How to avoid getting short changed by your bank
Informed Choice chartered financial planner Nick Bamford was quoted in an article on Citywire Money today, looking at ways to avoid being short changed by your bank.
Nick said that the old attitude that your bank would look out for your best interests needs to be replaced with a more questioning attitude.
‘You need to think there will be sales pitch it may be labelled as advice or financial planning but that person in front of you has got some aggressive sales targets,’ said Bamford, chief executive of Informed Choice. ‘You should always shop around and give yourself some breathing space to get a second or even third opinion. Don’t be sold.’
You can read the Citywire article in full here.
The only way to receive impartial and unbiased financial advice that is in your best interest (and comes without the product sale) is to speak to an independent financial adviser who operates on a fee basis.
This removes the need to sell a financial product to earn commissions and means they will focus on what is best for you.