1. Home
  2. >
  3. Ifas
  4. >
  5. Financial Advisors in Wakefield

Financial Advisors in Wakefield

You may be surprised to learn that all it takes is a couple of pension pots, a couple of children and your own property to warrant the assistance of a financial advisor. Many people mistakenly believe that you need to be exceptionally wealthy to make it all worthwhile but this really isn’t the case.

It’s all about understanding your choices, and having the information to make the right decisions for now, for the future, for you and for your family. This includes entities such as lifetime allowances, mortgage products, pensions freedoms, inheritance tax and investments, all of which can be complex financial areas to navigate.

Many people are deterred by what they perceive to be the crippling expense of financial advice in Wakefield. Whilst good advice does incur a cost, this can be totally justified by the financial rewards over time, growing your wealth to greater proportions than had you decided to go it alone. So when is the right time to justify this cost and engage the services of an independent financial advisor Wakefield? Here we look at the key milestones when you may want to consider hiring a professional local financial advisor.

Need help finding Independent Financial Advisors Wakefield?

Finding the Best Financial Product in Wakefield

Picking the right independent financial adviser in Wakefield can arm you with the best financial advice to invest in the best products. Broadly put, a financial product is something that helps you save, invest, protect yourself against loss, plan for retirement and long term care, or manage your finances.

Some of the common financial products include:

  • Annuities
  • Financial planning or tax planning
  • Mortgage and equity release
  • Protection insurance
  • Pensions and pension transfers
  • Wealth management
[penci_blockquote align=”center” author=””]Many financial advisers will offer a free consultation in order to discuss their expertise and the fees.[/penci_blockquote]

Top 10 Independent Financial Advisors in Wakefield

Rank Advisor Description Find An Advisor
1 AFH Wealth Management AFH Wealth Management Ltd is fully authorised by the Financial Conduct Authority and offers end to end independent financial advice across 12 offices nationwide, including their office in Wakefield, Find An Advisor
2 True Potential LLP At True Potential Management Ltd they employ a unique and modern approach to wealth management helping their valued clients in their journey towards achieving their goals. Find An Advisor
3 Wills Financial Consultancy Part of the success behind Wills Financial Consultancy lies in their ongoing commitment to provide a quality, bespoke service to a small number of clients. Find An Advisor
4 Future Group UK Ltd Future Group offer you a comprehensive financial planning service with an experienced and dedicated independent financial adviser Find An Advisor
5 Tony Revans Financial Planning Tony Revans Financial Planning was formed in 2000 and offers a one stop shop for a full, independent, whole of market service. Find An Advisor
6 Freedom Advice Freedom Advice offers complete peace of mind to clients seeking independent financial advice in Wakefield and the surrounding areas. Find An Advisor
7 Fairstone Wakefield At Fairstone Financial Management they offer full, independent, whole of market advice with unrestricted choice, providing customers with insightful financial solutions for all your needs and ambitions. Find An Advisor
8 Alexander House Wakefield Alexander House are in possession of a number of industry awards which is testament to the valuable financial service they provide their loyal customer base. Find An Advisor
9 TPO - The Private Office The Private Office are made up of a team of independent, chartered financial planning experts whose sole aim is to protect and grow your wealth. Find An Advisor
10 BBT Group Established in 1998, BBT Group uses decades of industry experience to deliver high quality, bespoke financial planning service to their valued clients. Find An Advisor

How A Financial Adviser Wakefield Can Help You

Some IFAs have specialist knowledge in specific products and how they can impact your finances, and therefore we aim to match you with the best possible Independent Financial Advisor in Wakefield to service your specific needs whether it be:

Some of the common financial products include:

  • Investing into your pensions advice
  • Retirement planning in Wakefield advice
  • Investing into your stocks and shares ISA
  • Mortgage advisers in Wakefield
  • Protection insurance advice in Wakefield
  • Investments advice in Wakefield
  • Financial planning advice in Wakefield
  • Life insurance advice in Wakefield
  • Equity release advice in Wakefield
  • Inheritance tax planning advice
  • Wills advice
  • Tax advice in Wakefield
  • Financial services for business advice in Wakefield
  • Particular needs of business owners and directors in Wakefield

Independent financial advisers Wakefield, can help make your money work for you and help you achieve your desired results, using sound investments and careful financial planning.

