Financial Advisor Torquay Devon (TQ1): If you're in search of financial advice for the first time, trying to locate a decent financial advisor advisor in the Torquay area can be a daunting experience. Whether you're looking for investments, pension, mortgage or even insurance guidance, all qualified financial advisors are bound by one simple rule; they must all observe the regulations laid down by the Financial Conduct Authority (FCA). This comes with certain guarantees, therefore after getting advice from a FCA authorised financial advisor in Torquay, you can seek recompense from the Financial Ombudsman or the Financial Services Compensation Scheme, if something should go wrong.
When selecting a financial advisor in Torquay, a good place to begin could be relatives and friends, but you must bear in mind that your situation may not be in line with theirs, and you may be in need of a different sort of advice. Financial advice must be individually tailored to your unique circumstances, and you will discover that certain financial advisors may not be suitable for your requirements. To explore the options they're offering and find a financial advisor you feel comfortable with and can trust, it is wise to chat to at least three different companies, because after all selecting a financial advisor is an important decision.
When it comes to picking a financial advisor in Torquay, there are basically two main types; independent financial advisors (IFA) and restricted advisors. An IFA won't be confined to a single provider's services or products. Encompassing the entire gamut of financial products and companies, independent financial advice should be offered in an impartial and unbiased way to customers. This will permit you to choose from the widest possible range of products to suit your needs. A restricted advisor might be focused on an individual product, as with a mortgage advisor, or be restricted to services and products from one particular provider.
Before any financial advisor in Torquay takes you on as a client, they are required by the Financial Conduct Authority to be transparent about their charges. Depending on the services you're looking for, you could be charged by the hour, a set fee or perhaps even a specific percentage of your investment. You will sometimes be offered the possibility of a free preliminary consultation to enable you to discuss your aims and determine whether the advisor is the correct fit for you and your circumstances. If you use one of the bigger Torquay firms, your account might be handled by a team of advisors rather than one person.
You will be required to fill in a "Fact Find" document, which is a confidential disclosure form relating your financial situation and targets to the advising company. You'll also be handed a Key Facts or Initial Disclosure Document, which provides you with information about the financial advisor, their status to offer independent or restricted advice and their scope of permissions in the financial sector. Your own rights should also be spelled out in this document, together with the options you can take if you want to complain because you are not satisfied with the service provided. It should be written in plain English and describe what you're signing up for, and any possible risks and benefits that exist if you opt to go along with the offered advice. The Key Facts Document should also inform you of the allowed cooling-off period. This allows you to have a change of heart within a certain number of days, and cancel the contract with your financial advisor.
You should check what qualifications and experience the financial advisor has when you first speak to them. Asking such questions should never be a cause for embarrassment, because after all you are entrusting them with your financial wellbeing. All financial advisors in Torquay must as a minimum hold a Level 4 qualification and be able to present an annual Statement of Professional Standing. You don't need to stress if your particular advisor's name does not show up on the Financial Services Register, so long as the company is on the register, their staff will be covered by the legislation. The person may still offer financial guidance as opposed to advice, if these can't be presented. Guidance isn't regulated in the way that financial advice is, meaning that if mistakes are made the client won't have any recourse.
If you're seeking advice on investing money you will be asked the amount of risk you are comfortable with. Bigger rewards may be possible with higher risk investments, but you stand a greater chance of losing some or all of your cash. In order to get the best financial and investment advice, your savings aims will need to be given careful consideration, i.e. long or short term investments, how much you wish to invest and how quickly you need to access your money. "How much money can you afford to lose?" Is the one important question that you should really be asking yourself. This is known as your capacity for loss and could influence the products and services that are offered to you.
If you've already got any existing mortgage loans, investments, regular outgoings or personal savings, you have to let your financial advisor know about these. They will need these details, so they can get a clear picture of your financial situation and give the best advice for your needs. Sound financial advice should allow for diversifying your investments and savings by spreading the risk across a number of different products. A seasoned financial advisor in Torquay will have the knowledge of the best areas to consider, which match your goals and your financial situation.
Communicating in the clearest possible way, your financial advisor will throw open the multifaceted world of finance and investment. After comparing the products and services that match your needs, you should be able to make an informed and intelligent decision. You could ask your financial advisor to only choose ethical investment and savings schemes. This does not just give you investment possibilities, but also allows you to support green energy or zero carbon projects, and stay away from those that do not share the same values that you do.
Having constant interactions with your financial advisor in Torquay could cause issues with your work day and other commitments. To allow you to seek advice at times that suit you, face-to-face appointments can be supplemented with telephone calls and video conferencing. Even if you hardly ever have a one-to-one meeting with your personal advisor, an established financial advice company in Torquay will have rigorous measures in force to ensure your details are kept confidential and secure, because remote and home working is now so common.
Investments can go down as well as up, since the financial sector can be a volatile one. If it just so happens that your investment is not making the amount of money you hoped for, it can be a stressful and demoralising time. However, unless it's due to wrong or misleading information from your advisor a downward spiral in your investment is not seen as a cause for complaint.
