Financial Advisor Lancing West Sussex (BN15): If you're seeking financial advice for the first time, trying to locate a decent financial advisor advisor in Lancing can be a quite daunting experience. However, all qualified financial advisors are bound by one simple rule; they must all follow the regulations laid down by the Financial Conduct Authority (FCA), regardless of whether you're after pensions, mortgage, investments or even insurance advice. The benefit of this is that if a financial advisor who is FCA certified gives you poor advice, and anything goes wrong, you have guarantees, and are able to get in touch with the Financial Services Compensation Scheme or the Financial Ombudsman to get things put right.
When selecting a financial advisor in Lancing, a decent place to start could be neighbours and friends, however you must bear in mind that your situation may not be in line with theirs, and you may need a different sort of advice. Financial advice needs to be specifically tailored to your unique circumstances, and you'll find that certain financial advisors may not be appropriate for you. To explore the various options they can provide and find a financial advisor that you can trust and feel at ease with, it is a good idea to speak to at least 3 different firms, because after all picking a financial advisor is a major decision.
There are two principal kinds of financial advisor in Lancing; independent financial advisors (IFA) and restricted advisors. The benefit of using an IFA is that they won't be limited to the services and products of just one company, and can offer a more diverse range of options. Covering the full spectrum of financial companies and products, independent financial advice should be offered in an impartial and unbiased way to clients. Consulting an IFA should allow you to choose between the widest possible array of products. A restricted financial advisor could be tied to products and services from a particular company, or might even concentrate on one particular product, as may be the case with a mortgage advisor.
Before accepting you as a client, any financial advisor must fully discuss their charges with you, as required by the FCA. You might be charged by the hour, a set fee or possibly even a specific percentage of your investment, according to kind of services you are looking for. To enable you to discuss your goals and find out if the advisor is a right fit for your situation, a free preliminary consultation might be offered. If you go with one of the bigger Lancing firms, your account might be looked after by a team of advisors rather than just one person.
You'll be asked to complete a "Fact Find" document, which is a confidential disclosure form relating your targets and financial situation to the advising company. You should also be handed a Key Facts or Initial Disclosure Document, which provides you with information on the financial advisor, their situation for offering restricted or independent advice and the extent of their permissions in the financial arena. If you're not happy with the service, and wish to complain, this document will also lay out your legal rights and the possible options you can take. It should be easily understood, written in plain English, and outline exactly what you're signing up for, together with the risks and benefits of accepting the proffered advice. The Key Facts Document should also tell you about the allowed cooling-off period. This enables you to cancel the contract within a specific time period, and if any penalty charges are incurred.
Ensure that you check the experience and qualifications of the financial advisor the first time you speak to them. Asking such questions shouldn't cause you any embarrassment, because after all you're entrusting them with your financial wellbeing. Every Lancing financial advisor must be in a position to present an annual Statement of Professional Standing, and must hold a minimum of a Level 4 qualification. Don't worry if your specific financial advisor's name doesn't appear on the Financial Services Register, as long as the firm is listed on the register, their personnel are covered by the regulations. The individual may still offer financial guidance rather than advice, if these cannot be presented. Guidance isn't regulated in the same way as financial advice, meaning that if errors occur the client won't have any recourse.
You'll be asked about the level of risk you're prepared to take on, if you are seeking advice on investing money. Most investments carry some element of risk, but higher risk investments could offer better rewards, and also more likelihood of losing your capital. Decent investment and financial advice will take you savings aims into consideration, i.e. long or short term investments, how rapidly you need access to your money and how much money you want to invest. You should always ask yourself the one vital question, how much can you truly afford to lose. Sometimes referred to as your 'capacity for loss', this will most likely affect the services and products that you are offered.
If you have already got any current mortgage loans, regular outgoing payments, personal savings or investments, you need to tell your financial advisor about these. To make certain that you receive the most appropriate advice for you, they need to have a clear and full picture of your financial circumstances. Sound financial advice should allow for diversifying your investments and savings by spreading the risk across a number of different products. With an understanding of the best areas to consider, an experienced financial advisor will concentrate on products that fit in with your goals and financial situation.
Your financial advisor will communicate in as plain a speech as possible, to lay bare the complex world of finance. You should be in a position to make an informed and educated decision when you have compared the various services and products which match your needs. If the environment is at the forefront of your mind, you could perhaps ask that ethical savings and investment schemes take top priority. You can then stay away from investments that businesses meet your requirements, and instead lend your support to those organisations and firms that address your concerns, for instance zero carbon or green energy.
It may prove difficult to manage your work life and other commitments around a close working relationship with your financial advisor in Lancing. This can be reduced by augmenting face-to-face appointments with video conferencing and phone calls, therefore allowing you to get the guidance you need at convenient times. Home and remote working is now commonplace, and an experienced financial advice provider in Lancing will have stringent measures in force to keep your details secure and confidential, even if you rarely have an in-person meeting with your personal advisor.