Why You Should Look For An Independent Financial Advisor Wakefield

Getting Married and Starting A Family

There are serious financial considerations to make when you merge your assets with your significant other. Bad credit on one side can have serious consequences for you both and affect your chances of securing a mortgage in Wakefield or other financial product down the road. Seldom is it as simple as getting a joint bank account, and the involvement of a financial advisor can help clarify the best way to move forward as a couple for your joint financial future. Mortgage advisors Wakefield can help you find the best possible product for your unique circumstances and the correct advice here can end up saving you thousands over the term of your mortgage.

Saving for your children’s future is another consideration, and one where the input of financial advisors Wakefield can help you achieve the best possible returns. Just £50 a month for 18 years could amass to a staggering £31,000 to help towards a property or fund their university degree. But knowing how to maximise your returns whilst protecting your capital is the key to success.

Receiving an Inheritance

Receiving a lump sum inheritance can change your financial outlook, but before you put it in a savings account you should consider other more lucrative ways of storing your cash. This may be the right time to start investing in order to secure your future, and engaging the services of an independent financial adviser in Wakefield could help you avoid costly mistakes in a volatile marketplace. There are also generous tax breaks available that could give your new found wealth an additional boost and a financial adviser in Wakefield will take the time to understand your attitude to risk in order to create a fully diversified portfolio.

Approaching Retirement

With the multitude of retirement solutions, and the new pensions freedoms to consider, deciding how to use your retirement fund can seem like a daunting prospect, and indeed it is easy to make costly mistakes. In recognition of these complexities the government presently recommends speaking to a financial adviser and indeed research has shown that those who do seek out financial advice ended up with a larger pension pot than those who didn’t.

Here is our round-up of IFAs in Wakefield

AFH Wealth Management

AFH Wealth Management ltd

Address:
Unit G37b, Market Walk, Wakefield, West yorkshire, WF1 1QR, UKFind and Advisor

AFH Wealth Management Ltd is fully authorised by the Financial Conduct Authority and offers end to end independent financial advice across 12 offices nationwide, including their office in Wakefield, England. Their highly specialised team of over 200 independent financial advisers currently manage over £6 billion in assets in order to help you make the most of your money with strong financial planning.

Whether you are planning your retirement, looking for a mortgage advisor, protecting your family’s future, or have specific business requirements, AFH Wealth Management Ltd offers a holistic approach towards realising your aspirations. Your independent financial adviser will employ a completely holistic approach in order to ensure all your needs are met from end to end. Your adviser will take the time to discuss and completely understand all your needs and goals and utilise the team of highly specialised, research and investment advisers in order to identify the best solutions available on the market in order to meet your individual requirements.

AFH Wealth Management Ltd utilise over thirty years of experience to drive down the cost for you, making it affordable for you to make your money work harder.

AFH Wealth Management Ltd engage a comprehensive step by step process to ensure you are completely supported and reassured throughout your journey with them including:

  • A no cost introductory meeting with an independent financial adviser
  • Assistance in identifying your personal goals and objectives
  • Help establishing your personal appetite for investment risk and tolerance to potential losses
  • Meeting with an independent financial adviser to discuss your financial plan
  • Recommendations of whole of market products that suit your individual needs
  • Assistance identifying suitable investment opportunities
  • Formulation of a holistic wealth management strategy
  • Implementation of your independent financial plan
  • Continuous reviews and adjustments in line with market changes
  • Continued contact with an independent financial adviser to discuss any changes in your circumstances or objectives

At AFH Wealth Management Ltd they believe in a bespoke, personal service that can successfully meet the needs of their clients in a comfortable and supported way. With their extensive team of dedicated advisors you can be confident that the specialist knowledge you receive is the very best to help you reach your goals.

True Potential LLP

True Potential Wealth Management Ltd

Address:
4 Bond Terrace, Wakefield, West Yorkshire, WF1 2HW, UKFind an Advisor

At True Potential Management Ltd they employ a unique and modern approach to wealth management helping their valued clients in their journey towards achieving their goals. Their advisers stay abreast of a constantly changing market in order to respond to new opportunities quickly and strive to offer you the absolute best value and choice available. It is their belief that better informed clients are empowered to attain their unique goals, so they employ an award winning system to provide you with all your financial dealings in real time.

