With the help of Slater Financial I can relax safe in the knowledge that my savings are working hard for me.
Unbeknown to many, finding the right investment route is only part of securing your financial future and putting the wheels in motion to meet those short and long term objectives. Once you have identified a product that suits your individual circumstances and begun to invest your hard earned money into this provision, taking steps to protect your investment and limit shortfalls is vital.
Our Derbyshire based financial advice team help business owners and private individuals understand the dos and don’ts of protection planning on a daily basis but where should you begin?
Do review regularly
Reviewing your investments on a regular basis is an important part of not only keeping on target to meet your financial goals but minimising risk in the process. Seeking financial advice from a qualified specialist will ensure you are able to access impartial information and protect your investment.
Don’t forget to insure
Unfortunately certain life events cannot be foreseen, and every individual investor can be left vulnerable as a result of long term illness or death. Insurance is an integral aspect of financial planning, and for very little cost you can protect your income efficiently and effectively.
Do know your rights
All current and savings accounts that are regulated by a UK financial institution, including cash ISAs, are already covered by the Financial Services Compensation Scheme (FSCS). The FSCS provides up to £75,000 of protection per institution so if your bank, building society or credit union fails, you are insured. As per new legislation, which came into effect in summer 2015, savings of up to £1 million are protected for a six month term should the provider you hold the investment with fail.
For independent financial advice regarding investments, savings and insurances please call Slater Financial today on 01298 212444.
*This article does not constitute financial advice. Slater financial strongly advises you to seek professional advice before making any financial decisions.*