Financial Advisor Rowley Regis West Midlands (B64): It can be an intimidating experience trying to locate a good financial advisor advisor in the Rowley Regis area, in particular if it's the first time that you are needing financial advice. Nevertheless, all professional financial advisors have one thing in common; they must all adhere to the regulations laid down by the Financial Conduct Authority, regardless of whether you are searching for mortgage, investment, pension or even insurance advice. The good thing about this is that if a financial advisor who is FCA certified gives you bad advice, and anything goes wrong, you've got guarantees, and can get in touch with the Financial Services Compensation Scheme or the Financial Ombudsman to get things put right.
A good starting point in choosing a financial advisor in Rowley Regis could be family and friends, but remember that the kind of advice you are looking for might be different to theirs. Every financial advisor is not suitable for everybody, and any advice they provide should be tailored to your specific situation. To investigate the options that they are offering and find a financial advisor that you feel comfortable with and can trust, it is a good idea to speak to at least three different companies, because selecting a financial advisor is a major decision.
When you are looking to pick a financial advisor in Rowley Regis, there are 2 main types; independent financial advisors (IFA) and restricted advisors. The benefit of using an independent financial advisor is that they won't be limited to the products and services of a single provider, and can offer a wider range of options. Independent financial advice must encompass the full gamut of financial products and companies, and must be offered in an impartial way. If you opt to use an independent financial advisor, you'll be able to select from the broadest possible range of services, in order to find the ideal solution for your needs. A restricted financial advisor might be focused on an individual product, as with a mortgage advisor, or be restricted to services and products from a single provider.
Before taking you on as a client, any financial advisor must discuss their charges with you, as required by the Financial Conduct Authority. Although it can vary dependant upon the kind of service or product you're interested in, there may be a set fee, an hourly rate, or you may even be charged a percentage of the money you are investing. You could be offered a free first consultation to enable you to discuss your aims and see if the advisor is the correct fit for you and your circumstances. In some larger Rowley Regis firms, you might find that your account is handled by a team rather than an individual advisor.
To summarise your financial situation and objectives to the advising firm, you will be required to complete a "Fact Find" document, which is a confidential disclosure form. You will also be given an Initial Disclosure, or Key Facts Document, which provides information about the financial advisor, their status to offer restricted or independent advice and the scope of their permissions in the financial sector. If you're not happy with the service, and wish to complain, this document will also lay down your own rights and your options. It should detail exactly what you are signing up for, and any possible risks and benefits should you opt to accept the advice offered, and it has to be set down in clear language. The Key Facts Document must also inform you about the level of cooling-off period. Within a certain period of time, this permits you to cancel the agreement.
You should check what experience and qualifications the financial advisor has the first time you talk to them. Asking these questions should never be a cause for embarrassment, because after all you're entrusting them with your long-term financial wellbeing. All Rowley Regis financial advisors must hold at least a Level 4 qualification and be able to present an annual Statement of Professional Standing. You should not freak out if your advisor's name does not show up on the Financial Services Register, so long as the firm is on the register, their employees will be covered by the regulations. If they are unable to supply these accreditations, the individual cannot offer advice but only financial guidance. In financial terms guidance is somewhat different to advice and is not regulated. Therefore there isn't any recourse for the client if errors arise.
You'll be asked the level of risk you are willing to take, if you are seeking advice on investments. Many investments carry some degree of risk, but high risk investments could offer higher rewards, and also more likelihood of losing some or all of your cash. In order to get the most beneficial financial and investment advice, your savings objectives will need to be considered, i.e. how quickly you need to access your funds, short or long term investments and how much you wish to invest. The one question that you should ask of yourself, which is often overlooked, is just how much you can actually afford to lose. Generally known as your 'capacity for loss', this will quite likely influence the services and products that you are offered.
From the outset, it is vital that you tell your financial advisor about any existing investments, regular outgoings, mortgage loans or personal savings that you have. To make certain that you get the best advice for you, they need to have a clear and full picture of your finances. Reliable financial advice should allow for diversifying your investments and savings by spreading the risk load across a number of different products. So as to match your financial situation and goals, a competent financial advisor in Rowley Regis will be aware of the best products to consider.
Communicating in the plainest speech possible, your financial advisor will throw open the complex world of finance and investment. After learning about the various services and products that meet your needs, you should be in a position to come to an informed and calculated decision. If environmental issues are important to you, you could maybe ask that ethical investments and savings take top priority. You can then keep clear of firms that investments meet your requirements, and instead lend your support to those companies and enterprises that address your concerns, for instance green energy or zero carbon.
