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Should you pay for professional financial advice?

While the Internet is becoming more and more essential to our daily lives, touching all areas of commerce and home life, the subject of paying for financial advice is something which is cropping up more and more. While many people appreciate that to get the best advice you need to pay for it others are suggesting that much of the information they are given may be already available on the Internet. So should you actually pay for financial advice?

The bottom line is, as in any industry or with any service, you get what you pay for therefore if you are looking for free advice the chances are this may be less detailed and less helpful than the advice you pay for. It is also worth remembering that professional financial advisers in the UK are part of a compensation scheme which will reimburse you if you lose out due to mis-advice or fraud. While it is obvious why people are looking to save money by obtaining information free from the Internet, it is worth remembering that any advisory information you read could be wrong or out of date and may need reviewed.

There are many ways to reimburse your professional financial adviser and for those who have until now depended upon their own investigations and research maybe it is time to look elsewhere?

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