At True Potential Management Ltd it is their mission to revolutionise wealth management by providing you with simple, transparent advice that can help you better understand your individual goals and help you realise your attitude to risk. Armed with this information, you will have better confidence to take control of your finances.

At True Potential Management Ltd your independent financial adviser will take the time to carefully map out your investment goals with you, using information such as the time you require to reach your goals, and the level of risk you are prepared to take in order to get there. This information is then used to create a comprehensive strategy with a road map that is completely tailored to your individual circumstance. Your independent financial adviser will also consider your existing products and analyse whether they are the most appropriate products available for your needs.

With True Potential Management Ltd you have access to a wide range of investment options including the True Potential portfolios which consist of blended funds, mutual funds, bonds, exchange traded funds and equities.

As a client of True Potential Management Ltd you can take advantage of their personal client site where you can have complete access to your investments as well as real time information on how they are performing. All your online portfolio valuations are in one easy to use place and you can also top up any of your investments on the go, with as little as £1, with their impulse save feature.

Your independent financial adviser can help you identify the real reason why you are saving and investing and work with you to realise your goals with our expert recommendations all presented to you in a palatable format.

True Potential are regulated by the Financial Conduct Authority.

Wills Financial Consultancy

Wills Financial Consultancy

Address:
34 Bond St, Wakefield, WF1 2QP, UKFind an Advisor

Part of the success behind Wills Financial Consultancy lies in their ongoing commitment to provide a quality, bespoke service to a small number of clients. Keeping the practice small has afforded them the platform from which to offer their valued clients a truly personal, highly specialist service with high quality advice on all aspects of wealth management.

Wills Financial advisers are able to offer this level of service to you at all stages of your life with a wide variety of resources available to both private clients and businesses.

Business clients of Will Financial Consultancy can get assistance with corporate financial planning, pensions, protection for directors, key employees or shareholders, tax planning and exit strategy planning.

Private clients can enjoy a complete service when it comes to investment planning with a view to creating the optimum investment strategy to secure your future. Their financial advisers will work with you to identify your unique requirements and financial aspirations and clients have come to expect quality advice regardless of whether they are seeking to invest for income or growth.

The comprehensive investment solutions offered are spread across a wide range of global assets and clients enjoy the peace of mind that comes with the ongoing and through service offered, ensuring all your investments continue to work hard for you. Risk rated portfolios enable a balanced and varied investment solution and you can take advantage of fund managers with different investment styles to suit you.

For clients considering investing for income, Will Financial offers a wide range of income solutions allowing you to structure your investment portfolio to provide you with a regular income. They make provision for investing across a range of asset classes and work with you to produce a distinct, personal, tailored portfolio. Their team of highly skilled financial advisers can assist you with the following sources of income:

  • Fixed interest with a focus on providing a reliable source of income.
  • Equities, allowing for accumulation of the dividend and producing significant value over time. This option gives you income as well as capital growth.
  • Commercial property which not only provides a steady income generated from renting to a tenant, but also experiences capital growth from an increase in the value of the property over time.

Wills Financial Consultancy is an appointed representative of St James’s Place Wealth Management which is regulated by the Financial Conduct Authority.

Future Group UK Ltd

Future Group UK Ltd

Address:
Suite 10A, BizSpace Headway Business Park, Wakefield Business Centre, Wakefield, West Yorkshire, WF2 7AZ, UK Find an Advisor

Future Group offer you a comprehensive financial planning service with an experienced and dedicated independent financial adviser who takes the time to get to know you and your unique needs and aspirations so they can work with you to deal with all your investment and protection needs.

Investments

At Future Group your independent financial adviser will make it their mission to help you get any spare capital working hard for you with the following investment options:

Asset-backed investments including shares, ISAs and bonds to name just a few.
Deposit based investments, including Commercial Banks and Building Societies, Cash ISAs and National Savings and Investments.
ISAs, still one of the most tax efficient solutions for your savings, Future Group can help you take the mystery out of which ISA is the best option for you and your savings.

