When seeking professional help and advice regarding your retirement planning, you need to ensure that any advice you seek comes directly from a fully regulated financial advisor. As with any aspect of your wealth management strategy, your retirement strategies must be taken seriously and thoroughly.
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It will help you ensure that you are on the right track to getting the retirement you desire. Using a fully regulated financial advisor is essential if you want to receive good service, best practices and advice tailored to your individual needs.
Unfortunately, in many countries, anyone can be called a financial advisor, but this does not mean that they are trained or have the appropriate experience and qualifications. This means that you may be attracted to an advisor who is actually tied to a particular bank or similar financial institution – meaning that you are offered a product that only provides financial benefits to their partner and themselves.
Unregulated advice can put you in a situation where not all options have been clearly explained to you. Because advisors must act in accordance with the guidelines of their governing body.
They are bound by a code of conduct that requires them to make impartial recommendations and analyze your particular circumstances to offer the most appropriate advice. If regulated advisors act unethically and cause financial loss, they can be fined and removed from the list.