What is a Financial Broker?
An expert in financial matters, a Financial Broker provides services including: personal financial planning, life cover, serious illness cover, income insurance, health insurance, savings, investments, pensions, retirement planning, tax and inheritance planning, mortgages and commercial finance.
What can I expect from a Financial Broker?
A Financial Broker will take time to get to know you and your financial goals and help you come up with a plan. They will research products that match your needs from the range of companies they deal with, providing a "fair analysis" of the relevant market.
How much will it cost to engage a Financial Broker?
When a Financial Broker is paid by commission, there is generally no extra charge compared to dealing directly with the provider.
How expert are Financial Brokers?
Financial Brokers are obliged to have a qualification or be accredited by experience. They are full time professionals, who constantly study all relevant markets and receive regular briefings from various product providers.
How can I be sure my Financial Broker will put my interests first?
A Financial Broker's best customers are repeat, so it is in their interest to put your needs first. By law they must put your interests above commissions in their recommendations. Brokers are subject to rigorous enforcement rules by the Central Bank of Ireland and may face fines, revocation or disqualification if they do not follow those rules.
How secure am I when dealing with Financial Brokers?
Financial Brokers offer an advisory service and will never ask for monies to be made payable to them. Instead you pay the insurer or product provider in full, or by direct debit directly to these institutions. This means there is no solvency risk in dealing with Financial Brokers.
What are the benefits of dealing with a Financial Broker?
Solid financial plans and strategy:
Your Financial Broker will analyse your resources and develop a strategy to minimise your risks and get the most out of your money over time.
Matching strategy with your risk tolerance:
Your attitude to risk is critical when making forward-looking financial decisions. Your Financial Broker will work with you to assess your risk tolerance and create a suitable plan with that in mind.
Making the best choice for you: