When seeking the advice of a financial adviser it’s not uncommon to want to buff up on your knowledge of the main products that are used in order for you to feel more in control of making your decision.
I have listed some of the main products that we deal with below along with a brief explanation of what they are.
- Financial or tax planning:The more money and assets you have, the more complex financial planning gets. There’s a range of sometimes impenetrable products that can be useful but are also tough to understand.
- Investments:Choosing an investment is about assessing the risk and trying to second-guess the markets. It’s important to remember advisers don’t have a crystal ball; their choices for you are best guesses, not certain knowledge.
- Protection insurance:Life insurance, critical illness, and income protection can all be complex products, with many exclusions. In some events, it can be done cheaply without an adviser, but we would always recommend seeking the advice of an adviser, especially if you have complicated family or arrangements or health issues.
- Pensions and pension transfers:Getting a private pension these days is often a simple case of picking the right provider (or joining the one your work provides), but this doesn’t take away from the fact that pensions can be very complex, especially for those who want to transfer a sizeable existing pension.
Now may be a good time for me to tell you about my book “Educate My Money”. It’s a one-stop book that helps you understand financial products in way more detail than what I have explained above. You can get this by calling into our offices or we can pop a copy in the post at your request.