Often a situation arises in one’s life when you are not very confident to handle your money all by yourself. You may not be too sure about the option that you should choose, which will take care of your future needs.
These days, there are several financial products available in the market and for a person having no financial knowledge, it may be quite difficult to decide where he should invest his money to get a safe return.
PMW is one of the certified financial planners, who is an independent and trustworthy financial adviser available in Kent.
You can visit any such financial adviser for getting the following help:
- Planning for your retirement
- Saving or investing your money
- To obtain maximum benefits out of your lump sum money obtained through inheritance or a redundancy payment
- Planning to buy a property and interested to take out a mortgage
- Your life has changed due to marriage, family expansion, getting divorced or you are a widow and lost your earning partner.
Types of financial adviser
Most financial advisers will try to look at all your present personal situation and also ask you to find out what are your current financial plans.
Based on your situation and also your future needs, they will recommend suitable financial products so that it can help you meet all your needs.
Generally, you will find 2 types of financial advisers available in the market:
1. Independent financial advisers (IFAs)
Such kind of adviser will offer you unbiased advice about all the different ranges of financial products that are available in the market from various companies available.
2. Restricted financial advisers
This kind of advisers will generally offer advice on a very limited range of financial products. Usually, they deal with certain specialised in one or two areas.
Some of the areas for example can be regarding pensions. Some of them can also offer advice on certain financial products that is offered by a few limited number of companies.
However, it is best to seek advice from an independent financial advice who will offer you a broader view about the financial market.
This will help you to look at the widest product ranges and you can seek advice on any chosen products of your choice.
How to ensure that you get the right advice?
It is important to know whether your financial adviser is giving you the right advice or not.
Make sure that whatever financial products your adviser recommends must be:
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- Affordable for you
- You must decide whether you want to invest for the longer or shorter term
- Whether you are comfortable with the amount of risk that you need to take
- Consider whether you have to pay any additional tax.
You may lose your money if your adviser ignores your points and recommends a certain product that is not suitable for you. So, you need to be vigilant about this matter.
All of us need certain financial advice at some point in our life. There are many financial advisers available on the market, however, you must consult an adviser whom you can trust because at the end of the day, it is your money.