Need Advice?
Thursday 14 January 2010
This was the headline from Cazenove capital. Yet, is it advice they are selling or products?
The issue for investors is to be aware of the difference. If an investor chooses an institution to manage their money, and are fully aware of the conflicts, if so,then they knowingly enter into an agreement with the institution understanding the conflicts. Yet when I meet investors, the right questions are never usually asked to understand conflicts of interests.
If you go to a private bank, try to think of them as car dealerships.
Would the Ford, Audi or any reputable motor manufacturer salesman outline the negatives of their products? Perhaps you would buy with such knowledge. It is up to you to research from independent sources, magazines, TV programmes, Which reports, to help balance the salesman's pitch and what you are really happy with. Its Caveat Emptor.
In the world of investment, it tends to be more difficult, not least because as an investor your needs are individual. Therefore, if you are thinking of investing with a product provider, include in your search a fee only adviser. If you do chose the likes of Cazenove capital for example, you can do so with much more clarity and awareness of the conflicts of interest and how they affect you. I prefer no conflicts myself. Do you?
posted by Murray Round Wealth Management @ 15:20,
The Authors
Nicholas Round
Nic is the Managing Director of Murray Round Wealth Management Limited, who seeks to ensure the advice provided is truly independent. Based in Shropshire with clients local, national and worldwide, Nic has strived to find the best possible service for his clients needs, by researching and studying the market, trends and philosophies. Nic strongly believes Asset Class Management will bring his clients Financial Freedom, Independence and Happiness.
Kirsty
Kirsty is our communication guru. Managing information requires considerable due diligence and her passion for organisation gives the clarity we all seek. From Shropshire, with a Psychology Degree and much travelling, she is now back in Shrewsbury...and London often, keeping us all at Murray Round focused.
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