FridayOL

The Pitfalls of Being the Go-To Family Financial Adviser

Investors Chronicle

Being the family finance guru can be a daunting task, especially when it comes to offering advice. Clare Moffat, head of technical and marketing compliance at Royal London, reveals that she is often approached by friends and family for financial guidance, but she is always cautious not to cross the line. As she notes, financial advice is heavily regulated for a reason, and it's essential to be mindful of the risks involved. With the complexities of personal finance and wealth management, it's crucial to seek professional advice from a qualified financial adviser to avoid any potential pitfalls. By doing so, individuals can ensure they are making informed decisions about their financial future, including retirement planning and investment strategies.