High Investment Guidance Fees are a Thing of the Past With the Launch of a Free to Use Investment Website
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High Investment Guidance Fees are a Thing of the Past With the Launch of a Free to Use Investment Website

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Learn all about the services we offer
2 Pages
English

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High Investment Guidance Fees are a Thing of the Past With the Launch of a Free to Use Investment Website PR Newswire LONDON, June 14, 2012 LONDON, June 14, 2012 /PRNewswire/ -- For the first time, a brand new website is offering free access to investment planning tools to help consumers avoid expensive guidance costs

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High Investment Guidance Fees are a Thing of
the Past With the Launch of a Free to Use
Investment Website
PR Newswire
LONDON, June 14, 2012
LONDON
,
June 14, 2012
/PRNewswire/ --
For the first time, a brand new website is offering free access to investment
planning tools to help consumers avoid expensive guidance costs from financial
advisers.
Changes to legislation by the Financial Services Authority from
1 January 2013
,
means that financial advisers will have to transparently charge for services -
such as risk profiling and cash-flow planning software - where previously the
charges were bundled together as adviser commissions and fees.
The new website, http://www.money-guidance.co.uk, launched on 11
th
June
2012
will offer these services free of charge to help consumers build their own
investment profiles before making meaningful investment decisions.
Philip Dodd - author of the website and a financial services professional for over
thirty years - is adamant that investors need a planning framework. The price
of accessing this is currently expensive, therefore pushing up adviser fees to
unnecessarily high levels.
Dodd commented: "With commission structures largely disappearing at the end
of this year, advisers are being told to `segment clients or perish'. So, with a
large swathe of investors being cast adrift, their choice will be between a trip to
the bank or a `do-it-yourself` strategy. It is essential that investors equip
themselves with greater knowledge and techniques - after all, it`s unlikely there
will be anyone more interested in their financial well-being than they
themselves."
A recurring theme of the website is the need for the investing public to focus on
driving down costs. This means avoiding the practice of buying last year`s
winners in favour of a disciplined, longer term strategy, which ideally uses
index-tracking funds. It also involves investors saving fees through doing more
spadework themselves, and not relying exclusively on financial advisers to
provide the lead.
The site also makes topical financial information freely available, as evidenced
by the regularly-updated "Media and Research" and "Blog" sections.
For more information see http://www.money-guidance.co.uk.
NOTES TO EDITORS
http://www.money-guidance.co.uk
offers access to the highly-rated risk profiling
system, FinaMetrica, as well as to Voyant`s sophisticated cash flow life-planning
software, entirely free of charge.
The change in legislation on
1 January 2013
is that the Financial Services Authority
will be implementing the Retail Distribution Review (RDR) which, among other things,
will ban the payment of commission in its present form and ensure that payments for
advice emerge as a result of Adviser Charging - i.e. a contract for services between the
adviser and the client, rather than the adviser taking commission direct from product
providers without the need for the client to sign this off directly (as at present).
The RDR will also insist on minimum (QCA Level 4) qualification standards for
advisers, one consequence of which will be the exodus of thousands of advisers who
cannot meet the requisite examination standards.
http://www.money-guidance.co.uk