Insurance

The Right IFA Can Walk You Through Life

It wouldn’t be right to imply that health is as important as money, but the matter is just as sensitive. While you wouldn’t fix a broken leg or treat a disease yourself, you may be able to calculate a budget, set aside some savings, or make investment decisions yourself. But there are many risks involved with money that could change your whole future. Almost every major decision you make in your life involves money. At the same time you need to save enough for its time for you to retire. You’ve worked hard for that money. Soaring inflation, the perilous economy, and the tax black hole are just a few of the things you need to protect it against.

But who has the time to get educated on the myriad financial paths that can be taken, with a full-time job, parents, kids, mortgage, and other responsibilities? This is why opting to enlist the services of an independent financial advisor is a smart move in taking control of your future. Independent financial advisors, or financial consultants specialize in the field of, you guessed it, finances!

They have in-depth knowledge of the types of investment products available, the risks involved in each one, and the latest market happenings. If you are contemplating venturing into the complex world of retirement planning, wading through the sea of pension information can be daunting. A good, trustworthy, and qualified independent financial adviser will take into account your income, circumstances and your ability to take risks. An adviser will lay down impartial facts, give you the best advice to his or her knowledge, and then leave it to you to decide on where you want your money to be invested.

However, you will need to do some homework before you entrust someone with facts about your life and finances. There are three types of financial advisers. Tied advisors work for a bank or insurance company and are only authorised to inform you about investment products sold by their company. Multi-tied advisors are a step on and are limited to a list of companies that they work for, only being able to advise you of investment products sold by those companies.

Even pension providers will give you Pension Information that may be slightly tilted towards the schemes they provide only. An independent financial adviser, who has been licensed and regulated by the Financial Services Authority, will act as a representative of you, the client. An IFA’s advice will not be based on the commission he/she earns from the products he sells, but rather commission from consultancy with you. An IFA will give you a range of products to choose, from pension information to the hottest commodity in the market to invest in, all the while keeping in the amount of money you can contribute and your aversion to risk.

Your chosen IFA may be the one with whose help you make the most important decisions in your life. Make sure you do a background check on the adviser, from education and qualifications, to experience and track record. Don’t hesitate to get a reference from a family member or trusted friend. But settle after much consideration. A trustworthy independent financial adviser, like your family doctor, will become very much be a part of your life!
Independent Financial Advisers Chelmsford will provide you with trusted, comprehensive advice.

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