Financial Advisor Penwortham Lancashire (PR1): It can be an intimidating experience trying to locate a good independent financial advisor in Penwortham, particularly if it is the very first time that you're in search of financial advice. Whether it is mortgage, investments, pensions or even insurance advice that you are looking for, there's one common rule for all professional financial advisors; they all have to adhere to Financial Conduct Authority (FCA) regulations. Any advice given from a FCA authorised financial advisor in Penwortham comes with the guarantee that if things go awry, you've got access to the Financial Services Compensation Scheme or the Financial Ombudsman.
A good starting point when choosing a financial advisor in Penwortham can be friends and relations, but bear in mind that the kind of advice you are searching for might be significantly different to theirs. Financial advice must be specifically tailored to your particular situation, and you will find that certain financial advisors may not be appropriate for your requirements. To investigate the various options they can provide and find a financial advisor that you can trust and feel comfortable with, it is a good idea to talk with at least three different firms, because selecting a financial advisor is a big decision.
There are two principal types of financial advisor in Penwortham; independent financial advisors and restricted advisors. An independent financial advisor will not be confined to a single provider's products and services. Encompassing the whole spectrum of financial products and companies, independent financial advice should be given in a frank and unbiased way to customers. This enables you to choose from the widest range of services to suit your needs. A restricted financial advisor might be involved with an individual product, as with a mortgage advisor, or be limited to services and products from a single company.
Before any financial advisor takes you on as a client, they're required by the FCA to tell you about their charges. You could be charged by the hour, a set fee or possibly even a proportion of your investment, depending on type of product you require. A free first consultation might be offered, so that you can discuss your goals and circumstances to determine whether the advisor is the right fit. In some of the larger Penwortham companies, you could find that your account is being handled by a team as opposed to an individual advisor.
To outline your financial situation and objectives to the advising company, you'll be required to fill out a "Fact Find" form, which is a confidential disclosure document. To provide information about the financial advisor, their status to offer restricted or independent advice and their range of permissions in the financial sector, you'll also be handed a Key Facts or Initial Disclosure Document. If you are not satisfied with the service provided, and wish to complain, this document should also set down your own rights and your options. It has to be typed out in plain English and detail what you're committing yourself to, and any potential benefits and risks should you opt to accept the offered advice. This document will also inform you of the cooling-off period. This enables you to have a change of heart within a specific time period, and cancel the contract with your financial advisor.
You'll want to check what qualifications and experience the financial advisor has when you first speak to them. After all you are on the verge of entrusting your long-term financial wellbeing to their skill, so you must not be self-conscious about asking these questions. A Level 4 qualification is the minimum certification for any Penwortham financial advisor, and they must also be able to show an annual Statement of Professional Standing. Don't freak out if your particular financial advisor's name does not appear on the Financial Services Register, so long as the firm is listed on the register, their personnel are covered by the regulations. If they are not able to supply this evidence, the person cannot offer advice but can offer financial guidance. Guidance isn't regulated in the way that financial advice is, which means that if mistakes occur neither party will have any recourse.
If it's investing money that you're interested in, the advisor will need to know the level of risk you are willing and able to accept with your hard-earned cash. Better rewards may be possible with high risk investments, however you could also lose all or some of your cash. In order to get the very best financial and investment advice, your savings goals will need to be carefully considered, i.e. short or long term investments, how much you wish to invest and how rapidly you need to access your funds. You should always ask yourself the one vital question, how much money can you really afford to lose. This could influence the services and products that could be offered for your consideration, and is generally known as your 'capacity for loss'.
You'll want to tell your financial advisor about any current mortgage loans, regular outgoings, investments or personal savings. To ensure that you get the best advice for you, they need to gather a full and clear picture of your finances. Good financial advice should allow for diversifying your investments and savings by spreading the risk across different products. So as to mirror your goals and financial circumstances, an experienced financial advisor in Penwortham will be aware of the best areas to consider.
Your financial advisor will attempt to communicate in the clearest possible way, while throwing open the complex world of finance. After comparing the various services and products which match your needs, you should be able to come to an informed and knowledgeable decision. If environmental issues are at the forefront of your mind, you could even ask that ethical savings and investments take top priority. You will then be able to steer clear of businesses that companies meet your requirements, and instead support those firms and organisations that match your concerns, for instance zero carbon or renewable energy.
