On this episode of the Money Confidence podcast, Sarah and Georgia talk about what you can expect from the financial advice process.
KEY TAKEAWAYS
At the first meeting the adviser will carry out a fact find, which means that they will gather information on you, so that they can give you appropriate advice.
The more accurate information you can provide them with, the better advice they can give.
You will be asked questions such as what investments you have, what cash savings you have, your income and expenditure. It can be good to think about your current assets, liabilities income and expenditure but your adviser will talk this through with you so don't worry if you don't feel like you're prepared.
You will go through a risk profile questionnaire which is used to help gain an understanding of your attitude to risk.
You can take different levels of risk with different pots of money.
Your adviser will also take into consideration your capacity for loss which is your ability to absorb falls in the value of your investment.If any loss of capital would have a materially detrimental effect on your standard of living, this should be taken into account in assessing the risk you are able to take.
BEST MOMENTS
'The FCA used to be called the FSA.'
'Find an adviser who is right for you.'
'I keep thinking about when I was leaning on my microphone and you thought I was frozen.'
'You should feel comfortable enough to ask as many questions as you need to.'
'Before the implementation stage goes ahead, the adviser will go through the Client Agreement which goes through their charges and services.'
'If anything changes in your circumstances then you should contact your adviser.'
'If you have a question about your investments then you should contact your adviser.'
'There was a survey about how women especially, don't feel comfortable asking their adviser questions, even though they are paying an ongoing adviser fee.'
'Next week we will have our guest.'
ABOUT THE HOSTS
Sarah is a Chartered Financial Adviser and Certified Financial Coach and Georgia is a Senior Paraplanner. Together, they have over 20 years experience in financial services and are on a mission to educate others about money in a fun and non-jargon way. They will help you master your finances and money mindset so that you feel more confident with money and the decisions you make around money. They talk all things money from investments, pensions and benefits to your mindset around money and steps you can take to improve your relationship with money. They aim to make it fun, educational and are with you every step of the way. Together, you've got this!
The information given in this podcast is for your entertainment and should not be construed as financial advice. No liability can be accepted for any individuals relying on this information without seeking specific advice and guidance. As always, take independent financial advice before making any investment decisions. Our discussions are based on tax and legislation in England which may change.
CONTACT METHOD
E: podcast@thegoodmoneycoach.com
W: https://www.thegoodmoneycoach.com
IG: https://www.instagram.com/sarah_talks_money/
LI: https://www.linkedin.com/in/sarah-blyth-chartered-financial-planner-and-coach/
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