Financial advisers

Article Abstract:

Choosing an independent financial adviser requires careful consideration. Individuals need to check that the adviser is used to dealing with customers like them, and that the adviser has undergone up-to-date training. They should also enquire about the type of service which the adviser provides, and check that the adviser is truly independent. Advisers may be paid by commission from the product provider or fees from the customer. Paying fees is better for the customer as it avoids any chance of recommendations being based on commission levels.

Appointments, resignations and dismissals

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'Anyone for tax advice? A butcher, a baker, a candlestick maker ... they could all set themselves up as tax advisers tomorrow without any qualifications

Article Abstract:

Many people now use tax advisers to assist with their taxes, but anyone can establish themselves as a tax adviser in the UK without qualifications or experience. However, some belong to professional bodies and have to abide by rules and regulations. Services provided include completing tax returns, inheritance tax planning and small business advice. It is important to find out if the type of service required is provided, and it is essential to choose an adviser who is a member of a professional body if a tax planning service is required.

Services, Tax consultants

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Taming the financial advisers

Article Abstract:

A new set of rules requires financial advisers to disclose the amount of commission that they are to receive on the sale of your personal pension and life insurance plans. The new rules are aimed to allow consumers to compare policies and the deductions made for commission and the cost of administering and managing the account. Details of the information which should now be made available is included, along with a survey of whether advisers are implementing the new rules, and a table of investment charges.

Laws, regulations and rules

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