Thursday, 12 August 2010

Beware of vested interests

·        Unlicensed adviser says £1 will soon be €1.30

·        Currency broker says 'Pound will fall further. Buy now.'

We all know the expression ‘don’t believe everything you read in the press’. How much more, therefore should readers be wary of advertisements?

A well qualified, authorised and regulated Independent Financial Adviser would never advise a client to make an investment decision based on currency speculation. I only recommend authorised advisers!  click for further information

 If you see an advertisement, and they are often articles that look like editorial comment, you know that they want you to buy now and hope that the rate moves favourably. But it is based totally on speculation and forecast.

The Currency Dealer says buy now because the rate might be worse when you come to pay for your foreign currency. He bases his assumption on a speech by The Governor of the Bank of England. I read the speech too….it never mentioned currency rates! Mervyn King, in his own style, was warning of a long recession and that’s not new!

These two different articles in two newspapers giving totally different advice were completely aimed at selling their own product. There is, of course, nothing wrong with product selling, but how much better to get fully compliant advice? To be referred please email me

Beware of vested interests!