The launch of Candid Financial Advice

I am absolutely delighted to announce the launch of Candid Financial Advice - an independent adviser intent on bringing down the cost of advice..

When I first launched Candid Money around four years ago my aim was very simple – to provide impartial guidance that helps savers and investors make better decisions with their money. And, over one million visitors later, I hope this site has gone some way towards achieving that.

However, one of the things I’ve learned along the way is that not everyone wants to go it alone. Many people either want, or need, the added comfort of a professional financial adviser to help them make the right choices and always act in their best interests.

Since such financial advisers seem to be thin on the ground, especially at a reasonable price, it seemed a logical next step for me to fill this gap. So I’ve been working flat out over the last six months to do just that - the fruit of my labours being Candid Financial Advice (www.candidfinancialadvice.com).

As you would expect, Candid Financial Advice has exactly the same values and ethos as Candid Money. But instead of guidance, it will offer first class advice and ongoing service – at a fraction of the usual cost charged by most other adviser firms.

Is Candid Financial Advice independent?

Yes. It is an independent adviser able to select the most appropriate products from the whole of the market. The business is also independently owned and run by myself and long time friend Ian Millward.

What areas can you advise on?

Candid Financial Advice can help with savings, investments, pensions, tax planning and protection. Common scenarios include reviewing existing pensions and investments to ensure they’re appropriate and cost effective, as well as investing new monies and optimising tax efficiency.

How can I be sure you’re impartial?

Good question. While many advisers proclaim to be independent and impartial, you’ll never usually know for sure. It’s not uncommon for advisers and financial providers to have quite cosy relationships that might influence advice.

Since total impartiality is fundamental to the Candid brand, Candid Financial Advice will never accept any hospitality, inducements or hidden fees from financial providers – the only source of revenue will be the fees paid by clients. As far as I know, no other financial adviser has to date made this commitment.

How much will advice cost?

Candid Financial Advice has a fully inclusive sliding fee for initial advice and service - capped at an absolute maximum of 1%. The exact level will obviously depend on the amount of work involved, but it normally decreases as the sum invested increases. By contrast many advisers routinely charge up to 3% or more and some bolt on extra ‘implementation fees’, so I believe Candid Financial Advice will prove significantly cheaper than the vast majority of other financial advisers.

And what about the investments, pensions and other products you recommend?

I’ve long believed that paying too much for investments, pensions and/or advice can greatly reduce the likelihood of success. Candid Financial Advice is therefore, unsurprisingly, brutal about keeping overall costs to a minimum, preferring low cost options wherever it makes sense to use them.

Does cutting costs mean cutting corners?

No, far from it. The truth is many advisers are content to pick up a handful of very profitable clients each month. My approach is to price high quality advice and service as competitively as possible to attract a large number of clients. We will then work harder, smarter and more efficiently to ensure the business makes a fair profit on much tighter margins. Since the business model relies on retaining clients long term and growing their investments, we have every incentive to do a great job.

What will happen to Candid Money?

For those of you who prefer to look after your own finances, please rest assured I remain fully committed to running both this site and Compare Fund Platforms. Above all else, I enjoy it.

So thank you for all the positive feedback and reader contributions that Candid Money has received to date. Please check out the new website www.candidfinancialadvice.com and don’t hesitate to get in touch if you think we can help you or someone you know.

Please note that when clicking the above links you will leave Candid Money, a financial guidance site not regulated by the Financial Conduct Authority, and go to Candid Financial Advice, a financial adviser that is authorised and regulated by the Financial Conduct Authority.

Read this article at http://www.candidmoney.com/articles/275/the-launch-of-candid-financial-advice