It is very hard to tell the worth of financial advice
Is it possible to tell the worth of financial advice? A survey was done by Core Data Research and in their report, they answered that it is 39 pounds. This answer was based on the answers of average price which was given by the consumers during that report which were ready to pay in an hour. After this report came into light, the people who were working as financial advisers were very much in chock after seeing the importance of their time that it is so little. But in the year 2013, the Retail Distribution Review that is RDR is going to fix the rate of a profession adviser at 200 pounds which is quite healthy.
Nic Cicutti in Money Marketing was of the view that no one should actually get surprised after having a look at such low figures. He gad to say that people that is the customers actually have no idea of the worth of the time of a financial advisers as things till date have been based on opaque commission system which actually was going from past so many decades.
When the survey was being done around 10 percent people said that they always thought that advices given are free and many people did not even a thought that how difficult it is to give financial advice to someone is and how much goes into it. Today people very well know that if they consult a lawyer, it is going to cost those around 150 pounds which one has to pay for an hour that one has to pay to take solicitation from them.
The commission that looked into this matter had to say that no one actually is aware how much do they have to pay in order to get financial advice or what actually the rate would be. In addition to this many people had to say that they were done no good when they took up the services of financial advisors. The relationship between them and their advisors was not worth it. Unable to get cash help apply with unsecured loans for bad credit @ www.unsecuredloansforbadcredituk.co.uk and get funds despite having worst financial ratings.
It also had to say that the advisors themselves were not actually good at explaining how important their work was. If they were able to do so then this problem would not have come up at the first place. Most of the first-rate financial advisors have to say that initially it is a little difficult but when the client realizes that what the advisor is actually doing for him and how important it is for him then he does not sulk about the amount that is paying for the service which he is taking up.
Ross Sorin - About Author:
Ross Sorin is expert financial adviser. He gives his expert views on finance UK. He writes articles for unsecured loans for bad credit, no worries loans and very bad credit loans.
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