Protection

The cost of insurance has fallen and the quality of cover has increased in some cases which in most cases means that the protection you already have in place may not be reflective of the best option available to you now. Future Group can perform a comprehensive review of your current policies to ensure you have the right level of protection for your unique requirements taking into account the following cover:

  • Critical illness cover, paying out a tax free lump sum should you be diagnosed with an insured medical conditions during the term of your policy
  • Income protection insurance, designed to help you should you become unable to work.
  • Level Term assurance, paying out a lump sum should the life assured die during the term of the policy.
  • Mortgage life assurance, to ensure your home is paid for in the event of your death.
  • Whole of life assurance, guaranteeing your loved ones will receive a lump sum in the event of your death.

Pensions

At Future Group they can help you plan ahead and secure your future including:

  • Income drawdown
  • Pensions and divorce
  • Retirement planning
  • Personal pensions
  • Retirement options and pensions freedom

Mortgages

Future Group are committed to matching you with the mortgage and interest rate option that best benefits your individual needs including:

  • Buy to Let mortgage
  • Offset mortgage
  • Equity release
  • First time buyers
  • Flexible mortgages
  • Remortgages
  • Self build mortgages

Future Group (UK) Ltd is an appointed representative of Quilter Financial Services Ltd and Quilter Mortgage Planning Limited, who are authorised and regulated by the Financial Conduct Authority.

Tony Revans Financial Planning

Tony Revans Financial Planning

Address:
1a Clarke Hall Farm, Aberford Road, Wakefield, WF1 4AL, UK Find an Advisor

Tony Revans Financial Planning was formed in 2000 and offers a one stop shop for a full, independent, whole of market service. They strive to offer you the best possible service by striking a balance between the use of the latest technology available, whilst retaining a personal touch for all clients. They are proud to offer you a truly bespoke service over a wide range of requirements. Tony Revans are leading advisers in retirement planning advice offering dynamic individual solutions.

Investments

Working with your changing priorities and aspirations, throughout your life Tony Revans offer individual investment opportunities taking the time to understand you and your unique needs in order to help you with all your investment requirements and ensuring that your money works hard for you. They work with you to find the best ISAs and offer you tax efficient investments across a diverse range of products that are consistent with your propensity for risk. Tony Revans take the time to ensure you obtain a thorough understanding of all the options available and make sure the products you procure are in line with your ethical and environmental beliefs.

Protection

Tony Revans work with you to ensure that you have the right level of cover, in the right areas, in order to protect you and your loved ones should the worst happen including:

  • Critical illness
  • Accident or illness that leaves you unable to work
  • Loss of income
  • Private health insurance
  • Life insurance

Their adviser will take the time to help you understand your options and make head or tail of the various products available as well as:

  • Steps to protect you and your family
  • Best products for your evolving needs
  • How to prioritise

Retirement Planning

Your adviser will help you identify the correct amount to ensure you can experience a comfortable retirement to ensure your future security by:

  • Working back from retirement aspirations to effectively calculate how much you need to save before then
  • Recommend the correct products that are best suited to your individual needs and flexible enough to adapt to your changing circumstances
  • Finding the perfect balance between saving for tomorrow whilst living for today.

Savings

Whether you are saving for a wedding, holiday, home, or emergency your adviser will help you make sense of all the different saving products available so you can make the most of your money. Your adviser will factor in how quickly you need access to your money and help find the best rate of interest based on your individual needs including:

  • The best facilities and features for you
  • Identify what you are saving for and therefore how to reach that goal
  • Compare interest earned in savings to cost of debts in order to maximise your wealth
  • Identify the most tax efficient account for your needs

Equity Release

Your home is likely to be your biggest financial asset and releasing this equity can help you with renovations, long term care or retirement should the need arise. Equity can be released as a lump cash sum or as a regular income. Your adviser will go through your options with you in order to establish what would work best for you and your individual needs.

Tony Revans is authorised and regulated by the Financial Conduct Authority.

Freedom Advice

Freedom Advice Independent Financial Advisors

Address:
22 Castle Grove Drive, Leeds, LS6 4BP, UK Find an Advisor

Freedom Advice offers complete peace of mind to clients seeking independent financial advice in Wakefield and the surrounding areas. Regardless of your financial background, your adviser will take the time to get to know you so they can best serve you in reaching your financial goals and pride themselves on their continuing quality of service throughout your lifetime.

