Financial Advisor Lincoln Lincolnshire (LN1): If you are in search of financial advice for the first time, trying to find a good independent financial advisor in Lincoln can be a daunting experience. Nevertheless, all qualified financial advisors have one thing in common; they all have to conform to the regulations set by the FCA (Financial Conduct Authority), whether you are after investments, pensions, mortgage or even insurance advice. The advantage of this is that should a financial advisor who is FCA certified give you poor advice, and anything goes awry, 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 selecting a financial advisor in Lincoln, a good starting point could be family and friends, however you must bear in mind that your situation may not be the same as theirs, and you might need a different sort of advice. Any advice they provide needs to be personalised to your specific circumstances, and every financial advisor is not suitable for everyone. To explore the various options they're offering and find a financial advisor that you feel comfortable with and can trust, it is a good idea to speak to at least 3 different firms, because after all choosing a financial advisor is a big decision.
Restricted advisors and independent financial advisors (IFA), are the two principal kinds of financial advisor in Lincoln. An IFA will not be confined to the services or products of a single provider. Independent financial advice should be given in a frank and impartial way and across the whole spectrum of financial products and companies. If you decide to use an independent financial advisor, you will be able to choose from the widest possible range of products, so as to find the right solution for you. If you use a restricted advisor you'll soon realise that they might be limited to products and services of a specific company, or as with a mortgage advisor, will only be concerned with one solitary product.
Before taking you on as a client, any financial advisor in Lincoln must be fully transparent with you about their charges, as required by the Financial Conduct Authority. Based upon the product you are looking for, you could be charged a set fee, by the hour or perhaps even a proportion of your investment. To allow you to discuss your aims and find out if the advisor is a good fit for your situation, a free preliminary consultation could be offered. Your account may be managed by a team as opposed to one individual advisor, if you decide to use one of the bigger firms in Lincoln.
You will be asked to fill in a "Fact Find" form, which is a confidential disclosure document relating your financial situation and aims to the advising firm. You will also be handed a Key Facts or Initial Disclosure Document, which provides you with details of 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 provided, and wish to submit a complaint, this document will also set down your rights and your options. It must be written in plain English and describe what you're signing up for, and any potential benefits and risks should you decide to accept the advice offered. You can find the level of cooling-off period in the Key Facts Document. Within a specific number of days, this allows you to cancel your agreement.
You need to check what qualifications and experience the financial advisor has the first time you talk to them. Asking such questions should not cause you any embarrassment, because after all you're about to entrust them with your financial future. Every Lincoln financial advisor must be able to present an annual Statement of Professional Standing, and must at least hold a Level 4 qualification. If your advisor's name doesn't show up on the Financial Services Register, you shouldn't panic, the firm the person works for should be found on the register and their staff are all covered by the legislation. If they are not able to provide this evidence, the individual cannot offer advice but is allowed to offer financial guidance. In terms of finance guidance is somewhat different to advice and is not regulated in the same way. Therefore there's no recourse for the client if mistakes are made.
If you're looking for advice on investments you will be asked the level of risk you're willing and able to accept. High risk investments could offer larger rewards, however all or some of your funds could be lost. Your savings aims must be carefully considered if the best financial and investment advice is to be given, i.e. how much you have to invest, how rapidly you need to access your money and long or short term investments. One question you should ask yourself, which is normally ignored, is just how much money you can really afford to lose. Known as your 'capacity for loss', this will quite likely affect the services and products that you are offered.
From the outset, it is imperative that you let your financial advisor know about any existing investments, regular payments, savings accounts or mortgages that you have. This gives a full and clear picture of your financial situation, and without this the advice you're given will most likely not be the most suitable for you. Good financial advice should allow for diversifying your investments and savings by spreading the risk load across a range of different products. A professional financial advisor in Lincoln will have the knowledge of the best products to consider, which match your financial situation and your goals.
Communicating in the plainest speech possible, your financial advisor will unmask the complex world of finance and investment. You should be able to come to an informed and considered decision after you have compared the various products and services which meet your needs. You can maybe ask your advisor to only specify ethical savings and investments. This will allow you to give your support to firms and enterprises that match your concerns, i.e. renewable energy or zero carbon, or perhaps staying away from companies that do not meet your criteria.
It is not that easy to have a close working relationship with a financial advisor in Lincoln without this affecting your work life and other obligations. To allow you to seek advice at times that suit you, face-to-face meetings can be complemented with video conferencing and telephone calls. An established financial advice firm in Lincoln will have strict measures in place to keep your details confidential and secure, even if you never have a one-to-one meeting with your personal advisor, because home and remote working is now so common.
Investment values could drop as well as rise, and this is something that you need to remember. If your investment is not making the amount of money you were hoping for, it can be extremely frustrating and stressful. However, unless it is down to incorrect or misleading information from your financial advisor, a downward trend in your investment is not a recognised basis for complaint.
As described in the Key Facts Document, any complaints should commence with the company's official complaints procedure. You can let the Financial Ombudsman know about the problem if it is unresolved within the time period stipulated by the regulating authority, and your advisor is registered with the FCA.
