Taking the vice out of advice


Contact me today on (+34) 96 558 7633 or email john.hayward@spectrum-ifa.com to see how we can help.

Definition of advice: to give an opinion or suggestion to someone about what should be done : to give advice to (someone).

Definition of vice: bad or immoral behaviour or habits

In relation to financial products offered by brokers and institutions to clients, I believe that the definition of advice should continue with: for the benefit of the client. I suspect that this is not always, or even often, the case.

Problem areas

–  No written disclosure of charges or “pros and cons”

–  Funds sold only to earn additional commissions.

–  Funds that are clearly unsuitable for retail clients (experienced investor funds).

–  Structured notes which appear to promise amazing returns yet often fail to deliver.

There are different levels of quality of advice. If this were judged in divisions, we at The Spectrum IFA Group believe that we are in the Premier League. How are we different to other financial planning advisers?

–  We explain everything to clients before they commit, including ALL the charges.

–  We do not recommend high risk products.

–  We only deal with funds that can be traded daily.

–  We do not take commissions which are offered by fund managers. If these are payable, they go back in to the client’s plan.

–  We are qualified to give certain types of advice but we do not pretend to be what we are not.

–  We do not attempt to scare people into action.

–  We are truly independent. We have spent many years assessing and reassessing who we deal with. We do not hunt for companies and their products. They come to us.

–  We do not charge fees where commission is payable.

–  We have developed a family environment within The Spectrum IFA Group and we do not allow anyone to join the firm who could jeopardise that situation.

focus-1238444-639x852Of course, there are other good firms out there but, almost every week, I hear a sad story where a client has been miss-sold and/or misled. We would rather deal with people now and not 5 years later when they discover they have been poorly advised. Let us guard your financial future.

For more information on how you can benefit from my, and my company’s, experience, contact me at john.hayward@spectrum-ifa.com or (+34) 96 558 7633.