Regardless of whether you are seeking advice to secure your retirement, or would like to reduce the amount of tax you are currently paying, they offer a honest and professional service that is regulated by the Financial Conduct Authority in the following areas:

Retirement Planning

Freedom Advice help you look forward to a financially secure retirement, free from the stresses of finances. They help you prepare now so you can live life to the full later, offering independent guidance to help you make the most from your money. Freedom will spend the time to identify what you are saving for and how much you will realistically need in order to meet your retirement lifestyle. This information can then be used to capitalise on the following areas:

  • Personal Pensions
  • Pension Review Services
  • Tax Efficient Pensions
  • Director Pensions
  • Self Employed Pensions
  • Stakeholder Pensions

Wealth Management

The independent financial advisors at Freedom Advice spend time getting to know you, in order to best understand your motivations, so they can provide the best possible strategy, utilising all the appropriate financial products and services available. Freedom Advice harness technology in order to provide an online wealth management platform where you can access all your information in one secure location in detail.

Savings and Investments

Freedom Advice employs independent advisors, meaning that they can offer advice and products from across the entire market, free from bias, in order to create an investment portfolio that caters to your individual needs. They aim to make sense of the savings and investments available to you, taking into account your unique requirements including your current circumstances, tax opportunities, your appetite for risk and capacity for loss.

For clients with an existing investment portfolio, Freedom Advice offer a review service to ensure that all the products and services you use are the very best in order to deliver the maximum returns. They can assist you to formulate a regular savings plan or alternatively arrange an income from your current investments in order to meet your requirements.

Fairstone Wakefield

Fairstone Financial Management Ltd

Address:
Prosperity House, 9 – 11 Potovens Lane, Wakefield, WF3 3JE, UK Find an Advisor

At Fairstone Financial Management they offer full, independent, whole of market advice with unrestricted choice, providing customers with insightful financial solutions for all your needs and ambitions. They service all of Wakefield and the surrounding area with no lower wealth limits, meaning that their services are not restricted to affluent clients and unlike most of the competition they have no exit penalties to worry about.

You can enjoy a transparent and flexible fee structure, meaning Fairstone are able to provide lifetime financial support at 60% lower cost than the market leader. Their commitment to providing unrivaled financial support has earned them an independently measured trustpilot rating of 97% client satisfaction as well as a Defaqto 5 star rating for their core managed investment portfolios.

The Chartered Status held by Fairstone also ensures that you can rest assured that all their advisors are qualified to the very top level and therefore able to offer the most experience, and best advice, in the profession.

Fairstone offers a full financial service to their clients with expertise in areas of wealth management, financial planning, and estate planning. This provides clients with a holistic, long term approach, giving you the best advantage from which to pursue your financial ambitions. Whether you are planning your retirement, or saving for school fees, Fairstone has the best, quality advice to set you on the right path to financial success. The level of wealth management offered by Fairstone can better help you understand your tax obligations and manage your investments and assets.

When it comes to investments Fairstone have the expertise to guide you seamlessly through the process of identifying your short and long term goals in order to draw up the best investment portfolio to help you achieve those goals. They understand that everyone’s circumstance is unique and there is no ‘one size fits all’ approach when it comes to you and your family’s financial security. Fairstone advisors are well placed within the market in order to offer you the very best products available in order to achieve your medium and long term objectives.

Fairstone Group Ltd are authorised and regulated by the Financial Conduct Authority.

Alexander House Wakefield

Alexander House Financial Services Ltd

Address:
90 Huddersfield Road, Wakefield, West Yorkshire, WF3 2GB, England Find an Advisor

Alexander House are in possession of a number of industry awards which is testament to the valuable financial service they provide their loyal customer base. They provide an ethical and expert service, founded on traditional values, to guide their clients safely towards making the right decisions so they can enjoy the financial freedom they aspire to.

As well as building a reliable and trustworthy business, Alexander House employs innovative and modern ways of harnessing technology for the advantage of their clients. They continually strive to improve the services and products they recommend to you so you can continue to build for your future whilst enjoying the here and now. Their client portal allows you access to all your details keeping you in control of your financial dealings, and their highly trained specialists are available both face to face, or virtually, giving you access to valuable advice at every turn.

