General

What do you mean by ‘your capital is at risk’?

‘Capital’ is the money you invest. Due to market fluctuations, investment always bears the risk of partial or total loss of funds invested. Fintuity’s objective is to give you the best advice possible and thereby minimise those risks, however, it is important that you understand that there will always be a capital risk and that this applies to anyone making an investment.

What if I changed my mind about some of the solutions proposed to me?

In case of services provided by us

Following the first online meeting, your advisor will prepare a suitability report with financial recommendations and an action plan which will be explained to you during the second online meeting. If after receiving the report you decide not to go ahead with any of the solutions – we will only charge you for the preparation of the report.

In case of financial products recommended by us

Making financial and investment management decisions is not easy, we get it. So if you decide to buy or invest in a financial product we recommended, but then change your mind about it, that’s okay! You can use the cooling-off period and cancel the contract for financial product in question within 14 days of purchasing it.

This timeframe applies to most financial products, but there are some exceptions.

For pension products, you get 30 days from when you enter into the contract, and for life insurance products, you have 30 days from when the provider agrees to the coverage. Some savings products also have different rules.

Please contact your advisor or our support team immediately if you want to cancel any of the financial products recommended by us. You can also contact the product provider directly in writing, by email, or via the website or portal that the provider has given, but we strongly recommend discussing the decision with your advisor before cancelling your contract with the product provider

Refunds after cancellation

If you cancel, then you should get a refund of the money you have paid within 30 days of the provider receiving your cancellation.

The provider can make a deduction from the refund in relation to any services with which it has provided you during the cancellation period.  Any deduction must be reasonable and can only be made if you started receiving services before the 14 days were up.

To learn more about your right to cancel a financial product bought online, have a look here.

How do you differ from traditional financial advisers?

Traditional financial advisers are expensive

Financial advice in the UK is one of the most inefficient and technology-lacking sectors, with the majority of business being conducted out of small private practices. This leads to high commissions, meaning that for many people, such service becomes inaccessible.

Here at Fintuity we optimise every step of the advisory process to bring you a good quality service at a fraction of the cost of your local financial adviser. We run our business completely online meaning we do not have huge overheads such as travelling, paperwork and administration.

Quality of advice from a small local IFA practice could be very poor

A normal advisory practice consists of 3-5 people, who spend a lot of time travelling to their clients and handling tons of paper documentation. They lack resources to do quality research, most of the time relying on product providers they regularly work with.

Fintuity’s centralised research team constantly monitors the market to bring you the best products that are available out there.

We value every client

Due to the nature of the business, traditional advisers target clients with at least £200,000 of investable assets. That is the point at which you become a “valuable client”.

At Fintuity we strongly believe that good quality financial advice should be available to everyone, irrespective of the size of your savings and investments. Funnily enough, for people with less income, it may be more sensible to have a good financial plan than for their wealthier counterparts.

What type of advice Fintuity can provide?

We provide comprehensive advice on investment, pension, mortgage, life insurance, general insurance, inheritance tax planning. Depends on your needs we can either concentrate on specific areas as to retirement planning or new ISA investment advice or provide a full financial review and create a bespoke financial plan for you and your family.

If you require a specific service which we can not provide at the moment we will refer you to one of our partners integrated on our platform, you will remain our customer and receive all benefits as any other customer of Fintuity.

Why are your fees so low?

We run a hybrid advisory model combining the experience of human advisors with the efficiency of modern technology. Optimising every step of the advisory process, we can keep our operational costs significantly lower than those of a traditional financial advisor working out of a brick and mortar office. It allows Fintuity to operate with smaller-than-usual investment limits and substantially-lower management fees than traditional IFA firms.

What will happen during my first online meeting?

Firstly, your advisor will set up a video call with you. During the call, there will be an introductory fact-find to identify your needs and requirements. Having familiarised himself with your circumstances, the advisor will guide you through potential solutions and recommend a level of service suited to your needs. If you decided to proceed, the advisor will analyse and appraise the data collected and prepare a personal recommendation which will be presented to you in the second online meeting.

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