Save more, spend less. Job done.
How often are you offered free financial advice? We all know its not free, well I hope we all know it’s not free. The purpose of free financial advice is a way to sell you investment products.
Everyone from time to time needs help. There is always a need for financial guidance and advice, but the answers you receive can be different depending on who you ask. Generally, the person you ask is someone you like. You like how they talk, how they look and what they say. In other words, you like the wrapping…and if you like the wrapping, you’ll probably like the contents.
Whilst we have regulation in the UK that requires anyone who is providing financial advice must be regulated, as a form of consumer protection, it is not like a spacesuit. It has holes. Which means the consumer, must follow the English proverb based on the Latin phrase ‘Caveat Emptor’. Let the buyer beware. It means when you take up the offer of free financial office, you need to be aware. In fact, you must beware, which is slightly more defensive in context.
By all means, accept as much free advice as you want, but choosing to buy is a massive decision that you need to get right.