What is financial advice?
Financial advice has a specific legal and regulatory meaning. It is a personal recommendation from a qualified individual given after due consideration of your personal circumstances and objectives. It is important to clarify the difference between taking advice and making your own decisions without going through this process (execution only) so you can select the right option for you.
We believe Hargreaves Lansdown is unique in presenting both options clearly and providing the choice to ensure you only pay for advice you need.
An adviser should take time to analyse your objectives, needs and attitude to risk to ensure the advice given is suitable. They will be proactive with opinions and suggestions to make sure you understand the implications of the proposed action. The advice will then be presented in writing and must clarify the associated risks and costs.
Your financial practitioner will be authorised and regulated by the Financial Service Authority (FSA) and subject to rigorous ongoing testing and scrutiny. You can check on an individual's registration on the FSA website.
If an adviser recommends an investment which is not suitable for your circumstances, you have the right to redress and compensation for incorrect advice. Poor performance alone is not grounds for complaint, although an investment with an unsuitable risk profile may be.
When you make your own investment decisions and use our services to execute your instructions (known as execution only) you accept responsibility for ensuring the investment is suitable for you.
We offer the information and support you need to make your own decisions. The choice of investment and whether to buy, sell or hold is yours and yours alone.
As the comparison highlights, our most highly qualified staff will spend much more time with you when you obtain financial advice, which is why there is usually a fee for this service. Investing is full of pitfalls for the unwary and if you’re not confident making your own decisions advice can represent good value. Indecision and neglect of your financial affairs could end up costing considerably more.
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Security of investments
You can be confident in the safety and security of your assets when you invest through Hargreaves Lansdown
A great introduction to a huge range of investments and their risks. This guide will help you get the delicate balance of risk and potential for reward right in your portfolio.