IFA gives out free financial planning tips and other good news from the week

IFA dishes out free tips through July 

"If you could ask a financial adviser anything, what would it be?" Chartered IFA and founder of Work to Live Financial Planning Ian Richards asked his Twitter followers on Wednesday (1 July) as part of the first instalment of his video series.

Richards is recording videos each weekday throughout July from his Warrington home in a bid to help lift the lid on what advisers actually do.

"It's having a peek under the bonnet - [showing] how does it all work," he explained. "There's a perception that we're all in it for the commission or why do they tell me I need a new product or we're all just sales people.

"It's a peek behind the curtain showing people what it's all about. They can ask me anything about financial advice - any deep dark secrets within financial services."

My own personal challenge for July. Everyday a video on financial services/advice & how it really works. You can ask me anything like arent you all just sales people? So if there is anything you really want to ask now is your chance. Ask me anything u like #pullingbackthecurtain pic.twitter.com/5zp99KQp4k

— Ian Richards (@worktolivefp) July 1, 2020

Richards, who launched his own firm in August 2019 to cater for younger generations, said he wanted to be as upfront and honest as possible when addressing the questions posed by his followers. 

Quilter launches free webinar series for doctors

Quilter is providing general practitioners and hospital doctors free webinars to help them address any errors or inconsistencies in their pensions.

The financial advice giant's dental and medical division has launched a new support package for NHS staff, in response to a range of complications and confusion around the NHS pension scheme.

To help prevent such inconsistencies from resulting in thousands of pounds being lost from these pensions, Quilter is running a series of virtual events with tips and tools for these investors.

Head of development for Quilter's dental and medical advice business Graham Crossley said: "It is frankly astonishing just how many errors we encounter in our work with medical professionals. And these are not small errors, they are errors that would have cost them tens, if not hundreds, thousands of pounds.

"To ensure we are helping as many people as possible we are pleased to launch a webinar series available to any GP practice or hospital. Awareness of the possible errors and what you can do to meet tax bills can go a long way."

PFS creates guide on avoiding coronavirus scams

The Personal Finance Society (PFS) has created a guide that highlights six warning signs of a scam that consumers should be aware of.

The leaflet, called How to Avoid Investment Scams, shares information about how to find out about potential coronavirus scams, how they could affect individuals and how to protect yourself from losing cash.

It flags that scammers may share fake reviews and claim other clients have invested or want in on the deal to get savers to part with their cash.

PFS chief executive Keith Richards said: "A major event like coronavirus can initiate new types of scam activity and our profession will be able to spot scams quicker than the unsuspecting public. Financial advisers can play a key role in fighting financial crime.

"Together with the Financial Conduct Authority and The Pensions Regulator, we are urging consumers to be vigilant for scams that could appear over the coming weeks and months. A key takeaway from this leaflet is if in doubt, always seek impartial advice from a regulated financial adviser or a trusted friend and if something sounds too good to be true, it probably is."

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