Tips to achieve an Independent View

As is well documented we are living longer and interest rates remain at relatively low levels. For those of us who are looking at what this means when we retire - it means we need a bigger pot of gold. To help you make the difficult decisions about what to invest where, it is important to take advice from someone you trust who is professional, reliable and impartial.

Here are some tips that you should consider before instructing someone to deal with your affairs:

1. Listen to friends whose opinion you value. If you have friends who already have a successful arrangement with a financial adviser, talk to them and ask for the financial adviser's telephone number.
2. If you are selecting a financial adviser from one of the directories, ensure you visit at least two or three organisations. The first meeting may be a bit daunting and for this reason we suggest you meet at the financial adviser's office.
3. IFA v tied agents - Independent Financial Advisers are required to give you unbiased advice in relation to any financial products they recommend to you whereas tied agents will only recommend their employer's products. If you are looking for independent advice you should always refer to an IFA.
4. Before meeting your prospective adviser, think about the meeting and draft up a list of questions.
5. Once you have appointed an adviser then ensure you both review your affairs regularly. If your affairs are straightforward then it may just mean a telephone call every six months.
6. If any aspect of your financial affairs is causing you concern, then call your adviser. It may just be a misunderstanding, or it may be something, which needs action.
7. If you would like to talk to someone independent about the types of investments you should be holding, try talking to a firm of professional accountants like ourselves. As we do not sell products ourselves or take commission we can give you an unbiased opinion.

If you would like to receive impartial advice concerning your personal financial and tax affairs then please contact us.