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information free from the Internet, it is worth remembering that any advisory information you read could be wrong or out of date and may need reviewed.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?
Share this..
Related stories
Private-sector final salary pension schemes may hit record deficit
It is believed that the largest 200 pension schemes in the UK, all final salary schemes, could hit a combined deficit of around £140 billion within the next 12 months. This comes at a time when the UK final salary pension scheme, at least in the private sector, is under serious scrutiny with many companies looking to close their schemes to new entrants and also, where possible, transfer to money...
Read MoreSpread Betting guides for beginners
You will no doubt have come across the term Spread Betting if you have a keen interest in financial markets. In summary it is the chance to trade the movement of an array of investments using a margin system which ensures that you do not need to out down the full underlying cost of the investment. Sound complicated?
While some would describe Spread Betting as gambling for traders...
Water bills rise, energy fall
Bills for water and sewage will increase by an average of seven per cent in England and Wales this year, according to Ofwat.The price increase will add an extra £20 to average annual household bills, taking them to £312 a year, with South West Water introducing the largest increase of 16 per cent, with bills averaging £650 a year.Chief executive of regulator Ofwat, Regina Finn, said: "We recogn...
Read MoreNational Express releases profits warning
Troubled transport group National Express has today issued a profits warning and confirmed that profits will be slightly below analyst forecasts and the cost of financing the company's debt has increased over the last few months. The company confirmed that trading "remained difficult" in the three months to September and the takeover approach by CVC Capital Partners created a delay in refinancing...
Read MoreIs the credit card industry changing forever?
Today's announcement that Royal Bank of Scotland will be restricting credit card applications to existing customers is a further blow to UK consumers. This follows hot on the heels of a similar strategy announced by HSBC earlier this year and many in the industry fully expect other credit card companies to follow suit. So is the UK credit card industry changing forever?
It would app...