There's a lot in the news these days about planning for the
future, everyone being urged to save, save, save for their
retirement. Of course this is easier said than done for
many, what with the cost of living going up all the time,
mortgage and fuel costs being just two of the areas causing
concern.
Even when you do have the money to consider saving, the big
question is how to do it the right way. Do it the wrong way
and Gordon Brown and his chancellor will get their hands on
(more of) your money, something that no one really wants.
But it is a complicated world out there, with lots of
different savings plans and many interesting ways of
reducing tax and increasing returns, but you do have to
know your way around.
Then of course, there are ways of making sure that you are
paying the least possible for your mortgages and loans. The
credit crunch in Dec 2007 has made this much more
difficult, with many lenders simply not being able /
willing to lend money the way they used too. Those with a
poor or adverse credit history have even more problems in
this area, however, there are those that know where to look.
In the end the area of personal finance is yet another
where you really have to turn to the experts, their
knowledge saving you lots of money, even when their fees
are taken into account. The issue then is "knowing which
one to ask to help you", there being almost as many of
these Financial Advisers as there are savings plans and
mortgages.
Unless your financial circumstances are very specialised,
you may well be best to choose a financial adviser that has
offices near by, that way you can get to see them whenever
necessary, rather than being limited to discussing your
important matters on the phone or by post.
These days too you are probably going to get the best deals
by ensuring that you enlist the services of an Independent
Financial Adviser, that way you'll get a wider choice than
if you use an adviser that is "tied" to a particular bank
etc. These IFA's are governed by a strict code, so you can
be sure that you'll be OK.
Even with the narrowed criteria choosing only a local
company, and one that is independent, you're still going to
find quite a bewildering number of potential companies to
choose from, so how do you go about choosing the right one?
Recommendation, by word of mouth is by far the best way of
finding someone you know you can trust, but failing that
method, the next best thing must be the Internet.
Never before has so much information been available to
anyone looking for anything (including financial advice)
than today. With just a few clicks of a mouse, you'll be
able to locate dozens of prospective advisers. The next
step is to shortlist say a dozen, these being the ones
whose listings on the Search Engines has caught your eye.
Then have a brief look at all the sites and pick a few
that seem to be talking your language and be best suited to
your needs. If they have any downloadable material it can
be good idea to request it, you won't be bombarded with
calls or emails, but you will get an insight into the way
that advisor does business and what fields they cover.
Once you've got your shortlist, the next best thing is to
go and see their offices and perhaps ask a few questions to
see how helpful they are, and then finally you'll be able
to plump for one of them, secure in the knowledge that you
have done your research and that if you don't get on with
your first choice, that you have others to which to turn.
Good luck in choosing your financial advisor and good luck
too with your savings plan.
----------------------------------------------------
Choosing someone to help you save for your retirement, that
rainy day or for the kids schools fees is a major task
these days. Graham Baylis provides tips on how to choose
the right advisor, these tips being gleaned from years of
networking with IFA's and Accountants in the Midlands of
the UK. For an example of an IFA local to Graham see
http://www.midlands-financial-mortgage-advisers.co.uk
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