Get the Right Adviser for your Finances

Financial advice costs you whichever way you pay. This statement needs some explanation. Some Independent Financial Advisers are now charging fees for their services. This does not fit well with the majority of people who have always understood that these people were paid commissions by the companies which they represent.

As the squeeze increases on company margins and commissions are becoming less popular with the authorities, financial advisers with all the regulatory and compliance costs associated with that business are under great pressure to hold up their profitability. So the client needs to think very carefully about who he or she is dealing with. Either you chose to deal with a company appointed representative who can only deal with one company or you deal with an independent adviser who can offer products from the whole market.

Which is best? There is an old saying which definitely relates to a financial adviser . "People don’t care how much they know. They want to know how much they care." If you find an adviser who you trust then isn’t that person worth a fee for his time and expertise? He will forego any commission in your favour so that your investment or insurance plan is enhanced and you will know exactly where you stand.

On the other hand if you just allow that person to earn commissions then it could be they might not act in an ethical manner and line their pockets first, despite the fact that commissions have to be disclosed. This is not so outrageous a statement as it might seem. Banks, Brokers, and all sizes of business rely on volume bonuses. And who pays for that – the client. So, whichever choice you make – you pay!

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