Looking for an IFA in Cheltenham?
At Howard Wright we provide financial advice across the West Midlands to include our many clients in Bridgnorth.
Our team of Chartered Financial Planners are experts in advising our clients on their current and future Financial Planning requirements.
Simply put “It’s what we do”.
At Howard Wright, we specialise in the following areas of Financial Planning.
Independant VS Restricted Advice
When providing financial advice there are two types, Independent Financial Advice (IFA) and Restricted Advice. But what are the differences and how do they affect the advice you receive?
Independent Financial Advice
As the name suggests, if an adviser or company is classified as an independent financial adviser, they should consider all types of retail investment products for their clients from firms all across the market. A retail investment product refers to all packaged, publicly marketed financial products that have exposure to underlying assets such as stocks and bonds that provide a return over time, and have an element of risk.
A restricted adviser can only recommend certain products or providers however, this may not mean that they are tied in with these providers, as is the case with Howard Wright.
At Howard Wright the restrictions have been self-imposed following the whole of market research as there are many products available which are higher risk, non regulated or illiquid, that we feel are not suitable for the majority of our clients. As such after conducting our research we are able discount them from our offering.
By utilising this strategy, it also allows us to restrict and remove providers from our offering that do not allow us to effectively run our advice proposition. This process is reviewed on a regular basis, which means that it is continually developed to ensure that it meets the needs of our clients.
What are these restrictions for Howard Wright?
For certain investment products, at Howard Wright we maintain a provider panel for use by our clients. This panel has been compiled from undertaking whole of market research and is reviewed on a regular basis.
Investment products where a panel is provided are as follows:
- Life policies with an investment element
- Personal Pensions and Self Invested Personal Pensions
- ISA’s and Collective Investment Arrangements
- Unit Trust and OEIC Funds
- Investment Linked and Drawdown Pension arrangements
- Exchange Traded Funds (ETFs)
For other investment products, Howard Wright will employ the use of external research tools to assess a ‘range of providers’ for each individual client.
These products are as follows:
- Pension Annuities (non-investment linked)
- Structured Deposit Arrangements and other Cash based investments.
Both independent financial advisers (IFA) and restricted advisers must have the same minimum level of qualifications to be able to advise in these areas.
At Howard Wright, we have gone beyond the required minimum to achieve the CII title of Chartered Financial Planners. This is the gold standard of the industry and an assurance that we operate to the highest standards within the industry.
Free Initial Consultation
To book your free initial consultation with one of our Chartered Financial Planners, to see how our financial advice can help you and your family in Bridgnorth. You can call us on 0345 688 4939 or you can fill in our enquiry form below, it only takes 20 seconds to complete.
Once we have received your enquiry, one of our Consultants will contact you as soon as possible.
“Eleven years ago I retired and not being financially educated I was faced with what was the legal and financial implications in accessing my retirement fund. Initially it was panic stations with the plethora of options and pitfalls to overcome.
At this point I was introduced to the Howard Wright Organisation that was very local. My first meeting quickly unravelled the options available, and without any external pressure I was able to make my decision concerning a Draw Down Option.
Considering the volatile market and financial nightmares over these past 11 years my decision has been proved correct. They have protected my fund and allowed me to sleep at night by operating a brilliant flexible system that continually updates me, plus a brilliant start of year meeting so I can assess the way forward for any upcoming period.
We are so pleased with the outcome that when my wife retired she went along the same route”