- Are You on Top of GDPR? - Published May 2018 by Raoul Ruiz Martinez
- Financial Fitness - Published Jan 2018 by Raoul Ruiz Martinez
- Six Tough Questions You Need to Ask - Published in Nov 2017 by Raoul Ruiz Martinez
- Plan for a Successful Retirement - Published Oct 2017 by Raoul Ruiz Martinez
- 5-year Plan, 10-year Plan, 30-Year Plan. Do you have yours? - Published August 2017 by Raoul Ruiz Martinez
- The Will Bank Opportunity by John L Douglas - Published in The Journal of the Law Society of Scotland 17th July 2017
- August 2017 - HMRC & Offshore Accounts for UK Residents
- A New Year, A New Start…. January 2017
- Inheritance Tax (IHT) Planning (Part 3) - Published November 2016
- Planning for a Better Future? Forget Trusts. Think Family Investment Companies! - Published Nov 16
- Inheritance Tax Planning (Part 2) - Published August 2016
- BREXIT: What do we know as investors and what are the unknowns? Published in July 2016
- Inheritance Tax Planning (Part 1) - Published in June 2016
- Why is tidy a key word in financial planning? Published May 2016
- The Future of International Financial Planning - Published in March 2016
- Volatility: Global Financial Markets and Tax - Published Feburary 2016
- Financial Information Sharing for 2016 - Published December 2015
Summary of the 2015 Pension Flexibility - Published 5th May 2015
Offshore bonds get £5k tax free savings boost - Published 29th April 2015
How your peers invest clients’ money: Finesco Financial Services Ltd - Published in Professional Advisor 25th March 2015
- TRUSTS : Good Reasons to Never Make a Change - Published March 2015
- Saving....for Ourselves - Today's children will need A £2.4m pension pot.
- Cash is King - Article Published 25th July 2013
- Saving – Don’t Put Off Till Tomorrow What You Can Do Today - Article Published 23rd May 2013
HMRC Statutory Residence Test - 6th April 2013
- QNUPS Article Published 23rd March 2013
- Old New Year - Article Published 24th January 2013
- Retirement and Savings – The Facts on Inflation published November 2012
- Finesco Prsentation on New Pension Rules - A New Generation Begins
HMRC Pension Tax Relief Changes
- Emergency Budget:
- Budget Day: 22 June 2010
- Capital Gains Tax Angles
- Long Term Care
- QROPS: Transferring UK Pensions Overseas
- The State of Pensions
- ISA Changes Affecting You
Many people still under-estimate the importance of making a will, assuming they are not wealthy enough or that their spouse will inherit everything.
Six Tough Questions You Need to Ask - Published in Nov 2017 by Raoul Ruiz Martinez
“Brexit, Expat, Pensions” – Read or Google any of these topics today and you may feel that the media advises you to rush or change your current portfolio or financial vehicles. Marry in haste, repent at leisure is my reply.
Our regulator, the UK Financial Conduct Authority (FCA) demands the highest level of suitability of advice from their advisory community, including acting only in a client’s best interest. Is this enough to protect clients? Unfortunately, there’s always a degree of error.
Clients and investors should insist on a “competent adviser.” The term incorporates ethics and practices that go beyond just tick-boxing the regulatory boxes and performing the minimum amount required to follow the law.
Begin by eliminating bad apples before you begin interviewing potential advisers.
For example, the UK FCA provides many resources as a starting point where the register keeps a database of individuals or firms for proper registration, as well as a history of disciplinary actions and complaints.
With a short-list, you’ll want to evaluate how committed each one is to your financial success. Here are six ways to discern the key qualities that make an adviser a competent one:
How much time are they willing to spend with you to understand your financial goals?
Competent advisers begin every relationship with a robust fact find process so they know you and your needs front to back.
How do they charge?
What’s most important is that advisers are transparent about how they may charge you depending on the services they are appointed for.
What professional qualifications do they have?
Competent advisers are likely to employ professionals specialising in areas like estate planning, taxes, and business financial planning. The minimum requirement in the UK is Diploma-based in financial advice, otherwise “Level 4 of 6” across the EU.
Are they willing to customise investment strategies when needed?
Advisory fees are earned, not simply dropped on their laps. A competent firm will research and innovate new strategies on their clients’ behalf.
Do they ask hard questions?
Advisers must be willing to have fearless conversations with clients.
Can they help you get any specific help you need?
Your adviser shouldn’t hesitate to dig in and help. If their professional remit does not allow them to so, they must refer you to a colleague or 3rd party that is capable.
In short, competent advisers take those “old-fashioned” responsibilities like trust, duty, and care to heart. The extra time you spend making sure you get one is well worth it.
This article is intended to provide a general review of certain topics and its purpose is to inform but NOT to recommend or support any specific investments or course of action.
Raoul Ruiz Martinez is a resident and independent consultant for Finesco Financial Services Ltd., Glasgow and advises clients on private financial matters in both the UK and throughout Europe under the MiFID regulation. Finesco Financial Services Ltd is authorised and regulated by the Financial Conduct Authority (FCA). Some of the services provided are not regulated by the FCA because they are not included within the Financial Services and Markets Act 2000. Raoul has a weekly radio feature (Raoul’s Rant) on the Owen Gee Solid Gold Sunday Morning Show as well as the Money Minute programme on the weekly Si Frater’s Breakfast Show, both on KissFM Portugal.