Finansial NET

Selecting a certified financial planner is one of the most important money decisions you’ll make. Here are the steps for finding a great one. 1. Consider Your Priorities Nick Bormann, a CFP in Spokane, Wash., says that advisers tend to specialize in a particular type of financial advice or focus on groups of clients with similar financial issues—teachers, tech execs, middle-class preretirees, etc. So begin your search by identifying your key needs and goals. If you want to dig yourself out of debt or boost your savings as you approach retirement, seek someone with experience tweaking budgets and coaching clients to live within them. If you’ve built up a nest egg but don’t know if it’s enough to maintain your lifestyle through retirement, choose a planner with experience projecting out long-term financial plans and allocating savings among types of retirement investments. 2. Identify Planners Who Fit Your Needs Almost anyone can call themselves a financial adviser. And there’s...

People have long memories when it comes to sharp financial practice. Over the past 30 years, a string of mis-selling scandals involving pensions, investments and commission-driven products such as payment protection insurance have left many sceptical about the wisdom of approaching someone for financial advice. The way such advice is given has nonetheless changed dramatically in recent years, largely under the influence of regulators. Where once people may have been invited to “free” sessions, paid for by kickbacks or commissions on investments and products, today’s customers must pay an upfront fee — often running into several thousand pounds — for unbiased advice tailored to suit their needs. These tougher standards were introduced in 2013 under the Retail Distribution Review (RDR), which forced regulated advisers to hold higher levels of qualifications and banned commission-driven sales. Nevertheless, quality varies and charging structures can still be opaque. At the same time...

Getting Your Financials Right You may have noticed how complex and important saving, investing, maximizing the value of your wealth, and planning for a safe, comfortable retirement can be. If so, you've probably asked yourself how to find a financial planner or advisor and why you might need one. You may also have felt the pressure of making a big financial decision. Whether it is buying a home, investing in further education, or managing the finances for a wedding, birth of a child, divorce, death of a spouse, or major illness, you've probably wondered how a financial advisor could help. Services of Advisors and Planners The National Association of Financial Planners estimates that only 30% of investors have a paid financial advisor. 57% of those without an advisor say they prefer to manage their own money, while 95% with an advisor say they believe the advisor is worth the money.  So what kind of services do financial advisors and planners provide? Broadly, they can...

If you’re lucky, your parents taught you self-control when you were a kid. If not, keep in mind that the sooner you learn the essential life skill of delaying gratification, the sooner you’ll keep your personal finances in order as a matter of habit.  One of the most important ways to exercise self-control with your finances is also very simple. If you wait until you’ve saved the money for whatever it is you need, then you can put all everyday purchases on a debit card instead of a credit card. A debit card deducts the money from your checking account immediately (with no additional fees), but a credit card—unless you can afford to pay off the balance in full every month—is actually a high-interest loan. If you get into the dangerous habit of putting all your purchases on credit cards, then not only will you be paying interest on a pair of jeans or a box of cereal, but you could also still be paying for those items in 10 years. Credit cards are certainly useful; some offer gr...

You may have only just started to make waves in your chosen career path or be on the cusp of building substantial savings to be looking into buying your first home, and feel like investing in your future is a daunting process. Alongside this, you may feel like approaching a Financial Planner for advice when you aren’t really sure what you even need advice on is stopping you from making decisions for your financial future. Contrary to these fears, approaching an advisor for financial planning advice when you are a young adult does not have to be intimidating. By following a few tips on how to prepare for your consultation, you can begin planning how to navigate your future. Why You Should Start Financial Planning Now Realistically, being in your twenties and thirties means a lot of financial future projections apply to you as much as, if not more than, an age bracket that currently has more financial considerations. The housing market, Brexit future, student loan repayments and ...