Understanding Different Types of Financial Advisers.
The Financial Regulators have gone to great length over the last few years to ensure that financial advice is explained as clearly and transparently as possible to consumers. Despite this however, it is still important to check the nature of advice offered by different financial companies so it is clear the basis on which guidance is provided and that the options and restrictions are clearly identified.
Other types of restricted advisers may give advice on more than one area, but will only have access to a limited number of providers. This means you won't be getting recommendations from the whole of the market. If you visit a restricted adviser, it is essential that the adviser explains exactly what service he or she is providing to you. The status of advisers is not always as clearly stated as it might be so it is important to ask whether a firm is restricted in any way and if so in what way.
It is also important to understand whether a financial advice firm is directly regulated or whether it is an appointed representative of another Company. Whilst this is often overlooked Companies who are appointed representatives may also have an additional layer of costs compared with directly regulated companies when offering advice. Once more this is not always clear from the company literature.
For more information or to arrange an appointment with a Financial Adviser please contact us on Tel: 01548 531899 or e-mail: firstname.lastname@example.org or via the website.
By Sabre Financial | Thursday, December 08, 2016