Independent Financial Advice

Money management

If you require assistance with money management, there are a number of local and national agencies that can provide support and advice.

Budgeting

• The Citizens Advice Bureau provides an online budgeting calculator and they have online factsheets that may be useful.
• Wakefield District Housing operates the Cash Wise programme for social housing tenants. The programme looks at how you can make money go further, opening a bank account and claiming grants and benefits.
• The Money Advice Service is a free and impartial service set up by the Government. They offer advice around borrowing, budgeting, saving, investing, work, pensions, retirement, benefits, insurance, homes, mortgages and debt.
• White Rose Credit Union is a financial cooperative that provides straightforward, affordable financial services to anyone who lives or works in Leeds and Wakefield; is a resident of certain housing associations or works for one of their ‘select employers’. The credit union provides affordable loans at fair rates of interest to meet everyday needs and even for larger purchases. They also provide a range of savings plans and other accounts that help our members save and manage their money.

Financial planning

Seeking professional financial advice may be helpful if you have little experience, or are confused about making decisions about finances. When looking for advice it is important to distinguish between advice and guidance.

Financial Guidance: provides information about different options available to you. No recommendation will be given. Guidance services are not regulated by the Financial Conduct Authority (FCA), and you may not therefore, have any comeback if anything goes wrong. An example of a service that can provide you with guidance is the Money Advice Service.

Financial Advice: will inform you about products or services that would suit your requirements. The Financial Conduct Authority regulates Financial Advisers. There are two types of advisers:

• Independent: give unbiased advice about the whole range of financial products from all different companies.
• Restricted: only provide advice about a limited range of products. They may offer specialist advice in a certain area, and a restricted range of companies

If you are looking for regulated financial advice, you can check that the advisor is listed on the Financial Conduct Authority register.

The Citizens Advice Bureau provides independent online information that outlines the steps you should take when seeking financial advice.

Court of protection

The Court of Protection makes decisions on applications which involve people who lack mental capacity.

You can contact the court if you have a query about an application:

• that deals with someone’s personal welfare
• to become a deputy or change an existing deputy order
• concerning deprivation of liberty
• to sell jointly owned property
• to make a statutory will or gift
• to cancel an enduring power of attorney
• to object to a lasting power of attorney

The HM Courts and Tribunals website has:

• guidance on making applications
• a full list of application forms

Contact Details and further information can be found here.