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Important Information on Investment Advice

Any person or organization who gives investment advice needs to be recognized by the Financial Services Authority. There is also a huge difference between obtaining information and getting advice, you will need to understand the difference. Organisations that provide "information" do not have to be backed by the FSA.

If you receive investment advice before you part with any cash than you will be in a much stronger position should the advice turn out to be wrong or misguided. It is also important to know that the sale of savings products is not FSA regulated, so it is crucial you speak to a reputable advisor before buying any such product. Investments many increase but this is not a cast-iron guarantee. They could decrease in value and you may lose everything you have invested altogether. Because of these potential risks, it is important to seek proper investment advice before buying an investment.

An advisor will take your personal circumstances in to consideration and will explain all risks involved before you make a decision. FSA authorisation is not blanket coverage, and in order to give advice in more than one area advisors have to seek FSA approval for each one. Under FSA rules, advisors are required to provide you with a clear and comprehensive copy of the rules, which they operate under. This includes a proper explanation of the services they offer, all the different fees they charge as well as information on the products they sell.

Financial advisors are listed in telephone directories, on the internet and via various business links. In order to have some assurance your investment advice is sound, you may want to ask friends if they have any recommendations.

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