Financial Advisor Newtownards Northern Ireland (BT22): It can be a daunting experience trying to locate a reliable independent financial advisor in the Newtownards area, particularly if it's the first time that you're in search of financial advice. Whether you are looking for mortgage, pension, investment or even insurance guidance, all financial advisors have one thing in common; they must all adhere to the regulations of the Financial Conduct Authority (FCA). The good thing about this is that if a financial advisor who is FCA authorised gives you bad advice, and anything goes awry, you have guarantees, and are able to get in touch with the Financial Ombudsman Scheme or the Financial Services Compensation Scheme to get it put right.
When selecting a financial advisor in Newtownards, a decent place to start could be neighbours and friends, however you must bear in mind that your circumstances may not be in line with theirs, and you might be in need of a different sort of advice. Any advice they provide needs to be personalised to your specific circumstances, and every financial advisor isn't suitable for everyone. To investigate the options they're offering and find a financial advisor you can trust and feel comfortable with, it pays to talk to at least 3 different companies, because after all choosing a financial advisor is a big decision.
Restricted advisors and independent financial advisors (IFA), are the two main types of financial advisor in Newtownards. Offering a broader range of options, an independent financial advisor will not be restricted to just one provider's services or products. Independent financial advice must be offered in an honest and impartial way and across the whole gamut of financial companies and products. Using an independent financial advisor should permit you to choose from the broadest possible array of products. A restricted financial advisor might be focused on a single product, such as a mortgage advisor, or be limited to products and services from a particular firm.
The FCA demands that any financial advisor in Newtownards must tell you about their charges, before taking you on as a client. Although it can vary based on the type of service or product you're looking for, there may be an hourly rate, a set fee, or you could even be charged a specific percentage of what you're investing. You may be offered a free first consultation to allow you to discuss your objectives and determine whether the advisor is suitable for your situation. If you go to one of the larger Newtownards companies, your account could be managed by a team of advisors rather than one individual.
To summarise your aims and financial situation to the advising firm, you will need to fill in a "Fact Find" form, which is a confidential disclosure document. An Initial Disclosure, or Key Facts Document will also be handed to you, providing details about the financial advisors themselves, detailing their scope of permissions in the financial sector and their status to offer restricted or independent advice. This document will also set down your own legal rights and your options if you aren't happy with the service, and want to complain. It should outline precisely what you're signing up for, and any potential risks and benefits that exist if you opt to take the offered advice, and it has to be set down in plain English. You will find the amount of cooling-off period in the Key Facts Document. This makes it possible for you to cancel the agreement within a certain time period, and if any penalties have to be paid.
When talking to the financial advisor for the first time ensure that you check their experience and qualifications. After all you are just about to entrust your financial future to their expertise, so you should never be self-conscious about asking such questions. All financial advisors in Newtownards must as a minimum hold a Level 4 qualification and be able to present an annual Statement of Professional Standing. When checking the Financial Services Register, don't panic if your advisor's name doesn't show up on there; you should be able to find the company name, and that means the regulations covers all of their staff. The individual may still offer financial guidance rather than advice, if these can't be provided. Guidance differs to advice as it isn't regulated, and if errors occur there may be no recourse to either party.
If it's investments that you're interested in, the advisor will need to know the amount of risk you might be ready and able to take on with your hard-earned money. Larger rewards could be possible with higher risk investments, however you stand a greater chance of losing all or some of your cash. Decent financial and investment advice will take you savings objectives into consideration, 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 of yourself, which is frequently overlooked, is just how much money you can really afford to lose. This is called your 'capacity for loss' and might affect the services and products that could be offered for your consideration.
If you have already got any existing mortgages, savings accounts, regular payments or investments, you have to let your financial advisor know about these. This will give a clear and full picture of your current financial situation, without which the advice you're given may not be the best for you. Spreading the risk across various products by diversifying your savings and investments, is something that reliable financial advice should allow for. With an understanding of the best areas to consider, a seasoned financial advisor will favour products that fit in with your goals and financial situation.
Communicating in the plainest speech possible, your financial advisor will unmask the complex world of investment and finance. This will allow you to compare services and products which match your needs, and come to an informed decision. If the environment is at the forefront of your mind, you could ask that ethical savings and investments take top priority. This allows you to give your support to enterprises and companies that address your concerns, e.g. zero carbon or green energy, or perhaps staying away from businesses that don't meet your standards.