Investments can be a volatile area, and their values could fall as well as rise. If your investment isn't making as much money as you hoped for, it can be extremely frustrating and worrying. However, except if it's owing to misleading or wrong information from your advisor your investment having a downward trend isn't seen as a grounds for complaint.
Any disputes should start with the firm's complaints procedure as outlined in the Key Facts Document. You can let the Financial Ombudsman know about the problem if it is unresolved within the period set by the regulating authority, and the financial advisor is registered with the Financial Conduct Authority.
The Financial Ombudsman will independently review the cause of the complaint and make a ruling. A decision will be made on how to rectify or financially compensate the client, if the complaint is justified. The advisor and their company must abide by any decision that is made by the Ombudsman, which becomes legally binding as soon as the customer has accepted it. Any compensation set by the Ombudsman will also take into account any annoyance, hassle, distress and inconvenience caused to the customer during the situation.
Financial advice can be provided in Lancing and also in: Botolphs, North Lancing, South Lancing, Worthing, Washington, Findon, Broadwater, Upper Beeding, Goring by Sea, Wiston, Bramber, Shoreham-by-Sea, Coombes, Sompting, Steyning, together with these postcodes BN15 5BE, BN15 0NT, BN15 8DU, BN15 0HQ, BN15 0QX, BN15 0HR, BN15 8EG, BN15 8HH, BN15 8EA, BN15 8EU. Locally based Lancing financial advisors will most likely have the postcode BN15 and the dialling code 01903. Simply click on the "enquiry" banner or form to get details about financial advisors in your area.
Lancing Financial Advice Services
There are a whole host of services that are provided by your local Lancing financial advisor including financial planning in Lancing, wealth management & investments, investment plans, bridging finance in Lancing, divorce planning, investment planning, financial analyst services, personal financial planning, pension advice, trustee investment services, offshore investment advice Lancing, ethical investments, general financial planning, family income benefit, unit trusts, cash flow modelling Lancing, life assurance, pension drawdowns Lancing, independent financial advice in Lancing, portfolio management, will writing services, retirement advice, annuities Lancing, equity release, business planning in Lancing, and lots more.
A Financial Advisor's Everyday Duties
- A financial advisor produces in-depth financial reports.
- A financial advisor maintains a record of potential clients and transactions.
- A financial advisor keeps abreast of new products and legislation changes.
- A financial advisor provides consultation, education and counselling with regards to investments and finances.
- A financial advisor speaks with customers about their plans and finances.
- A financial advisor meets sales and performance targets.
- A financial advisor researches financial products and explains them clearly and simply to customers.
- A financial advisor works with colleagues to gather trends, statistics and market information.
- A financial advisor updates clients concerning their investments.
- A financial advisor collaborates with financial product providers.
The Skills and Knowledge Needed to be Financial Advisors
- Good skills in verbal communication.
- To have the ability to use a computer and the primary software packages.
- The ability to promote financial products and services.
- A good level of numeracy for building financial strategies.
- To be thorough and pay attention to detail.
- Active listening skills.
- Excellent business management skills for the negotiation of product fees.
- To have excellent time management skills.
- An outstanding understanding of accounting and economics with regard to financial markets and products.
- Effective customer service skills for finding out client requirements.
- To have the ability to network and build solid relationships with clients.
Financial Advisors Near Lancing
Also: Sompting financial advisors, Washington financial advisors, Goring by Sea financial advisors, Botolphs financial advisors, Upper Beeding financial advisors, South Lancing financial advisors, North Lancing financial advisors, Shoreham-by-Sea financial advisors, Wiston financial advisors, Broadwater financial advisors, Bramber financial advisors, Coombes financial advisors, Worthing financial advisors, Steyning financial advisors, Findon and more.
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Financial Advisors Around Lancing: Households in Swanbourne Close, Fairview Road, Pende Close, Western Close, Old Salts Farm Road, Manor Way, Penstone Close, Peter Road, Daniel Close, Ring Road, West Lane, Wembley Avenue, Bristol Avenue, Seaside Road, Monks Avenue, East Street, Meadow Lane, Rossiter Road, Tower Road, The Saltings, Lisher Road, New Salts Farm Road, Greenoaks, Orme Close, Norbury Drive, The Paddocks, Greet Road, Upper West Lane, Kimber Close, have needed financial advice just recently. Financial advisors have also been active in these local Lancing postcodes: BN15 5BE, BN15 0NT, BN15 8DU, BN15 0HQ, BN15 0QX, BN15 0HR, BN15 8EG, BN15 8HH, BN15 8EA, BN15 8EU.
More West Sussex Financial Advisors: More Horsham, Worthing, Hurstpierpoint, Southwater, Crawley, Rustington, Lancing, Bognor Regis, Littlehampton, Chichester, Haywards Heath, Shoreham-by-Sea, Southwick, East Grinstead and Burgess Hill.:
If you would like to get local info relating to Lancing, West Sussex take a look here
Independent financial advisor in BN15 area, (dialling code 01903).
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