Unravelling the mystery of financial advice

If the thought of managing your money sends a shiver down your spine, there’s no need to worry.

It can be daunting to negotiate the self-service financial world alone, online, but there are people out there who can help you.

Our chosen financial partners Wren Sterling are out on the road offering friendly face-to-face expert independent advice to people like you every day.

They work to protect clients’ money and make it work harder for them.

In fact, their own poll revealed that almost nine out of every ten people’s pensions, savings and investments may not be in the best place, simply because they’ve taken no advice in the past year.

Andy Scott, an Associate Director with Wren Sterling, said: “Financial advice given at a period in time will be useful and serve a purpose, but if circumstances change, there’s a danger of it becoming irrelevant or at the very least, not as relevant as it should be. 

“A big part of receiving financial advice is feeling in control of your destiny, so I always encourage clients to view the service as an education piece, to ask questions and expand their own understanding.”

To show how they can help, Wren Sterling financial adviser Kev Mitchell shares some examples of his work with us.

9.30am-10am: Meeting with The Nottingham’s branch manager to discuss our appointments in the diary for the day – and recap on the help we’ve been providing to Nottingham Building Society members. It’s been even busier since the Member Rewards scheme was launched!

10am: Return client calls from the previous afternoon as I was out visiting a client at their home. (I like to meet my clients face-to-face and establish a relationship with them. Some clients prefer telephone advice, or just can’t take the time out of their day for a visit.) 

Mr Hain has decided to take his family on a big anniversary holiday abroad, and needs to release some funds from his investments. He wants to talk about the effect this will have. I’ve arranged to meet Mr Hain at his local branch of Nottingham Building Society next week.

11am: Appointment with Mr Kent booked by the local Nottingham Building Society branch. Notes say Mr Kent is looking for better return on capital, so I discuss investment options with him and he has made a further appointment for when his wife is available to be there to discuss it all.

12noon: Second appointment with Mrs Clark to present advice following our ‘fact find’ appointment. I presented advice on the back of that insight with a clear understanding of her financial goals to invest for capital growth over medium to long term, arranged a plan of action with the client who was happy to go ahead and conduct the business.

1pm: Lunch – and a chance to get some fresh air in one of our heartland market towns.

2pm: Conduct a review of Ms Misson’s savings in branch. She’s an existing client from 2013. She had inherited some funds but simply left them in her current account. I’ve helped her to create a retirement plan. In the review I looked for any legislation changes, to see how the funds are performing, and re-assessed her current products to see if she’s getting the best return on her investments. 

3pm-4pm:  Free space available for walk-in appointments at the Nottingham Building Society. (Note: Mr Park and Mrs Fraser walked in and after hearing how I can help they decided to make longer appointments for the following week.)

5pm:  Leave to travel to client’s home to carry out a review appointment, presenting to Mr Lucas on how his investments have performed during the year. Discussed Mr Lucas’ plan to move home and how that will affect his savings. Being at home was a good environment for him. He was relaxed and had more time to spend with me than in previous appointments.

  • These examples are fictional diary entries based on the typical workload of an independent financial adviser.
  • Please note the value of an investment can go down as well as up and you may get back less than your original investment.
  • Equity investments do not afford the same capital security as deposit based investments.

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