It's not that easy to have a close working relationship with a financial advisor in Newtownards without this affecting your work life and other responsibilities. This can be reduced by augmenting one-on-one meetings with video conferencing and telephone calls, thus enabling you to seek the guidance you need at times that are convenient. Even if you hardly ever have a one-to-one meeting with your personal advisor, an experienced financial advice company in Newtownards will have stringent measures in place to keep your details secure and confidential, because remote and home working is now a large part of our society.
Investments can go down as easily as they can go up, since the financial sector can be a volatile one. If it just so happens that your investment isn't making as much money as you were hoping for, it can be an extremely demoralising and worrying time. A downward spiral in your investment is not a recognised grounds for complaint, unless your financial advisor has given you wrong or misleading information.
The company's complaints procedure should be the best place to start with any grievances, and the Key Facts Document will clarify this. If the matter is unresolved within the time-frame set by the regulating authority, and your advisor is a member of the FCA, you can contact the Financial Ombudsman.
After reviewing the cause of the complaint, the Financial Ombudsman will make a ruling on the issue. If it is found that the complaint is legitimate, a decision is made on how the client can be compensated or the situation rectified. Once the ruling has been accepted by the customer it becomes a legally binding decision that the advisor and their company, must comply with. Any distress, inconvenience, hassle and upset caused to the client during the situation, will be considered when the Ombudsman sets the level of compensation.
Financial advice can be provided in Newtownards and also in: Scrabo Tower, Holywood, Ballygowan, Comber, Ballywater, Conlig, Bangor, Crawfordsburn, Castlereagh, Greyabbey, Millisle, Belfast, Carrowdore, Groomsport, Donaghee, Dundonald, Helens Bay, and in these postcodes BT23 4NQ, BT23 4JS, BT23 4ND, BT23 4NT, BT23 4GF, BT23 4HZ, BT23 4LJ, BT23 4AE, BT23 4GJ, BT23 4FL. Local Newtownards financial advisors will likely have the dialling code 02891 and the postcode BT22.
Newtownards Financial Advice Services
There is a wide range of services that can be provided by your local Newtownards financial advisor including bridging finance Newtownards, pension planning in Newtownards, divorce financial planning, cashflow analysis Newtownards, cash flow modelling, pension transfers Newtownards, mortgage financial planning Newtownards, investment advice, retirement plans in Newtownards, annuity purchases Newtownards, financial planning, wealth management & investments, trustee investment services in Newtownards, life insurance, mutual funds, family income benefit, will writing services, investment bonds, pension planning, tax financial planning, income protection, investment advice in Newtownards, trusts, equity release advice Newtownards, investment plans, and more.
Financial Advisors Near Newtownards
Also: Belfast financial advisors, Ballygowan financial advisors, Conlig financial advisors, Greyabbey financial advisors, Holywood financial advisors, Groomsport financial advisors, Carrowdore financial advisors, Bangor financial advisors, Scrabo Tower financial advisors, Dundonald financial advisors, Comber financial advisors, Millisle financial advisors, Helens Bay financial advisors, Crawfordsburn financial advisors, Castlereagh financial advisors, Donaghee financial advisors, Ballywater and more.
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Financial Advisors Around Newtownards: Folks living in the following roads have recently enquired about financial advice - Movilla Road, East Street Court, Fitzjames Park, Drummond Park, Cairndore Crescent, Heron Ridge, Turnstone Heights, Priory Mews, Kilbeg Walk, Tudor Abbey, Teal Park, Cairndore Walk, Conway Court, Millers Park Drive, Old Movilla Road, Canberra Gardens, Abbey Road, Stirling Avenue, Mountain Park, Ballyblack Road, Cronstown Cottage Avenue, Raceview Terrace, Stranmore Avenue, Hazelwood Drive, Old Forge Park, Ringhaddy Avenue, Ravenhill Lane, Earlswood Drive, Tullynagardy Park, Tullynagardy Avenue, as well as the following local Newtownards postcodes: BT23 4NQ, BT23 4JS, BT23 4ND, BT23 4NT, BT23 4GF, BT23 4HZ, BT23 4LJ, BT23 4AE, BT23 4GJ, BT23 4FL.
If you would like to get local information regarding Newtownards, Northern Ireland check here
Independent financial advisor in BT22 area, and dialling code 02891.
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