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Introduction
Throughout your life you’re likely to need different financial products. A financial adviser can help you make the right decision about the best product for you. While the advice isn’t free and DIY options are available, if you’re looking at large important financial decisions, even the money-savvy see the value in paying for an adviser to ensure they get it right.
There are two types of financial advice you can get, independent or restricted:
Independent financial advisers (IFAs): If an adviser is ‘independent’ or a firm advertises that it gives ‘independent advice’ this means that it’s able to advise and sell products from any provider right across the market. Therefore you should get the very best advice and products tailored just for you.
Restricted advisers: In contrast, and as the name suggests, if an adviser or firm is restricted it can only recommend certain products or product providers to you. The adviser should clearly be able to explain the nature of the restriction to you, but if you’re not sure, ask.
Things to consider
Areas of advice include:
– Pension advice
– Retirement income planning: annuities, drawdown and alternatives
– Life insurance and protection plans
– Tax-efficient financial planning
– Inheritance tax and trusts
Summary
Independent financial advisers (IFAs) are authorised to give you advice and recommend suitable pensions products and investment options, for you, they are not constrained by a single in house product, such as a bank. Whilst taking financial advice will have an associated cost, when it comes to making life-changing financial decisions, it may well save you money in the long run. Contact us today to get expert independent financial advice for expats.
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Additional Information Resources
Additional information resources are available by clicking on the links below:
You can also view information related to your particular stage of life: