Independent Financial Advice

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What is Independent Financial Advice?

Rootes Wealth Management offers Independent Financial Advice.

Why is this important? There are two types of advisor in the UK, ‘restricted’ and ‘independent’.

Restricted advisors chose to work with a limited range of providers. This range could be as low as 1 or it could be fairly wide. Each restricted business will make their own decision for their own reasons.

Independent advisors are duty bound to consider a wide range of options. You may have heard of this as ‘whole of market’. I like this because I value the freedom to do the best I can for you. I am accountable to you.

Think of it like buying a car. Say you went to the showroom of an Italian sports car manufacturer. You wouldn’t expect them to recommend a German family estate car. You know and accept that you’re going to look for a specific type of car.

If you went to an Indian takeaway, you wouldn’t expect to be able to buy a Chow Mein. Likewise, if you went to a bank, you wouldn’t expect them to offer another banks products.

What do you expect when you speak to a financial advisor?

Our view is that there is no set solution for any one person.

Think of an imaginary scale. At one end you have a scientific, mathematical formula and at the other end you have impluse and no control. Everyone fits on this scale somewhere.

We all know that buying a coffee every day is not the best use for our money, but it tastes good and is convenient.

The scientific, mathmatical side says this is a waste of money, you can make coffee at home.

The impulsive side says it’s only a couple of quid and I’ll get a pastry too!

Neither side are completely right or completely wrong. It all depends on your personal situation and where you’re trying to get to.

That is finance in a nutshell. What works for Dave might not work for Sophie. We look to balance those factors and recommend workable solutions to get you closer to your goal.