Savings Advisor - Coastal Financial
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Savings Advisor

Why are we encouraged to keep savings? From childhood most of us are told to put away money to save for the future – Of course this all depends on your personal circumstances, for something special perhaps, or retirement planning? Or maybe to be sure that when we really need something we have the funds to acquire it, without taking on debt? Whether you place your money in a piggy bank, or in a multinational investment house, as a Savings Adviser, our aims are broadly the same; to provide for our future needs, and to protect ourselves against unexpected causes of expenditure.

Financial Planning

When planning your finances, it is important to distinguish the difference between savings and investments. Savings are generally funds that you set aside, but can be accessed relatively quickly. These savings are often for a specific need or purchase, like a holiday or a new car. The most common way of ‘saving’ is into a bank account (‘deposit’ account) where the money can be accessed in an emergency, and for every £1 you put in, you will get £1 back (short of a bank collapse!), and possibly some interest.

The key to efficient saving and planning is having top quality, expert independent financial advise that is up to date.

How Much Risk?

Investments are designed to be held for a longer term, usually at least 5 years. You need to be comfortable with tying up this money for a period of time and should not consider investments unless you have some savings in place. Most investments are not guaranteed to return your money in full, although do offer the prospect of potentially higher returns than deposit accounts. Returns, risk and volatility are the factors that will determine a suitable place for your savings.

Financial Products

Savings and Investment products range from a simple current account, which allows a small amount of interest, but facilitates regular payments and withdrawals without detriment to your savings. At the opposite end of the scale would be company shares, where you invest money in a company, with the prospect that the company will prosper and the shares will increase in value over time. Whilst the benefits are potentially high, the risks are also much greater, with the potential to lose money.

We will be able to explain risks in more detail as your independent financial adviser.

Need A Financial Adviser?

Contact your Financial Adviser before making any decisions. We can offer expert independent financial advice such as investment advice, or show you how to save money and manage your money in the best way possible. Helping to protect your financial future. It’s important to have financial advice from the experts like us!

There are two types of Financial Adviser, Independent and Restricted Adviser. As an Independent (IFA) we are able to give unbiased advice on the whole range of financial products, from all the different companies available. Unlike restricted advisers who give advice on a limited range of not necessarily, suitable products, but who may specialise in a particular area, such as pension savings.

The Financial Conduct Authority does not regulate deposit accounts.

We are a regulated Adviser. You should only use an adviser who’s authorised and regulated by the Financial Conduct Authority. This means that: Your adviser has the right qualifications You’re covered by the Financial Ombudsman Service and the Financial Services Compensation Scheme if something goes wrong.

For more details on how we can help you, please contact us.

If you are looking for financial guidance, instead of financial advisers, you could contact a free, impartial organisation that specialises in financial guidance, such as the Money Advice Service.

The Personal Finance Society is also a searchable directory of PFS members, where we can also be found.

Savings Advisor - Coastal Financial

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