When deciding where to save or invest, you can shop around and compare products yourself, or get advice. When getting advice it's important to know what type you're getting and to check that your adviser is authorised. You also need to understand whether you're getting advice or just 'information'.

Savings and investments - what's the difference?

When you put money into savings accounts you usually know you'll get back at least what you put in - and usually interest on top. Investments (like shares, unit trusts, pensions and life insurance) may grow but this isn't guaranteed - they could fall in value or you could lose your money altogether. It's therefore important to consider getting financial advice before buying an investment. An adviser will also make sure that what you're buying is suitable for you.

Advice on investments

Anyone offering investment advice must be authorised to do so by the Financial Services Authority (FSA).

Investment advisers must:

•  ask you in detail about your financial situation and needs

•  explain why the product they recommend is suitable

•  give you clear information about the costs

They must give you this information in 'Keyfacts' and 'Key features' documents.

Types of investment adviser

There are three types:

•  those who will shop around the whole market for suitable products

•  those choosing from a limited range of product providers

•  those advising only on products offered by one company

All advisers must give you a Keyfacts document 'About our service' explaining which type of advice they offer.

At Millenium Life & Mortgages we are able to shop around the whole market for suitable products, are regulated by the FSA and have 25 years of Investment experience.

As the subject is so expansive, and your requirements unique, it is essential that you are able to trust your advisor. It is our experience that this can only be achieved by a close relationship between advisor and client. We feel that Investment advice should be conducted face to face, giving you, the client, an opportunity to "look into the eyes" of your advisor!

If you would like to have a FREE initial consultation about any Investment, Saving or Pension situation you have, please complete the Contact form and we will arrange for one of our advisors to speak with you.