Financial Investment Advice - Find the Type That Meets Your Needs

If you need advice on any aspect of your finances, you should look for an independent financial adviser.  However, some advisers provide advice across the whole range of financial matters while others specialise in a particular area such as mortgages, investments, insurance or pensions.  So if it is financial investment advice you need, you should check that the adviser does provide this type of advice.  And if he/she actually specialises in financial investment advice, so much the better.

However, investment itself is a very broad field, and some providers of financial investment advice will specialise in a specific area.  So depending on what you need advice on, it’s a good idea to check that the adviser has some expertise in that particular area.

• If you have money to invest, either as a lump sum or by putting aside a regular amount, there are two main ways you can do it.  You can buy shares in one or more companies, or you can put your money into a pooled or collective investment vehicle such as a unit trust.  This has some advantages over shares in that its performance doesn’t just depend on the fortunes of one company, so the risk is spread.  You really should take financial investment advice to help you decide which product is best for your requirements.

• One very specialised type of investment product is pensions.  You would normally look for financial investment advice if you were considering buying into a personal pension plan.  However it’s also a good idea to seek advice if you are thinking of joining or leaving a company pension scheme.  If you need pension advice, you should ensure the adviser you talk to is qualified at least to AFPC (Advanced Financial Planning Certificate) level (now known as Advanced Diploma in Financial Planning) with the G60 Certificate in Pensions or AF3 Pension Planning (or the equivalent) as a specialisation.

• Another type of product for which you might need financial investment advice is a Self Invested Personal Pension Plan or SIPP. These are based on the rules of a personal pension plan but have wide powers of investment so you could invest in commercial property. You may have no idea what to choose so, again, you will more than likely need financial investment advice. 

Financial investment advice isn’t necessarily just a general product – it can be very specialised into different types of investment.  You shouldn’t automatically assume that the investment adviser will be equally expert in each type of investment. Don’t hesitate to ask an adviser about his/her qualifications and specialisms, as well as length of practice and degree of experience.  A good adviser will be very happy to provide this information before you commit yourself.

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