It isn't that easy to work closely with a financial advisor in Penwortham without this affecting your work and other commitments. One-on-one meetings can be backed up with video conferencing and telephone calls to enable you to get advice at a time to suit you. An experienced financial advice company in Penwortham will have strict measures in place to keep your details confidential and secure, even if you hardly ever have a face-to-face meeting with your advisor, because home and remote working is now so common.
Investments can be a volatile area, and values can fall as well as rise. It can be extremely stressful and frustrating if your investment is not making as much money as you were hoping for. A downward spiral in your investment isn't a recognised cause for complaint, unless your financial advisor has supplied you with misleading or incorrect information.
Any complaints should start out with the firm's complaints procedure as detailed in the Key Facts Document. You can let the Financial Ombudsman know about the issue if it is unresolved within the time-frame set by the regulating authority, and the advisor is registered with the Financial Conduct Authority.
After reviewing the cause of the complaint, the Financial Ombudsman will come to a decision on the issue. If it is established that the complaint is legitimate, a decision will be made on how the customer can be financially compensated. The advisor and their company must abide by any decision that's made by the Ombudsman, which becomes legally binding once the client has accepted it. The Financial Ombudsman will also account for any distress, trouble, annoyance and inconvenience caused to the customer during the situation, and establish the level of compensation proportionately.
Financial advice can be provided in Penwortham and also in nearby places like: Penwortham Lane, Fulwood, Preston, Longton, Hutton, Moss Side, Bamber Bridge, Freckleton, Howick Cross, Lostock Hall, New Longton, Whitestake, Walmer Bridge, Lea, Ashton-on-Ribble, Lower Penwortham, and in these postcodes PR1 0WZ, PR1 0XN, PR1 0QP, PR1 0XS, PR1 0JS, PR1 0XE, PR1 0BN, PR1 0YD, PR1 9AF, PR1 0AS. Local Penwortham financial advisors will most likely have the dialling code 01772 and the postcode PR1.
Penwortham Financial Advice Services
There are a number of different services that can be provided by your local Penwortham financial advisor including corporate bonds, investment planning Penwortham, mortgage services Penwortham, income protection Penwortham, divorce planning, trusts in Penwortham, cash flow modelling, financial services in Penwortham, investment advice, pension advice, independent financial advice, inheritance tax planning in Penwortham, general financial planning Penwortham, pension consolidation in Penwortham, ISA's, unit trusts Penwortham, business planning, portfolio management in Penwortham, offshore investments in Penwortham, personal financial planning, trustee investment services, equity release advice, will writing services in Penwortham, financial analyst services, pension drawdowns, and more.
A Financial Advisor's Daily Tasks
- A financial advisor produces comprehensive financial reports.
- A financial advisor provides education, consultation and counselling regarding finances and investments.
- A financial advisor works in collaboration with colleagues to obtain trends, statistics and market information.
- A financial advisor recommends the best-suited financial products to customers.
- A financial advisor updates customers about their investments.
- A financial advisor keeps fully abreast of regulation changes and new products.
- A financial advisor collaborates with financial product providers.
- A financial advisor speaks with clients regarding their plans and finances.
- A financial advisor meets targets for performance and sales.
- A financial advisor keeps detailed records of potential transactions and clients.
Financial Advisors Near Penwortham
Also: Howick Cross financial advisors, Whitestake financial advisors, New Longton financial advisors, Freckleton financial advisors, Bamber Bridge financial advisors, Lower Penwortham financial advisors, Fulwood financial advisors, Walmer Bridge financial advisors, Hutton financial advisors, Ashton-on-Ribble financial advisors, Lea financial advisors, Lostock Hall financial advisors, Longton financial advisors, Preston financial advisors, Moss Side financial advisors, Penwortham Lane and more.
- Penwortham Corporate Financial Advice
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Financial Advisors Around Penwortham: Some Penwortham roads and areas where financial advice has recently been given - Bramble Court, Marina Drive, Ganton Court, Highfield Drive, Chestnut Avenue, Houghton Road, Abbot Meadow, Kensington Avenue, Round Acre, Kew Gardens, Forshaw Road, Giller Drive, Charnock Court, Moor Avenue, Bank Parade, Little Close, Links Road, Gleneagles Drive, Holme Road, Park Road, Brydeck Avenue, Golden Way, Conway Avenue, Emily Street, Pope Walk, Townlea Close, Oak Close, as well as the following Penwortham area postcodes: PR1 0WZ, PR1 0XN, PR1 0QP, PR1 0XS, PR1 0JS, PR1 0XE, PR1 0BN, PR1 0YD, PR1 9AF, PR1 0AS.
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Independent financial advisor in PR1 area, (dialling code 01772).
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