Any complaints should begin with the company's official complaints procedure as described in the Key Facts Document. You can inform the Financial Ombudsman of the issue if it is unsolved within the time schedule stipulated by the regulating body, and your financial advisor is a member of the Financial Conduct Authority.
The Financial Ombudsman will come to a decision after independently reviewing the cause for complaint. If the complaint is justified, a decision will be made on how to financially compensate the client. The financial advisor and their firm must comply with any decision that's made by the Ombudsman, which becomes a legally binding decision once the customer has accepted it. The Financial Ombudsman will also take into consideration any distress, upset, hassle and inconvenience caused to the customer during the dispute, and set the level of compensation accordingly.
Financial advice can be provided in Torquay and also in: Torre, Hele Cross, Babbacombe, Cockington Village, Combe Pafford, Tweenaway, Shaldon, Marldon, Barton, Watcombe, Edginswell, Shiphay, Kingskerswell, St Marychurch, Hollicombe, Maidencombe, Paignton, together with these postcodes TQ1 1AJ, TQ1 1NG, TQ1 1PJ, TQ1 1BN, TQ1 1JU, TQ1 1SU, TQ1 1PX, TQ1 1QX, TQ1 1SY, TQ1 1BS. Local Torquay financial advisors will probably have the telephone dialling code 01803 and the postcode TQ1.
Torquay Financial Advice Services
There is a variety of services which are provided by your local Torquay financial advisor including annuities Torquay, family income benefit Torquay, pension transfer advice, pension drawdowns in Torquay, business financial planning, investment plans, independent financial advice, mortgage advice, bridging finance in Torquay, offshore investments in Torquay, pension advice, stakeholder pension advice Torquay, financial planning, portfolio management, pension planning Torquay, retirement planning, equity release advice Torquay, corporate financial planning, unit trusts Torquay, long term care fee advice, cashflow analysis, cheap financial advice, investment advice, general financial planning, cash flow modelling, and more.
A Financial Advisor's Daily Duties
- Keeping up to date with regulation changes and new financial products.
- Researching financial products and explaining them simply and clearly to customers.
- Updating customers regarding their investments.
- Negotiating with providers of financial products.
- Meeting targets for sales and performance.
- Keeping detailed records of potential clients and transactions.
- Speaking with customers about their finances and plans.
- Providing counselling, education and consultation regarding investments and finances.
- Producing comprehensive financial reports.
- Working in collaboration with colleagues to obtain trends, statistics and market information.
Devon Financial Advisors
In the Devon area you will also discover: Barnstaple financial advice, Cornwood financial advisors, West Hill financial advice, North Molton investment advisors, Chudleigh Knighton investment advisors, Abbotskerswell financial advice, Abbotskerswell investment advisors, Marldon financial advisors, Torbryan investment advisors, Great Torrington financial advice, Newton Ferrers investment advice, Kilmington financial advisors, Hartland financial advisors, Kenn financial advisors, Sandford investment advice, Braunton investment advisors, Budleigh Salterton financial advice, Bampton investment advice, Topsham financial advice, Wembury investment advisors, Uffculme financial advisors, Walkhampton financial advice, Shaldon financial advice, Ilfracombe financial advisors, Torbryan financial advisors, Culmstock financial advisors.
Financial Advisors Near Torquay
Also: Watcombe financial advisors, Combe Pafford financial advisors, Cockington Village financial advisors, Hele Cross financial advisors, Babbacombe financial advisors, Shaldon financial advisors, Tweenaway financial advisors, Marldon financial advisors, St Marychurch financial advisors, Shiphay financial advisors, Hollicombe financial advisors, Edginswell financial advisors, Torre financial advisors, Barton financial advisors, Maidencombe financial advisors, Kingskerswell financial advisors, Paignton and more.
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Financial Advisors Around Torquay: In the previous twelve months financial advice was provided in these Torquay streets: St Annes Road, St Vincents Road, The Vinery, Birch Walk, Bexley Lane, Sherwell Rise South, Summerfield Road, Bove Park Road, Stentiford Hill Road, Teignmouth Road, Stone Court, Sherwell Valley Road, Carlton Mews, Brim Hill, Denys Road, Dorchester Grove, St Margarets Avenue, Sherwell Park Road, St Lukes Park, Den Brook Close, The Arcade, Chelston Road, Suncrest Close, St Lukes Road North, Burleigh Road, Dosson Grove, Culvery Green, Beechfield Avenue, The Palms, and in these Devon postcodes: TQ1 1AJ, TQ1 1NG, TQ1 1PJ, TQ1 1BN, TQ1 1JU, TQ1 1SU, TQ1 1PX, TQ1 1QX, TQ1 1SY, TQ1 1BS.
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Torquay Financial Advisor Jobs: See financial adviser jobs in Torquay by going here: Torquay Financial Advisor Jobs
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Independent financial advisor in TQ1 area, 01803.
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