Naomi Stevenson from Preston, Tyne and Wear recently enquired about mortgage advice.
Fundamental Skills for Financial Advisors
- To be able to network and establish relationships with customers.
- An outstanding level of numeracy for developing financial packages.
- To be good at promoting services and products.
- To have the ability to listen attentively
- To have a target driven mindset.
- Effective management skills for negotiating product prices.
- Good skills in verbal communication.
- Good skills in customer service for finding out client requirements and needs.
- An excellent knowledge of economics and accounting relating to financial markets and products.
- To pay attention to detail and be thorough.
- To have excellent IT skills.
Tyne and Wear Financial Advisors
In the Tyne and Wear area you will additionally find: Windy Nook investment advice, Houghton le Spring investment advisors, Low Fell financial advisors, Annitsford investment advice, Monkseaton financial advice, Monkseaton financial advisors, Burdon investment advisors, Blaydon on Tyne investment advice, West Boldon investment advisors, Dudley investment advice, Percy Main financial advice, Rowlands Gill investment advisors, Dinnington investment advisors, Monkseaton investment advisors, Blaydon investment advice, Birtley investment advice, Preston investment advisors, East Boldon investment advice, Burdon investment advice, Hetton le Hole investment advisors, Kibblesworth investment advisors, Birtley investment advisors, Dinnington financial advice, Greenside financial advisors, Sunniside investment advisors, Backworth financial advice, Annitsford financial advice, Penshaw investment advisors, Felling financial advice, Hebburn investment advisors.
Daily Duties for a Financial Advisor
- Continually updating clients concerning their investments.
- Making advantageous deals with with financial product providers.
- Working in conjuction with colleagues to collect trends, market information and statistics.
- Talking with customers about their finances and plans.
- Providing counselling, consultation and education regarding finances and investments.
- Keeping a record of potential clients and transactions.
- Meeting performance and sales targets.
- Researching financial products and explaining them clearly and simply to customers.
- Keeping abreast of new financial products and law changes.
- Producing financial reports.
Financial Advisors Near Houghton-le-Spring
Also: Hetton-le-Hole financial advisors, East Rainton financial advisors, Fence Houses financial advisors, Middle Rainton financial advisors, Philadelphia financial advisors, Easington Lane financial advisors, Chilton Moor financial advisors, Newbottle financial advisors, Colliery Row financial advisors, Great Eppleton financial advisors, New Town financial advisors, Grasswell financial advisors, Hetton Downs and more.
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Financial Advisors Around Houghton-le-Spring: Households in Whitefield House, Dene Gardens, Willow Road, Hindsons Crescent North, Burn Promenade, Campion Close, Brompton Terrace, Barrack Row, Bamburgh Crescent, Grangewood Close, Primrose Crescent, The Green, Dairy Lane, Mill Court, Mount Pleasant, Buckland Close, Westbourne Terrace, Golf Course Road, Lumley Street, Outram Street, Galashiels Grove, St. Stevens Close, The Grove, Moors Close, West Bridge Street, Fairbairn Drive, Cedarwood, Jubilee Cottages, Chaucer Street, Boundary Cottages, have needed financial advice just recently. Financial advisors have also been active in the following Houghton-le-Spring area postcodes: DH4 4JX, DH4 4SA, DH4 4TD, DH4 4PR, DH4 4NN, DH4 4EB, DH4 4PS, DH4 4BB, DH4 4LZ, DH4 4SS.
More Tyne and Wear Financial Advisors: More Jarrow, South Shields, Blaydon, Hebburn, Tynemouth, Sunderland, Ryton, Washington, Hetton-le-Hole, Wallsend, Newcastle, Whickham, Whitley Bay, Gateshead, Longbenton and Houghton-le-Spring.:
If you're interested in local info on Houghton-le-Spring, Tyne and Wear check here
Independent financial advisor in DH4 area, telephone code 0191.
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