People become complacent, take things for what they are, and accept that sometimes things may suffer as a result.
The financial services industry is no different, especially when it comes to ongoing service and advice. I’ve been in this industry for nearly a decade and believe me when I say, the number of financial advisers I’ve seen come and go has been comparable to Gatwick airport (pre-Covid of course!). I may make light fun of this, but on a serious note it has created some serious issues within what should be a very well respected, relied upon industry.
I do feel we are turning a corner, and with tighter regulation being enforced all of the time, the cowboys and unregulated firms are finally being squeezed out. But what happens to all of those clients who were advised by such people, what happens to them?
Well over the years, Chorus have seen influxes of ‘orphan’ clients who have lost contact with their adviser. Some of these clients will have been passed to a ‘new adviser’ within the same firm. It’s often the case that their new adviser isn’t located in their nearest town, city, province or indeed the same country! Some clients have found their new adviser is based in jurisdictions as far as the Middle East! So, they are left with an adviser, possibly in a different time-zone, with no local presence, likely no knowledge of Spanish rules and regulations, or indeed the tax system, and it becomes a real challenge to receive appropriate advice or forge a good client-adviser relationship.
I wanted to write this article to make people aware just how simple it is to appoint an appropriate adviser and just how you and your finances could benefit from it.
One of the most important parts of my job is to truly get to know my clients, to have a personal relationship with them, to fully understand their needs and objectives. I’ll grow to appreciate their concerns or doubts, even how computer literate they may or may not be, and more often than not, their dog’s name!!! Honestly, it is those little things that makes all the difference, and it is the foundations on which trust can be built.
Being passed from one adviser to the next is not ideal, how can your goals and objectives truly be met if you are having to constantly switch advisers? Or possibly, even if the service or returns aren’t good, you go with the ‘better the devil you know’ approach!
Switching to a Chorus adviser is a simple and quick process, involving one or two forms that we’ll pre-fill for you. This will result in you having a permanent, expert, experienced adviser, who will promise not to pass you from pillar to post and will give you industry leading service and advice.
Changing adviser generally involves no additional fees, and at Chorus we can often strip as much as 2-3% in hidden or unnecessary charges from your existing plan, whilst ensuring you are left in an appropriate, high quality portfolio.
Chorus will continue to help clients who are either unhappy or have lost contact with their financial adviser. We truly believe that we can add value to your existing investments or pensions, and we will be able to demonstrate this to you in a call or a meeting. If you would like to discuss your options, please email me on firstname.lastname@example.org or call me on +34 693 107 044.