What’s financial advice really like?

What’s financial advice really like?

Picture the scene – you’ve come into some money, but you’re not sure what to do with it. Savings rates are fairly low at the minute, but you don’t want your money to just sit there. You don’t see yourself as the financial advice type either (isn’t that just for people who read the Financial Times?). But actually, maybe you are.

Meet Mrs Cox

Let’s hear from someone with first-hand experience of taking financial advice.

So what can you expect?

Before the appointment

First we need to establish whether you need financial advice at all. So we’ll have an initial chat about what you’d like to achieve with your money, look at your incomings, outgoings, savings, investments and things like that.

If we don’t think you’ll benefit from it, we won’t refer you to a financial adviser. Instead, we’ll look at other ways we might be able to help you with your money. If we do think you’d benefit from it and you agree with us, we’ll make an appointment for you with an adviser.

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All of my meetings have always gone extremely well. You feel that you matter and are valued as a customer. You never feel pressurized or rushed into decisions. I cannot recommend my adviser highly enough.

Mrs. Clarke, Bolton Branch

The first appointment

This is where we really get to know you. Before your adviser makes any recommendations, they’ll find out how you feel about risk, e.g. how much money you’re prepared to risk and how much you can comfortably afford to lose. They’ll want to make sure you understand that accepting a higher risk could mean higher potential returns, but potentially higher losses too.

Our advisers will tell you that investing is about time. Not necessarily because the longer you invest the more money you could make, but also because it allows for fluctuations in the market. They 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 eventually recovered. That’s why they’ll usually recommend you invest for a minimum of five years.

After the appointment

The technical team researches from a large number of funds across the market and puts together a panel of funds. Your adviser can recommend funds from this panel that match how you feel about risk and (subject to your circumstances) are suitable for your needs.

You’ll receive your plan in the post, along with an invitation to go through it with your financial adviser. You can do this in the branch, by video link or they could come to your home – whichever’s best for you. If you haven’t watched Mrs Cox’s video at the top of the page yet, it will give you a good insight into what to expect when you get your plan.

Decision time, with no pressure from us

At this point, it’s over to you. You’ll need to decide whether or not you want to go ahead with the plan. There will only be a cost if you do. Our ‘No Pressure Promise’ puts you in the driving seat. So if you decide to walk away, that’s fine. We won’t pressure you into doing anything you don’t want or need.

The cost

If you do decide to go ahead with any of our recommendations, the cost will be based on the level and type of service we provide. What we mean by that is how complex or simple your journey is, and how much you want us to get involved in delivering it. Whatever happens, the charges will be explained clearly, so you’ll never be left in any doubt about what you’re paying for.

We hope that between us and Mrs Cox, we’ve given you a better idea about what financial advice is really like. And, when you are ready to take the first steps, we’ll be ready and waiting.

Get in touch and get started

For more information on our service and to find out whether you could benefit from financial advice, call our team today.