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Rebecca1982 · 04/03/2010 15:24

Hi,

I am very new to this site and have been having a look through some of the 'advice' and posts on this section and some of them have worried me a great deal.

Some people seem to be offering investment advice where they shouldn't be.

If anyone needs any advice on investments can I suggest they start with www.moneymadeclear.fsa.gov.uk/

it is the FSA website which is there to put investments etc into clear terms.

Also if you are dealing with any IFAs make sure they are registered on the FSA website and if in any doubt about them do not give them any money. All IFAs should hold the CII Certificate at the very least and from 2012 all IFAs must be at diploma level or they are unqualified to give advice

IFAs these days should be offering you the choice of paying for your advice via fee's or allowing the IFA to take comission on the policy.

In many cases it is cheaper to pay fees' but of course this depends on curcumstances.

I myself am not an IFA just a paraplanner but I cannot stress enough the need to seek professional advice for investments.

And one final point - your bank does not give 'FREE' advice they take comissions on your policy which means you pay for it a different way. If you're bank tells you it is free they are more than likely not telling the whole truth. Ask them to show what affect their comissions is having on your plan/produce/policy or investment.

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