Get financial advice and guidance
When we contact you about making your claim, your claim manager will help you understand what support is available to you depending on your circumstances.
This might include:
- paying for you to have a session with a financial adviser
- providing you with financial guidance for people claiming compensation through IBCA - you can also view this guidance online
- showing you how to get free financial guidance from other organisations
Session with a financial adviser
If your claim moves forward, and depending on your circumstances, we will pay for you to have a session with a financial adviser, if you want one.
This will be delivered by a financial adviser that IBCA has approved.
Topics covered in the session include:
- the effect on your future finances when you choose to take either one lump sum compensation payment or regular payments over time
- managing your compensation in a safe and practical way, including using a secure bank account that can accept a high-value payment
- avoiding scammers and fraud
- the importance of a will and related topics
- where to find, and how to identify, reliable sources of further financial advice
Your financial adviser will not give you specific investment advice on what products to put your money into. They can tell you how to get investment advice if you want it. You do not have to have further sessions or follow their advice. You can also have a trusted person with you during the session.
We can only provide financial support through a financial adviser that IBCA has approved. You can use your own financial adviser, but we cannot pay for this.
Financial guidance for people claiming compensation through IBCA
You can get information designed for people making a claim.
This includes guidance on:
- looking after your mental health
- help with managing your money and banking
- protecting yourself against financial abuse, scams and fraud
- how compensation affects your benefits and tax
- wills and estate planning
- getting financial advice
You can get financial guidance online.
Other free financial guidance
MoneyHelper
You can get free, impartial financial guidance from MoneyHelper, including:
- how to avoid scammers and fraud
- how to manage your money
- general investment advice
Contact MoneyHelper by phone, webchat, or using a web form.
Citizens Advice
You can get free, impartial financial advice through the Citizens Advice service.
Advicelocal
For local support, enter your postcode on Advicelocal to find financial information on benefits, tax credits, council tax, debt, housing, homelessness, work issues, disability and social care.
Advice NI
If you live in Northern Ireland, you can use Advice NI to get help with a range of financial issues.