Here at Benburys we offer Free Financial Advice. If you would like to speak to our Financial Adviser John Allder please email or call us to arrange an appointment.
Frequent asked Questions
Do you need a financial adviser?
If you’re looking to invest, retire, protect yourself or loved ones, or just simply plan your finances for the longer term, getting professional financial advice will depend on a number of factors such as how complicated your finances are, your personal circumstances and your short and long-term financial goals.
What services do financial advisers offer?
Professional financial advisers carry out a ‘fact find’ where they ask you detailed questions about your circumstances, your goals and how you feel about taking risks with your money. Then they recommend financial products that are suitable and affordable for you.
Types of financial adviser
Financial advisers offer services ranging from general financial planning and investment advice, to more specialist advice, such as the suitability of a particular product such as a pension.
In the case of investment products, some advisers are ‘independent’ – meaning they offer advice on the full range of investment products from the market, while others offer a ‘restricted’ service meaning that the range of products or providers they will look at is limited.
Our in house financial adviser John, is independent, so has access to simple as well as specialist products to match our clients needs
What are the benefits of getting advice?
If you buy based on financial advice and a recommendation, you should get a product that meets your needs and is suitable for your particular circumstances.
Depending on the type of adviser you use, you may also have access to a wider range of choices than you’d be able to assess realistically on your own. You also have more protection if things go wrong if you buy based on advice – see below.
The difference between advice and ‘non-advised’ sales
Many banks, building societies and specialist brokers will talk you through your different options and leave it up to you to decide which product to take. In this case you are buying based on ‘information’ and have fewer rights to claim compensation if the product turns out to be unsuitable.
By contrast, if you end up with an unsuitable product after getting advice and a recommendation you could have a case for ‘mis-selling’ – though this doesn’t protect you against making losses if the market goes up or down.
What to think about before you see a financial adviser
Before you look for a financial adviser, try to work out what kind of advice you need. This will help you find the right adviser for your situation. Here's a checklist of some of the things to think about:
- are you planning for a particular event? For example, your retirement or saving up to buy a house or your children’s college fees. You need to look at your life and work out what events you need to plan for financially
- do you have spare money to invest? Take a good look at your finances to see how much you can afford to save. Make sure you have cleared any outstanding debts, loans or bills first
- how much risk are you prepared to take with your money? When you invest money, there’s a chance you could lose money on your investment. Some investments are riskier than others but can make you more money if they do well. As a general rule, the longer you invest for, the more likely you are to make money, rather than lose it
- how long do you want to tie up your money for? The length of time you are willing to invest for affects the types of products an adviser will choose
- do you want advice on different kinds of investments? For example, ethical or environmentally friendly investments or financial products that invest according to Shariah principles?
- are you looking for advice or just information? You may want someone to advise you what to do with your money or just information about a financial product so that you can make your own choice. Some financial advisers will provide both information and advice
- do you want one-off advice or advice on an on-going basis? Make sure you are clear about how much the advice will cost you and that you can afford it.