Overcoming barriers to advice FT Adviser
While the economic landscape may have changed dramatically since the process began, the RDR remains vital. Indeed, the need to create a savings society, and therefore to fully implement the RDR, are arguably more important than ever.
It has been a long-standing policy at the ABI to promote public saving. We recognise the potential in the RDR to help achieve this. Research by the FSA and others consistently shows that very few consumers are confident in making even the most basic of financial choices. So it is clear that widening access to financial advice and financial products is vital.
However, we are concerned that some of the proposals within the RDR would actually reduce consumer access to advice without parallel policies to ensure wider access. Policies such as adviser charging, while necessary, could push advice out of financial reach for many consumers.
The FSA is in danger of failing to fulfil one of the key objectives of the RDR, which is to widen access to financial advice to as many consumers as possible. For this reason, the ABI and our members have developed proposals for a new advice service, known as simplified advice. This process is designed to meet the needs of a large base of consumers who either cannot afford, or do not need, full financial advice. The aim is to provide suitable recommendations based upon a limited assessment of a consumer's needs.
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?What’s Worse than Student Loan Debt?
by William Blake
The negative effects of student loan debt on recent college graduates have been well reported on. There are things, however, which can be much worse. The current state of the American economy is driving up the price of literally everything, including a college education. Some unscrupulous people may present opportunities to you, giving advice on how to eliminate all of your debt related to student loans. Beware of such advice and remember that there are real, honest ways to get rid of your debt.
Interest Rates and Averages
The average student loan debt for individuals who had graduated from college after having studied for four years was $20,000 in 2006. This can be a rather intimidating statistic, and some students feel that having to start to pay off such debt just six months after having graduated from college will be too much to handle.
The sad reality of the matter is that anyone who has been born into a modern American or European household has been doomed since the day they were born to pay immense amounts of taxes to the government of the country where they live. In fact, you should feel better when you think about how insignificant student loan debt is when compared to the debt people get into when they purchase a home.
Financial institutions will always try to charge you an interest rate on any loan as high as they possibly can, especially at first. This is because the bank earns money by means of the interest they charge. As times go by, however, the bank will become more willing to lower your interest rate.
Your Situation Is Not Hopeless
There are always things you can do to negotiate a lower interest rate. This is even better when you have had a job for a while, as you can prove that you are a low-risk borrower. But you can always contact a debt management specialist at any point of your life. These are often non-profit organizations that will offer you money management classes as well as a consolidation loan.
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Super Brokers Form to Push Super Broken Products to Dupe Super Rich - Seeking Alpha Super Brokers Form to Push Super Broken Products to Dupe Super Rich For many of you who did not match the performance of this blog, a significant reduction in lifestyle expenses is in order, or the expectation of 20% plus |
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