Financial advice is available from a variety of sources, but not all will work in your best interests and recommend financial products that are appropriate for your circumstances. Professional advisors should review your financial strategy affairs, take details of your current situation, objectives and risk attitude, and then send back a written report recommending products that meet your needs and explaining why they were recommended.
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Who can provide financial advice? Different consultants are qualified to provide different levels of advice. Independent financial advisors can choose the right product for you from across markets and don't have to be loyal to a particular provider, even if they specialize in certain areas such as mortgages, pensions, or investments.
How do you find suggestions from that information? Counselors should tell you their status and what kind of advice they can give at the start of your conversation. Some companies may ask questions to guide you to the type of product you need, but don't get confused by the financial summary.
Why Should You Work With a Regulated Financial Advisor? Financial advisors must be licensed by the FSA before they can legally trade. Regulation is important because it means companies have professional indemnity insurance, complaints procedures, and compensation schemes. If you file a complaint but do not reach a satisfactory agreement with the company, the complaint may be sent to the Office of the Financial Ombudsman for a decision.