8 - Providers Of Financial Information And Guidance Flashcards
What are 2 advantages of Citizens Advice?
Advice can be accessed both online and in person
Free
What are 2 disadvantages of Citizens Advice?
Volunteers aren’t specialists in finance
May have long waiting times to see an advisor
What are 2 advantages of an IFA?
Professional advice
Regulated services by official bodies
What are 2 disadvantages of an IFA?
Charge for services used
Advice not always 100% up-to-date or unbiased
What are 2 advantages of a price comparison site?
24/7 access
Free
What are 2 disadvantages of a price comparison site?
Doesn’t cover all prices
Possible bias
What are 2 advantages of the Money Advice Service?
Free and impartial advice
Covers lots of financial matters
What are 2 disadvantages of the Money Advice Service?
Not available face-to-face
Advice can be generic
What are 2 advantages of a debt counsellor?
Professional advice
Regulated services by official bodies
What are 2 disadvantages of a debt counsellor?
Charge for services used
Advice solely focuses on debt management
What are 2 advantages of an IVA?
Independent advice
Makes budgeting easier
What are 2 disadvantages of an IVA?
Impacts future credit rating
Fees charged for the service