The highly skilled team of independent financial advisors at Alexander House will take the time to get to know you and your unique circumstances in order to ascertain the kind of services you require before recommending the very best products from across the market for you. Some of the services you can expect to receive include:

Protecting Your Family

Let Alexander House take the financial worry out of unexpected events in your future by providing the right protection for you and your family should you be unable to work due to accident, illness or redundancy. They can provide you with the peace of mind to enjoy the here and now, safe in the knowledge that you have the appropriate level of cover, at the best price.

Buying Your Home

Buying your home is one of the largest financial decisions you will make in your life. That’s why Alexander House provides you with all the sound financial advice you need to avoid the pitfalls and make the best possible decisions for your future. Their mortgage advisor will set you on the right path.

Saving for Your Future

Regardless of what you are saving for, Alexander House can help you reach your financial goals and ensure that your money keeps working hard for you.

TPO - The Private Office Wakefield

The Private Office

Address:
No 2 The Bourse, Wakefield, West Yorkshire, WF3 3PS, England Find an Advisor

The Private Office are made up of a team of independent, chartered financial planning experts whose sole aim is to protect and grow your wealth. They offer a personal and fully bespoke service in order to provide a comprehensive wealth management service to their clients. Their skilled and experienced experts are driven by your unique needs and their level of service and performance means that you can look forward to a prosperous future.

The Private Office have a culture and work ethic that is founded on the principles of integrity, confidence and partnership, filtering down to the level of service that they provide their valued clients.

Fully Independent

The Private Office will continually strive to offer their clients the best possible advice and products to grow their wealth. That’s why it is so important to them that they are fully independent and therefore completely objective in their recommendations without any bias towards any product, provider or service. Their propositions are always based on an exhaustive and fair analysis of the whole market and the best solutions to meet your unique financial requirements.

Chartered Financial Planners

The Private Office are part of only 6% of firms in the UK who enjoy the distinction of being awarded Corporate Chartered Status, one of the highest accreditations in the industry. As well as this, many of the advisors have acquired personal Chartered Financial Planner status meaning that clients can feel confident that they are getting the best advice from an adviser who is committed to providing an excellent level of service that is completely tailored to the individual requirements of the client.

Ongoing Service

The comprehensive service received by clients of The Private Office doesn’t end once a portfolio is in place. They continually monitor and review your progress and take into account changing circumstances, markets, economies and legislation in order to maintain the maximum output from your investment.

Commitment to Value

The Private Office operates under the ethos that they will only undertake work for a client if they honestly believe they can add value to their situation. Your success is their success, so you can be guaranteed fair value in their services.

BBT Group Wakfield

BBT Group Ltd

Address:
2 Benton Office Park, Bennett Avenue, Horbury, Wakefield, West Yorkshire WF4 5RA Find an Advisor

Established in 1998, BBT Group uses decades of industry experience to deliver high quality, bespoke financial planning service to their valued clients. Their national operation consists of a team of 55 finance professionals who deliver quality financial advice to over 5000 clients with an excess of £500 million currently under management.

A Comprehensive Approach

In order to ensure a completely holistic strategy to meet all their clients financial needs, BBT Group have taken the appropriate steps to combine financial planning professionals with estate planning professionals, under one roof, to give you a coordinated and adaptable financial plan.

Estate planning arms you with the tools to prepare for incapacity during your lifetime as well as the transfer of your assets in the event of your death. This includes aspects such as a will, power of attorney, and revocable living trust.

On the other hand, financial planning sets the wheels in motion to make your money work hard to help you achieve your financial goals in life. This includes entities such as buying a home or building a retirement fund.

All this is delivered to their clients in an approachable and personable way, establishing long term relationships in order to provide a truly bespoke service which is backed up by years of expertise and quality research into providing the very best solutions.

Whole of Market Advice

The highly qualified team at BBT Group utilise state of the art technology to research the thousands of options available in order to source the best products and services for their clients in a completely tailored solution that is the most appropriate for their individual needs. They strive to fulfil their clients financial objectives in the most economical way available to ensure maximum client satisfaction.

Advice You Can Trust

BBT Group take the time to get to know their clients and hold off on making any recommendations until they have a complete understanding of your circumstances, requirements and financial aspirations. They then utilise this information to put together recommendations that are entirely constructed of what is in the clients best interests in order to help them achieve their financial goals.

