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Endowment Advisors – Where, Why, How to Find One

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Endowment Advisors – Where, Why, How to Find One

An endowment is nothing but a ‘With-Profits Investment’. It is, unfortunately, not very transparent. Here money is put into one big fund where it is invested in shares and property or bonds and payouts are made in the form of bonuses mostly. But it is not easy to figure out how well the endowments work out.

Generally, people used it with mortgage. They paid only the interest on the mortgage and chalked out an endowment plan in order to repay the capital. They were promised a bonus at the end of it, in addition to paying off the mortgage.

But unfortunately, the bubble burst and not only were people left with no bonuses, but the investment were unable to even raise returns to repay the mortgages as they were promised it would.

Here is where Endowment Advisors are required. What are required are honest advisors who should be able to explain the risk which is linked to the performance of the endowment and not make false promises. The amounts paid as repayments were too low and the expectations of investment returns were blown up to be unrealistically big.

Professional help becomes important even to those who believe they are financially savvy. It is good to pay for an advisor to get the best out of endowments. There can be two types of advisors. The IFAs or Independent Financial Advisors can give unbiased advice. Being true to their clients, they will choose the best providers from anywhere in the market. The Restricted Advisors specialise only in the products of certain providers and so will try to push their clients to invest with them. They are limited to the firms they owe their loyalty to. They do not search the market as a whole to find the best matches for the client. But they are not to be neglected altogether since they are undoubtedly specialists in their field of finance. Yet it is always best to trust an Independent Financial Adviser.

From 31st December 2012, both independent and Restricted Endowment Advisors are being asked to charge their clients as against taking commissions. It could be around GBP 100 to GBP 250 per hour of the time they spend on your portfolio.

Another option is the DIY way. While choosing to invest, it is best to make an educated guess after proper market research. But this involves an element of gambling. So it does pay to have an advisor. It is best not to trust advice from a building society or a bank advisor. Go for your own instead.

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