Bank advisors not so available

Some bank’s investment adviser have gone quiet recently and a huge number of people, who in the past have relied on a bank’s adviser, may have found themselves stranded and forced into making important investment decisions alone. In some cases it’s because the bank has decided that it is no longer financially viable to give advice to people with less than £50,000 or even £100,000. (Lloyds is an example of a bank that is no longer offering face-to-face financial advice to those with less than £100,000 in savings and investments.)

So, if you have been feeling as if the banks have pulled the plug on their investment advice services to you it might be of interest  to realise this has largely come about because of something known as RDR – the Retail Distribution Review – which was carried out by the financial regulator to, among other things, make sure people were getting a fair deal from financial services companies. It wanted to stop the all too common practice of advisers selling investments not on merit or suitability for a client but instead because of the commission they were receiving.

A lot of the banks – and other providers of financial advice – have done their sums and realised that in the post-RDR world they just can’t make enough money out of advising people who don’t have a substantial amount of money to invest. So if you are feeling the need for help with your investments Enable's Independent Financial Advisors’s in Bishop’s Stortford might be able to help.

Issued by: Enable Independent Financial Life Planners
25c North Street, Bishops Stortford, Herts CM23 2LD
Telephone: 01279 755950 - Fax: 01279 657339
Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority.
It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us.
NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE