FAQ

If you drop into your high street bank then you may be greeted by a financial adviser, but this advisers can recommend only the products of that specific bank or a single insurance/investment company with which it has an alliance. They are referred to as a ‘tied’ advisor.

As the name suggests, an independent adviser – like Positive Solutions (Financial Services) Ltd – can match your current circumstances with the best product from the widest market, to meet your specific need. You are benefiting from personalised advice, which is only provided after we collect certain details about you and your circumstances. That should be reassuring.

We provide every client with full details on how we are paid for each service – sometimes that will be a fee charged to you, sometimes from a commission on the product, and sometimes a combination of both. You will always be told this in advance of signing any contract. You will be given a copy of our complaints procedure, and our Data Protection process under GDPR.

We ensure the products we recommend are suitable for you, based on the information you share with us. This personal information is held securely on our system, and we comply with all requirements under the General Data Protection Regulations introduced in May 2018.

When we advise you on regulated products (including investments, insurance and some forms of mortgages) you have the protection of the Financial Ombudsman Service (FOS) and the Financial Services Compensation Scheme (FSCS).

We think it’s unlikely, but if you are unhappy about our service at any stage you, please contact us directly. This allows us to provide a fuller explanation of why we believe a product was right, based on the information available at that point in time, or to put things right in some other way. Our contact details can be found on the contact us page.

Should you remain dissatisfied, you are entitled to refer your complaint to the Financial Ombudsman Service at www.financial-ombudsman.org.uk, or contact them on 0800 023 4 567. They will investigate your complaint independently and their ruling is binding upon us.

If the firm has ceased to trade, you currently have recourse to the Financial Services Compensation Scheme (FSCS). Its service is funded by levies on firms that are authorised by the Financial Conduct Authority, and it protects customers where firms have closed or gone into liquidation. (Subject to any future change in regulatory structure.)

Some advice we offer is not regulated by the Financial Conduct Authority – such as general taxation and some Buy-to-Let mortgages. This means you may not have the added protection of either the FOS or FSCS when dealing with some unregulated products. If this applies, we will always make it clear to you before you commit to any decision.