Whether you are looking to make your first investment or to increase your current portfolio, there are many benefits to using an independent financial advisor to get the best possible return on your investment or savings. A restricted advisor will only be able to advise you on certain products or services, so it is worth checking before investing.
An independent financial advisor will be looking at you as an individual and therefore will cater to your particular needs or situation. While some independent advisors will specialise in areas such as estate or tax, for example, others will see your financial portfolio as a whole. Often personal finance issues are complex and need an expert service to understand how they work as well as how to best invest.
Building a Relationship
Your independent financial advisor Wiltshire will be there to build a relationship with you over time. This will help them understand your needs and goals as well as have accountability to you and your investments. It is in both your advisor’s and your interest to create a strong working relationship so that they can better understand your financial needs and advise accordingly.
By being independent, financial advisors will get to know a range of products available on the market that may not be offered by your high street bank or an advisor employed by another company. This means that they can let you know the best offers that are available but also add that reassurance that you are being offered a service in your best interest rather than the interests of a third party.
Usually, an independent financial advisor Wiltshire will charge fees, which means there is a financial incentive to grow a client’s investment. This model of working is simple and transparent, which supports the client relationship. Equally, your money is held by an independent custodian to provide an additional safeguard. Using an independent financial advisor is also likely to save you money in the long term through their understanding of the market as a whole.
Finally, independent financial advisors are held to industry standards that protects you as their client. This means that they are required to put their clients’ needs and interests first at all times and will always act accordingly.