How fi­nan­cial ad­vice has helped one of our cus­tomers

Daily Mail - - Mail Finance -

“Hav­ing that help­ing hand and ad­vice has been ab­so­lutely vi­tal to me in terms of how I look at my fi­nan­cial plan­ning”

Even ex­pe­ri­enced in­vestors can ben­e­fit from the per­sonal touch of speak­ing to an ex­pert

It is not easy to grow your money at the mo­ment. In­ter­est rates on sav­ings ac­counts are at his­tor­i­cally low lev­els and in­vest­ing can be dif­fi­cult given there are thou­sands of op­tions to choose from. That is why sit­ting down with a fi­nan­cial ad­viser to dis­cuss your plans could make a huge dif­fer­ence.

Ex­pe­ri­enced in­vestor Bernard McNaboe, who lives in Lan­cashire, pre­vi­ously used the ser­vices of one of the UK’s big­gest banks for fi­nan­cial ad­vice. In 2009 Bernard chose to move his in­vest­ments to Skip­ton, who are the care­fully cho­sen part­ners of Mail Fi­nance.

Bernard ex­plained, “Af­ter 2008, when all the big banks were in­volved in the fi­nan­cial cri­sis, I de­cided to start look­ing more se­ri­ously at gen­uine build­ing so­ci­eties who were not go­ing to sell out to banks or be­come banks them­selves.

“I talked to the Skip­ton fi­nan­cial ad­viser at the time, and the way they in­vested cus­tomers’ funds in­ter­ested me greatly.”

In-depth re­search of the market

Skip­ton’s tech­ni­cal re­search team re­views thou­sands of funds from across the market on a reg­u­lar ba­sis. This is to put to­gether a pre­ferred panel of funds, which their fi­nan­cial ad­vis­ers use to make tai­lored rec­om­men­da­tions.

Bernard stated, “The ad­vice sys­tem in place is ex­cep­tion­ally help­ful for peo­ple who know lit­tle about in­vest­ments. Al­though I have in­vested quite lib­er­ally over the years, I was in­vest­ing in the dark. I didn’t re­ally have the knowl­edge and the ex­per­tise to look at the big­ger pic­ture, look at the long-term and look at the way my in­vest­ments were go­ing. Hav­ing that help­ing hand and ad­vice has been ab­so­lutely vi­tal to me in terms of how I look at my fi­nan­cial plan­ning.”

On­go­ing sup­port

One of the key rea­sons Bernard chose Skip­ton is the on­go­ing ser­vice they pro­vide. In re­turn for pay­ing an on­go­ing fee, this Mon­i­tored In­formed In­vest­ing ( MII) ser­vice of­fers you greater clar­ity over how your in­vest­ments are per­form­ing. Bernard con­tin­ued, “MII means the funds I have in­vested into are mon­i­tored on a reg­u­lar ba­sis. If a par­tic­u­lar in­vest­ment isn’t per­form­ing well they would mon­i­tor it and if it con­tin­ued to per­form poorly they might also of­fer the op­tion to switch funds. I know that in­vest­ments can go down and up, but at least they are mon­i­tor­ing where my money is in­vested and I like that at­ti­tude.” The MII ser­vice fea­tures a range of prom­ises to keep you in­formed. For ex­am­ple, you re­ceive quar­terly re­ports, up­dat­ing you on re­cent per­for­mance and the strat­egy be­ing taken by the fund man­ager. An on­go­ing ser­vice is op­tional and may not be suit­able for ev­ery­one. For ex­am­ple, if you are happy mon­i­tor­ing your own in­vest­ments and do not want to pay an on­go­ing fee.

Face-to-face con­tact

Most im­por­tantly of all to Bernard is the abil­ity to meet with his fi­nan­cial ad­viser, Kelly, when­ever he needs to dis­cuss his fi­nances. “I get quar­terly re­ports and I’ve got ac­cess on­line, which is great, but you can’t beat the per­sonal touch of sit­ting down with some­one and go­ing through your in­vest­ments, hav­ing a gen­eral chat about your sit­u­a­tion and where you see your­self go­ing,” he com­mented. “I think Kelly is great. You could talk openly to her about any is­sue. We talk about spe­cific fi­nan­cial is­sues that af­fect me per­son­ally as well as things in gen­eral. For ex­am­ple, we share a mu­tual in­ter­est in the coun­try­side. My in­vest­ments are ex­cep­tion­ally im­por­tant, but money doesn’t dom­i­nate my life. My par­ents taught me to be thrifty and re­spect money, and I have done that all my life. My in­vest­ments give me a feel­ing of se­cu­rity in an un­cer­tain world.” Please re­mem­ber that stock mar­ket­based in­vest­ments are not like bank and build­ing so­ci­ety sav­ings ac­counts as your cap­i­tal is at risk and you may get back less than you in­vested. The value of your in­vest­ments and any income from them may fall as well as rise.

Bernard McNaboe with his per­sonal Skip­ton fi­nan­cial ad­viser

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