Need help finding Independent Financial Advisors Wakefield?

 

Useful links:

Most common questions Peter and the team get from investors in Wakefield

 

I see adverts in Wakefield for Financial Advisors and Financial Planners, what is the difference?

Whilst there is most definitely an overlap between the roles of a financial planner and a financial adviser, they do have important differences that you should familiarise yourself with before you engage their services. Both financial planners and financial advisors will assess your current financial situation in order to put together recommendations to improve that situation.

A financial adviser has the primary ambition of helping you to manage your money including:
Investment management
Estate planning
Retirement planning
Insurance
Debt repayment
Tax planning
Financial planners however are one type of adviser who specialises in creating a plan to help companies and individuals achieve their long term financial goals and can include entities such as:
Retirement planning
Education funding planning

It is important to note that whilst a financial adviser will possess qualifications and credentials to help them achieve their purpose, just about anyone can call themselves a financial planner without possession of any qualifications.

If I choose a local Wakefield based financial adviser, what is it they will do?

The primary role of a financial adviser is to assist individuals in achieving their long term and short term financial goals. In order to accomplish this, financial advisors will meet with clients to assess their financial needs and work alongside economic trends, regulatory changes and the clients wishes in order to help them with investments, tax laws and insurance decisions.

Some of the typical tasks undertaken by a financial adviser can include the following:
Recommend investments, select investments, and research investment opportunities.
Provide clients with tax advice.
Assist clients with insurance decisions and select the best products available.
Help clients prepare for specific circumstances such as education expenses or retirement.
Monitor client accounts and make appropriate changes to improve account performance.

How much should you pay a financial adviser in Wakefield?

There are many variables as to how much a financial adviser will charge you including the specific advice you are after and the billing structure. Some of the different ways that you can expect to be billed for the services of a financial adviser include:
An hourly rate, which in the UK will average at around £150 an hour although you can expect to be charged anywhere from between £75 to £350.
A set fee. This can be the case should you wish to engage the skills of a financial adviser for a specific job.

A monthly fee is often agreed for ongoing financial advice such as managing investment portfolios. This can be done in one of two ways, either via a percentage of the amount of money you are investing with them or alternatively as a flat fee.

There are many elements that will affect the fees that you are charged for financial advice, including the level of qualifications that the adviser is in possession of, the location of the adviser, the complexity of your situation, and how the service is delivered.

Many financial advisors will offer a free consultation in order to discuss their expertise and the fees. This is a great way to establish whether they are the right service for your needs.

How do I choose a financial advisor in Wakefield?

Commission driven products such as payment protection insurance have changed the way that financial advice is regulated in England. Tougher standards have been introduced banning commission driven sales and requiring advisors to hold higher levels of qualifications. However, there is still a variation in the quality of advice you can receive and you should be wary about simply employing the assistance of the first investment advisor you come across.

Firstly, you should ascertain what your requirements are so you don’t get drawn into paying for a full service that you don’t actually need. The most common areas of financial planning are usually paying off debts, building savings, mortgage advice, pension schemes and employer protection benefits.

If you are facing a big decision that requires a fair bit of cash, then you could certainly benefit from the advice of a professional. Decide if you need one off advice or if you would benefit from an ongoing service.

It is also prudent to determine if you would like face to face advice, in which case you will need to employ the support of a company with offices in Wakefield. Face to face advice can help build a trusting relationship with your advisor should you require ongoing support.

Whilst an independent financial adviser may initially incur a greater cost for their expertise, they can offer you any products from across the market rather than being limited to expensive or poor performing products that benefit the advisor financially. Bare this in mind when you are deciding whether to employ an independent financial advisor or a restricted financial advisor.

The last thing to take into consideration are the fees charged. You may need to meet with a few advisors to discuss their payment structure and find an arrangement that suits you and your individual requirements.

How do I find a good IFA in Wakefield?

A good place to start is to seek a personal recommendation for an IFA Wakefield. An IFA’s success with another client will speak volumes about their level of service.

Alternatively, you can find details of trusted IFA’s in Wakefield using our reviews, alternatively you can speak directly to Peter and the team here who will help you for free

Join Pensionbee

Find a Local Financial Advisor near to you

Get FREE Financial Advice

Menu