Karen CooperKaren Cooper of Chadwicks
The Importance of Independent Financial Advice
It’s never the wrong time to review your finances to ensure that they are on track writes Karen Cooper of Chadwicks. After all, your financial well-being plays a part in nearly everything you do, or look forward to doing in the future.
Whether you’re looking for the best pension plan, mortgage, investment scheme or life assurance policy, the most suitable product for you is almost certainly out there.
However, with a pool of over 30,000 financial products on the market, tracking down the right one can be a time-consuming and costly experience.
More and more publicity is given to where to go for financial advice, but do people really understand it? Marketing material piles through our letter boxes, falls out of our newspapers and is ever present every time we log on to the internet. In addition, organisations are increasingly approaching consumers with details of their financial products and special promotions. They may well be suitable for you, but how do you know for sure?
When it comes to long term savings products such as investments, pensions and other areas like protection, you will need to be aware of which best suits your needs, whether there are better alternatives and the level of risk involved.
Sadly most people have received only the merest hint of education about personal finances and therefore do not have the knowledge that is required to make these judgements alone. In the same way as you would turn to a doctor if you have health problems, so you should seek professional help when it comes to your finances.
There are many places you can turn to for advice: friends and family, your bank, or a professional adviser, but only an Independent Financial Adviser (IFA) is able to offer you unbiased financial advice on products across the whole market. Any other advice route will offer you limited advice and whilst this may be all you think you need, experience shows that when the choices are clearly explained, people recognise the value of independent financial advice.
The current recessionary climate has encouraged people to think seriously about their long-term financial well-being and retirement planning - and not before time. Recent research has revealed that many adults from all walks of life face future financial hardship unless they seriously start to plan ahead. Moreover, over one in ten adults expect to delay their retirement by as much as five years. Financial pressures are growing for the millions of retired pensioners who, despite their retirement planning, still struggle to meet increasing day-to-day living costs. The need for financial advice has never been greater, yet a worrying number of people are putting their heads in the sand over retirement planning. No-one plans to fail – they just fail to plan.
Mike & Liz Cooper set up Chadwicks from offices in Hauley Road, Dartmouth almost 35 years ago. It’s a friendly, family business, which prides itself on offering professional independent financial advice to clients both locally and throughout the UK. Their daughter, Karen (pictured), joined the business in 1991 having worked previously in London and took over the reins in December 2007. Mike is still active in the business albeit on a part-time basis.
We offer advice on all aspects of financial planning, but specialise in Investments, Retirement and Estate planning and also hold the specialised qualifications to advise on Equity Release. We have a team of experts and also offer a free Will “MOT” for all our clients to ensure their will is appropriate for their needs and is regularly updated. We offer our clients the option of fee, commission or a mixture of the two and an initial meeting is offered at our expense.
Chadwicks are still based in Hauley Road (next door to Charles Head Estate Agency) but now at street level. Feel free to pop in or contact us by email (KarenCooper@chadfinman.com) or phone – 0800 833389.
First Published December 2011 By The Dart