What's a financial review really like?

Financial advice is as much about the relationship between you and your adviser as it is about your money. Your adviser will get to know you, explore your current financial situation, learn about your aspirations and look for ways to help you achieve your goals.

Advisers sometimes use the kitchen analogy to explain the different ways people save:

  • Pantry: the ‘easy-to-get to’ cash for things like emergencies, hobbies and repairs.
  • Fridge: short-to-medium term savings for things like travelling, weddings and new cars.
  • Freezer: long-term saving for things like pensions, inheritance, second homes and care costs.

  1. Your attitude to risk

    Before your adviser makes any recommendations, they’ll find out what your risk appetite is. This involves a 10-point questionnaire, which looks at how much you’re prepared to risk and can comfortably afford to lose should the worst come to the worst. Your adviser will also explain that accepting a higher risk could mean higher potential returns, but also the greater potential losses. So, it’s important to match how you feel about risk and reward with the investments your adviser recommends. The element of risk means financial advice isn’t for everyone.

  2. How long to invest for

    The mantra in financial services is that investing is a long-term strategy – not necessarily because the longer you invest the better the potential returns – but also because it allows for fluctuations in the market. Your adviser might use examples like the Lehman Brothers bankruptcy, 9/11 and Black Monday to illustrate how people panicked, cashed-in their shares and lost out when the markets recovered. That’s why they’ll usually recommend you invest for a minimum of five years.

  3. Investment products

    You might be surprised to learn we don’t offer our own investment products. Instead, we research thousands of products from across the market and build a panel of funds to choose from. Your adviser will use their expertise and make recommendations from the panel that suit your personal circumstances.

The end of the appointment

You don’t have to act on the advice you’re given and you won’t be charged anything unless you decide to follow our recommendations.

“We were really impressed with how knowledgeable our Skipton financial adviser was. She knew the market extremely well and gave us clear advice. She came to our house at a time to suit us, answered our questions patiently, and even brought colouring books to keep our kids entertained. There was absolutely no pressure to follow her advice.”

Mrs Silcock, West Yorkshire

Call now for a free consultation

For more information on our service and to find out whether you could benefit from financial advice, call our specialist team today for a quick and free consultation over the phone.

0800 731 5342
Request a call back

Our recommendations are likely to include stock market-based investments. These are not like bank and building society savings accounts as your capital is at risk and you may get back less than you invested. The value of your investments and any income from them may fall as well as rise. Inheritance tax thresholds depend on your individual circumstances and may change in the future. Some areas of inheritance tax planning are not regulated by the Financial Conduct Authority.

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