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Financial Advisers > Financial Advisers In > Financial Advisers By Area > Surrey Financial Advisers > Surrey Financial Advice

Surrey Financial Advice

Surrey Financial Advice
Address: 3 Tannery House
Tannery Lane
Send
Woking
Surrey
Postcode: GU23 7EF
Email: surreyfinancial@surreyifa.co.uk
Telephone: 01483 211800
Website: http://www.surreyifa.co.uk/
Financial Advisors By Type: Taxation Advice, Pensions Advice, Mortgage Advice, Life Insurance Advice, Investment Planning, Health Insurance Advice, General Financial Planning
Financial Advisors By Area: Surrey Financial Advisers
Financial Advisors By City: Financial Advisers In Woking
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Description
We are an IFA firm – (Independent Financial Adviser / Advisor) – This means that we research, deal with and advise on financial and insurance products selected from Providers across the whole UK market (and some offshore), as opposed to those who only advise on a limited range of Providers, or those who are ‘tied’ to only one single Provider.

There is more than one type of financial adviser. Not all advisers can give you advice on all the products available.
  • Independent financial advisers. These advisers provide advice on your behalf. If a product needs to be recommended, they can choose from all those available to pick the one which will best suit your needs.
  • Multi-tied advisers. These can only sell products from a limited number of companies - the ones to which they are "tied". They still have to find the best product in their range to suit you.
  • Tied advisers. These can only sell products from one financial company to which they are "tied" and are usually employed by that company. They too can only sell a limited range of products, although they have to find the best one in their range for you.
If you are unsure which type your adviser is - ask them. They are obliged to give you this information when you first come into contact with them.

Anyone giving advice on savings and investments, pensions, insurance or mortgages is under the eye of a watchdog, the Financial Services Authority.

All financial advisers operate in a highly regulated market. They have to be registered with the Financial Services Authority and are required to have appropriate training.

The Financial Services Authority not only have a register of who can give advice. They have also put in place procedures all financial advisers have to go through, and they watch out to make sure the rules are being followed.

If we had chosen to take the ‘limited range’ option, this would normally produce a higher commission rate, as those Providers on the selected ‘panel’ would be receiving a larger share of our Firm’s business. For the same reason, the ‘tied’ route would normally produce an even higher rate, as only the products of the one provider could then be recommended and sold. In general terms, the higher the commission rate paid to the adviser, the higher the charges built in to the product are for you, the customer.

When taking professional advice there are inevitably costs.

There are several ways of paying your financial adviser for the work needed to get you the right advice. Your adviser can be paid a commission from the company which supplies your product or you can pay your adviser a fee. The fee can either be paid direct when invoiced or collected by your adviser from the policy thus avoiding the need to write a cheque.

Often there is no charge for an initial meeting, but you should check that first. Remember that commission is only an option when you buy something through your adviser. If you take advice and then proceed to arrange a product directly with a provider, the advice may still need to be paid for by you.

Commission is taken out of the money you pay in. This can be done as a chunk right at the start, or at regular intervals.

If commission is taken out each year, make sure your adviser is working for the money. If you have a lot of money to invest or your circumstances do not demand a lot of time then your adviser may be happy to put some of the commission back into the policy. This helps boost the potential performance as more is invested on your behalf.

If you pay a fee, you write out a cheque to your financial adviser. This should mean the charges taken out of your policy will be lower as there is no commission to pay.

More money is then invested for you up front. However, many people either cannot or do not want to pay fees.

Whatever method you opt for remember that the important point is that you know how much the advice is costing - not whether you write a cheque or pay by means of commission.

We are happy to work on a commission basis, a fee basis (fixed or hourly rate) or even part and part. We want you to understand how the remuneration system works and how it affects you, before you make this choice. However, there are some situations where we may not agree to work on a commission basis alone.

We will agree the method of any remuneration with you before undertaking any chargeable work for you. By this method you are protected from unexpected costs, even if we have carried out some work on your behalf. Whichever route is chosen, we would expect the advice to be the same.
UK Financial Advisers Great Hucklow , Derbyshire , England, United Kingdom - -
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