Having a close working relationship with a financial advisor in Rowley Regis could create issues with work and other obligations. One-on-one appointments can be augmented with telephone and video conferencing to enable you to get advice at a time to suit you. Even if you rarely have an in-person meeting with your advisor, a professional financial advice firm in Rowley Regis will have stringent measures in force to ensure your details are kept secure and confidential, because home and remote working is now a large part of our society.
Investments can be a volatile area, and their values could fall as well as rise. If it just so happens that your investment isn't making as much money as you hoped for, it can be a very worrying and disheartening time. A downward trend in your investment is not a recognised grounds for complaint, unless your advisor has supplied you with incorrect or misleading information.
As indicated in the Key Facts Document, any complaints should start with the firm's complaints procedure. You can tell the Financial Ombudsman about the problem if it remains unsolved within the period set by the regulating body, and the advisor is a member of the Financial Conduct Authority.
The Financial Ombudsman will independently review the cause of the complaint and make a ruling. If the complaint is upheld, a decision is made on how to financially compensate the customer. On acceptance by the client, the decision becomes a legally binding one, and the financial advisor and their firm must abide by it. The Financial Ombudsman will also take into consideration any inconvenience, upset, distress and trouble caused to the client during the dispute, and set the level of compensation accordingly.
Financial advice can be provided in Rowley Regis and also in: Combeswood, Gornalwood, Quarry Bank, Primrose Hill, Bristnall Fields, Springfield, Wollescote, Old Hill, Causeway Green, Oldbury, Darby End, Haden Cross, Blackheath, Bearwood, Quinton, Hurst Green, together with these postcodes B65 0DE, B65 0LP, B65 0PP, B65 0LR, B65 0QZ, B65 0AW, B65 0DJ, B65 0AH, B65 0RS, B64 6RN. Local Rowley Regis financial advisers will probably have the postcode B64 and the dialling code 0121. Simply click on the "enquiry" form or banner to get info on financial advisors in your area.
Rowley Regis Financial Advice Services
There are a wide array of services that are provided by your local Rowley Regis financial advisor including wealth management & investments, investment planning in Rowley Regis, unit trusts, life assurance, trusts, ethical investments, pension plans in Rowley Regis, tax financial planning, stakeholder pension advice, cashflow analysis, inheritance tax planning, income protection Rowley Regis, cash flow modelling in Rowley Regis, pension drawdowns, long term care fee planning, pension transfers, ISA's, divorce planning, investment planning, pension planning, financial planning, business planning, will writing services Rowley Regis, trustee investment services, financial advice services, and lots more.
Essential Skills for Financial Advisors
- To have active listening skills.
- Effective customer service skills for determining client needs and requirements.
- An excellent knowledge and understanding of economics and accounting associated with financial products and markets.
- To have excellent IT skills.
- To be able to network and build solid relationships with customers.
- To pay attention to detail and be thorough.
- The ability to sell products and services.
- Good verbal communication skills.
- Excellent management skills for the negotiation of product fees.
- A competent level of numeracy for producing financial packages.
- To have a flexible work ethic.
Financial Advisors Near Rowley Regis
Also: Hurst Green financial advisors, Haden Cross financial advisors, Combeswood financial advisors, Darby End financial advisors, Quinton financial advisors, Oldbury financial advisors, Blackheath financial advisors, Quarry Bank financial advisors, Primrose Hill financial advisors, Bristnall Fields financial advisors, Causeway Green financial advisors, Old Hill financial advisors, Gornalwood financial advisors, Bearwood financial advisors, Springfield financial advisors, Wollescote and more.
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Financial Advisors Around Rowley Regis: Over the last twelve months financial advice was provided in the following Rowley Regis streets: St Giles Avenue, Durham Road, Springfield Close, Downing Close, Crown Close, Terrace Street, Church Walk, Truro Close, Curral Road, Balmoral Way, Angela Avenue, Beet Street, Blue Stone Walk, Sandringham Drive, Clent Hill Drive, Crendon Road, Chillington Walk, Shepherds Fold, Cornfield Place, St Lukes Close, Titford Lane, Stilehouse Crescent, Blackberry Lane, St Johns Avenue, and in these West Midlands postcodes: B65 0DE, B65 0LP, B65 0PP, B65 0LR, B65 0QZ, B65 0AW, B65 0DJ, B65 0AH, B65 0RS, B64 6RN.
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Independent financial advisor in B64 area, (dialling code 0121).
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