Why should I take financial advice?

Whether its savings, investments, or mortgages a financial advisor can offer expertise and experience that offers peace of mind.

Personal finance can be extremely complicated. There are laws and regulations not to mention a market full of choices, but a financial advisor can help you navigate what is right for you and your family making sure you get the best possible deals and that you make the most of your financial situation to offer unmatched peace of mind.

Independent or Restricted

There are Independent Financial Advisors (IFAs) and Restricted Advisors, the former are not limited to certain financial products whereas Restricted Advisors are tied to certain companies. A Restricted Advisor might be able to offer excellent advice and the best possible packages but only from certain organisations whereas an Independent Financial Advisor will offer ‘whole of market’ possibilities to avoid putting all your financial eggs in one basket.

What do financial advisors do?

Initially a financial advisor will assess your financial circumstances, requirements and goals creating a personalised financial plan which recommends certain products. They also build an ongoing long-term relationship where they can use their professional skills to offer continuing support.

Saving you money

A financial advisor will not only advise how best to maximise savings and investments to make money, but they will offer suggestions on how to minimise your tax contributions and save money.

Mortgage advice

One area where a financial advisor could literally make buying a house possible and save you thousands of pounds is when you are looking for a mortgage. The mortgage marketplace is highly complicated with new products coming online daily. With their professional experience and an extensive network of contacts a financial advisor could bring certain lenders into play that would not be available otherwise. They could find products that maximise your deposit contribution at the most competitive rates.

Planning for the future

Although it might be years or even decades away a financial advisor can advise on what you will need to live a comfortable life when you retire. As with mortgages, planning for retirement is extremely complicated with many different options, but a financial advisor can offer tailored retirement solutions.

Protection for your family

Many of us do not want to think about what will happen should we become incapacitated or die, but sadly this is a fact of life, and we all want to make sure that our loved ones are provided for in such circumstances. A financial advisor can offer a personalised plan to make sure families are taken care of financially and offer you peace of mind.

Here in the UK, all financial advisors are regulated by the Financial Conduct Authority (FCA). A good financial advisor will be able to provide verifiable recommendations, and you should check their qualifications. Once you have identified your needs and their specialisms set up an initial meeting.