Are Financial Advisors Regulated
Since a financial advisor's job is to give you advice and you should be trusting them since you’re paying them for their service, we assume you’d want to know why you should go into the consultation fully trust financial advisers.
The answer is as easy as financial advisers are regulated and that allows them to legally give you financial advice as they are trained to do so. Should any financial advisers not be regulated, they are legally not allowed to give you any financial advice. Neither should you be seeking any advice from them!
All financial advisers must legally hold qualifications recognised by the Financial Conduct Authority (FCA). Once their licence expires, they have the responsibility to renew their financial advisor licence in order to continue giving you advice.
What does holding a financial adviser licence mean?
This is to help clients get peace of mind that when financial advisers give financial advice that might make or break your pocket, they are qualified to do so because they have the knowledge and have been trained in the arena.
It helps protect the UK financial services industry by having the stamp of approval from the FCA means that it is trusted by the regulating body adding another layer of trust.
The quality of work and advice meets the requirement of the FCA as financial advisers must have the Certificate of Financial Planning.
The FCA qualifications help financial advisers stay on top of their responsibilities and ensure that the service they provide will be of a high standard and in your best interest.
What makes an independent financial adviser like us stand out is that we are independent and are not tied to any products. For example, if within your circumstances, you would be suited for a selected amount of products to other advisers due to their commitment and partnerships, but with independent financial advisers, everything we select and present to you will be in your best interest, we will not be biased, and we’re not limited to only very few products like others would be.
If you’re looking for financial advice for planning, realistically any financial advisers would be fine for you to consult, but you would miss out on conversions about investment opportunities which is what independent financial advisers are best for.
