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ProspectThe Bank of Mum and Dad is no solution to rocketing rentsProspectIncredibly, the Bank of Mum and Dad (BoMaD) is now the UK's ninth largest mortgage lender and will provide over £6.5bn in payments in 2017, up from £5bn in 2016. This generosity will fund deposits for nearly 300,000 mortgages, allowing homes worth ...Average retiree releases £52000 from home value, helping fund child's access to property marketThe Bolton Newsall 2 news articles »
BBC NewsSFO to investigate pension liberation scamsBBC NewsThe Serious Fraud Office (SFO) is to investigate a series of pension liberation scams, in which investors have lost at least £120m. Since 2011 it's thought that more than 1,000 people moved their pension savings into schemes such as Capita Oak and ...and more »
AOL UKMarch of cyber crime hits 1 million more victimsAOL UKMore than one in ten people in the UK have had to cancel a credit or debit card in the past year, as the result of online fraud. ... It means that if fraudsters start trying to make unexpected purchases, you can refuse to authorise them - and protect ...
Hargreaves LansdownHow will your initial drawdown withdrawals be taxed?Hargreaves LansdownThe pension freedoms have given investors aged 55 or over the option of taking unlimited withdrawals from their pension. This has opened up a world ... It is particularly important to be aware of this if you are withdrawing money for an urgent purchase ...
Citywire.co.ukShould clients ever put all their investment into equities?Citywire.co.ukSerious reflection is required for the chart below. It shows the total returns, which includes dividends, of the FTSE All-Share index since 1985. Imagine you bought into the market in December 1999 and it was now February 2009. You would have lost ...
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Getting financial advice

It’s time to review your finances and make sure your money is working as hard for you as it possibly can. Somewhere out there are the right financial products for you but unless you have the mind of a forensic detective and understand the complexities of everything from insurance and pensions to hedge funds and derivatives get sound financial advice.

If you don’t already have someone in mind as an adviser one of the best ways to find someone good is to ask family, friends or colleagues for recommendations. You want someone who’s independent so that he or she can give you impartial advice about the whole range of products on offer. If you choose an adviser who isn’t independent they can only advise you on the products they work with. Some advisers specialise; if you want advice on pensions you might want and adviser who is a pensions specialist. Ask about the qualifications of anyone you are thinking of seeing.

The other question you have to ask is about how you pay for the service. You may choose an adviser to whom you pay fees upfront. Fees vary hugely so find out before you book your appointment. Try haggling to get the fees reduced if possible and ask for the first session to be free so that you get the chance to decide whether or not you have a rapport. The other option is an adviser who gets his or her fees through commission which you ultimately pay for because it’s added to the cost of the product you buy. Or you may pay for advice through a combination of the two.

Whoever you choose it’s helpful if you can build a lasting and trusting relationship which will make you both money for years to come. Remember that a financial plan made now needs to be reviewed frequently. What’s right for you in the current climate may not be right once the economy picks up again or if your circumstances change. The degree of risk you’re prepared to take with your savings and investments may be different when you’re single from when you’ve got a partner and children. Getting the right adviser is just the start of the process. 

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