My Christmas message

My Christmas message

Christmas time is here again. For many of us Christmas represents a time where we struggle to balance. Balance the joy, the family, the wonderful happy Christmas experience, religious or not, against the mass consumption and cost to our pocket.
Let me start by wishing you all a very merry Christmas.
December is also a time when we contemplate the year past and the year future. When I contemplate my own year, I realise a common thread. The most common question I have been asked this year is, “what exactly does an independent financial adviser actually do?” Let me explain.
There are many kinds of financial advice and one should not be confused with the other. An independent financial adviser should not be confused with a financial adviser, independent being the most important word. Independent means to be not tied, or affiliated, with one institution.
Personal finances are a highly complex area. Professionals offering their service should make it clear to you, the client, which type of adviser they are. Equally, as a client, you should always research their good track record of knowledge and experience. Your adviser should be someone who is taking a long term view of not only your needs, but also of their career.
If you thought your doctor was going to leave you half way through your treatment, with no advice of what to do or where to go next, you would be naturally extremely concerned.
A regulated and authorised adviser would usually see you for a first fact-finding meeting free of charge. Should you wish to continue, preliminary opinion and continual discussion with you, the client, are a pre-requisite to a final report based on you, the client’s wants and needs. Fees, obviously, commence after the first fact-finding meeting; however, they should always be clearly outlined and discussed.
An independent adviser should mean there is no transactional bias.
These days institutions are slower moving giants. The paperwork and time involved to place an investment plan is complex; however, you should not be put off by the timeframe involved. We live in an increasingly fast-paced world and people expect things to be produced faster and faster. A well planned investment strategy should never be quick. Quality takes time.
Don’t forget! Tax. Estate planning. Capital preservation. Diversification. Compliance. Asset protection. Access. Flexibility. Longevity. Peace of mind.
I hope I have answered this question. My advice: take your time, choose wisely.
Wishing you all the best for 2015.
This article is intended to provide a general review of certain topics and its purpose is to inform but NOT to recommend or support any specific investments or course of action. Tax Planning is not regulated by the Financial Conduct Authority. Not all estate planning solutions are authorised and regulated by the Financial Conduct Authority.
By Raoul Ruiz Martinez
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Raoul Ruiz Martinez is a resident and independent consultant for Finesco Financial Services Ltd., Glasgow and advises clients on private financial matters in both the UK and throughout Europe under the MiFID regulation. Finesco Financial Services Ltd is authorised and regulated by the Financial Conduct Authority (FCA). Some of the services provided are not regulated by the FCA because they are not included within the Financial Services and Markets Act 2000. | 289 561 333