It’s suggested that one of the most important decisions you will make when it comes to financial planning is choosing the right person to help you organise your financial affairs. So with this in mind here are a few helpful hints and tips on choosing the planner that’s right for you.
With more than 8,000 financial advice firms across the UK, selecting the right person to suit your financial needs may seem like a daunting task, especially when there are so many to choose from. A good place to start is by understanding if the company is independent or restricted. This really means are they able to recommend all of the products across all of the providers, or are they restricted to the range of financial companies that they can offer you?
Think about what’s important to you; we all have preferences. You may want to consider how your meetings will take place– is it important that your financial planner will visit you, at home or at work or you can visit them? Think about the philosophy of your financial planning firm or IFA, who owns the business and what is the long term view for its development – do you mind whether they are male or female? Asking friends, family and work colleagues about their experiences. Personal recommendations will help you understand what to expect and whether your financial needs suit a particular adviser.
Other important factors to consider are qualifications and areas of expertise. When it comes to qualifications, unlike accountancy or law, there is no one, easily recognisable pre-requisite, in fact there are literally dozens of different qualifications for IFAs, all issued by different bodies.
The most basic qualification and one which all qualified IFAs in Britain are required to hold by the regulator, the FCA, is a Diploma in Financial Planning (Dip PFS). Why not check out their website for a clearer view on their qualifications, some advisers go on to specialise and become an expert in one area, such as investments, tax or pensions.
Once you’ve narrowed down your search, why not meet with the IFA or financial planner? A good relationship is important and you need to feel comfortable around them, after all they will be helping you make some important, if not crucial, financial decisions. You need to feel confident to ask questions if you don’t understand anything and an initial meeting can help you address any niggles you have and aid you in making that important decision.
If you would like to meet with a member of our team, with the initial meeting at our expense, please don’t hesitate to get in touch 01488 608 686.
Barry Fleming & Partners has grown from a tax advisory background into a broader business that encompasses investment management. Both things matter for wealth management, retention and creation. That expertise makes the company strikingly different from others.
This capability allows Barry Fleming and Partners to use its strength in tax advice to take a 360-degree-view of a financial situation to give much broader, more comprehensive advice.
We bring together up to the minute tax, estate, investment and retirement planning advice to create individual, ‘joined up’ financial strategies. This allows our clients to understand and have confidence in how they can best control, retain, and build their assets and income to achieve their objectives with least risk.
A high level of service is key to our long-term client relationships. We work collaboratively. That means our clients can benefit at all times from having ready access to our team of financial planners.
We are located in Newbury in Berkshire and Altrincham in Cheshire so we are able to cover both the north and south of the country.