The Financial Ombudsman will independently review the cause for complaint and come to a decision. If it's found that the complaint is justifiable, a decision will be made on how the client can be compensated or the situation rectified. The advisor and their firm must abide by any ruling that is made, which becomes legally binding once the customer has agreed to it. Any compensation fixed by the Financial Ombudsman will also account for any trouble, inconvenience, annoyance and distress caused to the client during the situation.
Financial advice can be provided in Lincoln and also in: Reepham, Canwick Hill, Newland, Nettleham, Skellingthorpe, Swanpool, Washingborough, North Greetwell, Heighington, Cherry Willingham, New Boultham, Ermine, Branston, Waddington, Burton, as well as in these postcodes LN1 1DZ, LN1 1JX, LN1 1HW, LN1 1AN, LN1 1QE, LN1 1EH, LN1 1AX, LN1 1DE, LN1 1RJ, LN1 1SQ. Local Lincoln financial advisors will probably have the telephone code 01522 and the postcode LN1.
Skills and Knowledge Needed by a Financial Advisor
- Effective business management skills for the negotiation of product fees.
- To be capable of using a computer and the key software.
- To have the ability to listen attentively
- An excellent level of mathematical knowledge for producing financial packages.
- Excellent customer service skills for establishing customer needs.
- To be able to network and establish relationships with clients.
- To pay attention to detail and be thorough.
- The ability to sell products and services.
- Outstanding verbal communication skills.
- To be target driven.
- An excellent knowledge and understanding of accounting and economics relating to financial markets and products.
Lincoln Financial Advice Services
There is a wide range of services which can be provided by your local Lincoln financial advisor including trustee investment services, pension consolidation Lincoln, long term care fee advice, offshore investment advice, pension transfers, pension drawdowns Lincoln, will writing services, retirement planning, unit trusts, mortgage advice, ethical investment advice Lincoln, income protection in Lincoln, cash flow modelling, corporate bonds in Lincoln, investment advice Lincoln, ISA's Lincoln, equity release in Lincoln, business financial planning, pension planning, wealth management & investments Lincoln, pension reviews, corporate financial planning, trusts, general financial planning in Lincoln, financial analyst services, and more.
Lincolnshire Financial Advice Enquiries
The latest Lincolnshire financial advice enquiries: Bonnie Chan from Fiskerton, Lincolnshire recently asked for information on offshore investments. Fearne and Grayson Paterson from Stallingborough recently asked for information on investment bonds. Hope Winn from Belton recently asked for information on financial planning. Zakariyya Keating and Emma Keating from Waddington recently enquired about mortgage advice. Aroush Mace from New Holland recently enquired about mortgage advice. Chanel and Drew Humphrey from Tattershall recently enquired about family income benefit. Marco and Maizie Boland from Aubourn recently asked for information on life assurance. Cadi and Matei Platt from Eagle recently asked for information on mortgages.
Financial Advisors Lincolnshire
In Lincolnshire you can additionally find: Epworth investment advisors, Metheringham investment advice, Skegness investment advice, North Somercotes investment advice, Surfleet investment advisors, Stickney financial advice, Swineshead investment advice, Hibaldstow financial advisors, Holbeach Clough financial advice, Dunholme financial advice, Barrowby investment advice, Keelby investment advisors, Louth investment advice, Middle Rasen financial advisors, Colsterworth financial advice, Nocton investment advice, Caistor investment advice, Navenby financial advice, Sturton By Stow investment advisors, Heckington financial advice, Caythorpe investment advisors, Chapel St Leonards financial advice, Potterhanworth financial advice, Sutterton investment advisors, Wragby financial advisors, Heighington financial advisors, Ruskington investment advice, West Butterwick investment advice.
Financial Advisors Near Lincoln
Also: New Boultham financial advisors, Reepham financial advisors, Swanpool financial advisors, Canwick Hill financial advisors, Nettleham financial advisors, Washingborough financial advisors, Heighington financial advisors, Newland financial advisors, Burton financial advisors, Branston financial advisors, Cherry Willingham financial advisors, Waddington financial advisors, North Greetwell financial advisors, Skellingthorpe financial advisors, Ermine and more.
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Financial Advisors Around Lincoln: In the past 12 months financial advice was provided in the following Lincoln streets: St Hughs Close, Dogdyke Bank, Dowding Road, Century Lane, Sorrel Court, Somersby Close, St Faiths Street, Squires Place, Brookfield Avenue, Cliff Court, Aldergrove Close, Sewell Court, St Davids Close, Dalderby Crescent, St Johns Road, Calder Road, Sanders Close, Carlisle Close, Ashlin Grove, Trenchard Road, Skirbeck Drive, Thorpe Avenue, Southdown, Church View, Barff Road, Silver Street, Bangor Close, St Botolphs Court, Saxon Way, The Terrace, and in these Lincolnshire postcodes: LN1 1DZ, LN1 1JX, LN1 1HW, LN1 1AN, LN1 1QE, LN1 1EH, LN1 1AX, LN1 1DE, LN1 1RJ, LN1 1SQ.
To get local info about Lincoln, Lincolnshire check here
Independent financial advisor in LN1 area, and dialling code 01522.
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