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Frequently Asked Questions

What is RDR (Retail Distribution Review)?

The RDR is a change of the retail investment market that encompasses how consumers are charged and the standards of professionalism expected of financial advisers.  It came into force from 1 January 2013, to provide greater transparency to those investing in pension and investment products by explaining exactly how advice will be paid for. It is also designed to increase professionalism in the industry.

The most fundamental change is that from 1 January 2013, commission payments to financial advisers on products with an investment element will cease.

To learn more, click here to view our Guide to Professional Advice

What is an IFA (Independent Financial Adviser)?

Independent Financial Advisers represent the top tier financial advisory services in the UK.

Independent means you will receive unbiased advice – we are not tied to any institution, so we are free to advise and recommend whatever we feel is the most appropriate solution for you and your unique circumstances.

Our IFA’s have a very high level of qualifications and experience in the industry and you will receive the most up to date professional advice.

 

What Qualifications Do Your Advisers Hold?

From 1 January 2013, advisers must hold a minimum level of qualification (QCA Level 4) in order to be able to continue to provide investment advice.  Bankfield takes the Continuous Professional Development of its team very seriously and any adviser you deal with will have the necessary qualifications and experience to provide the highest levels of advice for your requirements.

Our advisers are suitably qualified to give advice on investments, pensions, trusts, taxation, business planning, insurance, mortgages, equity release and long term care.

Why should I pay for financial advice?

Financial Advice has never been free.  Paying for high-quality professional financial advice can ensure that you are able to develop a ‘holistic’ financial planning strategy that will enable you to become financially independent by protecting and growing your wealth.  Professional financial advice will take into account your attitude to investment risk, the amount of money you have to invest, how long you have to invest the money and whether or not you need an income.

Without professional financial advice you could risk making costly mistakes.

To learn more, click here to view our Guide to Professional Advice